Full Text of SB2257 98th General Assembly
SB2257eng 98TH GENERAL ASSEMBLY |
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| 1 | | AN ACT concerning revenue.
| 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 | | Sections 18-185 and 18-190 and by adding Section 18-190.3 as | 6 | | follows: | 7 | | (35 ILCS 200/18-185)
| 8 | | Sec. 18-185. Short title; definitions. This Division 5 may | 9 | | be cited as the
Property Tax Extension Limitation Law. As used | 10 | | in this Division 5:
| 11 | | "Consumer Price Index" means the Consumer Price Index for | 12 | | All Urban
Consumers for all items published by the United | 13 | | States Department of Labor.
| 14 | | "Extension limitation" means (a) the lesser of 5% or the | 15 | | percentage increase
in the Consumer Price Index during the | 16 | | 12-month calendar year preceding the
levy year or (b) the rate | 17 | | of increase approved by voters under Section 18-205.
| 18 | | "Affected county" means a county of 3,000,000 or more | 19 | | inhabitants or a
county contiguous to a county of 3,000,000 or | 20 | | more inhabitants.
| 21 | | "Taxing district" has the same meaning provided in Section | 22 | | 1-150, except as
otherwise provided in this Section. For the | 23 | | 1991 through 1994 levy years only,
"taxing district" includes |
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| 1 | | only each non-home rule taxing district having the
majority of | 2 | | its
1990 equalized assessed value within any county or counties | 3 | | contiguous to a
county with 3,000,000 or more inhabitants. | 4 | | Beginning with the 1995 levy
year, "taxing district" includes | 5 | | only each non-home rule taxing district
subject to this Law | 6 | | before the 1995 levy year and each non-home rule
taxing | 7 | | district not subject to this Law before the 1995 levy year | 8 | | having the
majority of its 1994 equalized assessed value in an | 9 | | affected county or
counties. Beginning with the levy year in
| 10 | | which this Law becomes applicable to a taxing district as
| 11 | | provided in Section 18-213, "taxing district" also includes | 12 | | those taxing
districts made subject to this Law as provided in | 13 | | Section 18-213.
| 14 | | "Aggregate extension" for taxing districts to which this | 15 | | Law applied before
the 1995 levy year means the annual | 16 | | corporate extension for the taxing
district and those special | 17 | | purpose extensions that are made annually for
the taxing | 18 | | district, excluding special purpose extensions: (a) made for | 19 | | the
taxing district to pay interest or principal on general | 20 | | obligation bonds
that were approved by referendum; (b) made for | 21 | | any taxing district to pay
interest or principal on general | 22 | | obligation bonds issued before October 1,
1991; (c) made for | 23 | | any taxing district to pay interest or principal on bonds
| 24 | | issued to refund or continue to refund those bonds issued | 25 | | before October 1,
1991; (d)
made for any taxing district to pay | 26 | | interest or principal on bonds
issued to refund or continue to |
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| 1 | | refund bonds issued after October 1, 1991 that
were approved by | 2 | | referendum; (e)
made for any taxing district to pay interest
or | 3 | | principal on revenue bonds issued before October 1, 1991 for | 4 | | payment of
which a property tax levy or the full faith and | 5 | | credit of the unit of local
government is pledged; however, a | 6 | | tax for the payment of interest or principal
on those bonds | 7 | | shall be made only after the governing body of the unit of | 8 | | local
government finds that all other sources for payment are | 9 | | insufficient to make
those payments; (f) made for payments | 10 | | under a building commission lease when
the lease payments are | 11 | | for the retirement of bonds issued by the commission
before | 12 | | October 1, 1991, to pay for the building project; (g) made for | 13 | | payments
due under installment contracts entered into before | 14 | | October 1, 1991;
(h) made for payments of principal and | 15 | | interest on bonds issued under the
Metropolitan Water | 16 | | Reclamation District Act to finance construction projects
| 17 | | initiated before October 1, 1991; (i) made for payments of | 18 | | principal and
interest on limited bonds, as defined in Section | 19 | | 3 of the Local Government Debt
Reform Act, in an amount not to | 20 | | exceed the debt service extension base less
the amount in items | 21 | | (b), (c), (e), and (h) of this definition for
non-referendum | 22 | | obligations, except obligations initially issued pursuant to
| 23 | | referendum; (j) made for payments of principal and interest on | 24 | | bonds
issued under Section 15 of the Local Government Debt | 25 | | Reform Act; (k)
made
by a school district that participates in | 26 | | the Special Education District of
Lake County, created by |
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| 1 | | special education joint agreement under Section
10-22.31 of the | 2 | | School Code, for payment of the school district's share of the
| 3 | | amounts required to be contributed by the Special Education | 4 | | District of Lake
County to the Illinois Municipal Retirement | 5 | | Fund under Article 7 of the
Illinois Pension Code; the amount | 6 | | of any extension under this item (k) shall be
certified by the | 7 | | school district to the county clerk; (l) made to fund
expenses | 8 | | of providing joint recreational programs for the handicapped | 9 | | under
Section 5-8 of
the
Park District Code or Section 11-95-14 | 10 | | of the Illinois Municipal Code; (m) made for temporary | 11 | | relocation loan repayment purposes pursuant to Sections 2-3.77 | 12 | | and 17-2.2d of the School Code; (n) made for payment of | 13 | | principal and interest on any bonds issued under the authority | 14 | | of Section 17-2.2d of the School Code; (o) made for | 15 | | contributions to a firefighter's pension fund created under | 16 | | Article 4 of the Illinois Pension Code, to the extent of the | 17 | | amount certified under item (5) of Section 4-134 of the | 18 | | Illinois Pension Code; and (p) made for road purposes in the | 19 | | first year after a township assumes the rights, powers, duties, | 20 | | assets, property, liabilities, obligations, and
| 21 | | responsibilities of a road district abolished under the | 22 | | provisions of Section 6-133 of the Illinois Highway Code.
