65 ILCS 5/ Illinois Municipal Code.

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65 ILCS 5/11-65-25

(65 ILCS 5/11-65-25)

Sec. 11-65-25. Tax exemptions for existing public-facilities corporations.

If, before the effective date of this amendatory Act of the 95th General Assembly, a municipality has incorporated a public-facilities corporation and the public-facilities corporation complies with the requirements set forth in Section 11-65-10, then, for all purposes:

(1) No tax is imposed under the Use Tax Act, the

Service Use Tax Act, the Service Occupation Tax Act, or the Retailers' Occupation Tax Act upon the use or sale of tangible personal property sold to a public-facilities corporation for purposes of constructing or furnishing a municipal convention hall; and

(2) all real property and the municipal convention

hall owned by the public-facilities corporation is exempt from property taxation.

(Source: P.A. 95-672, eff. 10-11-07.)

65 ILCS 5/Art. 11 Div. 66

(65 ILCS 5/Art. 11 Div. 66 heading) DIVISION 66.

COLISEUMS IN CITIES AND VILLAGES

OF LESS THAN 500,000

65 ILCS 5/11-66-1

(65 ILCS 5/11-66-1) (from Ch. 24, par. 11-66-1)

Sec. 11-66-1.

Every city and village with a population of less than 500,000 in the
manner provided in this Division 66, may establish and maintain a
municipal coliseum to be used for general educational and amusement
purposes for the benefit of its inhabitants. For this purpose, the
corporate authorities may levy a tax not to exceed .25% of the value, as
equalized or assessed by the Department of Revenue, on
all the taxable property of the municipality, for the establishment of
such a coliseum, and thereafter may annually levy a tax not to exceed
.05% of the value, as equalized or assessed by the Department of Revenue,
on all the taxable property of the municipality, for
the maintenance thereof. Those taxes shall be levied and collected in
like manner as other taxes of the municipality are levied and collected
for municipal purposes. This tax when collected shall be paid to the
municipal treasurer and shall be designated as the municipal coliseum
fund. This tax shall be in addition to all other taxes which the
municipality is now or may be hereafter authorized to levy and collect,
and shall be in addition to the amount authorized to be levied for
general purposes as provided by Section 8-3-1.

The foregoing limitations upon tax rates may be increased or
decreased according to the referendum provisions of the General Revenue
Law of Illinois.

(Source: P.A. 81-1509.)

65 ILCS 5/11-66-2

(65 ILCS 5/11-66-2) (from Ch. 24, par. 11-66-2)

Sec. 11-66-2.

Whenever 100 or more electors of a specified
municipality present a written petition to the municipal clerk
asking that an annual tax be levied for the establishment and
maintenance of a municipal coliseum in the municipality, the municipal
clerk shall certify the proposition for submission
to the electors of the municipality at an election in accordance with the
general election law.

The question shall be in substantially the following form:

--------------------------------------------------------------

    Shall an annual tax be levied
for the establishment and               YES
maintenance of a municipal         ---------------------------
coliseum in the city (or                NO
village) of ....?
--------------------------------------------------------------

(Source: P.A. 81-1489.)

65 ILCS 5/11-66-3

(65 ILCS 5/11-66-3) (from Ch. 24, par. 11-66-3)

Sec. 11-66-3.

If a majority of all votes cast at the election are in favor of the tax
levy for a municipal coliseum, the corporate authorities, in the next
annual tax levy, shall include a tax not to exceed .25% of the value, as
equalized or assessed by the Department of Revenue, on all
the taxable property of the municipality for the establishment of a
municipal coliseum in the municipality, and thereafter may annually levy a
tax not to exceed .05% of the value, as equalized or assessed by the
Department of Revenue, on all the taxable property of the
municipality, for the maintenance thereof and for the payment for the use
of any money loaned or advanced to the municipality for the purpose of
buying a site and building the municipal coliseum, and for the repayment of
any money so loaned or advanced. Payment for the use of money so loaned or
advanced shall be in such form and manner as the board of directors may
determine, and the amount so paid shall not exceed 5% annually on any money
so loaned or advanced. The corporate authorities of such a municipality,
when real estate owned by the municipality is not necessary for any other
municipal purpose, may authorize the use of the real estate for the
municipal coliseum.

The foregoing limitations upon tax rates may be increased or decreased
according to the referendum provisions of the General Revenue Law of
Illinois.

(Source: P.A. 86-1028.)