Full Text of HB2975 97th General Assembly
HB2975 97TH GENERAL ASSEMBLY |
| | 97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012 HB2975 Introduced 2/23/2011, by Rep. Karen May SYNOPSIS AS INTRODUCED: |
| 35 ILCS 200/18-185 |
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40 ILCS 5/3-145 | from Ch. 108 1/2, par. 3-145 |
40 ILCS 5/7-134 | from Ch. 108 1/2, par. 7-134 |
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Amends the Property Tax Extension Limitation Law of the Property Tax Code. Excludes from the definition of the term "aggregate extension" extensions made by a taxing district for contributions to a pension or retirement fund created under the Downstate Police, Downstate Fire, or IMRF Articles of the Illinois Pension Code for the first 5 taxable years after the taxing district first participates in such a system. Amends the Downstate Police and IMRF Articles of the Illinois Pension Code. Requires the referenda questions used to create a pension or retirement fund under the specified Articles to also authorize the levying of an annual tax for the purpose of participation in that fund.
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| | FISCAL NOTE ACT MAY APPLY | HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY | PENSION IMPACT NOTE ACT MAY APPLY |
| | A BILL FOR |
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| 1 | | AN ACT concerning public employee benefits.
| 2 | | Be it enacted by the People of the State of Illinois,
| 3 | | represented in the General Assembly:
| 4 | | Section 5. The Property Tax Code is amended by changing | 5 | | Section 18-185 as follows: | 6 | | (35 ILCS 200/18-185)
| 7 | | Sec. 18-185. Short title; definitions. This Division 5 may | 8 | | be cited as the
Property Tax Extension Limitation Law. As used | 9 | | in this Division 5:
| 10 | | "Consumer Price Index" means the Consumer Price Index for | 11 | | All Urban
Consumers for all items published by the United | 12 | | States Department of Labor.
| 13 | | "Extension limitation" means (a) the lesser of 5% or the | 14 | | percentage increase
in the Consumer Price Index during the | 15 | | 12-month calendar year preceding the
levy year or (b) the rate | 16 | | of increase approved by voters under Section 18-205.
| 17 | | "Affected county" means a county of 3,000,000 or more | 18 | | inhabitants or a
county contiguous to a county of 3,000,000 or | 19 | | more inhabitants.
| 20 | | "Taxing district" has the same meaning provided in Section | 21 | | 1-150, except as
otherwise provided in this Section. For the | 22 | | 1991 through 1994 levy years only,
"taxing district" includes | 23 | | only each non-home rule taxing district having the
majority of |
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| 1 | | its
1990 equalized assessed value within any county or counties | 2 | | contiguous to a
county with 3,000,000 or more inhabitants. | 3 | | Beginning with the 1995 levy
year, "taxing district" includes | 4 | | only each non-home rule taxing district
subject to this Law | 5 | | before the 1995 levy year and each non-home rule
taxing | 6 | | district not subject to this Law before the 1995 levy year | 7 | | having the
majority of its 1994 equalized assessed value in an | 8 | | affected county or
counties. Beginning with the levy year in
| 9 | | which this Law becomes applicable to a taxing district as
| 10 | | provided in Section 18-213, "taxing district" also includes | 11 | | those taxing
districts made subject to this Law as provided in | 12 | | Section 18-213.
