Comments: IL SB1456 | 2019-2020 | 101st General Assembly

Bill Title: Amends the Property Tax Code. Provides that certain leasehold property that is used for an airport, for parking, or for waste disposal or processing and is used for a non-exempt purpose is subject to taxation as a leasehold for the period of time during which it is used for that non-exempt purpose. Provides that the use of a portion of that property for a non-exempt purpose shall have no effect on (i) the exemption of the remaining portion of the property that continues to be used for an exempt purpose or (ii) the future exemption of that same portion of the property if it ceases to be used for a non-exempt purpose and returned to use for an exempt purpose.

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Passed) 2019-08-23 - Public Act . . . . . . . . . 101-0551 [SB1456 Detail]

Text: Latest bill text (Chaptered) [HTML]

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