Full Text of HB1721 95th General Assembly
HB1721 95TH GENERAL ASSEMBLY
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95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008 HB1721
Introduced 2/22/2007, by Rep. Bob Biggins SYNOPSIS AS INTRODUCED: |
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65 ILCS 5/11-65-10 new |
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65 ILCS 5/11-65-15 new |
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65 ILCS 5/11-65-20 new |
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65 ILCS 5/11-65-25 new |
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Amends the Illinois Municipal Code. Authorizes municipalities to incorporate a public-facilities corporation to exercise, as business agent of the municipality, the powers of the municipality with respect to municipal convention halls. Sets forth requirements for the public-facilities corporations. Provides that public-facilities corporations are exempt from property taxation and State use and occupation taxes. Effective immediately.
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FISCAL NOTE ACT MAY APPLY | |
HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY |
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A BILL FOR
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HB1721 |
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LRB095 04887 BDD 24951 b |
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| AN ACT concerning local government.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The Illinois Municipal Code is amended by adding | 5 |
| Sections 11-65-10, 11-65-15, 11-65-20, and 11-65-25 as | 6 |
| follows: | 7 |
| (65 ILCS 5/11-65-10 new) | 8 |
| Sec. 11-65-10. Public-facilities corporations authorized.
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| (a) Each municipality referenced in Section 11-65-2 is | 10 |
| authorized to incorporate a public-facilities corporation to | 11 |
| exercise, as business agent of the municipality, the powers of | 12 |
| the municipality set forth in Section 11-65-2, Section 11-65-6 | 13 |
| and Section 11-65-7, and also the power of the municipality to | 14 |
| acquire by dedication, gift, lease, contract, or purchase all | 15 |
| property and rights, necessary or proper, within the corporate | 16 |
| limits of the municipality, for municipal convention hall | 17 |
| purposes. | 18 |
| (b) In this Division 65, unless the context otherwise | 19 |
| requires, a "public-facilities corporation" means an Illinois | 20 |
| not-for-profit corporation whose purpose is charitable and | 21 |
| civic, organized solely for the purpose of (i) acquiring a site | 22 |
| or sites appropriate for a municipal convention hall; (ii) | 23 |
| constructing, building, and equipping thereon a municipal |
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HB1721 |
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LRB095 04887 BDD 24951 b |
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| convention hall; and (iii) collecting the revenues therefrom, | 2 |
| entirely without profit to the public-facilities corporation, | 3 |
| its officers, or directors. A public-facilities corporation | 4 |
| shall assist the municipality it serves in the municipality's | 5 |
| essential governmental purposes. | 6 |
| (c) The municipality shall retain control of the | 7 |
| public-facilities corporation by means of the municipality's | 8 |
| expressed legal right, set forth in the articles of | 9 |
| incorporation of the public-facilities corporation, to | 10 |
| appoint, remove, and replace the members of the board of | 11 |
| directors of the public-facilities corporation. The directors | 12 |
| and officers of the public-facilities corporation shall serve | 13 |
| without compensation but may be reimbursed for their reasonable | 14 |
| expenses that are incurred on behalf of the public-facilities | 15 |
| corporation. Upon retirement or redemption of any bonds or | 16 |
| other debt instruments issued by the public-facilities | 17 |
| corporation in connection with the development of the municipal | 18 |
| convention hall, the legal title to the municipal convention | 19 |
| hall shall be transferred to the municipality without any | 20 |
| further consideration by or on behalf of the municipality. | 21 |
| (65 ILCS 5/11-65-15 new) | 22 |
| Sec. 11-65-15. Exemption from use and occupation taxes. No | 23 |
| tax is imposed under the Use Tax Act, the Service Use Tax Act, | 24 |
| the Service Occupation Tax Act, or the Retailers' Occupation | 25 |
| Tax Act upon the use or sale of tangible personal property sold |
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| to a public-facilities corporation for purposes of | 2 |
| constructing or furnishing a municipal convention hall. | 3 |
| (65 ILCS 5/11-65-20 new) | 4 |
| Sec. 11-65-20. Exemptions from property taxation. All real | 5 |
| property and the municipal convention hall owned by the | 6 |
| public-facilities corporation is exempt from property | 7 |
| taxation. | 8 |
| (65 ILCS 5/11-65-25 new)
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| Sec. 11-65-25. Tax exemptions for existing | 10 |
| public-facilities corporations. If, before the effective date | 11 |
| of this amendatory Act of the 95th General Assembly, a | 12 |
| municipality has incorporated a public-facilities corporation | 13 |
| and the public-facilities corporation complies with the | 14 |
| requirements set forth in Section 11-65-10, then, for all | 15 |
| purposes: | 16 |
| (1) No tax is imposed under the Use Tax Act, the | 17 |
| Service Use Tax Act, the Service Occupation Tax Act, or the | 18 |
| Retailers' Occupation Tax Act upon the use or sale of | 19 |
| tangible personal property sold to a public-facilities | 20 |
| corporation for purposes of constructing or furnishing a | 21 |
| municipal convention hall; and | 22 |
| (2) all real property and the municipal convention hall | 23 |
| owned by the public-facilities corporation is exempt from | 24 |
| property taxation.
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| Section 99. Effective date. This Act takes effect upon | 2 |
| becoming law.
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