| 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.
| 10 | | "Aggregate extension" for all taxing districts to which | 11 | | this Law applies in
accordance with Section 18-213, except for | 12 | | those taxing districts subject to
paragraph (2) of subsection | 13 | | (e) of Section 18-213, means the annual corporate
extension for | 14 | | the
taxing district and those special purpose extensions that | 15 | | are made annually for
the taxing district, excluding special | 16 | | purpose extensions: (a) made for the
taxing district to pay | 17 | | interest or principal on general obligation bonds that
were | 18 | | approved by referendum; (b) made for any taxing district to pay | 19 | | interest
or principal on general obligation bonds issued before | 20 | | the date on which the
referendum making this
Law applicable to | 21 | | the taxing district is held; (c) made
for any taxing district | 22 | | to pay interest or principal on bonds issued to refund
or | 23 | | continue to refund those bonds issued before the date on which | 24 | | the
referendum making this Law
applicable to the taxing | 25 | | district is held;
(d) made for any
taxing district to pay | 26 | | interest or principal on bonds issued to refund or
continue to |
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| 1 | | refund bonds issued after the date on which the referendum | 2 | | making
this Law
applicable to the taxing district is held if | 3 | | the bonds were approved by
referendum after the date on which | 4 | | the referendum making this Law
applicable to the taxing | 5 | | district is held; (e) made for any
taxing district to pay | 6 | | interest or principal on
revenue bonds issued before the date | 7 | | on which the referendum making this Law
applicable to the
| 8 | | taxing district is held for payment of which a property tax
| 9 | | levy or the full faith and credit of the unit of local | 10 | | government is pledged;
however, a tax for the payment of | 11 | | interest or principal on those bonds shall be
made only after | 12 | | the governing body of the unit of local government finds that
| 13 | | all other sources for payment are insufficient to make those | 14 | | payments; (f) made
for payments under a building commission | 15 | | lease when the lease payments are for
the retirement of bonds | 16 | | issued by the commission before the date on which the
| 17 | | referendum making this
Law applicable to the taxing district is | 18 | | held to
pay for the building project; (g) made for payments due | 19 | | under installment
contracts entered into before the date on | 20 | | which the referendum making this Law
applicable to
the taxing | 21 | | district is held;
(h) made for payments
of principal and | 22 | | interest on limited bonds,
as defined in Section 3 of the Local | 23 | | Government Debt Reform Act, in an amount
not to exceed the debt | 24 | | service extension base less the amount in items (b),
(c), and | 25 | | (e) of this definition for non-referendum obligations, except
| 26 | | obligations initially issued pursuant to referendum; (i) made |
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| 1 | | for payments
of
principal and interest on bonds issued under | 2 | | Section 15 of the Local Government
Debt Reform Act;
(j)
made | 3 | | for a qualified airport authority to pay interest or principal | 4 | | on
general obligation bonds issued for the purpose of paying | 5 | | obligations due
under, or financing airport facilities | 6 | | required to be acquired, constructed,
installed or equipped | 7 | | pursuant to, contracts entered into before March
1, 1996 (but | 8 | | not including any amendments to such a contract taking effect | 9 | | on
or after that date); (k) made to fund expenses of providing | 10 | | joint
recreational programs for the handicapped under Section | 11 | | 5-8 of
the
Park District Code or Section 11-95-14 of the | 12 | | Illinois Municipal Code; (l) made for contributions to a | 13 | | firefighter's pension fund created under Article 4 of the | 14 | | Illinois Pension Code, to the extent of the amount certified | 15 | | under item (5) of Section 4-134 of the Illinois Pension Code; | 16 | | and (m) made for the taxing district to pay interest or | 17 | | principal on general obligation bonds issued pursuant to | 18 | | Section 19-3.10 of the School Code.
