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| | HB2909 Engrossed | | LRB101 09109 RPS 54202 b |
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| 1 | | AN ACT concerning public employee benefits.
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| 2 | | Be it enacted by the People of the State of Illinois,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 3. The Property Tax Code is amended by adding |
| 5 | | Section 9-195.1 as follows:
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| 6 | | (35 ILCS 200/9-195.1 new) |
| 7 | | Sec. 9-195.1. Leases of certain real property. If the |
| 8 | | property located at 558 West De Koven Street in Chicago becomes |
| 9 | | an asset of the Firemen's Annuity and Benefit Fund by operation |
| 10 | | of Section 6-165.3 of the Illinois Pension Code, and if the |
| 11 | | Fund subsequently leases the property to an entity whose |
| 12 | | property is not exempt, then the leasehold estate and the |
| 13 | | appurtenances shall be listed as the property of the lessee or |
| 14 | | his or her assignee. Taxes on that property shall be collected |
| 15 | | in the same manner as on property that is not exempt, and the |
| 16 | | lessee shall be liable for those taxes. However, no tax lien |
| 17 | | shall attach to the exempt real estate.
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| 18 | | Section 5. The Illinois Pension Code is amended by adding |
| 19 | | Section 6-165.3 as follows:
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| 20 | | (40 ILCS 5/6-165.3 new) |
| 21 | | Sec. 6-165.3. Use of certain real property. If the city |
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| | HB2909 Engrossed | - 2 - | LRB101 09109 RPS 54202 b |
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| 1 | | discontinues use of the property located at 558 West De Koven |
| 2 | | Street in Chicago as an academy for the training of |
| 3 | | firefighters, the city shall, as soon as practicable, transfer |
| 4 | | the property to the Fund. The transferred property shall be |
| 5 | | considered an asset of the Fund, but shall not be considered as |
| 6 | | part of the city's required contribution under Section 6-165 in |
| 7 | | any year or to meet the funding obligation under Section |
| 8 | | 6-165.2 in any year. In administering the asset, the Fund shall |
| 9 | | exercise its fiduciary duties; however, in accordance with |
| 10 | | those fiduciary duties, the Fund shall prioritize uses that add |
| 11 | | value to the Chicago Fire Department and its membership. If the |
| 12 | | property is transferred to the Fund, the Fund may not sell that |
| 13 | | property without the affirmative vote of the three-fifths of |
| 14 | | the members of the board. The conveyance of the property |
| 15 | | located at 558 West De Koven Street in Chicago is an exclusive |
| 16 | | power and function of the State. This Section is a denial and |
| 17 | | limitation of home rule powers under subsection (h) of Section |
| 18 | | 6 of Article VII of the Illinois Constitution.
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| 19 | | Section 90. The State Mandates Act is amended by adding |
| 20 | | Section 8.43 as follows:
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| 21 | | (30 ILCS 805/8.43 new) |
| 22 | | Sec. 8.43. Exempt mandate. Notwithstanding Sections 6 and 8 |
| 23 | | of this Act, no reimbursement by the State is required for the |
| 24 | | implementation of any mandate created by this amendatory Act of |