Rep. Daniel J. Burke

Filed: 3/16/2011

 

 


 

 


 
09700HB3313ham001LRB097 02917 HLH 51901 a

1
AMENDMENT TO HOUSE BILL 3313

2    AMENDMENT NO. ______. Amend House Bill 3313 by replacing
3everything after the enacting clause with the following:
 
4    "Section 5. The State Finance Act is amended by adding
5Section 5.786 as follows:
 
6    (30 ILCS 105/5.786 new)
7    Sec. 5.786. The Central Illinois Economic Development
8Authority Debt Fund.
 
9    Section 10. The State Revenue Sharing Act is amended by
10changing Sections 1 and 12 as follows:
 
11    (30 ILCS 115/1)  (from Ch. 85, par. 611)
12    Sec. 1. Local Government Distributive Fund. Through June
1330, 1994, as soon as may be after the first day of each month
14the Department of Revenue shall certify to the Treasurer an

 

 

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1amount equal to 1/12 of the net revenue realized from the tax
2imposed by subsections (a) and (b) of Section 201 of the
3Illinois Income Tax Act during the preceding month. Beginning
4July 1, 1994, and continuing through June 30, 1995, as soon as
5may be after the first day of each month, the Department of
6Revenue shall certify to the Treasurer an amount equal to 1/11
7of the net revenue realized from the tax imposed by subsections
8(a) and (b) of Section 201 of the Illinois Income Tax Act
9during the preceding month. Beginning July 1, 1995, as soon as
10may be after the first day of each month, the Department of
11Revenue shall certify to the Treasurer the amount required to
12be transferred from the General Revenue Fund to the Local
13Government Distributive Fund under subsection (b) of Section
14901 of the Illinois Income Tax Act. an amount equal to 1/10 of
15the net revenue realized from the tax imposed by subsections
16(a) and (b) of Section 201 of the Illinois Income Tax Act
17during the preceding month. Net revenue realized for a month
18shall be defined as the revenue from the tax imposed by
19subsections (a) and (b) of Section 201 of the Illinois Income
20Tax Act which is deposited in the General Revenue Fund, the
21Education Assistance Fund and the Income Tax Surcharge Local
22Government Distributive Fund during the month minus the amount
23paid out of the General Revenue Fund in State warrants during
24that same month as refunds to taxpayers for overpayment of
25liability under the tax imposed by subsections (a) and (b) of
26Section 201 of the Illinois Income Tax Act. Upon receipt of

 

 

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1such certification, the Treasurer shall transfer from the
2General Revenue Fund to a special fund in the State treasury,
3to be known as the "Local Government Distributive Fund", the
4amount shown on such certification.
5    The corporate authorities of any unit of local government
6located in Macon, Sangamon, Menard, Logan, Christian, DeWitt,
7Macoupin, Montgomery, Calhoun, Green, or Jersey County may
8elect, by a majority vote of the corporate authorities, to make
9deposits into the Central Illinois Economic Development
10Authority Debt Fund from its respective share of the funds
11distributed from the Local Government Distributive Fund.
12    All amounts paid into the Local Government Distributive
13Fund in accordance with this Section and allocated pursuant to
14this Act are appropriated on a continuing basis.
15(Source: P.A. 88-89.)
 
16    (30 ILCS 115/12)  (from Ch. 85, par. 616)
17    Sec. 12. Personal Property Tax Replacement Fund. There is
18hereby created the Personal Property Tax Replacement Fund, a
19special fund in the State Treasury into which shall be paid all
20revenue realized:
21    (a) all amounts realized from the additional personal
22property tax replacement income tax imposed by subsections (c)
23and (d) of Section 201 of the Illinois Income Tax Act, except
24for those amounts deposited into the Income Tax Refund Fund
25pursuant to subsection (c) of Section 901 of the Illinois

 

 

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1Income Tax Act; and
2    (b) all amounts realized from the additional personal
3property replacement invested capital taxes imposed by Section
42a.1 of the Messages Tax Act, Section 2a.1 of the Gas Revenue
5Tax Act, Section 2a.1 of the Public Utilities Revenue Act, and
6Section 3 of the Water Company Invested Capital Tax Act, and
7amounts payable to the Department of Revenue under the
8Telecommunications Infrastructure Maintenance Fee Act.
9    As soon as may be after the end of each month, the
10Department of Revenue shall certify to the Treasurer and the
11Comptroller the amount of all refunds paid out of the General
12Revenue Fund through the preceding month on account of
13overpayment of liability on taxes paid into the Personal
14Property Tax Replacement Fund. Upon receipt of such
15certification, the Treasurer and the Comptroller shall
16transfer the amount so certified from the Personal Property Tax
17Replacement Fund into the General Revenue Fund.
18    The payments of revenue into the Personal Property Tax
19Replacement Fund shall be used exclusively for distribution to
20taxing districts as provided in this Section, payment of the
21ordinary and contingent expenses of the Property Tax Appeal
22Board, payment of the expenses of the Department of Revenue
23incurred in administering the collection and distribution of
24monies paid into the Personal Property Tax Replacement Fund and
25transfers due to refunds to taxpayers for overpayment of
26liability for taxes paid into the Personal Property Tax