| 19 | | "Aggregate extension" for all taxing districts to which | 20 | | this Law applies in
accordance with paragraph (2) of subsection | 21 | | (e) of Section 18-213 means the
annual corporate extension for | 22 | | the
taxing district and those special purpose extensions that | 23 | | are made annually for
the taxing district, excluding special | 24 | | purpose extensions: (a) made for the
taxing district to pay | 25 | | interest or principal on general obligation bonds that
were | 26 | | approved by referendum; (b) made for any taxing district to pay |
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| 1 | | interest
or principal on general obligation bonds issued before | 2 | | the effective date of
this amendatory Act of 1997;
(c) made
for | 3 | | any taxing district to pay interest or principal on bonds | 4 | | issued to refund
or continue to refund those bonds issued | 5 | | before the effective date
of this amendatory Act of 1997;
(d) | 6 | | made for any
taxing district to pay interest or principal on | 7 | | bonds issued to refund or
continue to refund bonds issued after | 8 | | the effective date of this amendatory Act
of 1997 if the bonds | 9 | | were approved by referendum after the effective date of
this | 10 | | amendatory Act of 1997;
(e) made for any
taxing district to pay | 11 | | interest or principal on
revenue bonds issued before the | 12 | | effective date of this amendatory Act of 1997
for payment of | 13 | | which a property tax
levy or the full faith and credit of the | 14 | | unit of local government is pledged;
however, a tax for the | 15 | | payment of interest or principal on those bonds shall be
made | 16 | | only after the governing body of the unit of local government | 17 | | finds that
all other sources for payment are insufficient to | 18 | | make those payments; (f) made
for payments under a building | 19 | | commission lease when the lease payments are for
the retirement | 20 | | of bonds issued by the commission before the effective date
of | 21 | | this amendatory Act of 1997
to
pay for the building project; | 22 | | (g) made for payments due under installment
contracts entered | 23 | | into before the effective date of this amendatory Act of
1997;
| 24 | | (h) made for payments
of principal and interest on limited | 25 | | bonds,
as defined in Section 3 of the Local Government Debt | 26 | | Reform Act, in an amount
not to exceed the debt service |
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| 1 | | extension base less the amount in items (b),
(c), and (e) of | 2 | | this definition for non-referendum obligations, except
| 3 | | obligations initially issued pursuant to referendum; (i) made | 4 | | for payments
of
principal and interest on bonds issued under | 5 | | Section 15 of the Local Government
Debt Reform Act;
(j)
made | 6 | | for a qualified airport authority to pay interest or principal | 7 | | on
general obligation bonds issued for the purpose of paying | 8 | | obligations due
under, or financing airport facilities | 9 | | required to be acquired, constructed,
installed or equipped | 10 | | pursuant to, contracts entered into before March
1, 1996 (but | 11 | | not including any amendments to such a contract taking effect | 12 | | on
or after that date); (k) made to fund expenses of providing | 13 | | joint
recreational programs for the handicapped under Section | 14 | | 5-8 of
the
Park District Code or Section 11-95-14 of the | 15 | | Illinois Municipal Code; and (l) made for contributions to a | 16 | | firefighter's pension fund created under Article 4 of the | 17 | | Illinois Pension Code, to the extent of the amount certified | 18 | | under item (5) of Section 4-134 of the Illinois Pension Code.
| 19 | | "Debt service extension base" means an amount equal to that | 20 | | portion of the
extension for a taxing district for the 1994 | 21 | | levy year, or for those taxing
districts subject to this Law in | 22 | | accordance with Section 18-213, except for
those subject to | 23 | | paragraph (2) of subsection (e) of Section 18-213, for the
levy
| 24 | | year in which the referendum making this Law applicable to the | 25 | | taxing district
is held, or for those taxing districts subject | 26 | | to this Law in accordance with
paragraph (2) of subsection (e) |
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| 1 | | of Section 18-213 for the 1996 levy year,
constituting an
| 2 | | extension for payment of principal and interest on bonds issued | 3 | | by the taxing
district without referendum, but not including | 4 | | excluded non-referendum bonds. For park districts (i) that were | 5 | | first
subject to this Law in 1991 or 1995 and (ii) whose | 6 | | extension for the 1994 levy
year for the payment of principal | 7 | | and interest on bonds issued by the park
district without | 8 | | referendum (but not including excluded non-referendum bonds)
| 9 | | was less than 51% of the amount for the 1991 levy year | 10 | | constituting an
extension for payment of principal and interest | 11 | | on bonds issued by the park
district without referendum (but | 12 | | not including excluded non-referendum bonds),
"debt service | 13 | | extension base" means an amount equal to that portion of the
| 14 | | extension for the 1991 levy year constituting an extension for | 15 | | payment of
principal and interest on bonds issued by the park | 16 | | district without referendum
(but not including excluded | 17 | | non-referendum bonds). A debt service extension base | 18 | | established or increased at any time pursuant to any provision | 19 | | of this Law, except Section 18-212, shall be increased each | 20 | | year commencing with the later of (i) the 2009 levy year or | 21 | | (ii) the first levy year in which this Law becomes applicable | 22 | | to the taxing district, by the lesser of 5% or the percentage | 23 | | increase in the Consumer Price Index during the 12-month | 24 | | calendar year preceding the levy year. The debt service | 25 | | extension
base may be established or increased as provided | 26 | | under Section 18-212.