| 13 | | "Aggregate extension" for taxing districts to which this | 14 | | Law applied before
the 1995 levy year means the annual | 15 | | corporate extension for the taxing
district and those special | 16 | | purpose extensions that are made annually for
the taxing | 17 | | district, excluding special purpose extensions: (a) made for | 18 | | the
taxing district to pay interest or principal on general | 19 | | obligation bonds
that were approved by referendum; (b) made for | 20 | | any taxing district to pay
interest or principal on general | 21 | | obligation bonds issued before October 1,
1991; (c) made for | 22 | | any taxing district to pay interest or principal on bonds
| 23 | | issued to refund or continue to refund those bonds issued | 24 | | before October 1,
1991; (d)
made for any taxing district to pay | 25 | | interest or principal on bonds
issued to refund or continue to | 26 | | refund bonds issued after October 1, 1991 that
were approved by |
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| 1 | | referendum; (e)
made for any taxing district to pay interest
or | 2 | | principal on revenue bonds issued before October 1, 1991 for | 3 | | payment of
which a property tax levy or the full faith and | 4 | | credit of the unit of local
government is pledged; however, a | 5 | | tax for the payment of interest or principal
on those bonds | 6 | | shall be made only after the governing body of the unit of | 7 | | local
government finds that all other sources for payment are | 8 | | insufficient to make
those payments; (f) made for payments | 9 | | under a building commission lease when
the lease payments are | 10 | | for the retirement of bonds issued by the commission
before | 11 | | October 1, 1991, to pay for the building project; (g) made for | 12 | | payments
due under installment contracts entered into before | 13 | | October 1, 1991;
(h) made for payments of principal and | 14 | | interest on bonds issued under the
Metropolitan Water | 15 | | Reclamation District Act to finance construction projects
| 16 | | initiated before October 1, 1991; (i) made for payments of | 17 | | principal and
interest on limited bonds, as defined in Section | 18 | | 3 of the Local Government Debt
Reform Act, in an amount not to | 19 | | exceed the debt service extension base less
the amount in items | 20 | | (b), (c), (e), and (h) of this definition for
non-referendum | 21 | | obligations, except obligations initially issued pursuant to
| 22 | | referendum; (j) made for payments of principal and interest on | 23 | | bonds
issued under Section 15 of the Local Government Debt | 24 | | Reform Act; (k)
made
by a school district that participates in | 25 | | the Special Education District of
Lake County, created by | 26 | | special education joint agreement under Section
10-22.31 of the |
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| 1 | | School Code, for payment of the school district's share of the
| 2 | | amounts required to be contributed by the Special Education | 3 | | District of Lake
County to the Illinois Municipal Retirement | 4 | | Fund under Article 7 of the
Illinois Pension Code; the amount | 5 | | of any extension under this item (k) shall be
certified by the | 6 | | school district to the county clerk; (l) made to fund
expenses | 7 | | of providing joint recreational programs for the handicapped | 8 | | under
Section 5-8 of
the
Park District Code or Section 11-95-14 | 9 | | of the Illinois Municipal Code; (m) made for temporary | 10 | | relocation loan repayment purposes pursuant to Sections 2-3.77 | 11 | | and 17-2.2d of the School Code; (n) made for payment of | 12 | | principal and interest on any bonds issued under the authority | 13 | | of Section 17-2.2d of the School Code; and (o) made for | 14 | | contributions to a firefighter's pension fund created under | 15 | | Article 4 of the Illinois Pension Code, to the extent of the | 16 | | amount certified under item (5) of Section 4-134 of the | 17 | | Illinois Pension Code ; and (p) made for contributions to a | 18 | | pension or retirement fund created under Article 3, 4, or 7 of | 19 | | the Illinois Pension Code for the first 5 taxable years after | 20 | | the taxing district first participates in the pension or | 21 | | retirement system created, by referendum or otherwise, under | 22 | | that Article .
| 23 | | "Aggregate extension" for the taxing districts to which | 24 | | this Law did not
apply before the 1995 levy year (except taxing | 25 | | districts subject to this Law
in
accordance with Section | 26 | | 18-213) means the annual corporate extension for the
taxing |
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| 1 | | district and those special purpose extensions that are made | 2 | | annually for
the taxing district, excluding special purpose | 3 | | extensions: (a) made for the
taxing district to pay interest or | 4 | | principal on general obligation bonds that
were approved by | 5 | | referendum; (b) made for any taxing district to pay interest
or | 6 | | principal on general obligation bonds issued before March 1, | 7 | | 1995; (c) made
for any taxing district to pay interest or | 8 | | principal on bonds issued to refund
or continue to refund those | 9 | | bonds issued before March 1, 1995; (d) made for any
taxing | 10 | | district to pay interest or principal on bonds issued to refund | 11 | | or
