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IL HB3426

Bill

Official Source

Status

Engrossed

4/4/2019

Primary Sponsor

Randy Frese

Click for details

Origin

House of Representatives

101st General Assembly

AI Summary

  • Amends Section 9-195 of the Property Tax Code regarding taxation of leasehold interests in tax-exempt property.

  • Requires airport authority leases with tenants liable for property taxes to include specific language stating the lessee is liable for taxes on the leasehold interest in accordance with Section 9-195 of the Property Tax Code.

  • Imposes a penalty on airport tenants who fail to make timely property tax payments, with the penalty amount not to exceed the taxes in arrears.

  • Takes effect upon becoming law.

Legislative Description

PROP TX-LEASEHOLD-AIRPORTS

Last Action

Senate Floor Amendment No. 1 Motion to Concur Re-Referred to Rules Committee

6/23/2020

Committee Referrals

Rules12/16/2019
Assignments5/31/2019
Judiciary4/24/2019
Assignments4/9/2019
Revenue & Finance3/28/2019
Property Tax3/14/2019
Revenue & Finance3/5/2019
Rules2/15/2019

Full Bill Text

No bill text available