"Excluded non-referendum bonds" means |
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| 1 | | (i) bonds authorized by Public
Act 88-503 and issued under | 2 | | Section 20a of the Chicago Park District Act for
aquarium and | 3 | | museum projects; (ii) bonds issued under Section 15 of the
| 4 | | Local Government Debt Reform Act; or (iii) refunding | 5 | | obligations issued
to refund or to continue to refund | 6 | | obligations initially issued pursuant to
referendum.
| 7 | | "Special purpose extensions" include, but are not limited | 8 | | to, extensions
for levies made on an annual basis for | 9 | | unemployment and workers'
compensation, self-insurance, | 10 | | contributions to pension plans, and extensions
made pursuant to | 11 | | Section 6-601 of the Illinois Highway Code for a road
| 12 | | district's permanent road fund whether levied annually or not. | 13 | | The
extension for a special service area is not included in the
| 14 | | aggregate extension.
| 15 | | "Aggregate extension base" means the taxing district's | 16 | | last preceding
aggregate extension as adjusted under Sections | 17 | | 18-135, 18-215,
and 18-230.
An adjustment under Section 18-135 | 18 | | shall be made for the 2007 levy year and all subsequent levy | 19 | | years whenever one or more counties within which a taxing | 20 | | district is located (i) used estimated valuations or rates when | 21 | | extending taxes in the taxing district for the last preceding | 22 | | levy year that resulted in the over or under extension of | 23 | | taxes, or (ii) increased or decreased the tax extension for the | 24 | | last preceding levy year as required by Section 18-135(c). | 25 | | Whenever an adjustment is required under Section 18-135, the | 26 | | aggregate extension base of the taxing district shall be equal |
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| 1 | | to the amount that the aggregate extension of the taxing | 2 | | district would have been for the last preceding levy year if | 3 | | either or both (i) actual, rather than estimated, valuations or | 4 | | rates had been used to calculate the extension of taxes for the | 5 | | last levy year, or (ii) the tax extension for the last | 6 | | preceding levy year had not been adjusted as required by | 7 | | subsection (c) of Section 18-135.
| 8 | | "Levy year" has the same meaning as "year" under Section
| 9 | | 1-155.
| 10 | | "New property" means (i) the assessed value, after final | 11 | | board of review or
board of appeals action, of new improvements | 12 | | or additions to existing
improvements on any parcel of real | 13 | | property that increase the assessed value of
that real property | 14 | | during the levy year multiplied by the equalization factor
| 15 | | issued by the Department under Section 17-30, (ii) the assessed | 16 | | value, after
final board of review or board of appeals action, | 17 | | of real property not exempt
from real estate taxation, which | 18 | | real property was exempt from real estate
taxation for any | 19 | | portion of the immediately preceding levy year, multiplied by
| 20 | | the equalization factor issued by the Department under Section | 21 | | 17-30, including the assessed value, upon final stabilization | 22 | | of occupancy after new construction is complete, of any real | 23 | | property located within the boundaries of an otherwise or | 24 | | previously exempt military reservation that is intended for | 25 | | residential use and owned by or leased to a private corporation | 26 | | or other entity, and
(iii) in counties that classify in |
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| 1 | | accordance with Section 4 of Article
IX of the
Illinois | 2 | | Constitution, an incentive property's additional assessed | 3 | | value
resulting from a
scheduled increase in the level of | 4 | | assessment as applied to the first year
final board of
review | 5 | | market value.
In addition, the county clerk in a county | 6 | | containing a population of
3,000,000 or more shall include in | 7 | | the 1997
recovered tax increment value for any school district, | 8 | | any recovered tax
increment value that was applicable to the | 9 | | 1995 tax year calculations.
| 10 | | "Qualified airport authority" means an airport authority | 11 | | organized under
the Airport Authorities Act and located in a | 12 | | county bordering on the State of
Wisconsin and having a | 13 | | population in excess of 200,000 and not greater than
500,000.
| 14 | | "Recovered tax increment value" means, except as otherwise | 15 | | provided in this
paragraph, the amount of the current year's | 16 | | equalized assessed value, in the
first year after a | 17 | | municipality terminates
the designation of an area as a | 18 | | redevelopment project area previously
established under the | 19 | | Tax Increment Allocation Development Act in the Illinois
| 20 | | Municipal Code, previously established under the Industrial | 21 | | Jobs Recovery Law
in the Illinois Municipal Code, previously | 22 | | established under the Economic Development Project Area Tax | 23 | | Increment Act of 1995, or previously established under the | 24 | | Economic
Development Area Tax Increment Allocation Act, of each | 25 | | taxable lot, block,
tract, or parcel of real property in the | 26 | | redevelopment project area over and
above the initial equalized |
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| 1 | | assessed value of each property in the
redevelopment project | 2 | | area.