continue to refund bonds issued after March 1, 1995 that | 12 | | were approved by
referendum; (e) made for any taxing district | 13 | | to pay interest or principal on
revenue bonds issued before | 14 | | March 1, 1995 for payment of which a property tax
levy or the | 15 | | full faith and credit of the unit of local government is | 16 | | pledged;
however, a tax for the payment of interest or | 17 | | principal on those bonds shall be
made only after the governing | 18 | | body of the unit of local government finds that
all other | 19 | | sources for payment are insufficient to make those payments; | 20 | | (f) made
for payments under a building commission lease when | 21 | | the lease payments are for
the retirement of bonds issued by | 22 | | the commission before March 1, 1995 to
pay for the building | 23 | | project; (g) made for payments due under installment
contracts | 24 | | entered into before March 1, 1995; (h) made for payments of
| 25 | | principal and interest on bonds issued under the Metropolitan | 26 | | Water Reclamation
District Act to finance construction |
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| 1 | | projects initiated before October 1,
1991; (h-4) made for | 2 | | stormwater management purposes by the Metropolitan Water | 3 | | Reclamation District of Greater Chicago under Section 12 of the | 4 | | Metropolitan Water Reclamation District Act; (i) made for | 5 | | payments of principal and interest on limited bonds,
as defined | 6 | | in Section 3 of the Local Government Debt Reform Act, in an | 7 | | amount
not to exceed the debt service extension base less the | 8 | | amount in items (b),
(c), and (e) of this definition for | 9 | | non-referendum obligations, except
obligations initially | 10 | | issued pursuant to referendum and bonds described in
subsection | 11 | | (h) of this definition; (j) made for payments of
principal and | 12 | | interest on bonds issued under Section 15 of the Local | 13 | | Government
Debt Reform Act; (k) made for payments of principal | 14 | | and interest on bonds
authorized by Public Act 88-503 and | 15 | | issued under Section 20a of the Chicago
Park District Act for | 16 | | aquarium or
museum projects; (l) made for payments of principal | 17 | | and interest on
bonds
authorized by Public Act 87-1191 or | 18 | | 93-601 and (i) issued pursuant to Section 21.2 of the Cook | 19 | | County Forest
Preserve District Act, (ii) issued under Section | 20 | | 42 of the Cook County
Forest Preserve District Act for | 21 | | zoological park projects, or (iii) issued
under Section 44.1 of | 22 | | the Cook County Forest Preserve District Act for
botanical | 23 | | gardens projects; (m) made
pursuant
to Section 34-53.5 of the | 24 | | School Code, whether levied annually or not;
(n) made to fund | 25 | | expenses of providing joint recreational programs for the
| 26 | | handicapped under Section 5-8 of the Park
District Code or |
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| 1 | | Section 11-95-14 of the Illinois Municipal Code;
(o) made by | 2 | | the
Chicago Park
District for recreational programs for the | 3 | | handicapped under subsection (c) of
Section
7.06 of the Chicago | 4 | | Park District Act; (p) made for contributions to a | 5 | | firefighter's pension fund created under Article 4 of the | 6 | | Illinois Pension Code, to the extent of the amount certified | 7 | | under item (5) of Section 4-134 of the Illinois Pension Code; | 8 | | and (q) made by Ford Heights School District 169 under Section | 9 | | 17-9.02 of the School Code ; and (r) made for contributions to a | 10 | | pension or retirement fund created under Article 3, 4, or 7 of | 11 | | the Illinois Pension Code for the first 5 taxable years after | 12 | | the taxing district first participates in the pension or | 13 | | retirement system created, by referendum or otherwise, under | 14 | | that Article .
| 15 | | "Aggregate extension" for all taxing districts to which | 16 | | this Law applies in
accordance with Section 18-213, except for | 17 | | those taxing districts subject to
paragraph (2) of subsection | 18 | | (e) of Section 18-213, means the annual corporate
extension for | 19 | | the
taxing district and those special purpose extensions that | 20 | | are made annually for
the taxing district, excluding special | 21 | | purpose extensions: (a) made for the
taxing district to pay | 22 | | interest or principal on general obligation bonds that
were | 23 | | approved by referendum; (b) made for any taxing district to pay | 24 | | interest
or principal on general obligation bonds issued before | 25 | | the date on which the
referendum making this
Law applicable to | 26 | | the taxing district is held; (c) made
for any taxing district |
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| 1 | | to pay interest or principal on bonds issued to refund
or | 2 | | continue to refund those bonds issued before the date on which | 3 | | the
referendum making this Law
applicable to the taxing | 4 | | district is held;
(d) made for any
taxing district to pay | 5 | | interest or principal on bonds issued to refund or
continue to | 6 | | refund bonds issued after the date on which the referendum | 7 | | making
this Law
applicable to the taxing district is held if | 8 | | the bonds were approved by
referendum after the date on which | 9 | | the referendum making this Law
