Full Text of HB3313 97th General Assembly
HB3313ham001 97TH GENERAL ASSEMBLY | Rep. Daniel J. Burke Filed: 3/16/2011
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| 1 | | AMENDMENT TO HOUSE BILL 3313
| 2 | | AMENDMENT NO. ______. Amend House Bill 3313 by replacing | 3 | | everything after the enacting clause with the following:
| 4 | | "Section 5. The State Finance Act is amended by adding | 5 | | Section 5.786 as follows: | 6 | | (30 ILCS 105/5.786 new) | 7 | | Sec. 5.786. The Central Illinois Economic Development | 8 | | Authority Debt Fund. | 9 | | Section 10. The State Revenue Sharing Act is amended by | 10 | | changing 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 | 13 | | 30, 1994, as
soon as may be after the first day of each month | 14 | | the Department of Revenue
shall certify to the Treasurer an |
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| 1 | | amount equal to 1/12 of the net revenue
realized from the tax | 2 | | imposed by subsections (a) and (b) of Section 201 of the
| 3 | | Illinois Income Tax Act during the preceding month. Beginning | 4 | | July 1, 1994,
and continuing through June 30, 1995, as soon as | 5 | | may be after the first day of
each month, the Department of | 6 | | Revenue shall certify to the Treasurer an amount
equal to 1/11 | 7 | | of the net revenue realized from the tax imposed by subsections
| 8 | | (a) and (b) of Section 201 of the Illinois Income Tax Act | 9 | | during the preceding
month. Beginning July 1, 1995, as soon as | 10 | | may be after the first day of each
month, the Department of | 11 | | Revenue shall certify to the Treasurer the amount required to | 12 | | be transferred from the General Revenue Fund to the Local | 13 | | Government Distributive Fund under subsection (b) of Section | 14 | | 901 of the Illinois Income Tax Act. an amount equal
to 1/10 of | 15 | | the net revenue realized from the tax imposed by subsections | 16 | | (a) and
(b) of Section 201 of the Illinois Income Tax Act | 17 | | during the preceding month.
Net revenue realized for a month | 18 | | shall be defined as the revenue from the tax
imposed by | 19 | | subsections (a) and (b) of Section 201 of the Illinois Income | 20 | | Tax
Act which is deposited in the General Revenue Fund, the | 21 | | Education Assistance
Fund and the Income Tax Surcharge Local | 22 | | Government Distributive Fund during the
month minus the amount | 23 | | paid out of the General Revenue Fund in State warrants
during | 24 | | that same month as refunds to taxpayers for overpayment of | 25 | | liability
under the tax imposed by subsections (a) and (b) of | 26 | | Section 201 of the Illinois
Income Tax Act. Upon receipt of |
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| 1 | | such certification, the Treasurer shall
transfer from the | 2 | | General Revenue Fund to a special fund in the State treasury,
| 3 | | to be known as the "Local Government Distributive Fund", the | 4 | | amount shown on
such certification.
| 5 | | The corporate authorities of any unit of local government | 6 | | located in Macon, Sangamon, Menard, Logan, Christian, DeWitt, | 7 | | Macoupin, Montgomery, Calhoun, Green, or Jersey County may | 8 | | elect, by a majority vote of the corporate authorities, to make | 9 | | deposits into the Central Illinois Economic Development | 10 | | Authority Debt Fund from its respective share of the funds | 11 | | distributed from the Local Government Distributive Fund. | 12 | | All amounts paid into the Local Government Distributive | 13 | | Fund in accordance
with this Section and allocated pursuant to | 14 | | this 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 | 18 | | hereby
created the Personal Property Tax Replacement Fund, a | 19 | | special fund in
the State Treasury into which shall be paid all | 20 | | revenue realized:
| 21 | | (a) all amounts realized from the additional personal | 22 | | property tax
replacement income tax imposed by subsections (c) | 23 | | and (d) of Section 201 of the
Illinois Income Tax Act, except | 24 | | for those amounts deposited into the Income Tax
Refund Fund | 25 | | pursuant to subsection (c) of Section 901 of the Illinois |
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| 1 | | Income
Tax Act; and
| 2 | | (b) all amounts realized from the additional personal | 3 | | property replacement
invested capital taxes imposed by Section | 4 | | 2a.1 of the Messages Tax
Act, Section 2a.1 of the Gas Revenue | 5 | | Tax Act, Section 2a.1 of the Public
Utilities Revenue Act, and | 6 | | Section 3 of the Water Company Invested Capital
Tax Act, and | 7 | | amounts payable to the Department of Revenue under the
| 8 | | Telecommunications Infrastructure Maintenance Fee Act.