For the taxes which are extended for the 1997 levy year, | 3 | | the recovered tax
increment value for a non-home rule taxing | 4 | | district that first became subject
to this Law for the 1995 | 5 | | levy year because a majority of its 1994 equalized
assessed | 6 | | value was in an affected county or counties shall be increased | 7 | | if a
municipality terminated the designation of an area in 1993 | 8 | | as a redevelopment
project area previously established under | 9 | | the Tax Increment Allocation
Development Act in the Illinois | 10 | | Municipal Code, previously established under
the Industrial | 11 | | Jobs Recovery Law in the Illinois Municipal Code, or previously
| 12 | | established under the Economic Development Area Tax Increment | 13 | | Allocation Act,
by an amount equal to the 1994 equalized | 14 | | assessed value of each taxable lot,
block, tract, or parcel of | 15 | | real property in the redevelopment project area over
and above | 16 | | the initial equalized assessed value of each property in the
| 17 | | redevelopment project area.
In the first year after a | 18 | | municipality
removes a taxable lot, block, tract, or parcel of | 19 | | real property from a
redevelopment project area established | 20 | | under the Tax Increment Allocation
Development Act in the | 21 | | Illinois
Municipal Code, the Industrial Jobs Recovery Law
in | 22 | | the Illinois Municipal Code, or the Economic
Development Area | 23 | | Tax Increment Allocation Act, "recovered tax increment value"
| 24 | | means the amount of the current year's equalized assessed value | 25 | | of each taxable
lot, block, tract, or parcel of real property | 26 | | removed from the redevelopment
project area over and above the |
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| 1 | | initial equalized assessed value of that real
property before | 2 | | removal from the redevelopment project area.
| 3 | | Except as otherwise provided in this Section, "limiting | 4 | | rate" means a
fraction the numerator of which is the last
| 5 | | preceding aggregate extension base times an amount equal to one | 6 | | plus the
extension limitation defined in this Section and the | 7 | | denominator of which
is the current year's equalized assessed | 8 | | value of all real property in the
territory under the | 9 | | jurisdiction of the taxing district during the prior
levy year. | 10 | | If an increase in the district's aggregate extension has been | 11 | | approved by referendum on or after January 1, 2014, then, for | 12 | | the year for which the increase has been approved, the limiting | 13 | | rate for that district shall be a fraction, the numerator of | 14 | | which is the sum of (i) the last
preceding aggregate extension | 15 | | base times an amount equal to one plus the
extension limitation | 16 | | defined in this Section and (ii) the amount of the increase | 17 | | approved by referendum under Section 18-190.3 of this Law, and | 18 | | the denominator of which
is the current year's equalized | 19 | | assessed value of all real property in the
territory under the | 20 | | jurisdiction of the taxing district during the prior
levy year. | 21 | | For those taxing districts that reduced their aggregate
| 22 | | extension for the last preceding levy year, the highest | 23 | | aggregate extension
in any of the last 3 preceding levy years | 24 | | shall be used for the purpose of
computing the limiting rate. | 25 | | The denominator shall not include new
property or the recovered | 26 | | tax increment
value.
If a new rate, a rate decrease, or a |
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| 1 | | limiting rate increase has been approved at an election held | 2 | | after March 21, 2006, then (i) the otherwise applicable | 3 | | limiting rate shall be increased by the amount of the new rate | 4 | | or shall be reduced by the amount of the rate decrease, as the | 5 | | case may be, or (ii) in the case of a limiting rate increase, | 6 | | the limiting rate shall be equal to the rate set forth
in the | 7 | | proposition approved by the voters for each of the years | 8 | | specified in the proposition, after
which the limiting rate of | 9 | | the taxing district shall be calculated as otherwise provided.
| 10 | | (Source: P.A. 96-501, eff. 8-14-09; 96-517, eff. 8-14-09; | 11 | | 96-1000, eff. 7-2-10; 96-1202, eff. 7-22-10; 97-611, eff. | 12 | | 1-1-12.)