applicable to the taxing | 10 | | district is held; (e) made for any
taxing district to pay | 11 | | interest or principal on
revenue bonds issued before the date | 12 | | on which the referendum making this Law
applicable to the
| 13 | | taxing district is held for payment of which a property tax
| 14 | | levy or the full faith and credit of the unit of local | 15 | | government is pledged;
however, a tax for the payment of | 16 | | interest or principal on those bonds shall be
made only after | 17 | | the governing body of the unit of local government finds that
| 18 | | all other sources for payment are insufficient to make those | 19 | | payments; (f) made
for payments under a building commission | 20 | | lease when the lease payments are for
the retirement of bonds | 21 | | issued by the commission before the date on which the
| 22 | | referendum making this
Law applicable to the taxing district is | 23 | | held to
pay for the building project; (g) made for payments due | 24 | | under installment
contracts entered into before the date on | 25 | | which the referendum making this Law
applicable to
the taxing | 26 | | district is held;
(h) made for payments
of principal and |
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| 1 | | interest on limited bonds,
as defined in Section 3 of the Local | 2 | | Government Debt Reform Act, in an amount
not to exceed the debt | 3 | | service extension base less the amount in items (b),
(c), and | 4 | | (e) of this definition for non-referendum obligations, except
| 5 | | obligations initially issued pursuant to referendum; (i) made | 6 | | for payments
of
principal and interest on bonds issued under | 7 | | Section 15 of the Local Government
Debt Reform Act;
(j)
made | 8 | | for a qualified airport authority to pay interest or principal | 9 | | on
general obligation bonds issued for the purpose of paying | 10 | | obligations due
under, or financing airport facilities | 11 | | required to be acquired, constructed,
installed or equipped | 12 | | pursuant to, contracts entered into before March
1, 1996 (but | 13 | | not including any amendments to such a contract taking effect | 14 | | on
or after that date); (k) made to fund expenses of providing | 15 | | joint
recreational programs for the handicapped under Section | 16 | | 5-8 of
the
Park District Code or Section 11-95-14 of the | 17 | | Illinois Municipal Code; (l) made for contributions to a | 18 | | firefighter's pension fund created under Article 4 of the | 19 | | Illinois Pension Code, to the extent of the amount certified | 20 | | under item (5) of Section 4-134 of the Illinois Pension Code; | 21 | | and (m) made for the taxing district to pay interest or | 22 | | principal on general obligation bonds issued pursuant to | 23 | | Section 19-3.10 of the School Code ; and (n) made for | 24 | | contributions to a pension or retirement fund created under | 25 | | Article 3, 4, or 7 of the Illinois Pension Code for the first 5 | 26 | | taxable years after the taxing district first participates in |
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| 1 | | the pension or retirement system created, by referendum or | 2 | | otherwise, under that Article .
| 3 | | "Aggregate extension" for all taxing districts to which | 4 | | this Law applies in
accordance with paragraph (2) of subsection | 5 | | (e) of Section 18-213 means the
annual corporate extension for | 6 | | the
taxing district and those special purpose extensions that | 7 | | are made annually for
the taxing district, excluding special | 8 | | purpose extensions: (a) made for the
taxing district to pay | 9 | | interest or principal on general obligation bonds that
were | 10 | | approved by referendum; (b) made for any taxing district to pay | 11 | | interest
or principal on general obligation bonds issued before | 12 | | the effective date of
this amendatory Act of 1997;
(c) made
for | 13 | | any taxing district to pay interest or principal on bonds | 14 | | issued to refund
or continue to refund those bonds issued | 15 | | before the effective date
of this amendatory Act of 1997;
(d) | 16 | | made for any
taxing district to pay interest or principal on | 17 | | bonds issued to refund or
continue to refund bonds issued after | 18 | | the effective date of this amendatory Act
of 1997 if the bonds | 19 | | were approved by referendum after the effective date of
this | 20 | | amendatory Act of 1997;
(e) made for any
taxing district to pay | 21 | | interest or principal on
revenue bonds issued before the | 22 | | effective date of this amendatory Act of 1997
for payment of | 23 | | which a property tax
levy or the full faith and credit of the | 24 | | unit of local government is pledged;
however, a tax for the | 25 | | payment of interest or principal on those bonds shall be
made | 26 | | only after the governing body of the unit of local government |
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| 1 | | finds that
all other sources for payment are insufficient to | 2 | | make those payments; (f) made
for payments under a building | 3 | | commission lease when the lease payments are for
the retirement | 4 | | of bonds issued by the commission before the effective date
of | 5 | | this amendatory Act of 1997
to
pay for the building project; | 6 | | (g) made for payments due under installment
contracts entered | 7 | | into before the effective date of this amendatory Act of