| 9 | | As soon as may be after the end of each month, the | 10 | | Department of Revenue
shall certify to the Treasurer and the | 11 | | Comptroller the amount of all refunds
paid out of the General | 12 | | Revenue Fund through the preceding month on account
of | 13 | | overpayment of liability on taxes paid into the Personal | 14 | | Property Tax
Replacement Fund. Upon receipt of such | 15 | | certification, the Treasurer and
the Comptroller shall | 16 | | transfer the amount so certified from the Personal
Property Tax | 17 | | Replacement Fund into the General Revenue Fund.
| 18 | | The payments of revenue into the Personal Property Tax | 19 | | Replacement Fund
shall be used exclusively for distribution to | 20 | | taxing districts as provided
in this Section, payment of the | 21 | | ordinary and contingent expenses of the Property Tax Appeal | 22 | | Board, payment of the expenses of the Department of Revenue | 23 | | incurred
in administering the collection and distribution of | 24 | | monies paid into the
Personal Property Tax Replacement Fund and | 25 | | transfers due to refunds to
taxpayers for overpayment of | 26 | | liability for taxes paid into the Personal
Property Tax |
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| 1 | | Replacement Fund.
| 2 | | As soon as may be after the effective date of this | 3 | | amendatory Act of 1980,
the Department of Revenue shall certify | 4 | | to the Treasurer the amount of net
replacement revenue paid | 5 | | into the General Revenue Fund prior to that effective
date from | 6 | | the additional tax imposed by Section 2a.1 of the Messages Tax
| 7 | | Act; Section 2a.1 of the Gas Revenue Tax Act; Section 2a.1 of | 8 | | the Public
Utilities Revenue Act; Section 3 of the Water | 9 | | Company Invested Capital Tax Act;
amounts collected by the | 10 | | Department of Revenue under the Telecommunications | 11 | | Infrastructure Maintenance Fee Act; and the
additional | 12 | | personal
property tax replacement income tax imposed by
the | 13 | | Illinois Income Tax Act, as amended by Public
Act 81-1st | 14 | | Special Session-1. Net replacement revenue shall be defined as
| 15 | | the total amount paid into and remaining in the General Revenue | 16 | | Fund as a
result of those Acts minus the amount outstanding and | 17 | | obligated from the
General Revenue Fund in state vouchers or | 18 | | warrants prior to the effective
date of this amendatory Act of | 19 | | 1980 as refunds to taxpayers for overpayment
of liability under | 20 | | those Acts.
| 21 | | All interest earned by monies accumulated in the Personal | 22 | | Property
Tax Replacement Fund shall be deposited in such Fund. | 23 | | All amounts allocated
pursuant to this Section are appropriated | 24 | | on a continuing basis.