| 13 | | (35 ILCS 200/18-190)
| 14 | | Sec. 18-190. Direct referendum; new rate or increased | 15 | | limiting rate. | 16 | | (a) If a new rate
is authorized by statute to be imposed | 17 | | without referendum or
is subject to a backdoor referendum, as | 18 | | defined in Section 28-2 of the Election
Code, the governing | 19 | | body of the affected taxing district before levying the new
| 20 | | rate shall submit the new rate to direct
referendum under the | 21 | | provisions of this Section and of Article 28 of the Election | 22 | | Code. Notwithstanding the provisions, requirements, or | 23 | | limitations of any other law, any tax levied for the 2005 levy | 24 | | year and all subsequent levy years by any taxing district | 25 | | subject to this Law may be extended at a rate exceeding the |
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| 1 | | rate established for that tax by referendum or statute, | 2 | | provided that the rate does not exceed the statutory ceiling | 3 | | above which the tax is not authorized to be further increased | 4 | | either by referendum or in any other manner. Notwithstanding | 5 | | the provisions, requirements, or limitations of any other law, | 6 | | all taxing districts subject to this Law shall follow the | 7 | | provisions of this Section whenever seeking referenda approval | 8 | | after March 21, 2006 to (i) levy a new tax rate authorized by | 9 | | statute or (ii) increase the limiting rate applicable to the | 10 | | taxing district. Notwithstanding any other provision of law, no | 11 | | referendum to increase a limiting rate may be submitted to the | 12 | | voters on or after January 1, 2014. All taxing districts | 13 | | subject to this Law are authorized to seek referendum approval | 14 | | of each proposition described and set forth in this Section. | 15 | | The proposition seeking to obtain referendum approval to | 16 | | levy a new tax rate as authorized in clause (i) shall be in | 17 | | substantially the following form: | 18 | | Shall ... (insert legal name, number, if any, and | 19 | | county or counties of taxing district and geographic or | 20 | | other common name by which a school or community college | 21 | | district is known and referred to), Illinois, be authorized | 22 | | to levy a new tax for ... purposes and have an additional | 23 | | tax of ...% of the equalized assessed value of the taxable | 24 | | property therein extended for such purposes? | 25 | | The votes must be recorded as "Yes" or "No". | 26 | | The proposition seeking to obtain referendum approval to |
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| 1 | | increase the limiting rate as authorized in clause (ii) shall | 2 | | be in substantially the following form: | 3 | | Shall the limiting rate under the Property Tax | 4 | | Extension Limitation Law for ... (insert legal name, | 5 | | number, if any, and county or counties of taxing district | 6 | | and geographic or other common name by which a school or | 7 | | community college district is known and referred to), | 8 | | Illinois, be increased by an additional amount equal to | 9 | | ...% above the limiting rate for the purpose of...(insert | 10 | | purpose) for levy year ... (insert the most recent levy | 11 | | year for which the limiting rate of the taxing district is | 12 | | known at the time the submission of the proposition is | 13 | | initiated by the taxing district) and be equal to ...% of | 14 | | the equalized assessed value of the taxable property | 15 | | therein for levy year(s) (insert each levy year for which | 16 | | the increase will be applicable,
which years must be | 17 | | consecutive and may not exceed 4)? | 18 | | The votes must be recorded as "Yes" or "No". | 19 | | The ballot for any proposition submitted pursuant to this | 20 | | Section shall have printed thereon, but not as a part of the | 21 | | proposition submitted, only the following supplemental | 22 | | information (which shall be supplied to the election authority | 23 | | by the taxing district) in substantially the following form: | 24 | | (1) The approximate amount of taxes extendable at the | 25 | | most recently extended
limiting rate is $..., and the | 26 | | approximate amount of taxes extendable if the
proposition |
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| 1 | | is approved is $.... | 2 | | (2) For the ... (insert the first levy year for which | 3 | | the new rate or increased
limiting rate will be applicable) | 4 | | levy year the approximate amount of the additional tax
| 5 | | extendable against property containing a single family | 6 | | residence and having a fair market
value at the time of the | 7 | | referendum of $100,000 is estimated to be $.... | 8 | | (3) Based upon an average annual percentage increase | 9 | | (or decrease) in the market
value of such property of %... | 10 | | (insert percentage equal to the average annual percentage
| 11 | | increase or decrease for the prior 3 levy years, at the | 12 | | time the submission of the
proposition is initiated by the | 13 | | taxing district, in the amount of (A) the equalized | 14 | | assessed
value of the taxable property in the taxing | 15 | | district less (B) the new property included in the
| 16 | | equalized assessed value), the approximate amount of the | 17 | | additional tax extendable against
such property for the ... | 18 | | levy year is estimated to be $... and for the ... levy
year | 19 | | is estimated to be $
.... | 20 | | (4) If the proposition is approved, the aggregate | 21 | | extension for ... (insert each levy year for which the | 22 | | increase will apply) will be determined by the limiting | 23 | | rate set forth in the proposition, rather than the | 24 | | otherwise applicable limiting rate calculated under the | 25 | | provisions of the Property Tax Extension Limitation Law | 26 | | (commonly known as the Property Tax Cap Law). |