 

 

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1Replacement Fund.
2    As soon as may be after the effective date of this
3amendatory Act of 1980, the Department of Revenue shall certify
4to the Treasurer the amount of net replacement revenue paid
5into the General Revenue Fund prior to that effective date from
6the additional tax imposed by Section 2a.1 of the Messages Tax
7Act; Section 2a.1 of the Gas Revenue Tax Act; Section 2a.1 of
8the Public Utilities Revenue Act; Section 3 of the Water
9Company Invested Capital Tax Act; amounts collected by the
10Department of Revenue under the Telecommunications
11Infrastructure Maintenance Fee Act; and the additional
12personal property tax replacement income tax imposed by the
13Illinois Income Tax Act, as amended by Public Act 81-1st
14Special Session-1. Net replacement revenue shall be defined as
15the total amount paid into and remaining in the General Revenue
16Fund as a result of those Acts minus the amount outstanding and
17obligated from the General Revenue Fund in state vouchers or
18warrants prior to the effective date of this amendatory Act of
191980 as refunds to taxpayers for overpayment of liability under
20those Acts.
21    All interest earned by monies accumulated in the Personal
22Property Tax Replacement Fund shall be deposited in such Fund.
23All amounts allocated pursuant to this Section are appropriated
24on a continuing basis.
25    Prior to December 31, 1980, as soon as may be after the end
26of each quarter beginning with the quarter ending December 31,

 

 

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11979, and on and after December 31, 1980, as soon as may be
2after January 1, March 1, April 1, May 1, July 1, August 1,
3October 1 and December 1 of each year, the Department of
4Revenue shall allocate to each taxing district as defined in
5Section 1-150 of the Property Tax Code, in accordance with the
6provisions of paragraph (2) of this Section the portion of the
7funds held in the Personal Property Tax Replacement Fund which
8is required to be distributed, as provided in paragraph (1),
9for each quarter. Provided, however, under no circumstances
10shall any taxing district during each of the first two years of
11distribution of the taxes imposed by this amendatory Act of
121979 be entitled to an annual allocation which is less than the
13funds such taxing district collected from the 1978 personal
14property tax. Provided further that under no circumstances
15shall any taxing district during the third year of distribution
16of the taxes imposed by this amendatory Act of 1979 receive
17less than 60% of the funds such taxing district collected from
18the 1978 personal property tax. In the event that the total of
19the allocations made as above provided for all taxing
20districts, during either of such 3 years, exceeds the amount
21available for distribution the allocation of each taxing
22district shall be proportionately reduced. Except as provided
23in Section 13 of this Act, the Department shall then certify,
24pursuant to appropriation, such allocations to the State
25Comptroller who shall pay over to the several taxing districts
26the respective amounts allocated to them.

 

 

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1    Any township which receives an allocation based in whole or
2in part upon personal property taxes which it levied pursuant
3to Section 6-507 or 6-512 of the Illinois Highway Code and
4which was previously required to be paid over to a municipality
5shall immediately pay over to that municipality a proportionate
6share of the personal property replacement funds which such
7township receives.
8    Any municipality or township, other than a municipality
9with a population in excess of 500,000, which receives an
10allocation based in whole or in part on personal property taxes
11which it levied pursuant to Sections 3-1, 3-4 and 3-6 of the
12Illinois Local Library Act and which was previously required to
13be paid over to a public library shall immediately pay over to
14that library a proportionate share of the personal property tax
15replacement funds which such municipality or township
16receives; provided that if such a public library has converted
17to a library organized under The Illinois Public Library
18District Act, regardless of whether such conversion has
19occurred on, after or before January 1, 1988, such
20proportionate share shall be immediately paid over to the
21library district which maintains and operates the library.
22However, any library that has converted prior to January 1,
231988, and which hitherto has not received the personal property
24tax replacement funds, shall receive such funds commencing on
25January 1, 1988.
26    Any township which receives an allocation based in whole or

 

 

