HB2909 EngrossedLRB101 09109 RPS 54202 b

1    AN ACT concerning public employee benefits.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 3. The Property Tax Code is amended by adding
5Section 9-195.1 as follows:
 
6    (35 ILCS 200/9-195.1 new)
7    Sec. 9-195.1. Leases of certain real property. If the
8property located at 558 West De Koven Street in Chicago becomes
9an asset of the Firemen's Annuity and Benefit Fund by operation
10of Section 6-165.3 of the Illinois Pension Code, and if the
11Fund subsequently leases the property to an entity whose
12property is not exempt, then the leasehold estate and the
13appurtenances shall be listed as the property of the lessee or
14his or her assignee. Taxes on that property shall be collected
15in the same manner as on property that is not exempt, and the
16lessee shall be liable for those taxes. However, no tax lien
17shall attach to the exempt real estate.
 
18    Section 5. The Illinois Pension Code is amended by adding
19Section 6-165.3 as follows:
 
20    (40 ILCS 5/6-165.3 new)
21    Sec. 6-165.3. Use of certain real property. If the city

 

 

HB2909 Engrossed- 2 -LRB101 09109 RPS 54202 b

1discontinues use of the property located at 558 West De Koven
2Street in Chicago as an academy for the training of
3firefighters, the city shall, as soon as practicable, transfer
4the property to the Fund. The transferred property shall be
5considered an asset of the Fund, but shall not be considered as
6part of the city's required contribution under Section 6-165 in
7any year or to meet the funding obligation under Section
86-165.2 in any year. In administering the asset, the Fund shall
9exercise its fiduciary duties; however, in accordance with
10those fiduciary duties, the Fund shall prioritize uses that add
11value to the Chicago Fire Department and its membership. If the
12property is transferred to the Fund, the Fund may not sell that
13property without the affirmative vote of the three-fifths of
14the members of the board. The conveyance of the property
15located at 558 West De Koven Street in Chicago is an exclusive
16power and function of the State. This Section is a denial and
17limitation of home rule powers under subsection (h) of Section
186 of Article VII of the Illinois Constitution.
 
19    Section 90. The State Mandates Act is amended by adding
20Section 8.43 as follows:
 
21    (30 ILCS 805/8.43 new)
22    Sec. 8.43. Exempt mandate. Notwithstanding Sections 6 and 8
23of this Act, no reimbursement by the State is required for the
24implementation of any mandate created by this amendatory Act of

 

 

HB2909 Engrossed- 3 -LRB101 09109 RPS 54202 b

1the 101st General Assembly.
 
2    Section 99. Effective date. This Act takes effect upon
3becoming law.