Full Text of SB1043 101st General Assembly
SB1043ham002 101ST GENERAL ASSEMBLY | Rep. Grant Wehrli Filed: 11/6/2019
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| 1 | | AMENDMENT TO SENATE BILL 1043
| 2 | | AMENDMENT NO. ______. Amend Senate Bill 1043, AS AMENDED, | 3 | | by replacing everything after the enacting clause with the | 4 | | following:
| 5 | | "Section 5. The Property Tax Code is amended by changing | 6 | | Sections 18-165 and 18-185 and by adding Section 18-233 as | 7 | | follows:
| 8 | | (35 ILCS 200/18-165)
| 9 | | Sec. 18-165. Abatement of taxes.
| 10 | | (a) Any taxing district, upon a majority vote of its | 11 | | governing authority,
may, after the determination of the | 12 | | assessed valuation of its property, order
the clerk of that | 13 | | county to abate any portion of its taxes on the following
types | 14 | | of property:
| 15 | | (1) Commercial and industrial.
| 16 | | (A) The property of any commercial or industrial |
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| 1 | | firm,
including but not limited to the property of (i) | 2 | | any firm that
is used for collecting, separating, | 3 | | storing, or processing recyclable
materials, locating | 4 | | within the taxing district during the immediately | 5 | | preceding
year from another state, territory, or | 6 | | country, or having been newly created
within this State | 7 | | during the immediately preceding year, or expanding an
| 8 | | existing facility, or (ii) any firm that is used for | 9 | | the generation and
transmission of
electricity | 10 | | locating within the taxing district during the | 11 | | immediately
preceding year or expanding its presence | 12 | | within the taxing district during the
immediately | 13 | | preceding year by construction of a new electric | 14 | | generating
facility that uses natural gas as its fuel, | 15 | | or any firm that is used for
production operations at a | 16 | | new,
expanded, or reopened coal mine within the taxing | 17 | | district, that
has been certified as a High Impact | 18 | | Business by the Illinois Department of
Commerce and | 19 | | Economic Opportunity. The property of any firm used for | 20 | | the
generation and transmission of electricity shall | 21 | | include all property of the
firm used for transmission | 22 | | facilities as defined in Section 5.5 of the Illinois
| 23 | | Enterprise Zone Act. The abatement shall not exceed a | 24 | | period of 10 years
and the aggregate amount of abated | 25 | | taxes for all taxing districts combined
shall not | 26 | | exceed $4,000,000.
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| 1 | | (A-5) Any property in the taxing district of a new | 2 | | electric generating
facility, as defined in Section | 3 | | 605-332 of the Department of Commerce and
Economic | 4 | | Opportunity Law of the Civil Administrative Code of | 5 | | Illinois.
The abatement shall not exceed a period of 10 | 6 | | years.
The abatement shall be subject to the following | 7 | | limitations:
| 8 | | (i) if the equalized assessed valuation of the | 9 | | new electric generating
facility is equal to or | 10 | | greater than $25,000,000 but less
than | 11 | | $50,000,000, then the abatement may not exceed (i) | 12 | | over the entire term
of the abatement, 5% of the | 13 | | taxing district's aggregate taxes from the
new | 14 | | electric generating facility and (ii) in any one
| 15 | | year of abatement, 20% of the taxing district's | 16 | | taxes from the
new electric generating facility;
| 17 | | (ii) if the equalized assessed valuation of | 18 | | the new electric
generating facility is equal to or | 19 | | greater than $50,000,000 but less
than | 20 | | $75,000,000, then the abatement may not exceed (i) | 21 | | over the entire term
of the abatement, 10% of the | 22 | | taxing district's aggregate taxes from the
new | 23 | | electric generating facility and (ii) in any one
| 24 | | year of abatement, 35% of the taxing district's | 25 | | taxes from the
new electric generating facility;
| 26 | | (iii) if the equalized assessed valuation of |
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| 1 | | the new electric
generating facility
is equal to or | 2 | | greater than $75,000,000 but less
than | 3 | | $100,000,000, then the abatement may not exceed | 4 | | (i) over the entire term
of the abatement, 20% of | 5 | | the taxing district's aggregate taxes from the
new | 6 | | electric generating facility and (ii) in any one
| 7 | | year of abatement, 50% of the taxing district's | 8 | | taxes from the
new electric generating facility;
| 9 | | (iv) if the equalized assessed valuation of | 10 | | the new electric
generating facility is equal to or | 11 | | greater than $100,000,000 but less
than | 12 | | $125,000,000, then the
abatement may not exceed | 13 | | (i) over the entire term of the abatement, 30% of | 14 | | the
taxing district's aggregate taxes from the new | 15 | | electric generating facility
and (ii) in any one | 16 | | year of abatement, 60% of the taxing
district's | 17 | | taxes from the new electric generating facility;
| 18 | | (v) if the equalized assessed valuation of the | 19 | | new electric generating
facility is equal to or | 20 | | greater than $125,000,000 but less
than | 21 | | $150,000,000, then the
abatement may not exceed | 22 | | (i) over the entire term of the abatement, 40% of | 23 | | the
taxing district's aggregate taxes from the new | 24 | | electric generating facility
and (ii) in any one | 25 | | year of abatement, 60% of the taxing
district's | 26 | | taxes from the new electric generating facility;
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| 1 | | (vi) if the equalized assessed valuation of | 2 | | the new electric
generating facility is equal to or | 3 | | greater than $150,000,000, then the
abatement may | 4 | | not exceed (i) over the entire term of the | 5 | | abatement, 50% of the
taxing district's aggregate | 6 | | taxes from the new electric generating facility
| 7 | | and (ii) in any one year of abatement, 60% of the | 8 | | taxing
district's taxes from the new electric | 9 | | generating facility.
