IL SB4238

Creates the Rock Island Regional Port District as a unit of local government within the City of Rock Island, with territory of adjacent municipalities able to be annexed by majority vote of all participating city councils.

Establishes the governing and administrative body as the city councils of participating municipalities, with each municipality's city council governing Port District matters within its corporate limits.

Grants the Port District extensive powers including acquiring and operating port facilities, issuing revenue and general obligation bonds (up to 2.5% of assessed property valuation), collecting user fees, regulating navigable waters, and establishing foreign trade zones.

Allows participating municipalities to levy a tax not exceeding 0.05% annually for Port District corporate purposes and provides that Port District property is exempt from taxation except for leasehold estates and improvements owned by others.

Amends the Foreign Trade Zones Act to add Rock Island Regional Port District to entities authorized to establish and operate foreign trade zones, and amends the Eminent Domain Act to recognize Port District condemnation powers.