1997;
| 8 | | (h) made for payments
of principal and interest on limited | 9 | | bonds,
as defined in Section 3 of the Local Government Debt | 10 | | Reform Act, in an amount
not to exceed the debt service | 11 | | extension base less the amount in items (b),
(c), and (e) of | 12 | | this definition for non-referendum obligations, except
| 13 | | obligations initially issued pursuant to referendum; (i) made | 14 | | for payments
of
principal and interest on bonds issued under | 15 | | Section 15 of the Local Government
Debt Reform Act;
(j)
made | 16 | | for a qualified airport authority to pay interest or principal | 17 | | on
general obligation bonds issued for the purpose of paying | 18 | | obligations due
under, or financing airport facilities | 19 | | required to be acquired, constructed,
installed or equipped | 20 | | pursuant to, contracts entered into before March
1, 1996 (but | 21 | | not including any amendments to such a contract taking effect | 22 | | on
or after that date); (k) made to fund expenses of providing | 23 | | joint
recreational programs for the handicapped under Section | 24 | | 5-8 of
the
Park District Code or Section 11-95-14 of the | 25 | | Illinois Municipal Code; and (l) made for contributions to a | 26 | | firefighter's pension fund created under Article 4 of the |
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| 1 | | Illinois Pension Code, to the extent of the amount certified | 2 | | under item (5) of Section 4-134 of the Illinois Pension Code ; | 3 | | and (m) made for contributions to a pension or retirement fund | 4 | | created under Article 3, 4, or 7 of the Illinois Pension Code | 5 | | for the first 5 taxable years after the taxing district first | 6 | | participates in the pension or retirement system created, by | 7 | | referendum or otherwise, under that Article .
| 8 | | "Debt service extension base" means an amount equal to that | 9 | | portion of the
extension for a taxing district for the 1994 | 10 | | levy year, or for those taxing
districts subject to this Law in | 11 | | accordance with Section 18-213, except for
those subject to | 12 | | paragraph (2) of subsection (e) of Section 18-213, for the
levy
| 13 | | year in which the referendum making this Law applicable to the | 14 | | taxing district
is held, or for those taxing districts subject | 15 | | to this Law in accordance with
paragraph (2) of subsection (e) | 16 | | of Section 18-213 for the 1996 levy year,
constituting an
| 17 | | extension for payment of principal and interest on bonds issued | 18 | | by the taxing
district without referendum, but not including | 19 | | excluded non-referendum bonds. For park districts (i) that were | 20 | | first
subject to this Law in 1991 or 1995 and (ii) whose | 21 | | extension for the 1994 levy
year for the payment of principal | 22 | | and interest on bonds issued by the park
district without | 23 | | referendum (but not including excluded non-referendum bonds)
| 24 | | was less than 51% of the amount for the 1991 levy year | 25 | | constituting an
extension for payment of principal and interest | 26 | | on bonds issued by the park
district without referendum (but |
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| 1 | | not including excluded non-referendum bonds),
"debt service | 2 | | extension base" means an amount equal to that portion of the
| 3 | | extension for the 1991 levy year constituting an extension for | 4 | | payment of
principal and interest on bonds issued by the park | 5 | | district without referendum
(but not including excluded | 6 | | non-referendum bonds). A debt service extension base | 7 | | established or increased at any time pursuant to any provision | 8 | | of this Law, except Section 18-212, shall be increased each | 9 | | year commencing with the later of (i) the 2009 levy year or | 10 | | (ii) the first levy year in which this Law becomes applicable | 11 | | to the taxing district, by the lesser of 5% or the percentage | 12 | | increase in the Consumer Price Index during the 12-month | 13 | | calendar year preceding the levy year. The debt service | 14 | | extension
base may be established or increased as provided | 15 | | under Section 18-212.
"Excluded non-referendum bonds" means | 16 | | (i) bonds authorized by Public
Act 88-503 and issued under | 17 | | Section 20a of the Chicago Park District Act for
aquarium and | 18 | | museum projects; (ii) bonds issued under Section 15 of the
| 19 | | Local Government Debt Reform Act; or (iii) refunding | 20 | | obligations issued
to refund or to continue to refund | 21 | | obligations initially issued pursuant to
referendum.
| 22 | | "Special purpose extensions" include, but are not limited | 23 | | to, extensions
for levies made on an annual basis for | 24 | | unemployment and workers'
compensation, self-insurance, | 25 | | contributions to pension plans, and extensions
made pursuant to | 26 | | Section 6-601 of the Illinois Highway Code for a road
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| 1 | | district's permanent road fund whether levied annually or not. | 2 | | The
extension for a special service area is not included in the
| 3 | | aggregate extension.
| 4 | | "Aggregate extension base" means the taxing district's | 5 | | last preceding
aggregate extension as adjusted under Sections | 6 | | 18-135, 18-215,
and 18-230.
