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Sen. Don Harmon
Filed: 5/27/2009
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09600HB4046sam002 |
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LRB096 11803 HLH 27558 a |
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| AMENDMENT TO HOUSE BILL 4046
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| AMENDMENT NO. ______. Amend House Bill 4046 by replacing |
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| everything after the enacting clause with the following:
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| "Section 5. The Property Tax Code is amended by changing |
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| Section 15-185 as follows:
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| (35 ILCS 200/15-185)
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| Sec. 15-185. Exemption for leaseback property and |
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| qualified leased property.
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| (a) Notwithstanding anything in this Code to
the
contrary, |
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| all property owned by a municipality with a population of over
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| 500,000
inhabitants, or a unit of local government whose |
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| jurisdiction includes
territory located in
whole or in part |
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| within a municipality with a population of over 500,000
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| inhabitants, or a municipality with home rule powers that is |
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| contiguous to a municipality with a population of over 500,000 |
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| inhabitants,
shall remain exempt from taxation and any |
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09600HB4046sam002 |
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LRB096 11803 HLH 27558 a |
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| leasehold interest in that property
shall not be
subject to |
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| taxation under Section 9-195 if
the
property is directly or |
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| indirectly leased, sold, or otherwise transferred to
another |
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| entity
whose property is not exempt and immediately thereafter |
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| is the subject of a
leaseback or
other agreement that directly |
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| or indirectly gives the municipality or unit of
local
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| government (i) a right to use, control, and possess the |
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| property or (ii) a
right to require
the other entity, or the |
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| other entity's designee or assignee, to use the
property in the
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| performance of services for the municipality or unit of local |
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| government. Property
shall no longer be exempt under this |
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| subsection as of the date when the right of
the
municipality or |
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| unit of local government to use, control, and possess the
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| property or to
require the performance of services is |
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| terminated and the municipality or unit
of local
government no |
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| longer has any option to purchase or otherwise reacquire the
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| interest in
the property which was transferred by the |
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| municipality or unit of local
government.
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| (b) Notwithstanding anything in this Code to
the
contrary, |
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| all property owned by a municipality with a population of over
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| 500,000
inhabitants, or a unit of local government whose |
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| jurisdiction includes
territory located in
whole or in part |
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| within a municipality with a population of over 500,000
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| inhabitants, or a municipality with home rule powers that is |
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| contiguous to a municipality with a population of over 500,000 |
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| inhabitants,
shall remain exempt from taxation and any |
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09600HB4046sam002 |
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LRB096 11803 HLH 27558 a |
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| leasehold interest in that property
is not
subject to taxation |
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| under Section 9-195 if the property, including dedicated public |
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| property, is used by a municipality or other unit of local |
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| government for the purpose of an airport or parking or for |
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| waste disposal or processing and is leased for continued use |
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| for the same purpose to another entity whose property is not |
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| exempt. |
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| For the purposes of this subsection (b), "airport" does not |
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| include any airport property, as defined under Section 10 of |
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| the O'Hare Modernization Act. |
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| Any transaction described under this subsection must be |
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| undertaken in accordance with all appropriate federal laws and |
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| regulations. |
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| (c) For purposes of this Section, "municipality" means a |
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| municipality as defined
in
Section 1-1-2 of the Illinois |
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| Municipal Code, and "unit of local government"
means a unit
of |
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| local government as defined in Article VII, Section 1 of the |
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| Constitution of
the State of
Illinois. The provisions of this |
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| Section supersede and control over any
conflicting
provisions |
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| of this Code.
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| (Source: P.A. 93-19, eff. 6-20-03; 94-750, eff. 5-9-06.)
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| Section 99. Effective date. This Act takes effect upon |
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| becoming law.".
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