| 10 | | The abatement is not effective unless
the owner of | 11 | | the new electric generating facility agrees to
repay to | 12 | | the taxing district all amounts previously abated, | 13 | | together with
interest computed at the rate and in the | 14 | | manner provided for delinquent taxes,
in the event that | 15 | | the owner of the new electric generating facility | 16 | | closes the
new electric generating facility before the | 17 | | expiration of the
entire term of the abatement.
| 18 | | The authorization of taxing districts to abate | 19 | | taxes under this
subdivision (a)(1)(A-5) expires on | 20 | | January 1, 2010.
| 21 | | (B) The property of any commercial or industrial
| 22 | | development of at least (i) 500 acres or (ii) 225 acres | 23 | | in the case of a commercial or industrial
development | 24 | | that applies for and is granted designation as a High | 25 | | Impact Business under paragraph (F) of item (3) of | 26 | | subsection (a) of Section 5.5 of the Illinois |
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| 1 | | Enterprise Zone Act, having been created within the | 2 | | taxing
district. The abatement shall not exceed a | 3 | | period of 20 years and the
aggregate amount of abated | 4 | | taxes for all taxing districts combined shall not
| 5 | | exceed $12,000,000.
| 6 | | (C) The property of any commercial or industrial | 7 | | firm currently
located in the taxing district that | 8 | | expands a facility or its number of
employees. The | 9 | | abatement shall not exceed a period of 10 years and the
| 10 | | aggregate amount of abated taxes for all taxing | 11 | | districts combined shall not
exceed $4,000,000. The | 12 | | abatement period may be renewed at the option of the
| 13 | | taxing districts.
| 14 | | (2) Horse racing. Any property in the taxing district | 15 | | which
is used for the racing of horses and upon which | 16 | | capital improvements consisting
of expansion, improvement | 17 | | or replacement of existing facilities have been made
since | 18 | | July 1, 1987. The combined abatements for such property | 19 | | from all taxing
districts in any county shall not exceed | 20 | | $5,000,000 annually and shall not
exceed a period of 10 | 21 | | years.
| 22 | | (3) Auto racing. Any property designed exclusively for | 23 | | the racing of
motor vehicles. Such abatement shall not | 24 | | exceed a period of 10 years.
| 25 | | (4) Academic or research institute. The property of any | 26 | | academic or
research institute in the taxing district that |
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| 1 | | (i) is an exempt organization
under paragraph (3) of | 2 | | Section 501(c) of the Internal Revenue Code, (ii)
operates | 3 | | for the benefit of the public by actually and exclusively | 4 | | performing
scientific research and making the results of | 5 | | the research available to the
interested public on a | 6 | | non-discriminatory basis, and (iii) employs more than
100 | 7 | | employees. An abatement granted under this paragraph shall | 8 | | be for at
least 15 years and the aggregate amount of abated | 9 | | taxes for all taxing
districts combined shall not exceed | 10 | | $5,000,000.
| 11 | | (5) Housing for older persons. Any property in the | 12 | | taxing district that
is devoted exclusively to affordable | 13 | | housing for older households. For
purposes of this | 14 | | paragraph, "older households" means those households (i)
| 15 | | living in housing provided under any State or federal | 16 | | program that the
Department of Human Rights determines is | 17 | | specifically designed and operated to
assist elderly | 18 | | persons and is solely occupied by persons 55 years of age | 19 | | or
older and (ii) whose annual income does not exceed 80% | 20 | | of the area gross median
income, adjusted for family size, | 21 | | as such gross income and median income are
determined from | 22 | | time to time by the United States Department of Housing and
| 23 | | Urban Development. The abatement shall not exceed a period | 24 | | of 15 years, and
the aggregate amount of abated taxes for | 25 | | all taxing districts shall not exceed
$3,000,000.
| 26 | | (6) Historical society. For assessment years 1998 |
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| 1 | | through 2018, the
property of an historical society | 2 | | qualifying as an exempt organization under
Section | 3 | | 501(c)(3) of the federal Internal Revenue Code.
| 4 | | (7) Recreational facilities. Any property in the | 5 | | taxing district (i)
that is used for a municipal airport, | 6 | | (ii) that
is subject to a leasehold assessment under | 7 | | Section 9-195 of this Code and (iii)
which
is sublet from a | 8 | | park district that is leasing the property from a
| 9 | | municipality, but only if the property is used exclusively | 10 | | for recreational
facilities or for parking lots used | 11 | | exclusively for those facilities. The
abatement shall not | 12 | | exceed a period of 10 years.
