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91_HB0849
LRB9103681PTpk
1 AN ACT to amend the Property Tax Code by changing Section
2 15-155.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Property Tax Code is amended by changing
6 Section 15-155 as follows:
7 (35 ILCS 200/15-155)
8 Sec. 15-155. Port districts. All property belonging to
9 the Chicago Regional Port District or any other port district
10 created by the General Assembly legislature of this State is
11 exempt. However, a tax may be levied upon a lessee of such
12 property based on the value of a leasehold estate separate
13 and apart from the fee, or upon improvements constructed and
14 owned by others than the Port District.
15 (Source: Laws 1961, p. 3370; P.A. 88-455.)