Sen. Don Harmon
Filed: 5/27/2009
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| 1 | AMENDMENT TO HOUSE BILL 4046
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| 2 | AMENDMENT NO. ______. Amend House Bill 4046 by replacing | ||||||
| 3 | everything after the enacting clause with the following:
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| 4 | "Section 5. The Property Tax Code is amended by changing | ||||||
| 5 | Section 15-185 as follows:
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| 6 | (35 ILCS 200/15-185)
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| 7 | Sec. 15-185. Exemption for leaseback property and | ||||||
| 8 | qualified leased property.
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| 9 | (a) Notwithstanding anything in this Code to
the
contrary, | ||||||
| 10 | all property owned by a municipality with a population of over
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| 11 | 500,000
inhabitants, or a unit of local government whose | ||||||
| 12 | jurisdiction includes
territory located in
whole or in part | ||||||
| 13 | within a municipality with a population of over 500,000
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| 14 | inhabitants, or a municipality with home rule powers that is | ||||||
| 15 | contiguous to a municipality with a population of over 500,000 | ||||||
| 16 | inhabitants,
shall remain exempt from taxation and any | ||||||
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| 1 | leasehold interest in that property
shall not be
subject to | ||||||
| 2 | taxation under Section 9-195 if
the
property is directly or | ||||||
| 3 | indirectly leased, sold, or otherwise transferred to
another | ||||||
| 4 | entity
whose property is not exempt and immediately thereafter | ||||||
| 5 | is the subject of a
leaseback or
other agreement that directly | ||||||
| 6 | or indirectly gives the municipality or unit of
local
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| 7 | government (i) a right to use, control, and possess the | ||||||
| 8 | property or (ii) a
right to require
the other entity, or the | ||||||
| 9 | other entity's designee or assignee, to use the
property in the
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| 10 | performance of services for the municipality or unit of local | ||||||
| 11 | government. Property
shall no longer be exempt under this | ||||||
| 12 | subsection as of the date when the right of
the
municipality or | ||||||
| 13 | unit of local government to use, control, and possess the
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| 14 | property or to
require the performance of services is | ||||||
| 15 | terminated and the municipality or unit
of local
government no | ||||||
| 16 | longer has any option to purchase or otherwise reacquire the
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| 17 | interest in
the property which was transferred by the | ||||||
| 18 | municipality or unit of local
government.
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| 19 | (b) Notwithstanding anything in this Code to
the
contrary, | ||||||
| 20 | all property owned by a municipality with a population of over
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| 21 | 500,000
inhabitants, or a unit of local government whose | ||||||
| 22 | jurisdiction includes
territory located in
whole or in part | ||||||
| 23 | within a municipality with a population of over 500,000
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| 24 | inhabitants, or a municipality with home rule powers that is | ||||||
| 25 | contiguous to a municipality with a population of over 500,000 | ||||||
| 26 | inhabitants,
shall remain exempt from taxation and any | ||||||
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| 1 | leasehold interest in that property
is not
subject to taxation | ||||||
| 2 | under Section 9-195 if the property, including dedicated public | ||||||
| 3 | property, is used by a municipality or other unit of local | ||||||
| 4 | government for the purpose of an airport or parking or for | ||||||
| 5 | waste disposal or processing and is leased for continued use | ||||||
| 6 | for the same purpose to another entity whose property is not | ||||||
| 7 | exempt. | ||||||
| 8 | For the purposes of this subsection (b), "airport" does not | ||||||
| 9 | include any airport property, as defined under Section 10 of | ||||||
| 10 | the O'Hare Modernization Act. | ||||||
| 11 | Any transaction described under this subsection must be | ||||||
| 12 | undertaken in accordance with all appropriate federal laws and | ||||||
| 13 | regulations. | ||||||
| 14 | (c) For purposes of this Section, "municipality" means a | ||||||
| 15 | municipality as defined
in
Section 1-1-2 of the Illinois | ||||||
| 16 | Municipal Code, and "unit of local government"
means a unit
of | ||||||
| 17 | local government as defined in Article VII, Section 1 of the | ||||||
| 18 | Constitution of
the State of
Illinois. The provisions of this | ||||||
| 19 | Section supersede and control over any
conflicting
provisions | ||||||
| 20 | of this Code.
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| 21 | (Source: P.A. 93-19, eff. 6-20-03; 94-750, eff. 5-9-06.)
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| 22 | Section 99. Effective date. This Act takes effect upon | ||||||
| 23 | becoming law.".
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