| 13 | | (8) Relocated corporate headquarters. If approval | 14 | | occurs within 5 years
after the effective date of this | 15 | | amendatory Act of the 92nd General Assembly,
any property | 16 | | or a portion of any property in a taxing district that is | 17 | | used by
an eligible business for a corporate headquarters | 18 | | as defined in the Corporate
Headquarters Relocation Act. | 19 | | Instead of an abatement under this paragraph (8),
a taxing | 20 | | district may enter into an agreement with an eligible | 21 | | business to make
annual payments to that eligible business | 22 | | in an amount not to exceed the
property taxes paid directly | 23 | | or indirectly by that eligible business to the
taxing | 24 | | district and any other taxing districts for
premises | 25 | | occupied pursuant to a written lease and may make those | 26 | | payments
without the need for an annual appropriation. No |
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| 1 | | school district, however, may
enter into an agreement with, | 2 | | or abate taxes for, an eligible business unless
the | 3 | | municipality in which the corporate headquarters is | 4 | | located agrees to
provide funding to the school district in | 5 | | an amount equal to the amount abated
or paid by the school | 6 | | district as provided in this paragraph (8).
Any abatement | 7 | | ordered or
agreement entered into under this paragraph (8) | 8 | | may be effective for the entire
term specified by the | 9 | | taxing district, except the term of the abatement or
annual | 10 | | payments may not exceed 20 years. | 11 | | (9) United States Military Public/Private Residential | 12 | | Developments. Each building, structure, or other | 13 | | improvement designed, financed, constructed, renovated, | 14 | | managed, operated, or maintained after January 1, 2006 | 15 | | under a "PPV Lease", as set forth under Division 14 of | 16 | | Article 10, and any such PPV Lease.
| 17 | | (10) Property located in a business corridor that | 18 | | qualifies for an abatement under Section 18-184.10. | 19 | | (11) Under Section 11-15.4-25 of the Illinois | 20 | | Municipal Code, property located within an urban | 21 | | agricultural area that is used by a qualifying farmer for | 22 | | processing, growing, raising, or otherwise producing | 23 | | agricultural products. | 24 | | (b) Upon a majority vote of its governing authority, any | 25 | | municipality
may, after the determination of the assessed | 26 | | valuation of its property, order
the county clerk to abate any |
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| 1 | | portion of its taxes on any property that is
located within the | 2 | | corporate limits of the municipality in accordance with
Section | 3 | | 8-3-18 of the Illinois Municipal Code.
| 4 | | (c) Any taxing district may, upon a majority vote of its | 5 | | governing authority and after the determination of the assessed | 6 | | valuation of its property, order the clerk of that county to | 7 | | abate any portion of its taxes in any given year when the | 8 | | initial levy request for that year has subsequently been found | 9 | | to be in excess of the funds required for that year. In | 10 | | counties subject to the Property Tax Extension Limitation Law, | 11 | | any such abatement of taxes under this subsection shall be | 12 | | included in the aggregate extension base for the subsequent tax | 13 | | year. | 14 | | (Source: P.A. 100-1133, eff. 1-1-19.)
| 15 | | (35 ILCS 200/18-185)
| 16 | | Sec. 18-185. Short title; definitions. This Division 5 may | 17 | | be cited as the
Property Tax Extension Limitation Law. As used | 18 | | in this Division 5:
| 19 | | "Consumer Price Index" means the Consumer Price Index for | 20 | | All Urban
Consumers for all items published by the United | 21 | | States Department of Labor.
| 22 | | "Extension limitation" means (a) the lesser of 5% or the | 23 | | percentage increase
in the Consumer Price Index during the | 24 | | 12-month calendar year preceding the
levy year or (b) the rate | 25 | | of increase approved by voters under Section 18-205.
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| 1 | | "Affected county" means a county of 3,000,000 or more | 2 | | inhabitants or a
county contiguous to a county of 3,000,000 or | 3 | | more inhabitants.
| 4 | | "Taxing district" has the same meaning provided in Section | 5 | | 1-150, except as
otherwise provided in this Section. For the | 6 | | 1991 through 1994 levy years only,
"taxing district" includes | 7 | | only each non-home rule taxing district having the
majority of | 8 | | its
1990 equalized assessed value within any county or counties | 9 | | contiguous to a
county with 3,000,000 or more inhabitants. | 10 | | Beginning with the 1995 levy
year, "taxing district" includes | 11 | | only each non-home rule taxing district
subject to this Law | 12 | | before the 1995 levy year and each non-home rule
taxing | 13 | | district not subject to this Law before the 1995 levy year | 14 | | having the
majority of its 1994 equalized assessed value in an | 15 | | affected county or
counties. Beginning with the levy year in
| 16 | | which this Law becomes applicable to a taxing district as
| 17 | | provided in Section 18-213, "taxing district" also includes | 18 | | those taxing
districts made subject to this Law as provided in | 19 | | Section 18-213.