An adjustment under Section 18-135 | 7 | | shall be made for the 2007 levy year and all subsequent levy | 8 | | years whenever one or more counties within which a taxing | 9 | | district is located (i) used estimated valuations or rates when | 10 | | extending taxes in the taxing district for the last preceding | 11 | | levy year that resulted in the over or under extension of | 12 | | taxes, or (ii) increased or decreased the tax extension for the | 13 | | last preceding levy year as required by Section 18-135(c). | 14 | | Whenever an adjustment is required under Section 18-135, the | 15 | | aggregate extension base of the taxing district shall be equal | 16 | | to the amount that the aggregate extension of the taxing | 17 | | district would have been for the last preceding levy year if | 18 | | either or both (i) actual, rather than estimated, valuations or | 19 | | rates had been used to calculate the extension of taxes for the | 20 | | last levy year, or (ii) the tax extension for the last | 21 | | preceding levy year had not been adjusted as required by | 22 | | subsection (c) of Section 18-135.
| 23 | | "Levy year" has the same meaning as "year" under Section
| 24 | | 1-155.
| 25 | | "New property" means (i) the assessed value, after final | 26 | | board of review or
board of appeals action, of new improvements |
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| 1 | | or additions to existing
improvements on any parcel of real | 2 | | property that increase the assessed value of
that real property | 3 | | during the levy year multiplied by the equalization factor
| 4 | | issued by the Department under Section 17-30, (ii) the assessed | 5 | | value, after
final board of review or board of appeals action, | 6 | | of real property not exempt
from real estate taxation, which | 7 | | real property was exempt from real estate
taxation for any | 8 | | portion of the immediately preceding levy year, multiplied by
| 9 | | the equalization factor issued by the Department under Section | 10 | | 17-30, including the assessed value, upon final stabilization | 11 | | of occupancy after new construction is complete, of any real | 12 | | property located within the boundaries of an otherwise or | 13 | | previously exempt military reservation that is intended for | 14 | | residential use and owned by or leased to a private corporation | 15 | | or other entity, and
(iii) in counties that classify in | 16 | | accordance with Section 4 of Article
IX of the
Illinois | 17 | | Constitution, an incentive property's additional assessed | 18 | | value
resulting from a
scheduled increase in the level of | 19 | | assessment as applied to the first year
final board of
review | 20 | | market value.
In addition, the county clerk in a county | 21 | | containing a population of
3,000,000 or more shall include in | 22 | | the 1997
recovered tax increment value for any school district, | 23 | | any recovered tax
increment value that was applicable to the | 24 | | 1995 tax year calculations.
| 25 | | "Qualified airport authority" means an airport authority | 26 | | organized under
the Airport Authorities Act and located in a |
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| 1 | | county bordering on the State of
Wisconsin and having a | 2 | | population in excess of 200,000 and not greater than
500,000.
| 3 | | "Recovered tax increment value" means, except as otherwise | 4 | | provided in this
paragraph, the amount of the current year's | 5 | | equalized assessed value, in the
first year after a | 6 | | municipality terminates
the designation of an area as a | 7 | | redevelopment project area previously
established under the | 8 | | Tax Increment Allocation Development Act in the Illinois
| 9 | | Municipal Code, previously established under the Industrial | 10 | | Jobs Recovery Law
in the Illinois Municipal Code, previously | 11 | | established under the Economic Development Project Area Tax | 12 | | Increment Act of 1995, or previously established under the | 13 | | Economic
Development Area Tax Increment Allocation Act, of each | 14 | | taxable lot, block,
tract, or parcel of real property in the | 15 | | redevelopment project area over and
above the initial equalized | 16 | | assessed value of each property in the
redevelopment project | 17 | | area.
For the taxes which are extended for the 1997 levy year, | 18 | | the recovered tax
increment value for a non-home rule taxing | 19 | | district that first became subject
to this Law for the 1995 | 20 | | levy year because a majority of its 1994 equalized
assessed | 21 | | value was in an affected county or counties shall be increased | 22 | | if a
municipality terminated the designation of an area in 1993 | 23 | | as a redevelopment
project area previously established under | 24 | | the Tax Increment Allocation
Development Act in the Illinois | 25 | | Municipal Code, previously established under
the Industrial | 26 | | Jobs Recovery Law in the Illinois Municipal Code, or previously
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| 1 | | established under the Economic Development Area Tax Increment | 2 | | Allocation Act,
by an amount equal to the 1994 equalized | 3 | | assessed value of each taxable lot,
block, tract, or parcel of | 4 | | real property in the redevelopment project area over
and above | 5 | | the initial equalized assessed value of each property in the
| 6 | | redevelopment project area.
