96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
HB3591


 
Introduced 2/24/2009, by Rep. Tom Cross - Dennis M. Reboletti
 
SYNOPSIS AS INTRODUCED:
 		







  



620 ILCS 65/21










    Amends the O'Hare Modernization Act.  Makes a technical change in a Section
regarding reimbursement for tax base losses.















LRB096 10473 AJT 20645 b

















 


 


A BILL FOR









 











HB3591

LRB096 10473 AJT 20645 b






1
    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 
10
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 
12
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

17
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 
19
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 
22
funds that can be paid for that purpose under 49
U.S.C. 
23
47107(l)(2).

 


 






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 
4
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 
20
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 
22
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.)