| 20 | | "Aggregate extension" for taxing districts to which this | 21 | | Law applied before
the 1995 levy year means the annual | 22 | | corporate extension for the taxing
district and those special | 23 | | purpose extensions that are made annually for
the taxing | 24 | | district, excluding special purpose extensions: (a) made for | 25 | | the
taxing district to pay interest or principal on general | 26 | | obligation bonds
that were approved by referendum; (b) made for |
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| 1 | | any taxing district to pay
interest or principal on general | 2 | | obligation bonds issued before October 1,
1991; (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 October 1,
1991; (d)
made for any taxing district to pay | 6 | | interest or principal on bonds
issued to refund or continue to | 7 | | refund bonds issued after October 1, 1991 that
were approved by | 8 | | referendum; (e)
made for any taxing district to pay interest
or | 9 | | principal on revenue bonds issued before October 1, 1991 for | 10 | | payment of
which a property tax levy or the full faith and | 11 | | credit of the unit of local
government is pledged; however, a | 12 | | tax for the payment of interest or principal
on those bonds | 13 | | shall be made only after the governing body of the unit of | 14 | | local
government finds that all other sources for payment are | 15 | | insufficient to make
those payments; (f) made for payments | 16 | | under a building commission lease when
the lease payments are | 17 | | for the retirement of bonds issued by the commission
before | 18 | | October 1, 1991, to pay for the building project; (g) made for | 19 | | payments
due under installment contracts entered into before | 20 | | October 1, 1991;
(h) made for payments of principal and | 21 | | interest on bonds issued under the
Metropolitan Water | 22 | | Reclamation District Act to finance construction projects
| 23 | | initiated before October 1, 1991; (i) made for payments of | 24 | | principal and
interest on limited bonds, as defined in Section | 25 | | 3 of the Local Government Debt
Reform Act, in an amount not to | 26 | | exceed the debt service extension base less
the amount in items |
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| 1 | | (b), (c), (e), and (h) of this definition for
non-referendum | 2 | | obligations, except obligations initially issued pursuant to
| 3 | | referendum; (j) made for payments of principal and interest on | 4 | | bonds
issued under Section 15 of the Local Government Debt | 5 | | Reform Act; (k)
made
by a school district that participates in | 6 | | the Special Education District of
Lake County, created by | 7 | | special education joint agreement under Section
10-22.31 of the | 8 | | School Code, for payment of the school district's share of the
| 9 | | amounts required to be contributed by the Special Education | 10 | | District of Lake
County to the Illinois Municipal Retirement | 11 | | Fund under Article 7 of the
Illinois Pension Code; the amount | 12 | | of any extension under this item (k) shall be
certified by the | 13 | | school district to the county clerk; (l) made to fund
expenses | 14 | | of providing joint recreational programs for persons with | 15 | | disabilities under
Section 5-8 of
the
Park District Code or | 16 | | Section 11-95-14 of the Illinois Municipal Code; (m) made for | 17 | | temporary relocation loan repayment purposes pursuant to | 18 | | Sections 2-3.77 and 17-2.2d of the School Code; (n) made for | 19 | | payment of principal and interest on any bonds issued under the | 20 | | authority of Section 17-2.2d of the School Code; (o) made for | 21 | | contributions to a firefighter's pension fund created under | 22 | | Article 4 of the Illinois Pension Code, to the extent of the | 23 | | amount certified under item (5) of Section 4-134 of the | 24 | | Illinois Pension Code; and (p) made for road purposes in the | 25 | | first year after a township assumes the rights, powers, duties, | 26 | | assets, property, liabilities, obligations, and
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| 1 | | responsibilities of a road district abolished under the | 2 | | provisions of Section 6-133 of the Illinois Highway Code.
| 3 | | "Aggregate extension" for the taxing districts to which | 4 | | this Law did not
apply before the 1995 levy year (except taxing | 5 | | districts subject to this Law
in
accordance with Section | 6 | | 18-213) means the annual corporate extension for the
taxing | 7 | | district and those special purpose extensions that are made | 8 | | annually for
the taxing district, excluding special purpose | 9 | | extensions: (a) made for the
taxing district to pay interest or | 10 | | principal on general obligation bonds that
were approved by | 11 | | referendum; (b) made for any taxing district to pay interest
or | 12 | | principal on general obligation bonds issued before March 1, | 13 | | 1995; (c) made
for any taxing district to pay interest or | 14 | | principal on bonds issued to refund
or continue to refund those | 15 | | bonds issued before March 1, 1995; (d) made for any
taxing | 16 | | district to pay interest or principal on bonds issued to refund | 17 | | or
continue to refund bonds issued after March 1, 1995 that | 18 | | were approved by
referendum; (e) made for any taxing district | 19 | | to pay interest or principal on
revenue bonds issued before | 20 | | March 1, 1995 for payment of which a property tax
levy or the | 21 | | full faith and credit of the unit of local government is | 22 | | pledged;
however, a tax for the payment of interest or | 23 | | principal on those bonds shall be
made only after the governing | 24 | | body of the unit of local government finds that
all other | 25 | | sources for payment are insufficient to make those payments; | 26 | | (f) made
for payments under a building commission lease when |
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| 1 | | the lease payments are for
the retirement of bonds issued by | 2 | | the commission before March 1, 1995 to
pay for the building | 3 | | project; (g) made for payments due under installment
contracts | 4 | | entered into before March 1, 1995; (h) made for payments of
| 5 | | principal and interest on bonds issued under the Metropolitan | 6 | | Water Reclamation
District Act to finance construction | 7 | | projects initiated before October 1,
1991; (h-4) made for | 8 | | stormwater management purposes by the Metropolitan Water | 9 | | Reclamation District of Greater Chicago under Section 12 of the | 10 | | Metropolitan Water Reclamation District Act; (i) made for | 11 | | payments of principal and interest on limited bonds,
