Full Text of SB1772 097th General Assembly
SB1772 97TH GENERAL ASSEMBLY |
| | 97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012 SB1772 Introduced 2/9/2011, by Sen. Edward D. Maloney SYNOPSIS AS INTRODUCED: |
| 35 ILCS 200/18-53 new | | 35 ILCS 200/18-185 | |
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Amends the Property Tax Code. Authorizes taxing districts to adopt a levy, without referendum approval, to recapture revenue lost by certain refunds. Exempts the recapture levy from the definition of "aggregate extension" in the Property Tax Extension Limitation Law. Allows a taxpayer who has received a refund to have a portion of the refund amount included in the extension of the district's recapture levy against his or her property abated. Effective immediately.
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| | FISCAL NOTE ACT MAY APPLY | | HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY |
| | A BILL FOR |
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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 adding | 5 | | Sections 18-53 and 18-185 as follows: | 6 | | (35 ILCS 200/18-53 new) | 7 | | Sec. 18-53. Recovery of revenue lost due to tax refunds. | 8 | | (a) When a taxing district is required to refund a portion | 9 | | of the property tax revenue distributed to that taxing district | 10 | | because of a decision of the Property Tax Appeal Board, an | 11 | | assessment or exemption decision of the Department of Revenue, | 12 | | a court order issued pursuant to an assessment valuation | 13 | | complaint under item (3) of subsection (b) of Section 23-15, or | 14 | | an administrative decision of a local assessing official | 15 | | reducing the assessed value of a property within the district, | 16 | | that taxing district may, without referendum, adopt a levy to | 17 | | recapture the revenue lost by the refund or refunds. The | 18 | | recapture levy must be identified as a separate item in the | 19 | | district's regular levy ordinance and it must not exceed an | 20 | | amount equal to the aggregate refunds paid by the district for | 21 | | the prior calendar year. At the district's option the recapture | 22 | | levy may be extended in successive annual installments, but the | 23 | | total of all installments shall not exceed the amount allowed |
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| 1 | | under this Section for a single levy. Within 45 days after a | 2 | | request by a taxing district, the county treasurer must certify | 3 | | the aggregate refunds paid by a taxing district for purposes of | 4 | | this Section. For purposes of the Property Tax Extension | 5 | | Limitation Law, the taxing district's aggregate extension base | 6 | | does not include the recapture levy authorized under this | 7 | | Section. | 8 | | (b) Whenever the county treasurer certifies aggregate | 9 | | refunds at the request of a taxing district under this Section, | 10 | | the treasurer shall keep records of the individual refunds | 11 | | included in the aggregate. All such information shall be | 12 | | provided to the county clerk. The county clerk shall keep a | 13 | | record of that information and of any recapture levy that may | 14 | | thereafter be extended, so that the amount of the extension may | 15 | | be distinguished from any other levies and extensions for that | 16 | | district. The county treasurer's and the county clerk's records | 17 | | under this Section are available to the public upon request. | 18 | | (c) Any taxpayer who has received a refund of taxes paid on | 19 | | his or her property that has been included in a recapture levy | 20 | | or levies by one or more taxing districts under this Section | 21 | | shall have the right to have a portion of the refund amount | 22 | | included in the extension of each district's recapture levy | 23 | | against his or her property abated to the extent that the | 24 | | refund amount included in each district's recapture levy | 25 | | exceeds $1,000. The abatement may be granted only upon | 26 | | application as provided in this Section, and submission of the |
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| 1 | | application shall not delay or otherwise affect the normal tax | 2 | | extension and billing process. For purposes of this Section, | 3 | | the "property" for which the recapture extension may be abated | 4 | | is defined as one or more parcels that were the subject of a | 5 | | consolidated refund. If the taxing district's recapture levy | 6 | | and extension was made in a lesser amount than the aggregate of | 7 | | all refunds certified by the treasurer for that district, each | 8 | | abatement shall reflect that same proportionate reduction. | 9 | | (d) A taxpayer seeking an abatement under this Section | 10 | | shall apply to the county treasurer after the issuance of the | 11 | | second installment tax bill including the amount sought to be | 12 | | abated, but no later than the due date under Section 23-10 for | 13 | | tax objection complaints regarding tax levies of the year for | 14 | | which the recapture levy was extended. The county treasurer may | 15 | | prescribe the form in which the application shall be made. The | 16 | | application shall include a copy of the decision or order which | 17 | | gave rise to the refund and must specify the abatement claimed. | 18 | | The treasurer, assisted if necessary by the county clerk, shall | 19 | | confirm (i) whether the refund identified in the application | 20 | | was included within the appropriate treasurer's certification | 21 | | of aggregate refunds and (ii) the percentage that the refund | 22 | | represents of the total recapture levy, and, upon such | 23 | | confirmation, the abatement must be allowed as provided in this | 24 | | Section. If the taxes abated have been paid they must be | 25 | | refunded. The treasurer shall determine whether to allow or | 26 | | deny the application and shall advise the applicant of the |
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| 1 | | determination within 90 days after its submission, and a | 2 | | failure to make an express determination within that time shall | 3 | | be deemed a denial. If the treasurer cannot determine whether | 4 | | the application should be allowed, or otherwise denies the | 5 | | application, any taxpayer who has paid the tax subject to the | 6 | | claimed abatement may petition the circuit court for a refund | 7 | | in the time and manner provided in Section 20-175. Any refund | 8 | | granted pursuant to an abatement may not be included in a | 9 | | recapture levy under this Section. | 10 | | (e) The county treasurer and county clerk shall mark their | 11 | | records to reflect that any taxes abated under this Section and | 12 | | any lien with respect to those taxes shall be null and void. | 13 | | (35 ILCS 200/18-185)
| 14 | | Sec. 18-185. Short title; definitions. This Division 5 may | 15 | | be cited as the
Property Tax Extension Limitation Law. As used | 16 | | in this Division 5:
| 17 | | "Consumer Price Index" means the Consumer Price Index for | 18 | | All Urban
Consumers for all items published by the United | 19 | | States Department of Labor.
