093_SB0802ham012

 










                                     LRB093 02941 RCE 17161 a

 1                    AMENDMENT TO SENATE BILL 802

 2        AMENDMENT NO.     .  Amend Senate Bill 802,  AS  AMENDED,
 3    with  reference  to  page and line numbers of House Amendment
 4    No. 9, by changing "the west" each time it  appears  to  "the
 5    east"  in  each of the following places: page 4, line 12; and
 6    page 4, line 16; and

 7    by replacing page 6 and lines 1 through 6 on page 7 with  the
 8    following:

 9        "Section 21.  Reimbursement for tax base losses.
10        (a)  Whenever  the  City  acquires  parcels  of  property
11    within  any school district or community college district for
12    the O'Hare Modernization Program, the  City  shall,  for  the
13    following  taxable  year  and for each of the 5 taxable years
14    thereafter, pay to that district  the  amount  of  the  total
15    property  tax  liability  of  the  acquired  parcels  to  the
16    district  for  the  2002 taxable year, increased or decreased
17    each year by the percentage change of  the  district's  total
18    tax extension for the current taxable year from the total tax
19    extension for the prior taxable year; provided that no annual
20    increase shall exceed the lesser of 5% or the annual increase
21    in  the Consumer Price Index. Funds payable by the City under
22    this Section shall be paid exclusively from non-tax  revenues
 
                            -2-      LRB093 02941 RCE 17161 a
 1    generated at airports owned by the City, and shall not exceed
 2    the  amount  of those funds that can be paid for that purpose
 3    under 49 U.S.C. 47107(l)(2).
 4        (b)  Notwithstanding any other provision of this Section:
 5    (i) no funds shall be payable by the City under this  Section
 6    with  respect to any taxable year succeeding the 2009 taxable
 7    year; (ii) in no event shall such  funds  be  payable  on  or
 8    after  January  1,  2010;  (iii)  in no event shall the total
 9    funds paid by the  City  pursuant  to  this  Section  to  all
10    districts  for all taxable years exceed $20,000,000; and (iv)
11    any amounts payable to a district by the City with respect to
12    any parcel of property for any taxable year shall be  reduced
13    by the amount of taxes actually paid to the district for that
14    taxable  year  with  respect  to that parcel or any leasehold
15    interest therein.
16        (c)  Whenever the City acquires property that is  subject
17    to  this  Section,  the City shall notify the assessor of the
18    county in which the property is located. The assessor or  the
19    clerk  of  that  county shall, on an annual basis, notify the
20    affected school district or community college district of all
21    property that has been identified as being  subject  to  this
22    Section,  and  shall  provide  the district and the City with
23    such information  as  may  be  required  in  determining  the
24    amounts  payable  by  the  City  under this Section. The City
25    shall make payments as required by this Section no later than
26    90 days after that information is received  and  verified  by
27    the City.
28        (d)  As  used  in  this  Section,  "Consumer Price Index"
29    means the Consumer Price Index for All  Urban  Consumers  for
30    all  items  published  by  the  United  States  Department of
31    Labor"; and

32    by changing "the west" each time it appears to "the east"  in
33    each  of the following places: page 18, line 31; and page 19,
34    line 2.