Full Text of HB6760 93rd General Assembly
HB6760sam001 93RD GENERAL ASSEMBLY
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Sen. Dan Cronin
Filed: 5/6/2004
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| AMENDMENT TO HOUSE BILL 6760
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| AMENDMENT NO. ______. Amend House Bill 6760 by replacing | 3 |
| everything after the enacting clause with the following:
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| "Section 5. The Property Tax Code is amended by changing | 5 |
| Section 15-35 as follows:
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| (35 ILCS 200/15-35)
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| Sec. 15-35. Schools. All property donated by the United | 8 |
| States for school
purposes, and all property of schools, not | 9 |
| sold or leased or otherwise used
with a view to profit, is | 10 |
| exempt, whether owned by a resident or non-resident
of this | 11 |
| State or by a corporation incorporated in any state of the | 12 |
| United
States. Also exempt is:
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| (a) property of schools which is leased to a | 14 |
| municipality to be used for
municipal purposes on a | 15 |
| not-for-profit basis;
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| (b) property of schools on which the schools are | 17 |
| located and any other
property of schools used by the | 18 |
| schools exclusively for school purposes,
including, but | 19 |
| not limited to, student residence halls, dormitories and
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| other housing facilities for students and their spouses and | 21 |
| children, staff
housing facilities, and school-owned and | 22 |
| operated dormitory or residence
halls occupied in whole or | 23 |
| in part by students who belong to fraternities,
sororities, | 24 |
| or other campus organizations;
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| (c) property donated, granted, received or used for | 2 |
| public school,
college, theological seminary, university, | 3 |
| or other educational purposes,
whether held in trust or | 4 |
| absolutely;
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| (d) in counties with more than 200,000 inhabitants | 6 |
| which classify
property, property (including interests in | 7 |
| land and other facilities) on or
adjacent to (even if | 8 |
| separated by a public street, alley, sidewalk, parkway or
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| other public way) the grounds of a school, if that property | 10 |
| is used by an
academic, research or professional society, | 11 |
| institute, association or
organization which serves the | 12 |
| advancement of learning in a field or fields of
study | 13 |
| taught by the school and which property is not used with a | 14 |
| view to
profit;
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| (e) property owned by a school district.
The exemption | 16 |
| under this subsection is not affected by any
transaction
in | 17 |
| which, for
the purpose of obtaining financing, the school | 18 |
| district,
directly or
indirectly, leases or otherwise | 19 |
| transfers the property to another for which or
whom | 20 |
| property is not exempt and immediately after the lease or | 21 |
| transfer enters
into a leaseback
or other agreement that | 22 |
| directly or indirectly gives the school district a
right to
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| use, control, and possess the property. In the case of a
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| conveyance
of the property, the school district must retain | 25 |
| an option
to
purchase the property at a future date or, | 26 |
| within the limitations period for
reverters, the property | 27 |
| must revert back to the school district.
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| (1) If the property has been conveyed as described | 29 |
| in this subsection,
the
property is no longer exempt | 30 |
| under this Section as of the date when:
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| (A) the right of the school district to use, | 32 |
| control,
and possess
the property is terminated;
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| (B) the school district no longer has an option | 34 |
| to
purchase or otherwise acquire the property; and
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| (C) there is no provision for a reverter of the | 2 |
| property to the school
district
within the | 3 |
| limitations period for reverters.
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| (2) Pursuant to Sections 15-15 and 15-20 of this | 5 |
| Code, the school
district
shall notify the chief county | 6 |
| assessment officer of
any transaction under this | 7 |
| subsection. The chief county
assessment officer shall
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| determine initial and continuing compliance with the | 9 |
| requirements of this
subsection for tax exemption. | 10 |
| Failure to notify the chief county assessment
officer | 11 |
| of a transaction under this subsection or to otherwise | 12 |
| comply with the
requirements of Sections
15-15 and | 13 |
| 15-20 of this Code shall, in the discretion of the | 14 |
| chief county
assessment officer, constitute cause to | 15 |
| terminate the exemption,
notwithstanding any other | 16 |
| provision of this Code.
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| (3) No provision of this subsection shall be | 18 |
| construed to affect the
obligation
of the school | 19 |
| district to which an exemption certificate has been | 20 |
| issued under
this Section from its obligation
under | 21 |
| Section 15-10 of this Code to file
an annual | 22 |
| certificate of status or to notify the chief county | 23 |
| assessment
officer of transfers of interest or other | 24 |
| changes in the status of the property
as required by | 25 |
| this Code.
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| (4) The changes made by this amendatory Act of the | 27 |
| 91st General Assembly
are declarative of existing law | 28 |
| and shall not be construed as a new
enactment; and
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| (f) in counties with more than 200,000 inhabitants | 30 |
| which
classify
property,
property of a corporation, which | 31 |
| is an exempt entity under paragraph (3) of
Section 501(c) | 32 |
| of the Internal Revenue Code or its successor law, used by | 33 |
| the
corporation for the following purposes: (1) conducting | 34 |
| continuing education
for professional development of |
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| personnel in energy-related industries; (2)
maintaining a | 2 |
| library of energy technology information available to | 3 |
| students
and the public free of charge; and (3) conducting | 4 |
| research in energy and
environment, which research results | 5 |
| could be ultimately accessible to persons
involved in | 6 |
| education ; and
. | 7 |
| (g) property for which a school district enters into a | 8 |
| contract to purchase for its administrative offices and, | 9 |
| for the purpose of obtaining financing, the school | 10 |
| district, prior to the transfer of title to the school | 11 |
| district, transfers or otherwise assigns its interest in | 12 |
| the contract to another entity for which the property is | 13 |
| not otherwise exempt and, thereafter, the school district | 14 |
| enters into a lease or other agreement that, directly or | 15 |
| indirectly, gives the school district the right to use, | 16 |
| control, and possess the property. The lease or other | 17 |
| agreement shall satisfy the ownership requirement for | 18 |
| property tax exemption purposes under this Act if the | 19 |
| school district retains an option to purchase the property | 20 |
| at a future date. The property shall be exempt even if the | 21 |
| title holder, through a trust agreement or otherwise, | 22 |
| issues certificates of participation, the proceeds of | 23 |
| which will be used to finance the acquisition of the | 24 |
| property. The changes made by this amendatory Act of the | 25 |
| 93rd General Assembly are declarative of existing law and | 26 |
| shall not be construed as a new enactment.
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| (Source: P.A. 91-513, eff. 8-13-99; 91-578, eff.
8-14-99; | 28 |
| 92-16, eff. 6-28-01.)".
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