Bill Text: IL HB3894 | 2009-2010 | 96th General Assembly | Introduced
Bill Title: Amends the Property Tax Code. Provides that property and any leasehold interest in property that is owned by a municipality with a population of over 500,000 inhabitants, or a unit of local government whose jurisdiction includes territory located in whole or in part within a municipality with a population of over 500,000 inhabitants, is exempt from taxation under the Code if the property is used as a harbor. Effective immediately.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2009-03-13 - Rule 19(a) / Re-referred to Rules Committee [HB3894 Detail]
Download: Illinois-2009-HB3894-Introduced.html
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1 | AN ACT concerning revenue.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 5. The Property Tax Code is amended by changing | ||||||||||||||||||||||||
5 | Section 15-185 as follows:
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6 | (35 ILCS 200/15-185)
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7 | Sec. 15-185. Exemption for leaseback property and | ||||||||||||||||||||||||
8 | qualified leased property.
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9 | (a) Notwithstanding anything in this Code to
the
contrary, | ||||||||||||||||||||||||
10 | all property owned by a municipality with a population of over
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11 | 500,000
inhabitants, or a unit of local government whose | ||||||||||||||||||||||||
12 | jurisdiction includes
territory located in
whole or in part | ||||||||||||||||||||||||
13 | within a municipality with a population of over 500,000
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14 | inhabitants,
shall remain exempt from taxation and any | ||||||||||||||||||||||||
15 | leasehold interest in that property
shall not be
subject to | ||||||||||||||||||||||||
16 | taxation under Section 9-195 if
the
property is directly or | ||||||||||||||||||||||||
17 | indirectly leased, sold, or otherwise transferred to
another | ||||||||||||||||||||||||
18 | entity
whose property is not exempt and immediately thereafter | ||||||||||||||||||||||||
19 | is the subject of a
leaseback or
other agreement that directly | ||||||||||||||||||||||||
20 | or indirectly gives the municipality or unit of
local
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21 | government (i) a right to use, control, and possess the | ||||||||||||||||||||||||
22 | property or (ii) a
right to require
the other entity, or the | ||||||||||||||||||||||||
23 | other entity's designee or assignee, to use the
property in the
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1 | performance of services for the municipality or unit of local | ||||||
2 | government. Property
shall no longer be exempt under this | ||||||
3 | subsection as of the date when the right of
the
municipality or | ||||||
4 | unit of local government to use, control, and possess the
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5 | property or to
require the performance of services is | ||||||
6 | terminated and the municipality or unit
of local
government no | ||||||
7 | longer has any option to purchase or otherwise reacquire the
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8 | interest in
the property which was transferred by the | ||||||
9 | municipality or unit of local
government.
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10 | (b) Notwithstanding anything in this Code to
the
contrary, | ||||||
11 | all property owned by a municipality with a population of over
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12 | 500,000
inhabitants, or a unit of local government whose | ||||||
13 | jurisdiction includes
territory located in
whole or in part | ||||||
14 | within a municipality with a population of over 500,000
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15 | inhabitants,
shall remain exempt from taxation and any | ||||||
16 | leasehold interest in that property
is not
subject to taxation | ||||||
17 | under Section 9-195 if the property, including dedicated public | ||||||
18 | property, is used by a municipality or other unit of local | ||||||
19 | government for the purpose of an airport or a harbor or parking | ||||||
20 | or for waste disposal or processing and is leased for continued | ||||||
21 | use for the same purpose to another entity whose property is | ||||||
22 | not exempt. | ||||||
23 | For the purposes of this subsection (b), "airport" does not | ||||||
24 | include any airport property, as defined under Section 10 of | ||||||
25 | the O'Hare Modernization Act. | ||||||
26 | Any transaction described under this subsection must be |
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1 | undertaken in accordance with all appropriate federal laws and | ||||||
2 | regulations. | ||||||
3 | (c) For purposes of this Section, "municipality" means a | ||||||
4 | municipality as defined
in
Section 1-1-2 of the Illinois | ||||||
5 | Municipal Code, and "unit of local government"
means a unit
of | ||||||
6 | local government as defined in Article VII, Section 1 of the | ||||||
7 | Constitution of
the State of
Illinois. The provisions of this | ||||||
8 | Section supersede and control over any
conflicting
provisions | ||||||
9 | of this Code.
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10 | (Source: P.A. 93-19, eff. 6-20-03; 94-750, eff. 5-9-06.)
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11 | Section 99. Effective date. This Act takes effect upon | ||||||
12 | becoming law.
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