In the first year after a | 7 | | municipality
removes a taxable lot, block, tract, or parcel of | 8 | | real property from a
redevelopment project area established | 9 | | under the Tax Increment Allocation
Development Act in the | 10 | | Illinois
Municipal Code, the Industrial Jobs Recovery Law
in | 11 | | the Illinois Municipal Code, or the Economic
Development Area | 12 | | Tax Increment Allocation Act, "recovered tax increment value"
| 13 | | means the amount of the current year's equalized assessed value | 14 | | of each taxable
lot, block, tract, or parcel of real property | 15 | | removed from the redevelopment
project area over and above the | 16 | | initial equalized assessed value of that real
property before | 17 | | removal from the redevelopment project area.
| 18 | | Except as otherwise provided in this Section, "limiting | 19 | | rate" means a
fraction the numerator of which is the last
| 20 | | preceding aggregate extension base times an amount equal to one | 21 | | plus the
extension limitation defined in this Section and the | 22 | | denominator of which
is the current year's equalized assessed | 23 | | value of all real property in the
territory under the | 24 | | jurisdiction of the taxing district during the prior
levy year. | 25 | | For those taxing districts that reduced their aggregate
| 26 | | extension for the last preceding levy year, the highest |
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| 1 | | aggregate extension
in any of the last 3 preceding levy years | 2 | | shall be used for the purpose of
computing the limiting rate. | 3 | | The denominator shall not include new
property or the recovered | 4 | | tax increment
value.
If a new rate, a rate decrease, or a | 5 | | limiting rate increase has been approved at an election held | 6 | | after March 21, 2006, then (i) the otherwise applicable | 7 | | limiting rate shall be increased by the amount of the new rate | 8 | | or shall be reduced by the amount of the rate decrease, as the | 9 | | case may be, or (ii) in the case of a limiting rate increase, | 10 | | the limiting rate shall be equal to the rate set forth
in the | 11 | | proposition approved by the voters for each of the years | 12 | | specified in the proposition, after
which the limiting rate of | 13 | | the taxing district shall be calculated as otherwise provided.
| 14 | | (Source: P.A. 95-90, eff. 1-1-08; 95-331, eff. 8-21-07; 95-404, | 15 | | eff. 1-1-08; 95-876, eff. 8-21-08; 96-501, eff. 8-14-09; | 16 | | 96-517, eff. 8-14-09; 96-1000, eff. 7-2-10; 96-1202, eff. | 17 | | 7-22-10.)
| 18 | | Section 10. The Illinois Pension Code is amended by | 19 | | changing Sections 3-145 and 7-134 as follows:
| 20 | | (40 ILCS 5/3-145) (from Ch. 108 1/2, par. 3-145)
| 21 | | Sec. 3-145. Referendum in municipalities less than 5,000. | 22 | | (a) This Article
shall not be effective in any
municipality | 23 | | having a population of less than 5,000 unless the
proposition | 24 | | to adopt the Article is submitted
to and approved
by the voters |
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| 1 | | of the municipality in the manner herein provided.
| 2 | | Whenever the electors of the municipality, equal in number | 3 | | to 5% of
the number of legal votes cast at the last preceding | 4 | | general municipal
election, petition the city, village or town | 5 | | clerk to submit the proposition
whether
that municipality shall | 6 | | adopt this Article, the officer to whom the
petition is | 7 | | addressed shall certify the proposition to the proper election
| 8 | | officials who shall submit the proposition in accordance
with | 9 | | the general election law at a regular election in the | 10 | | municipality
provided that notice of the referendum, if held
| 11 | | before July 1, 1999,
has been given in accordance with the | 12 | | provisions of Section
12-5
of the Election Code in effect at | 13 | | the time of the bond referendum, at least
10 and not more than | 14 | | 45 days before the date of
the election, notwithstanding the | 15 | | time for publication otherwise imposed by
Section 12-5.
Notices | 16 | | required in connection with the submission of public questions
| 17 | | on or after July 1, 1999 shall be as set forth in Section 12-5 | 18 | | of the Election
Code.