| 25 | | Prior to December 31, 1980, as soon as may be after the end | 26 | | of each quarter
beginning with the quarter ending December 31, |
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| 1 | | 1979, and on and after
December 31, 1980, as soon as may be | 2 | | after January 1, March 1, April 1, May
1, July 1, August 1, | 3 | | October 1 and December 1 of each year, the Department
of | 4 | | Revenue shall allocate to each taxing district as defined in | 5 | | Section 1-150
of the Property Tax Code, in accordance with
the | 6 | | provisions of paragraph (2) of this Section the portion of the | 7 | | funds held
in the Personal Property Tax Replacement Fund which | 8 | | is required to be
distributed, as provided in paragraph (1), | 9 | | for each quarter. Provided,
however, under no circumstances | 10 | | shall any taxing district during each of the
first two years of | 11 | | distribution of the taxes imposed by this amendatory Act of
| 12 | | 1979 be entitled to an annual allocation which is less than the | 13 | | funds such
taxing district collected from the 1978 personal | 14 | | property tax. Provided further
that under no circumstances | 15 | | shall any taxing district during the third year of
distribution | 16 | | of the taxes imposed by this amendatory Act of 1979 receive | 17 | | less
than 60% of the funds such taxing district collected from | 18 | | the 1978 personal
property tax. In the event that the total of | 19 | | the allocations made as above
provided for all taxing | 20 | | districts, during either of such 3 years, exceeds the
amount | 21 | | available for distribution the allocation of each taxing | 22 | | district shall
be proportionately reduced. Except as provided | 23 | | in Section 13 of this Act, the
Department shall then certify, | 24 | | pursuant to appropriation, such allocations to
the State | 25 | | Comptroller who shall pay over to the several taxing districts | 26 | | the
respective amounts allocated to them.
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| 1 | | Any township which receives an allocation based in whole or | 2 | | in part upon
personal property taxes which it levied pursuant | 3 | | to Section 6-507 or 6-512
of the Illinois Highway Code and | 4 | | which was previously
required to be paid
over to a municipality | 5 | | shall immediately pay over to that municipality a
proportionate | 6 | | share of the personal property replacement funds which such
| 7 | | township receives.
| 8 | | Any municipality or township, other than a municipality | 9 | | with a population
in excess of 500,000, which receives an | 10 | | allocation based in whole or in
part on personal property taxes | 11 | | which it levied pursuant to Sections 3-1,
3-4 and 3-6 of the | 12 | | Illinois Local Library Act and which was
previously
required to | 13 | | be paid over to a public library shall immediately pay over
to | 14 | | that library a proportionate share of the personal property tax | 15 | | replacement
funds which such municipality or township | 16 | | receives; provided that if such
a public library has converted | 17 | | to a library organized under The Illinois
Public Library | 18 | | District Act, regardless of whether such conversion has
| 19 | | occurred on, after or before January 1, 1988, such | 20 | | proportionate share
shall be immediately paid over to the | 21 | | library district which maintains and
operates the library. | 22 | | However, any library that has converted prior to January
1, | 23 | | 1988, and which hitherto has not received the personal property | 24 | | tax
replacement funds, shall receive such funds commencing on | 25 | | January 1, 1988.
| 26 | | Any township which receives an allocation based in whole or |
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| 1 | | in part on
personal property taxes which it levied pursuant to | 2 | | Section 1c of the Public
Graveyards Act and which taxes were | 3 | | previously required to be paid
over to or used for such public | 4 | | cemetery or cemeteries shall immediately
pay over to or use for | 5 | | such public cemetery or cemeteries a proportionate
share of the | 6 | | personal property tax replacement funds which the township
| 7 | | receives.
| 8 | | Any taxing district which receives an allocation based in | 9 | | whole or in
part upon personal property taxes which it levied | 10 | | for another
governmental body or school district in Cook County | 11 | | in 1976 or for
another governmental body or school district in | 12 | | the remainder of the
State in 1977 shall immediately pay over | 13 | | to that governmental body or
school district the amount of | 14 | | personal property replacement funds which
such governmental | 15 | | body or school district would receive directly under
the | 16 | | provisions of paragraph (2) of this Section, had it levied its | 17 | | own
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 | 2 | | district
outside Cook County shall be the ratio which the Tax | 3 | | Base of that taxing
district bears to the Downstate Tax Base. | 4 | | The Tax Base of each taxing
district outside of Cook County is | 5 | | the personal property tax collections
for that taxing district | 6 | | for the 1977 tax year. The Downstate Tax Base
is the personal | 7 | | property tax collections for all taxing districts in the
State | 8 | | outside of Cook County for the 1977 tax year. The Department of
| 9 | | Revenue shall have authority to review for accuracy and | 10 | | completeness the
personal property tax collections for each | 11 | | taxing district outside Cook
County for the 1977 tax year.