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| 1 | | The approximate amount of taxes extendable shown in paragraph | 2 | | (1) shall be computed upon the last known equalized assessed | 3 | | value of taxable property in the taxing district (at the time | 4 | | the submission of the proposition is initiated by the taxing | 5 | | district). Paragraph (3) shall be included only if the | 6 | | increased limiting rate will be applicable for more than one | 7 | | levy year and shall list each levy year for which the increased | 8 | | limiting rate will be applicable. The additional tax shown for | 9 | | each levy year shall be the approximate dollar amount of the | 10 | | increase over the amount of the most recently completed | 11 | | extension at the time the submission of the proposition is | 12 | | initiated by the taxing district. The approximate amount of the | 13 | | additional taxes extendable shown in paragraphs (2) and (3) | 14 | | shall be calculated by multiplying $100,000 (the fair market | 15 | | value of the property without regard to any property tax | 16 | | exemptions) by (i) the percentage level of assessment | 17 | | prescribed for that property by statute, or by ordinance of the | 18 | | county board in counties that classify property for purposes of | 19 | | taxation in accordance with Section 4 of Article IX of the | 20 | | Illinois Constitution; (ii) the most recent final equalization | 21 | | factor certified to the county clerk by the Department of | 22 | | Revenue at the time the taxing district initiates the | 23 | | submission of the proposition to the electors; and (iii) either | 24 | | the new rate or the amount by which the limiting rate is to be | 25 | | increased. This amendatory Act of the 97th General Assembly is | 26 | | intended to clarify the existing requirements of this Section, |
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| 1 | | and shall not be construed to validate any prior non-compliant | 2 | | referendum language. Paragraph (4) shall be included if the | 3 | | proposition concerns a limiting rate increase but shall not be | 4 | | included if the proposition concerns a new rate. Any notice | 5 | | required to be published in connection with the submission of | 6 | | the proposition shall also contain this supplemental | 7 | | information and shall not contain any other supplemental | 8 | | information regarding the proposition. Any error, | 9 | | miscalculation, or inaccuracy in computing any amount set forth | 10 | | on the ballot and in the notice that is not deliberate shall | 11 | | not invalidate or affect the validity of any proposition | 12 | | approved. Notice of the referendum shall be published and | 13 | | posted as otherwise required by law, and the submission of the | 14 | | proposition shall be initiated as provided by law. | 15 | | If a majority of all ballots cast on the proposition are in | 16 | | favor of the proposition, the following provisions shall be | 17 | | applicable to the extension of taxes for the taxing district: | 18 | | (A) a new tax rate shall be first effective for the | 19 | | levy year in which the new rate is approved; | 20 | | (B) if the proposition provides for a new tax rate, the | 21 | | taxing district is authorized to levy a tax after the | 22 | | canvass of the results of the referendum by the election | 23 | | authority for the purposes for which the tax is authorized; | 24 | | (C) a limiting rate increase shall be first effective | 25 | | for the levy year in which the limiting rate increase is | 26 | | approved, provided that the taxing district may elect to |
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| 1 | | have a limiting rate increase be effective for the levy | 2 | | year prior to the levy year in which the limiting rate | 3 | | increase is approved unless the extension of taxes for the | 4 | | prior levy year occurs 30 days or less after the canvass of | 5 | | the results of the referendum by the election authority in | 6 | | any county in which the taxing district is located; | 7 | | (D) in order for the limiting rate increase to be first | 8 | | effective for the levy year prior to the levy year of the | 9 | | referendum, the taxing district must certify its election | 10 | | to have the limiting rate increase be effective for the | 11 | | prior levy year to the clerk of each county in which the | 12 | | taxing district is located not more than 2 days after the | 13 | | date the results of the referendum are canvassed by the | 14 | | election authority; and | 15 | | (E) if the proposition provides for a limiting rate | 16 | | increase, the increase may be effective regardless of | 17 | | whether the proposition is approved before or after the | 18 | | taxing district adopts or files its levy for any levy year.
| 19 | | Rates
required to extend taxes on levies subject to a | 20 | | backdoor referendum in each
year there is a levy are not new | 21 | | rates or rate increases under this Section if
a
levy has been | 22 | | made for the fund in one or more of the preceding 3 levy
years. | 23 | | Changes made by this amendatory Act of 1997 to this Section in
| 24 | | reference to rates required to extend taxes on levies subject | 25 | | to a backdoor
referendum in each year there is a levy are | 26 | | declarative of existing law and not
a new enactment. |
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| 1 | | (b) Whenever other applicable law authorizes a taxing | 2 | | district
subject to the
limitation
with respect to its | 3 | | aggregate extension provided for in this Law to issue bonds
or | 4 | | other obligations either without referendum or subject to | 5 | | backdoor
referendum, the taxing district may elect for each | 6 | | separate bond issuance to
submit the question of the issuance | 7 | | of the bonds or obligations directly to the
voters of the | 8 | | taxing district, and if the referendum passes the taxing
| 9 | | district is not required to comply with any backdoor referendum
| 10 | | procedures or requirements set forth in the other applicable | 11 | | law. The
direct referendum shall be initiated by ordinance or | 12 | | resolution of the
governing body of the taxing district, and | 13 | | the question shall be certified
to the proper election | 14 | | authorities in accordance with the provisions of the
Election | 15 | | Code.
