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94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
HB0776
Introduced 2/1/2005, by Rep. Ed Sullivan, Jr. SYNOPSIS AS INTRODUCED:
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Amends the Property Tax Code. Makes a technical change in a Section concerning the leasing of exempt property.
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A BILL FOR
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HB0776 |
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LRB094 07292 BDD 37450 b |
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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 |
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| Section 9-195 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, |
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| 15-100,
15-103, and 15-185,
when property which is exempt from |
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| taxation is leased to another whose property
is not exempt, and |
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| the
the leasing of which does not make the property taxable,
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| the leasehold estate and the appurtenances shall be listed as |
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| the property of
the lessee thereof, or his or her assignee. |
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| Taxes on that property shall be
collected in the same manner as |
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| on property that is not exempt, and the lessee
shall be liable |
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| for those taxes. However, no tax lien shall attach to the
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| exempt real estate. The changes made by this amendatory Act of |
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| 1997 and by this
amendatory Act of the 91st General Assembly |
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| are declaratory of existing law
and shall not be construed as a |
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| new enactment. The changes made by Public Acts
88-221 and |
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| 88-420 that are incorporated into this Section by this |
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| amendatory
Act of 1993 are declarative of existing law and are |
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| not a new enactment.
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| (b) The provisions of this Section regarding taxation of |
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| leasehold interests
in exempt property do not apply to any |
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| leasehold interest created pursuant to
any transaction |
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| 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 |
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| 15-103, or
Section 15-185.
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| (Source: P.A. 92-844, eff. 8-23-02; 92-846, eff.
8-23-02; |
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| 93-19, eff. 6-20-03.)
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