If the proposition is not adopted at
that | 19 | | election, it may be submitted in like manner at any regular | 20 | | election
thereafter. The
proposition shall be substantially in | 21 | | the following form:
| 22 | | Shall the (name of the municipality) adopt Article 3 of | 23 | | the Illinois Pension Code, providing for a police pension | 24 | | fund and the levying of an annual tax therefor? |
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| 1 | | The vote must be recorded as "Yes" or "No". | 2 | | -------------------------------------------------------------
| 3 | | Shall the city (or village or
| 4 | | incorporated town) of.... adopt YES
| 5 | | Article 3 of the "Illinois Pension -----------------------
| 6 | | Code", pertaining to the creation NO
| 7 | | of a police pension fund?
| 8 | | -----------------------------------
| 9 | | If a majority of the votes cast on the proposition
is for | 10 | | the proposition, this Article is adopted in that municipality.
| 11 | | (b) For a period of 60 days after the effective date of | 12 | | this amendatory Act of the 96th General Assembly, if a | 13 | | municipality having a population of less than 5,000 has adopted | 14 | | this Article in accordance with the provisions of subsection | 15 | | (a), the municipality may elect to terminate participation | 16 | | under this Article if all of the following conditions are met: | 17 | | (1) An independent auditor certifies that the fund | 18 | | created under this Article has no liabilities and there are | 19 | | no members or participants in the fund and no beneficiaries | 20 | | entitled to benefits under the fund. | 21 | | (2) The corporate authorities of the municipality, by | 22 | | ordinance, approve the closing of the fund. | 23 | | If the conditions of this subsection (b) are met and the | 24 | | closed fund contains assets, those assets shall be transferred | 25 | | to the municipality for its general corporate purposes.
| 26 | | If a municipality that terminates participation under this |
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| 1 | | Article in accordance with this subsection (b) wants to | 2 | | reinstate the fund, then the proposition to re-adopt the | 3 | | Article must be submitted to and approved
by the voters of the | 4 | | municipality in the manner provided in subsection (a).
| 5 | | (Source: P.A. 96-216, eff. 8-10-09.)
| 6 | | (40 ILCS 5/7-134) (from Ch. 108 1/2, par. 7-134)
| 7 | | Sec. 7-134.
Municipality referendum and notice of election | 8 | | to
participate.
(a) A municipality electing to be included | 9 | | within this Article by
referendum shall hold such referendum | 10 | | within the territory of the municipality
following the filing | 11 | | of a written petition of at least 300 legal voters
or at least | 12 | | 1% of the legal voters of the municipality, whichever is less.
| 13 | | The question shall be certified to the proper election | 14 | | officials, who
shall submit the question to the voters at an | 15 | | election in accordance with
the general election law.
If a | 16 | | majority of the voters who vote upon
this question vote for | 17 | | inclusion of the
municipality, notice of the election to be | 18 | | included shall be given as
provided in this section and the | 19 | | municipality shall thereupon be so
included.
| 20 | | The proposition shall be in substantially the following | 21 | | form:
| 22 | | Shall the (name of the municipality) adopt Article 7 of | 23 | | the Illinois Pension Code, pertaining to participation in | 24 | | the Illinois Municipal Retirement Fund and the levying of |
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| 1 | | an annual tax therefor? | 2 | | The vote must be recorded as "Yes" or "No". | 3 | | -------------------------------------------------------------
| 4 | | Shall the....(here name the
| 5 | | municipality or municipalities in which YES
| 6 | | the question is being voted upon) be
| 7 | | included within the provisions of Article ------------------
| 8 | | 7 of the Illinois Pension Code, as
| 9 | | amended, pertaining to the creation of the NO
| 10 | | "Illinois Municipal Retirement Fund"?
| 11 | | -----------------------
| 12 | | Where the boundaries of 2 or more municipalities are | 13 | | coextensive, one
ballot is sufficient for all municipalities | 14 | | specified in the ballot.
| 15 | | (b) A municipality electing to participate shall within 10 | 16 | | days
after the election submit to the board a certified notice | 17 | | of the
election to participate. The notice shall:
| 18 | | 1. Be in writing,
| 19 | | 2. Indicate the date of the election,
| 20 | | 3. Specify all the instrumentalities of the municipality,
| 21 | | 4. Be officially certified by the clerk or other proper | 22 | | official of
the municipality as having been duly made in | 23 | | accordance with the
provisions of this Article.
| 24 | | (Source: P.A. 81-1535 .)
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