Rep. Thaddeus Jones
Filed: 3/10/2011
 
 

 

 

 
09700HB0212ham001LRB097 02920 HLH 51712 a



1
AMENDMENT TO HOUSE BILL 212 




2    AMENDMENT NO. ______. Amend House Bill 212 by replacing 
3everything after the enacting clause with the following:

 
4    "Section 5. The Property Tax Code is amended  by adding 
5Section 18-184.10 as follows:
 
6    (35 ILCS 200/18-184.10 new)
7    Sec. 18-184.10. Business corridors; abatement.
8    (a) The county clerk shall abate property taxes levied by 
9an affected taxing district on property that meets the 
10following requirements: 
11        (1)  the property does not qualify as exempt property 
12    under Section 15-95 of this Code; and 
13        (2)  the property is situated in a business corridor 
14    created by intergovernmental agreement between 2 adjoining 
15    disadvantaged municipalities.
16    (b)  A business corridor created under this Section shall 
 
 
09700HB0212ham001- 2 -LRB097 02920 HLH 51712 a

1encompass only territory along the common border of the 
2municipalities that is (i) undeveloped or underdeveloped and 
3(ii) not likely to be developed without the creation of the 
4business corridor. 
5    The intergovernmental agreement shall specify the 
6territory to be included in the business corridor.  The 
7agreement shall also provide for the percentage amount and 
8duration of an abatement under this Section and for any other 
9provision necessary to carry out the provisions of this 
10Section. No abatement under this Section shall exceed 10 years 
11in duration. Upon adoption of the agreement provided for under 
12this Section, the municipalities must deliver a certified copy 
13of the agreement to the county clerk. 
14    (c) As used in this Section:
15    "Affected taxing district" means both (i) municipalities 
16party to the intergovernmental agreement and (ii) any school 
17district that (A) levies property taxes upon property in the 
18business corridor and (B) has maintained an unrestricted fund 
19balance of at least 20% of its total direct expenditures for 
20the most recent 2 years that data is available, as reported in 
21the districts' Annual Financial Reports to the Illinois State 
22Board of Education.
23    "Disadvantaged municipality" means a municipality with (i) 
24a per capita equalized assessed valuation (EAV) less than 60% 
25of the State average and (ii) more than 15% of its population 
26below the national poverty level.".