Full Text of HJR0101 096th General Assembly
HJ0101 96TH GENERAL ASSEMBLY
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| HOUSE JOINT RESOLUTION
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| WHEREAS, The Metropolitan Pier and Exposition Authority is | 3 |
| a municipal corporation created by the General Assembly; and
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| WHEREAS, The Metropolitan Pier and Exposition Authority | 5 |
| owns and manages McCormick Place and historic Navy Pier for the | 6 |
| purposes of tourism, conventions, fairs, and expositions; | 7 |
| McCormick Place and Navy Pier function as prominent economic | 8 |
| engines for both the City of Chicago and the State; and
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| WHEREAS, The Metropolitan Pier and Exposition Authority is | 10 |
| directed by a Board of Trustees appointed by the Governor of | 11 |
| the State of Illinois and the Mayor of the City of Chicago; and
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| WHEREAS, The Metropolitan Pier and Exposition Authority | 13 |
| has statutory authority to levy taxes for debt service through | 14 |
| a Metropolitan Pier and Exposition Authority Retailers' | 15 |
| Occupation Tax (1% food and beverage tax in a defined downtown | 16 |
| district within the City of Chicago and O'Hare International | 17 |
| Airport and Midway Airport), a 2.5% hotel tax imposed within | 18 |
| the City of Chicago, a 6% auto rental tax imposed within Cook | 19 |
| County, and a $1 departure tax on public transportation at | 20 |
| O'Hare International Airport and Midway Airport; and
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| WHEREAS, Since the 1980s, the State has provided dedicated |
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| backing through State use and occupation tax revenues for | 2 |
| Metropolitan Pier and Exposition Authority debt service on its | 3 |
| bonds in the amount of $31.7 million annually; and
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| WHEREAS, Since September 11, 2001, the Metropolitan Pier | 5 |
| and Exposition Authority tax collections have fallen short of | 6 |
| annual debt service by an average of $4.1 million dollars; and | 7 |
| WHEREAS, Reserves in the Metropolitan Pier and Exposition | 8 |
| Authority Fund, which initially covered this annual tax revenue | 9 |
| shortfall, have been depleted; and | 10 |
| WHEREAS, Additional distributions of State use and | 11 |
| occupation tax revenues to the Authority to make up the | 12 |
| Authority's shortfalls in its tax revenue collections have been | 13 |
| necessary since Fiscal Year 2009; and | 14 |
| WHEREAS, The Metropolitan Pier and Exposition Authority, | 15 |
| by its own projections, estimates that cumulative draws on the | 16 |
| State use and occupation taxes through Fiscal Year 2027 may | 17 |
| total $804 million before the Authority's projected tax | 18 |
| collections are sufficient for existing debt service; and | 19 |
| WHEREAS, Metropolitan Pier and Exposition Authority tax | 20 |
| collection shortfalls have also ended the flow of surplus funds | 21 |
| from which the repair and maintenance of existing Metropolitan |
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| Pier and Exposition facilities could be paid; and | 2 |
| WHEREAS, The economic downturn and competitive pressures | 3 |
| within the convention industry continue to erode the | 4 |
| Metropolitan Pier and Exposition Authority's operational | 5 |
| profitability; and | 6 |
| WHEREAS, Trade shows formerly held at the Metropolitan Pier | 7 |
| and Exposition Authority's convention center on a long-term | 8 |
| basis continue their exodus to alternative venues in Nevada and | 9 |
| Florida; and | 10 |
| WHEREAS, The operational stability and profitability of | 11 |
| the Metropolitan Pier and Exposition Authority is of genuine | 12 |
| interest to the General Assembly and the people of the State; | 13 |
| therefore, be it
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| RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE | 15 |
| NINETY-SIXTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, THE | 16 |
| SENATE CONCURRING HEREIN, that there is created the Joint | 17 |
| Committee on the Metropolitan Pier and Exposition Authority; | 18 |
| and be it further
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| RESOLVED, That the Joint Committee shall consist of 16 | 20 |
| members as follows: the President of the Senate and the Speaker | 21 |
| of the House, who shall serve as co-chairs of the Committee; |
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| the Minority Leader of the Senate and Minority Leader of the | 2 |
| House, who, if they so choose, may serve as co-vice chairs; 4 | 3 |
| members of the General Assembly appointed by the President of | 4 |
| the Senate; 4 members of the General Assembly appointed by the | 5 |
| Speaker of the House of Representatives; 2 members of the | 6 |
| General Assembly appointed by the Minority Leader of the | 7 |
| Senate; and 2 members of the General Assembly appointed by the | 8 |
| Minority Leader of the House of Representatives; and be it | 9 |
| further | 10 |
| RESOLVED, That the Joint Committee shall meet at the call | 11 |
| of the Speaker and President; and be it further | 12 |
| RESOLVED, That the Joint Committee shall examine and | 13 |
| recommend ways to improve the Metropolitan Pier and Exposition | 14 |
| Authority's operational stability and profitability; and be it | 15 |
| further | 16 |
| RESOLVED, That the Joint Committee shall report its | 17 |
| findings and recommendations to the General Assembly no later | 18 |
| than April 30, 2010; and be it further | 19 |
| RESOLVED, That a suitable copy of this resolution be | 20 |
| presented to the Board of Trustees of the Metropolitan Pier and | 21 |
| Exposition Authority.
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