as defined | 12 | | in Section 3 of the Local Government Debt Reform Act, in an | 13 | | amount
not to exceed the debt service extension base less the | 14 | | amount in items (b),
(c), and (e) of this definition for | 15 | | non-referendum obligations, except
obligations initially | 16 | | issued pursuant to referendum and bonds described in
subsection | 17 | | (h) of this definition; (j) made for payments of
principal and | 18 | | interest on bonds issued under Section 15 of the Local | 19 | | Government
Debt Reform Act; (k) made for payments of principal | 20 | | and interest on bonds
authorized by Public Act 88-503 and | 21 | | issued under Section 20a of the Chicago
Park District Act for | 22 | | aquarium or
museum projects; (l) made for payments of principal | 23 | | and interest on
bonds
authorized by Public Act 87-1191 or | 24 | | 93-601 and (i) issued pursuant to Section 21.2 of the Cook | 25 | | County Forest
Preserve District Act, (ii) issued under Section | 26 | | 42 of the Cook County
Forest Preserve District Act for |
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| 1 | | zoological park projects, or (iii) issued
under Section 44.1 of | 2 | | the Cook County Forest Preserve District Act for
botanical | 3 | | gardens projects; (m) made
pursuant
to Section 34-53.5 of the | 4 | | School Code, whether levied annually or not;
(n) made to fund | 5 | | expenses of providing joint recreational programs for persons | 6 | | with disabilities under Section 5-8 of the Park
District Code | 7 | | or Section 11-95-14 of the Illinois Municipal Code;
(o) made by | 8 | | the
Chicago Park
District for recreational programs for persons | 9 | | with disabilities under subsection (c) of
Section
7.06 of the | 10 | | Chicago Park District Act; (p) made for contributions to a | 11 | | firefighter's pension fund created under Article 4 of the | 12 | | Illinois Pension Code, to the extent of the amount certified | 13 | | under item (5) of Section 4-134 of the Illinois Pension Code; | 14 | | (q) made by Ford Heights School District 169 under Section | 15 | | 17-9.02 of the School Code; and (r) made for the purpose of | 16 | | making employer contributions to the Public School Teachers' | 17 | | Pension and Retirement Fund of Chicago under Section 34-53 of | 18 | | the School Code.
| 19 | | "Aggregate extension" for all taxing districts to which | 20 | | this Law applies in
accordance with Section 18-213, except for | 21 | | those taxing districts subject to
paragraph (2) of subsection | 22 | | (e) of Section 18-213, means the annual corporate
extension for | 23 | | the
taxing district and those special purpose extensions that | 24 | | are made annually for
the taxing district, excluding special | 25 | | purpose extensions: (a) made for the
taxing district to pay | 26 | | interest or principal on general obligation bonds that
were |
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| 1 | | approved by referendum; (b) made for any taxing district to pay | 2 | | interest
or principal on general obligation bonds issued before | 3 | | the date on which the
referendum making this
Law applicable to | 4 | | the taxing district is held; (c) made
for any taxing district | 5 | | to pay interest or principal on bonds issued to refund
or | 6 | | continue to refund those bonds issued before the date on which | 7 | | the
referendum making this Law
applicable to the taxing | 8 | | district is held;
(d) made for any
taxing district to pay | 9 | | interest or principal on bonds issued to refund or
continue to | 10 | | refund bonds issued after the date on which the referendum | 11 | | making
this Law
applicable to the taxing district is held if | 12 | | the bonds were approved by
referendum after the date on which | 13 | | the referendum making this Law
applicable to the taxing | 14 | | district is held; (e) made for any
taxing district to pay | 15 | | interest or principal on
revenue bonds issued before the date | 16 | | on which the referendum making this Law
applicable to the
| 17 | | taxing district is held for payment of which a property tax
| 18 | | levy or the full faith and credit of the unit of local | 19 | | government is pledged;
however, a tax for the payment of | 20 | | interest or principal on those bonds shall be
made only after | 21 | | the governing body of the unit of local government finds that
| 22 | | all other sources for payment are insufficient to make those | 23 | | payments; (f) made
for payments under a building commission | 24 | | lease when the lease payments are for
the retirement of bonds | 25 | | issued by the commission before the date on which the
| 26 | | referendum making this
Law applicable to the taxing district is |
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| 1 | | held to
pay for the building project; (g) made for payments due | 2 | | under installment
contracts entered into before the date on | 3 | | which the referendum making this Law
applicable to
the taxing | 4 | | district is held;
(h) made for payments
of principal and | 5 | | interest on limited bonds,
as defined in Section 3 of the Local | 6 | | Government Debt Reform Act, in an amount
not to exceed the debt | 7 | | service extension base less the amount in items (b),
(c), and | 8 | | (e) of this definition for non-referendum obligations, except
| 9 | | obligations initially issued pursuant to referendum; (i) made | 10 | | for payments
of
principal and interest on bonds issued under | 11 | | Section 15 of the Local Government
Debt Reform Act;
(j)
made | 12 | | for a qualified airport authority to pay interest or principal | 13 | | on
general obligation bonds issued for the purpose of paying | 14 | | obligations due
under, or financing airport facilities | 15 | | required to be acquired, constructed,
installed or equipped | 16 | | pursuant to, contracts entered into before March
1, 1996 (but | 17 | | not including any amendments to such a contract taking effect | 18 | | on
or after that date); (k) made to fund expenses of providing | 19 | | joint
recreational programs for persons with disabilities | 20 | | under Section 5-8 of
the
Park District Code or Section 11-95-14 | 21 | | of the Illinois Municipal Code; (l) made for contributions to a | 22 | | firefighter's pension fund created under Article 4 of the | 23 | | Illinois Pension Code, to the extent of the amount certified | 24 | | under item (5) of Section 4-134 of the Illinois Pension Code; | 25 | | and (m) made for the taxing district to pay interest or | 26 | | principal on general obligation bonds issued pursuant to |
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| 1 | | Section 19-3.10 of the School Code.