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1in part on personal property taxes which it levied pursuant to
2Section 1c of the Public Graveyards Act and which taxes were
3previously required to be paid over to or used for such public
4cemetery or cemeteries shall immediately pay over to or use for
5such public cemetery or cemeteries a proportionate share of the
6personal property tax replacement funds which the township
7receives.
8    Any taxing district which receives an allocation based in
9whole or in part upon personal property taxes which it levied
10for another governmental body or school district in Cook County
11in 1976 or for another governmental body or school district in
12the remainder of the State in 1977 shall immediately pay over
13to that governmental body or school district the amount of
14personal property replacement funds which such governmental
15body or school district would receive directly under the
16provisions of paragraph (2) of this Section, had it levied its
17own taxes.
18        (1) The portion of the Personal Property Tax
19    Replacement Fund required to be distributed as of the time
20    allocation is required to be made shall be the amount
21    available in such Fund as of the time allocation is
22    required to be made.
23        The amount available for distribution shall be the
24    total amount in the fund at such time minus the necessary
25    administrative expenses as limited by the appropriation
26    and the amount determined by: (a) $2.8 million for fiscal

 

 

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1    year 1981; (b) for fiscal year 1982, .54% of the funds
2    distributed from the fund during the preceding fiscal year;
3    (c) for fiscal year 1983 through fiscal year 1988, .54% of
4    the funds distributed from the fund during the preceding
5    fiscal year less .02% of such fund for fiscal year 1983 and
6    less .02% of such funds for each fiscal year thereafter, or
7    (d) for fiscal year 1989 and beyond no more than 105% of
8    the actual administrative expenses of the prior fiscal
9    year. Such portion of the fund shall be determined after
10    the transfer into the General Revenue Fund due to refunds,
11    if any, paid from the General Revenue Fund during the
12    preceding quarter. If at any time, for any reason, there is
13    insufficient amount in the Personal Property Tax
14    Replacement Fund for payment of costs of administration or
15    for transfers due to refunds at the end of any particular
16    month, the amount of such insufficiency shall be carried
17    over for the purposes of transfers into the General Revenue
18    Fund and for purposes of costs of administration to the
19    following month or months. Net replacement revenue held,
20    and defined above, shall be transferred by the Treasurer
21    and Comptroller to the Personal Property Tax Replacement
22    Fund within 10 days of such certification.
23        (2) Each quarterly allocation shall first be
24    apportioned in the following manner: 51.65% for taxing
25    districts in Cook County and 48.35% for taxing districts in
26    the remainder of the State.

 

 

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1    The Personal Property Replacement Ratio of each taxing
2district outside Cook County shall be the ratio which the Tax
3Base of that taxing district bears to the Downstate Tax Base.
4The Tax Base of each taxing district outside of Cook County is
5the personal property tax collections for that taxing district
6for the 1977 tax year. The Downstate Tax Base is the personal
7property tax collections for all taxing districts in the State
8outside of Cook County for the 1977 tax year. The Department of
9Revenue shall have authority to review for accuracy and
10completeness the personal property tax collections for each
11taxing district outside Cook County for the 1977 tax year.
12    The Personal Property Replacement Ratio of each Cook County
13taxing district shall be the ratio which the Tax Base of that
14taxing district bears to the Cook County Tax Base. The Tax Base
15of each Cook County taxing district is the personal property
16tax collections for that taxing district for the 1976 tax year.
17The Cook County Tax Base is the personal property tax
18collections for all taxing districts in Cook County for the
191976 tax year. The Department of Revenue shall have authority
20to review for accuracy and completeness the personal property
21tax collections for each taxing district within Cook County for
22the 1976 tax year.
23    For all purposes of this Section 12, amounts paid to a
24taxing district for such tax years as may be applicable by a
25foreign corporation under the provisions of Section 7-202 of
26the Public Utilities Act, as amended, shall be deemed to be

 

 

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1personal property taxes collected by such taxing district for
2such tax years as may be applicable. The Director shall
3determine from the Illinois Commerce Commission, for any tax
4year as may be applicable, the amounts so paid by any such
5foreign corporation to any and all taxing districts. The
6Illinois Commerce Commission shall furnish such information to
7the Director. For all purposes of this Section 12, the Director
8shall deem such amounts to be collected personal property taxes
9of each such taxing district for the applicable tax year or
10years.
11    Taxing districts located both in Cook County and in one or
12more other counties shall receive both a Cook County allocation
13and a Downstate allocation determined in the same way as all
14other taxing districts.
15    If any taxing district in existence on July 1, 1979 ceases
16to exist, or discontinues its operations, its Tax Base shall
17thereafter be deemed to be zero. If the powers, duties and
18obligations of the discontinued taxing district are assumed by
19another taxing district, the Tax Base of the discontinued
20taxing district shall be added to the Tax Base of the taxing
21district assuming such powers, duties and obligations.
22    If two or more taxing districts in existence on July 1,
231979, or a successor or successors thereto shall consolidate
24into one taxing district, the Tax Base of such consolidated
25taxing district shall be the sum of the Tax Bases of each of
26the taxing districts which have consolidated.