| 16 | | (Source: P.A. 96-764, eff. 8-25-09; 97-1087, eff. 8-24-12.)
| 17 | | (35 ILCS 200/18-190.3 new) | 18 | | Sec. 18-190.3. Direct referendum; increased aggregate | 19 | | extension. Notwithstanding the provisions, requirements, or | 20 | | limitations of any other law, all taxing districts subject to | 21 | | this Law shall follow the provisions of this Section whenever | 22 | | seeking referendum approval on or after January 1, 2014 to | 23 | | increase the aggregate extension applicable to the taxing | 24 | | district. | 25 | | The proposition seeking to obtain referendum approval to |
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| 1 | | increase the aggregate extension shall be in substantially the | 2 | | following form: | 3 | | "Shall the aggregate extension under the Property Tax
| 4 | | Extension Limitation Law for...(insert legal name, number, | 5 | | if any, and county or counties of taxing district and | 6 | | geographic or other common name by which a school or | 7 | | community college district is known and referred to), | 8 | | Illinois, be increased by (insert the amount of increase | 9 | | sought) for levy year...(insert the levy year for which the | 10 | | increase will take effect)?" | 11 | | The votes must be recorded as "Yes" or "No". | 12 | | The ballot for any proposition submitted pursuant to this | 13 | | Section shall have printed thereon, but not as a part of the | 14 | | proposition submitted, only the following supplemental | 15 | | information (which shall be supplied to the election authority | 16 | | by the taxing district) in substantially the following form: | 17 | | "(1) The amount of taxes extended which were subject to | 18 | | the Property Tax Cap (Property Tax Extension Limitation | 19 | | Law) in levy year (insert most recent levy year) was | 20 | | (insert the most recent levy year's aggregate extension | 21 | | base). If the proposition is not approved, then the taxing | 22 | | district may increase its extension by the lesser of 5% or | 23 | | the percentage increase in the Consumer Price Index during | 24 | | the 12-month calendar year preceding (insert levy year). If | 25 | | the proposition is approved, then the taxing district may | 26 | | increase its extension in levy year (insert levy year) by |
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| 1 | | an additional (insert the amount of increase sought). | 2 | | (2) For the...(insert levy year for which
the increase | 3 | | will be applicable) levy year, the approximate amount of | 4 | | the additional tax extendable against property containing | 5 | | a single family residence and having a fair market value at | 6 | | the time of the referendum of $100,000 is estimated to be | 7 | | (insert amount).". | 8 | | The approximate amount of the additional taxes extendable | 9 | | shown in paragraph (2) shall be calculated by multiplying | 10 | | $100,000 (the fair market value of the property without regard | 11 | | to any property tax exemptions) by (i) the percentage level of | 12 | | assessment prescribed for that property by statute, or by | 13 | | ordinance of the county board in counties that classify | 14 | | property for purposes of taxation in accordance with Section 4 | 15 | | of Article IX of the Illinois Constitution; (ii) the most | 16 | | recent final equalization factor certified to the county clerk | 17 | | by the Department of Revenue at the time the taxing district | 18 | | initiates the submission of the proposition to the electors; | 19 | | and (iii) the increase in the aggregate extension proposed in | 20 | | the question; and dividing the result by the last known | 21 | | equalized assessed value of the taxing district at the time the | 22 | | submission of the question is initiated by the taxing district. | 23 | | Any notice required to be published in connection with the | 24 | | submission of the proposition shall also contain this | 25 | | supplemental information and shall not contain any other | 26 | | supplemental information regarding the proposition. Any error, |
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| 1 | | miscalculation, or inaccuracy in computing any amount set forth | 2 | | on the ballot and in the notice that is not deliberate shall | 3 | | not invalidate or affect the validity of any proposition | 4 | | approved. Notice of the referendum shall be published and | 5 | | posted as otherwise required by law, and the submission of the | 6 | | proposition shall be initiated as provided by law. | 7 | | If a majority of all ballots cast on the proposition are in | 8 | | favor of the proposition, then the district may increase its | 9 | | aggregate extension as provided in the referendum.
| 10 | | Section 99. Effective date. This Act takes effect upon | 11 | | becoming law.
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