SB2092 103RD GENERAL ASSEMBLY

LRB103 28616 HLH 54997 b

103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
SB2092

Introduced 2/9/2023, by Sen. Doris Turner

SYNOPSIS AS INTRODUCED:

20 ILCS 2505/2505-810 new

Amends the Department of Revenue Law of the Civil Administrative Code of Illinois. Provides that the Department of Revenue shall establish and administer a State Property Tax Relief Reimbursement Pilot Program for the purpose of reimbursing taxing districts for property tax revenue loss associated with State facilities. Sets forth the amount of the reimbursement. Effective immediately.

A BILL FOR

AN ACT concerning revenue.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Department of Revenue Law of the Civil Administrative Code of Illinois is amended by adding Section 2505-810 as follows:

(20 ILCS 2505/2505-810 new)

Sec. 2505-810. State Property Tax Relief Reimbursement Pilot Program.

(a) For State fiscal years that begin on or after July 1, 2023 and before July 1, 2028, the Department shall establish and administer a State Property Tax Relief Reimbursement Pilot Program. For purposes of the Program, the Department shall reimburse taxing districts, in an amount calculated under subsection (c), for revenue loss associated with Section 15-55 of the Property Tax Code. Reimbursement payments shall be made to the county that applies to the Department of Revenue on behalf of the taxing district under subsection (b) and shall be distributed by the county to the taxing district as directed by the Department of Revenue.

(b) If the county clerk determines that one or more taxing districts located in whole or in part in the county qualify for reimbursement under this Section, then the county clerk shall apply to the Department of Revenue on behalf of the taxing district for reimbursement under this Section in the form and manner required by the Department. The county clerk shall consolidate applications submitted on behalf of more than one taxing district into a single application. The Department of Revenue may audit the information submitted by the county clerk as part of the application under this Section for the purpose of verifying the accuracy of that information.

(c) The amount of the reimbursement shall be the difference between (1) the amount of property tax revenue that would have been required to be collected and distributed to the taxing district for the taxable year that falls 2 years before the start of the State fiscal year if the exemptions under Section 15-55 of the Property Tax Code had not been applied and (2) the amount of property tax revenue that was required to be collected and distributed to the taxing district for that taxable year.

The aggregate amount of reimbursements that may be awarded under this Section for all taxing districts in any calendar year may not exceed $15,000,000. If the total amount of eligible reimbursements under this Section exceeds $15,000,000 in any calendar year, then the reimbursement amount awarded to each particular taxing district shall be reduced on a pro rata basis until the aggregate amount of reimbursements awarded under this Section for the calendar year does not exceed $15,000,000.

(d) The Department of Revenue may adopt rules necessary for the implementation of this Section.

(e) As used in this Section:

"Taxable year" means the calendar year during which property taxes payable in the next succeeding year are levied.

"Taxing district" has the meaning given to that term in Section 1-150 of the Property Tax Code.

Section 99. Effective date. This Act takes effect upon becoming law.