 

 

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1    If a single taxing district in existence on July 1, 1979,
2or a successor or successors thereto shall be divided into two
3or more separate taxing districts, the tax base of the taxing
4district so divided shall be allocated to each of the resulting
5taxing districts in proportion to the then current equalized
6assessed value of each resulting taxing district.
7    If a portion of the territory of a taxing district is
8disconnected and annexed to another taxing district of the same
9type, the Tax Base of the taxing district from which
10disconnection was made shall be reduced in proportion to the
11then current equalized assessed value of the disconnected
12territory as compared with the then current equalized assessed
13value within the entire territory of the taxing district prior
14to disconnection, and the amount of such reduction shall be
15added to the Tax Base of the taxing district to which
16annexation is made.
17    If a community college district is created after July 1,
181979, beginning on the effective date of this amendatory Act of
191995, its Tax Base shall be 3.5% of the sum of the personal
20property tax collected for the 1977 tax year within the
21territorial jurisdiction of the district.
22    The amounts allocated and paid to taxing districts pursuant
23to the provisions of this amendatory Act of 1979 shall be
24deemed to be substitute revenues for the revenues derived from
25taxes imposed on personal property pursuant to the provisions
26of the "Revenue Act of 1939" or "An Act for the assessment and

 

 

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1taxation of private car line companies", approved July 22,
21943, as amended, or Section 414 of the Illinois Insurance
3Code, prior to the abolition of such taxes and shall be used
4for the same purposes as the revenues derived from ad valorem
5taxes on real estate.
6    Monies received by any taxing districts from the Personal
7Property Tax Replacement Fund shall be first applied toward
8payment of the proportionate amount of debt service which was
9previously levied and collected from extensions against
10personal property on bonds outstanding as of December 31, 1978
11and next applied toward payment of the proportionate share of
12the pension or retirement obligations of the taxing district
13which were previously levied and collected from extensions
14against personal property. For each such outstanding bond
15issue, the County Clerk shall determine the percentage of the
16debt service which was collected from extensions against real
17estate in the taxing district for 1978 taxes payable in 1979,
18as related to the total amount of such levies and collections
19from extensions against both real and personal property. For
201979 and subsequent years' taxes, the County Clerk shall levy
21and extend taxes against the real estate of each taxing
22district which will yield the said percentage or percentages of
23the debt service on such outstanding bonds. The balance of the
24amount necessary to fully pay such debt service shall
25constitute a first and prior lien upon the monies received by
26each such taxing district through the Personal Property Tax

 

 

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1Replacement Fund and shall be first applied or set aside for
2such purpose. In counties having fewer than 3,000,000
3inhabitants, the amendments to this paragraph as made by this
4amendatory Act of 1980 shall be first applicable to 1980 taxes
5to be collected in 1981.
6    The corporate authorities of any unit of local government
7located in Macon, Sangamon, Menard, Logan, Christian, DeWitt,
8Macoupin, Montgomery, Calhoun, Green, or Jersey County may
9elect, by a majority vote of the corporate authorities, to make
10deposits into the Central Illinois Economic Development
11Authority Debt Fund from its respective share of the funds
12distributed from the Personal Property Tax Replacement Fund.
13(Source: P.A. 96-45, eff. 7-15-09.)
 
14    Section 15. The Central Illinois Economic Development
15Authority Act is amended by adding Section 42 as follows:
 
16    (70 ILCS 504/42 new)
17    Sec. 42. Central Illinois Economic Development Authority
18Debt Fund; creation. The Central Illinois Economic Development
19Authority Debt Fund is created as a special fund in the State
20treasury. Except as otherwise provided in this Section, moneys
21in the Central Illinois Economic Development Authority Debt
22Fund are allocated to and shall be appropriated by law to the
23Authority for the purpose of paying the debt service
24requirements on all bonds and notes issued under subsection (a)

 

 

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1of Section 35 of this Act. If at any time moneys in the Central
2Illinois Economic Development Authority Debt Fund exceed the
3amount required to pay debt service on bonds and notes issued
4under subsection (a) of Section 35 of this Act, the Authority
5must report that fact to the Governor and the General Assembly
6in writing within 180 days after the surplus occurs.
 
7    Section 99. Effective date. This Act takes effect upon
8becoming law.".