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96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
HB3591
Introduced 2/24/2009, by Rep. Tom Cross - Dennis M. Reboletti SYNOPSIS AS INTRODUCED:
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Amends the O'Hare Modernization Act. Makes a technical change in a Section
regarding reimbursement for tax base losses. |
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A BILL FOR
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HB3591 |
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LRB096 10473 AJT 20645 b |
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| AN ACT concerning transportation.
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| Be it enacted by the People of the State of Illinois, |
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| represented in the General Assembly:
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| Section 5. The O'Hare Modernization Act is amended by |
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| changing Section 21 as follows:
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| (620 ILCS 65/21)
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| Sec. 21. Reimbursement for tax base losses.
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| (a) Whenever the the City acquires parcels of property
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| within any school district or community college district
for |
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| the O'Hare
Modernization Program, the City shall, for the |
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| following taxable year and for
each of the 5 taxable years |
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| thereafter, pay to that district the amount of the
total |
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| property tax liability of the acquired parcels to the district |
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| for the
2002
taxable year, increased or decreased each year by |
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| the percentage change of the
district's total tax extension for |
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| the current taxable year from the total tax
extension for the
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| prior taxable year; provided that no annual increase shall |
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| exceed the lesser of
5% or the annual increase in
the Consumer |
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| Price Index. Funds payable by the City under this Section shall |
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| be
paid
exclusively from non-tax revenues generated at airports |
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| owned by the City, and
shall not
exceed the amount of those |
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| funds that can be paid for that purpose under 49
U.S.C. |
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| 47107(l)(2).
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HB3591 |
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LRB096 10473 AJT 20645 b |
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| (b) Notwithstanding any other provision of this Section: |
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| (i) no funds shall
be payable by the City under this Section |
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| with respect to any taxable year
succeeding the 2009 taxable |
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| year; (ii) in no event shall such funds be payable
on or after |
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| January 1, 2010; (iii) in no event shall the total funds paid
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| by the City pursuant to this Section to all districts for all |
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| taxable years
exceed $20,000,000; and (iv) any amounts payable |
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| to a district by the City with
respect to any
parcel of |
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| property for any taxable year shall be reduced by the amount of |
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| taxes
actually paid to the district for that taxable year with |
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| respect to that parcel
or any leasehold interest therein.
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| (c) Whenever the City acquires property that is subject to |
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| this Section, the
City shall notify the assessor of the county |
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| in which the property is located.
The assessor or the clerk of |
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| that county shall, on an annual basis, notify the
affected |
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| school district or community college district of all property |
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| that has
been identified as being subject to this
Section, and |
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| shall provide the district and the City with such information |
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| as
may be required in determining the amounts payable by the |
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| City under this
Section. The City shall make payments as |
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| required by this Section no later than
90 days after that |
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| information is received and verified by the City.
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| (d) As used in this Section, "Consumer Price Index" means |
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| the Consumer Price
Index for All Urban Consumers for all items |
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| published by the United States
Department of Labor.
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| (Source: P.A. 93-450, eff. 8-6-03.)
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