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LEGISLATIVE

Illinois

5/24/06-The city of Chicago recently got authorization to lease Midway International Airport for up to 99 years.
In response, Gov. Rod Blagojevich signed off on legislation that preserves the airport and several other properties’ tax-exempt status for any new operator.
SB2872 clarifies that the airport, its parking garages and three recycling stations would remain tax exempt if leased to a private company.
The new law requires 90 percent of the money received from any deal to privatize the airport to be used for city construction and infrastructure maintenance and be deposited into city employee pensions.
Any lease deal would require the approval of the Federal Aviation Administration as well as airlines that serve the airport.

Legislative Watch LEGISLATIVE

Legislative Watch
LEGISLATIVE