| 2 | | "Aggregate extension" for all taxing districts to which | 3 | | this Law applies in
accordance with paragraph (2) of subsection | 4 | | (e) of Section 18-213 means the
annual corporate extension for | 5 | | the
taxing district and those special purpose extensions that | 6 | | are made annually for
the taxing district, excluding special | 7 | | purpose extensions: (a) made for the
taxing district to pay | 8 | | interest or principal on general obligation bonds that
were | 9 | | approved by referendum; (b) made for any taxing district to pay | 10 | | interest
or principal on general obligation bonds issued before | 11 | | March 7, 1997 ( the effective date of Public Act 89-718)
this | 12 | | amendatory Act of 1997 ;
(c) made
for any taxing district to pay | 13 | | interest or principal on bonds issued to refund
or continue to | 14 | | refund those bonds issued before March 7, 1997 ( the effective | 15 | | date
of Public Act 89-718) 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 | | March 7, 1997 ( the effective date of Public Act 89-718) this | 19 | | amendatory Act
of 1997 if the bonds were approved by referendum | 20 | | after March 7, 1997 ( the effective date of Public Act 89-718)
| 21 | | this amendatory Act of 1997 ;
(e) made for any
taxing district | 22 | | to pay interest or principal on
revenue bonds issued before | 23 | | March 7, 1997 ( the effective date of Public Act 89-718) this | 24 | | amendatory Act of 1997
for payment of which a property tax
levy | 25 | | or the full faith and credit of the unit of local government is | 26 | | pledged;
however, a tax for the payment of interest or |
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| 1 | | principal on those bonds shall be
made only after the governing | 2 | | body of the unit of local government finds that
all other | 3 | | sources for payment are insufficient to make those payments; | 4 | | (f) made
for payments under a building commission lease when | 5 | | the lease payments are for
the retirement of bonds issued by | 6 | | the commission before March 7, 1997 ( the effective date
of | 7 | | Public Act 89-718) this amendatory Act of 1997
to
pay for the | 8 | | building project; (g) made for payments due under installment
| 9 | | contracts entered into before March 7, 1997 ( the effective date | 10 | | of Public Act 89-718) this amendatory Act of
1997 ;
(h) made for | 11 | | payments
of principal and interest on limited bonds,
as defined | 12 | | in Section 3 of the Local Government Debt Reform Act, in an | 13 | | amount
not to exceed the debt service extension base less the | 14 | | amount in items (b),
(c), and (e) of this definition for | 15 | | non-referendum obligations, except
obligations initially | 16 | | issued pursuant to referendum; (i) made for payments
of
| 17 | | principal and interest on bonds issued under Section 15 of the | 18 | | Local Government
Debt Reform Act;
(j)
made for a qualified | 19 | | airport authority to pay interest or principal on
general | 20 | | obligation bonds issued for the purpose of paying obligations | 21 | | due
under, or financing airport facilities required to be | 22 | | acquired, constructed,
installed or equipped pursuant to, | 23 | | contracts entered into before March
1, 1996 (but not including | 24 | | any amendments to such a contract taking effect on
or after | 25 | | that date); (k) made to fund expenses of providing joint
| 26 | | recreational programs for persons with disabilities under |
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| 1 | | Section 5-8 of
the
Park District Code or Section 11-95-14 of | 2 | | the Illinois Municipal Code; and (l) made for contributions to | 3 | | a firefighter's pension fund created under Article 4 of the | 4 | | Illinois Pension Code, to the extent of the amount certified | 5 | | under item (5) of Section 4-134 of the Illinois Pension Code.
| 6 | | "Debt service extension base" means an amount equal to that | 7 | | portion of the
extension for a taxing district for the 1994 | 8 | | levy year, or for those taxing
districts subject to this Law in | 9 | | accordance with Section 18-213, except for
those subject to | 10 | | paragraph (2) of subsection (e) of Section 18-213, for the
levy
| 11 | | year in which the referendum making this Law applicable to the | 12 | | taxing district
is held, or for those taxing districts subject | 13 | | to this Law in accordance with
paragraph (2) of subsection (e) | 14 | | of Section 18-213 for the 1996 levy year,
constituting an
| 15 | | extension for payment of principal and interest on bonds issued | 16 | | by the taxing
district without referendum, but not including | 17 | | excluded non-referendum bonds. For park districts (i) that were | 18 | | first
subject to this Law in 1991 or 1995 and (ii) whose | 19 | | extension for the 1994 levy
year for the payment of principal | 20 | | and interest on bonds issued by the park
district without | 21 | | referendum (but not including excluded non-referendum bonds)
| 22 | | was less than 51% of the amount for the 1991 levy year | 23 | | constituting an
extension for payment of principal and interest | 24 | | on bonds issued by the park
district without referendum (but | 25 | | not including excluded non-referendum bonds),
"debt service | 26 | | extension base" means an amount equal to that portion of the
|
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| 1 | | extension for the 1991 levy year constituting an extension for | 2 | | payment of
principal and interest on bonds issued by the park | 3 | | district without referendum
(but not including excluded | 4 | | non-referendum bonds). A debt service extension base | 5 | | established or increased at any time pursuant to any provision | 6 | | of this Law, except Section 18-212, shall be increased each | 7 | | year commencing with the later of (i) the 2009 levy year or | 8 | | (ii) the first levy year in which this Law becomes applicable | 9 | | to the taxing district, by the lesser of 5% or the percentage | 10 | | increase in the Consumer Price Index during the 12-month | 11 | | calendar year preceding the levy year. The debt service | 12 | | extension
base may be established or increased as provided | 13 | | under Section 18-212.
