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| Public Act 097-1161 | ||||
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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 | ||||
Sections 9-195 and 15-160 as follows:
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(35 ILCS 200/9-195)
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Sec. 9-195. Leasing of exempt property.
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(a) Except as provided in Sections 15-35, 15-55, 15-60, | ||||
15-100,
15-103, 15-160, and 15-185,
when property which is | ||||
exempt from taxation is leased to another whose property
is not | ||||
exempt, and the leasing of which does not make the property | ||||
taxable,
the leasehold estate and the appurtenances shall be | ||||
listed as the property of
the lessee thereof, or his or her | ||||
assignee. Taxes on that property shall be
collected in the same | ||||
manner as on property that is not exempt, and the lessee
shall | ||||
be liable for those taxes. However, no tax lien shall attach to | ||||
the
exempt real estate. The changes made by this amendatory Act | ||||
of 1997 and by this
amendatory Act of the 91st General Assembly | ||||
are declaratory of existing law
and shall not be construed as a | ||||
new enactment. The changes made by Public Acts
88-221 and | ||||
88-420 that are incorporated into this Section by this | ||||
amendatory
Act of 1993 are declarative of existing law and are | ||||
not a new enactment.
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(b) The provisions of this Section regarding taxation of | ||
leasehold interests
in exempt property do not apply to any | ||
leasehold interest created pursuant to
any transaction | ||
described in subsection (e) of Section 15-35, subsection (c-5)
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of Section 15-60, subsection (b) of Section 15-100, Section | ||
15-103, Section 15-160, or
Section 15-185.
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(Source: P.A. 92-844, eff. 8-23-02; 92-846, eff.
8-23-02; | ||
93-19, eff. 6-20-03.)
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(35 ILCS 200/15-160)
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Sec. 15-160. Airport authorities and airports. | ||
(a) All property belonging to any
Airport Authority and | ||
used for Airport Authority purposes or leased to another
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entity, which property use would be exempt from taxation under | ||
this Code if
it were owned by the lessee entity, is exempt. | ||
However, the provision added by
Public Act 86-219 shall not | ||
apply to any property of any Airport Authority
located in a | ||
county with more than 3,000,000 inhabitants. Property acquired
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for airport purposes by an Authority shall remain subject to | ||
any tax previously
levied to pay bonds issued and outstanding | ||
on the date of acquisition.
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(b) Also exempt is any airport or restricted land area or | ||
other air navigation
facility owned, controlled, operated or | ||
leased by another state or a political
subdivision of another | ||
state under the provisions of Sections 25.01 to 25.04,
both | ||
inclusive, of the "Illinois Aeronautics Act". However if at the | ||
time of
the acquisition of property to be used for public | ||
airport purposes the city,
village, township or school | ||
district, in which said property is located is
indebted for any | ||
amount for payment of which it provided for the collection of
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taxes, the property acquired for public airport purposes shall | ||
be subject to
taxation for the payment of said indebtedness in | ||
the same proportion as said
property bore to the taxable | ||
property in said city, village, township or school
district | ||
immediately before the acquisition thereof, according to the | ||
last
assessment for taxation.
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(c) If property of the Metropolitan Airport Authority of | ||
Rock Island County is leased to a fixed base operator that | ||
provides aeronautical services to the public, then those | ||
leasehold interests and any improvements thereon are exempt. | ||
(Source: Laws 1963, p. 1725; P.A. 86-219; 88-455.)
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