| 12 | | The Personal Property Replacement Ratio of each Cook County | 13 | | taxing
district shall be the ratio which the Tax Base of that | 14 | | taxing district
bears to the Cook County Tax Base. The Tax Base | 15 | | of each Cook County
taxing district is the personal property | 16 | | tax collections for that taxing
district for the 1976 tax year. | 17 | | The Cook County Tax Base is the
personal property tax | 18 | | collections for all taxing districts in Cook
County for the | 19 | | 1976 tax year. The Department of Revenue shall have
authority | 20 | | to review for accuracy and completeness the personal property | 21 | | tax
collections for each taxing district within Cook County for | 22 | | the 1976 tax year.
| 23 | | For all purposes of this Section 12, amounts paid to a | 24 | | taxing district
for such tax years as may be applicable by a | 25 | | foreign corporation under the
provisions of Section 7-202 of | 26 | | the Public Utilities Act, as amended,
shall be deemed to be |
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| 1 | | personal property taxes collected by such taxing district
for | 2 | | such tax years as may be applicable. The Director shall | 3 | | determine from the
Illinois Commerce Commission, for any tax | 4 | | year as may be applicable, the
amounts so paid by any such | 5 | | foreign corporation to any and all taxing
districts. The | 6 | | Illinois Commerce Commission shall furnish such information to
| 7 | | the Director. For all purposes of this Section 12, the Director | 8 | | shall deem such
amounts to be collected personal property taxes | 9 | | of each such taxing district
for the applicable tax year or | 10 | | years.
| 11 | | Taxing districts located both in Cook County and in one or | 12 | | more other
counties shall receive both a Cook County allocation | 13 | | and a Downstate
allocation determined in the same way as all | 14 | | other taxing districts.
| 15 | | If any taxing district in existence on July 1, 1979 ceases | 16 | | to exist,
or discontinues its operations, its Tax Base shall | 17 | | thereafter be deemed
to be zero. If the powers, duties and | 18 | | obligations of the discontinued
taxing district are assumed by | 19 | | another taxing district, the Tax Base of
the discontinued | 20 | | taxing district shall be added to the Tax Base of the
taxing | 21 | | district assuming such powers, duties and obligations.
| 22 | | If two or more taxing districts in existence on July 1, | 23 | | 1979, or a
successor or successors thereto shall consolidate | 24 | | into one taxing
district, the Tax Base of such consolidated | 25 | | taxing district shall be the
sum of the Tax Bases of each of | 26 | | the taxing districts which have consolidated.
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| 1 | | If a single taxing district in existence on July 1, 1979, | 2 | | or a
successor or successors thereto shall be divided into two | 3 | | or more
separate taxing districts, the tax base of the taxing | 4 | | district so
divided shall be allocated to each of the resulting | 5 | | taxing districts in
proportion to the then current equalized | 6 | | assessed value of each resulting
taxing district.
| 7 | | If a portion of the territory of a taxing district is | 8 | | disconnected
and annexed to another taxing district of the same | 9 | | type, the Tax Base of
the taxing district from which | 10 | | disconnection was made shall be reduced
in proportion to the | 11 | | then current equalized assessed value of the disconnected
| 12 | | territory as compared with the then current equalized assessed | 13 | | value within the
entire territory of the taxing district prior | 14 | | to disconnection, and the
amount of such reduction shall be | 15 | | added to the Tax Base of the taxing
district to which | 16 | | annexation is made.
| 17 | | If a community college district is created after July 1, | 18 | | 1979,
beginning on the effective date of this amendatory Act of | 19 | | 1995, its Tax Base
shall be 3.5% of the sum of the personal | 20 | | property tax collected for the
1977 tax year within the | 21 | | territorial jurisdiction of the district.