"Excluded non-referendum bonds" means | 14 | | (i) bonds authorized by Public
Act 88-503 and issued under | 15 | | Section 20a of the Chicago Park District Act for
aquarium and | 16 | | museum projects; (ii) bonds issued under Section 15 of the
| 17 | | Local Government Debt Reform Act; or (iii) refunding | 18 | | obligations issued
to refund or to continue to refund | 19 | | obligations initially issued pursuant to
referendum.
| 20 | | "Special purpose extensions" include, but are not limited | 21 | | to, extensions
for levies made on an annual basis for | 22 | | unemployment and workers'
compensation, self-insurance, | 23 | | contributions to pension plans, and extensions
made pursuant to | 24 | | Section 6-601 of the Illinois Highway Code for a road
| 25 | | district's permanent road fund whether levied annually or not. | 26 | | The
extension for a special service area is not included in the
|
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| 1 | | aggregate extension.
| 2 | | "Aggregate extension base" means the taxing district's | 3 | | last preceding
aggregate extension , as adjusted under Sections | 4 | | 18-135, 18-215,
18-230, and 18-206 , and 18-233, plus the amount | 5 | | of any abatement granted in the last preceding levy year under | 6 | | subsection (c) of Section 18-165 .
An adjustment under Section | 7 | | 18-135 shall be made for the 2007 levy year and all subsequent | 8 | | levy 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. Whenever an adjustment is | 23 | | required under Section 18-233, the aggregate extension base of | 24 | | the taxing district shall be equal to the amount that the | 25 | | aggregate extension of the taxing district would have been for | 26 | | the last preceding levy year if the actual valuations and |
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| 1 | | rates, as adjusted for the increases or reductions specified in | 2 | | Section 18-233, had been used to calculate the extension of | 3 | | taxes for the levy year in which the overextension or | 4 | | underextension occurred.
| 5 | | Notwithstanding any other provision of law, for levy year | 6 | | 2012, the aggregate extension base for West Northfield School | 7 | | District No. 31 in Cook County shall be $12,654,592. | 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,
(iii) in counties that classify in accordance |
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| 1 | | with Section 4 of Article
IX of the
Illinois Constitution, an | 2 | | incentive property's additional assessed value
resulting from | 3 | | a
scheduled increase in the level of assessment as applied to | 4 | | the first year
final board of
review market value, and (iv) any | 5 | | increase in assessed value due to oil or gas production from an | 6 | | oil or gas well required to be permitted under the Hydraulic | 7 | | Fracturing Regulatory Act that was not produced in or accounted | 8 | | for during the previous levy year.
In addition, the county | 9 | | clerk in a county containing a population of
3,000,000 or more | 10 | | shall include in the 1997
recovered tax increment value for any | 11 | | school district, any recovered tax
increment value that was | 12 | | applicable to the 1995 tax year calculations.
| 13 | | "Qualified airport authority" means an airport authority | 14 | | organized under
the Airport Authorities Act and located in a | 15 | | county bordering on the State of
Wisconsin and having a | 16 | | population in excess of 200,000 and not greater than
500,000.
| 17 | | "Recovered tax increment value" means, except as otherwise | 18 | | provided in this
paragraph, the amount of the current year's | 19 | | equalized assessed value, in the
first year after a | 20 | | municipality terminates
the designation of an area as a | 21 | | redevelopment project area previously
established under the | 22 | | Tax Increment Allocation Redevelopment Development Act in the | 23 | | Illinois
Municipal Code, previously established under the | 24 | | Industrial Jobs Recovery Law
in the Illinois Municipal Code, | 25 | | previously established under the Economic Development Project | 26 | | Area Tax Increment Act of 1995, or previously established under |
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| 1 | | the Economic
Development Area Tax Increment Allocation Act, of | 2 | | each taxable lot, block,
tract, or parcel of real property in | 3 | | the redevelopment project area over and
above the initial | 4 | | equalized assessed value of each property in the
redevelopment | 5 | | project area.
