94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
HB0163


 
Introduced 1/11/2005, by Rep. Jim Watson
 
SYNOPSIS AS INTRODUCED:
 		














35 ILCS 200/15-140









    Amends the Property Tax Code. Provides that all property belonging to any water cooperative organized or existing under the General Not For Profit Corporation Act of 1986 is exempt from taxation under the Property Tax Code.
















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FISCAL NOTE ACT MAY APPLY


HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY
















 


 


A BILL FOR









 









HB0163

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1
    AN ACT concerning revenue.

 
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    Be it enacted by the People of the State of Illinois,
 
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represented in the General Assembly:


 
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    Section 5. The Property Tax Code is amended  by changing 
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Section 15-140 as follows:
 



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    (35 ILCS 200/15-140)



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    Sec. 15-140. Public water districts, water cooperatives,

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and water and drainage works. All
property belonging to any 
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public water district organized or existing under the
Public 
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Water District Act or belonging to any water cooperative 
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organized or existing under the General Not For Profit 
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Corporation Act of 1986 is exempt, as is all property belonging 
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exclusively
to any incorporated town, village or city, and used 
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exclusively for conveying
water to the incorporated town, 
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village or city, and all property of drainage
districts, when 
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used exclusively for pumping water from the ditches and drains

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of the district for drainage purposes.

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(Source: Laws 1967, p. 4030; P.A. 88-455.)