| 22 | | The amounts allocated and paid to taxing districts pursuant | 23 | | to
the provisions of this amendatory Act of 1979 shall be | 24 | | deemed to be
substitute revenues for the revenues derived from | 25 | | taxes imposed on
personal property pursuant to the provisions | 26 | | of the "Revenue Act of
1939" or "An Act for the assessment and |
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| 1 | | taxation of private car line
companies", approved July 22, | 2 | | 1943, as amended, or Section 414 of the
Illinois Insurance | 3 | | Code, prior to the abolition of such taxes and shall
be used | 4 | | for the same purposes as the revenues derived from ad valorem
| 5 | | taxes on real estate.
| 6 | | Monies received by any taxing districts from the Personal | 7 | | Property
Tax Replacement Fund shall be first applied toward | 8 | | payment of the proportionate
amount of debt service which was | 9 | | previously levied and collected from
extensions against | 10 | | personal property on bonds outstanding as of December 31,
1978 | 11 | | and next applied toward payment of the proportionate share of | 12 | | the pension
or retirement obligations of the taxing district | 13 | | which were previously levied
and collected from extensions | 14 | | against personal property. For each such
outstanding bond | 15 | | issue, the County Clerk shall determine the percentage of the
| 16 | | debt service which was collected from extensions against real | 17 | | estate in the
taxing district for 1978 taxes payable in 1979, | 18 | | as related to the total amount
of such levies and collections | 19 | | from extensions against both real and personal
property. For | 20 | | 1979 and subsequent years' taxes, the County Clerk shall levy
| 21 | | and extend taxes against the real estate of each taxing | 22 | | district which will
yield the said percentage or percentages of | 23 | | the debt service on such
outstanding bonds. The balance of the | 24 | | amount necessary to fully pay such debt
service shall | 25 | | constitute a first and prior lien upon the monies
received by | 26 | | each such taxing district through the Personal Property Tax
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| 1 | | Replacement Fund and shall be first applied or set aside for | 2 | | such purpose.
In counties having fewer than 3,000,000 | 3 | | inhabitants, the amendments to
this paragraph as made by this | 4 | | amendatory Act of 1980 shall be first
applicable to 1980 taxes | 5 | | to be collected in 1981.
| 6 | | The corporate authorities of any unit of local government | 7 | | located in Macon, Sangamon, Menard, Logan, Christian, DeWitt, | 8 | | Macoupin, Montgomery, Calhoun, Green, or Jersey County may | 9 | | elect, by a majority vote of the corporate authorities, to make | 10 | | deposits into the Central Illinois Economic Development | 11 | | Authority Debt Fund from its respective share of the funds | 12 | | distributed 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 | 15 | | Authority
Act is amended by adding Section 42 as follows: | 16 | | (70 ILCS 504/42 new) | 17 | | Sec. 42. Central Illinois Economic Development Authority | 18 | | Debt Fund; creation. The Central Illinois Economic Development | 19 | | Authority Debt Fund is created as a special fund in
the State | 20 | | treasury. Except as otherwise provided in this Section, moneys | 21 | | in the Central Illinois Economic Development Authority Debt | 22 | | Fund are allocated to and shall be appropriated by law to
the | 23 | | Authority
for the purpose of paying the debt service | 24 | | requirements on all bonds and
notes issued under subsection (a) |
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| 1 | | of Section 35 of this Act. If at any time moneys in the Central | 2 | | Illinois Economic Development Authority Debt Fund exceed the | 3 | | amount required to pay debt service on bonds and notes issued | 4 | | under subsection (a) of Section 35 of this Act, the Authority | 5 | | must report that fact to the Governor and the General Assembly | 6 | | in writing within 180 days after the surplus occurs.
| 7 | | Section 99. Effective date. This Act takes effect upon | 8 | | becoming law.".
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