For the taxes which are extended for the 1997 | 6 | | levy year, the recovered tax
increment value for a non-home | 7 | | rule taxing district that first became subject
to this Law for | 8 | | the 1995 levy year because a majority of its 1994 equalized
| 9 | | assessed value was in an affected county or counties shall be | 10 | | increased if a
municipality terminated the designation of an | 11 | | area in 1993 as a redevelopment
project area previously | 12 | | established under the Tax Increment Allocation Redevelopment
| 13 | | Development Act in the Illinois Municipal Code, previously | 14 | | established under
the Industrial Jobs Recovery Law in the | 15 | | Illinois Municipal Code, or previously
established under the | 16 | | Economic Development Area Tax Increment Allocation Act,
by an | 17 | | amount equal to the 1994 equalized assessed value of each | 18 | | taxable lot,
block, tract, or parcel of real property in the | 19 | | redevelopment project area over
and above the initial equalized | 20 | | assessed value of each property in the
redevelopment project | 21 | | area.
In the first year after a municipality
removes a taxable | 22 | | lot, block, tract, or parcel of real property from a
| 23 | | redevelopment project area established under the Tax Increment | 24 | | Allocation Redevelopment
Development Act in the Illinois
| 25 | | Municipal Code, the Industrial Jobs Recovery Law
in the | 26 | | Illinois Municipal Code, or the Economic
Development Area Tax |
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| 1 | | Increment Allocation Act, "recovered tax increment value"
| 2 | | means the amount of the current year's equalized assessed value | 3 | | of each taxable
lot, block, tract, or parcel of real property | 4 | | removed from the redevelopment
project area over and above the | 5 | | initial equalized assessed value of that real
property before | 6 | | removal from the redevelopment project area.
| 7 | | Except as otherwise provided in this Section, "limiting | 8 | | rate" means a
fraction the numerator of which is the last
| 9 | | preceding aggregate extension base times an amount equal to one | 10 | | plus the
extension limitation defined in this Section and the | 11 | | denominator of which
is the current year's equalized assessed | 12 | | value of all real property in the
territory under the | 13 | | jurisdiction of the taxing district during the prior
levy year. | 14 | | For those taxing districts that reduced their aggregate
| 15 | | extension for the last preceding levy year, except for school | 16 | | districts that reduced their extension for educational | 17 | | purposes pursuant to Section 18-206, the highest aggregate | 18 | | extension
in any of the last 3 preceding levy years shall be | 19 | | used for the purpose of
computing the limiting rate. The | 20 | | denominator shall not include new
property or the recovered tax | 21 | | increment
value.
If a new rate, a rate decrease, or a limiting | 22 | | rate increase has been approved at an election held after March | 23 | | 21, 2006, then (i) the otherwise applicable limiting rate shall | 24 | | be increased by the amount of the new rate or shall be reduced | 25 | | by the amount of the rate decrease, as the case may be, or (ii) | 26 | | in the case of a limiting rate increase, the limiting rate |
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| 1 | | shall be equal to the rate set forth
in the proposition | 2 | | approved by the voters for each of the years specified in the | 3 | | proposition, after
which the limiting rate of the taxing | 4 | | district shall be calculated as otherwise provided. In the case | 5 | | of a taxing district that obtained referendum approval for an | 6 | | increased limiting rate on March 20, 2012, the limiting rate | 7 | | for tax year 2012 shall be the rate that generates the | 8 | | approximate total amount of taxes extendable for that tax year, | 9 | | as set forth in the proposition approved by the voters; this | 10 | | rate shall be the final rate applied by the county clerk for | 11 | | the aggregate of all capped funds of the district for tax year | 12 | | 2012.
| 13 | | (Source: P.A. 99-143, eff. 7-27-15; 99-521, eff. 6-1-17; | 14 | | 100-465, eff. 8-31-17; revised 8-12-19.)
| 15 | | (35 ILCS 200/18-233 new) | 16 | | Sec. 18-233. Adjustments for certificates of error, | 17 | | certain court orders, or final administrative decisions of the | 18 | | Property Tax Appeal Board. Beginning in levy year 2019, a | 19 | | taxing district levy shall be increased by a prior year | 20 | | adjustment whenever an assessment decrease due to the issuance | 21 | | of a certificate of error, a court order issued pursuant to an | 22 | | assessment valuation complaint under Section 23-15, or a final | 23 | | administrative decision of the Property Tax Appeal Board | 24 | | results in a refund from the taxing district of a portion of | 25 | | the property tax revenue distributed to the taxing district. |
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| 1 | | Whenever an adjustment is required under this Section, the | 2 | | aggregate levy of the taxing district shall be increased by a | 3 | | supplemental levy to recapture the property tax revenue lost by | 4 | | the refunds paid by the taxing district. The supplemental levy | 5 | | shall be applied by the county clerk annually to the taxing | 6 | | district's total levy in an amount determined by the county | 7 | | treasurer who shall certify to the county clerk the aggregate | 8 | | refunds paid by a taxing district for purposes of this Section. | 9 | | The supplemental levy may not exceed an amount equal to the | 10 | | aggregate refunds paid by the taxing district for the 12-month | 11 | | period prior to November 1 of each year. On or before November | 12 | | 15 of each year, the county treasurer shall certify the | 13 | | aggregate refunds paid by a taxing district during such | 14 | | 12-month period for purposes of this Section. For purposes of | 15 | | this Division, the taxing district's aggregate extension base | 16 | | shall not include the supplemental levy authorized under this | 17 | | Section.
| 18 | | Section 99. Effective date. This Act takes effect upon | 19 | | becoming law.".
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