| 20 | | "Extension limitation" means (a) the lesser of 5% or the | 21 | | percentage increase
in the Consumer Price Index during the | 22 | | 12-month calendar year preceding the
levy year or (b) the rate | 23 | | of increase approved by voters under Section 18-205.
| 24 | | "Affected county" means a county of 3,000,000 or more | 25 | | inhabitants or a
county contiguous to a county of 3,000,000 or |
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| 1 | | more inhabitants.
| 2 | | "Taxing district" has the same meaning provided in Section | 3 | | 1-150, except as
otherwise provided in this Section. For the | 4 | | 1991 through 1994 levy years only,
"taxing district" includes | 5 | | only each non-home rule taxing district having the
majority of | 6 | | its
1990 equalized assessed value within any county or counties | 7 | | contiguous to a
county with 3,000,000 or more inhabitants. | 8 | | Beginning with the 1995 levy
year, "taxing district" includes | 9 | | only each non-home rule taxing district
subject to this Law | 10 | | before the 1995 levy year and each non-home rule
taxing | 11 | | district not subject to this Law before the 1995 levy year | 12 | | having the
majority of its 1994 equalized assessed value in an | 13 | | affected county or
counties. Beginning with the levy year in
| 14 | | which this Law becomes applicable to a taxing district as
| 15 | | provided in Section 18-213, "taxing district" also includes | 16 | | those taxing
districts made subject to this Law as provided in | 17 | | Section 18-213.
| 18 | | "Aggregate extension" for taxing districts to which this | 19 | | Law applied before
the 1995 levy year means the annual | 20 | | corporate extension for the taxing
district and those special | 21 | | purpose extensions that are made annually for
the taxing | 22 | | district, excluding special purpose extensions: (a) made for | 23 | | the
taxing district to pay interest or principal on general | 24 | | obligation bonds
that were approved by referendum; (b) made for | 25 | | any taxing district to pay
interest or principal on general | 26 | | obligation bonds issued before October 1,
1991; (c) made for |
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| 1 | | any taxing district to pay interest or principal on bonds
| 2 | | issued to refund or continue to refund those bonds issued | 3 | | before October 1,
1991; (d)
made for any taxing district to pay | 4 | | interest or principal on bonds
issued to refund or continue to | 5 | | refund bonds issued after October 1, 1991 that
were approved by | 6 | | referendum; (e)
made for any taxing district to pay interest
or | 7 | | principal on revenue bonds issued before October 1, 1991 for | 8 | | payment of
which a property tax levy or the full faith and | 9 | | credit of the unit of local
government is pledged; however, a | 10 | | tax for the payment of interest or principal
on those bonds | 11 | | shall be made only after the governing body of the unit of | 12 | | local
government finds that all other sources for payment are | 13 | | insufficient to make
those payments; (f) made for payments | 14 | | under a building commission lease when
the lease payments are | 15 | | for the retirement of bonds issued by the commission
before | 16 | | October 1, 1991, to pay for the building project; (g) made for | 17 | | payments
due under installment contracts entered into before | 18 | | October 1, 1991;
(h) made for payments of principal and | 19 | | interest on bonds issued under the
Metropolitan Water | 20 | | Reclamation District Act to finance construction projects
| 21 | | initiated before October 1, 1991; (i) made for payments of | 22 | | principal and
interest on limited bonds, as defined in Section | 23 | | 3 of the Local Government Debt
Reform Act, in an amount not to | 24 | | exceed the debt service extension base less
the amount in items | 25 | | (b), (c), (e), and (h) of this definition for
non-referendum | 26 | | obligations, except obligations initially issued pursuant to
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| 1 | | referendum; (j) made for payments of principal and interest on | 2 | | bonds
issued under Section 15 of the Local Government Debt | 3 | | Reform Act; (k)
made
by a school district that participates in | 4 | | the Special Education District of
Lake County, created by | 5 | | special education joint agreement under Section
10-22.31 of the | 6 | | School Code, for payment of the school district's share of the
| 7 | | amounts required to be contributed by the Special Education | 8 | | District of Lake
County to the Illinois Municipal Retirement | 9 | | Fund under Article 7 of the
Illinois Pension Code; the amount | 10 | | of any extension under this item (k) shall be
certified by the | 11 | | school district to the county clerk; (l) made to fund
expenses | 12 | | of providing joint recreational programs for the handicapped | 13 | | under
Section 5-8 of
the
Park District Code or Section 11-95-14 | 14 | | of the Illinois Municipal Code; (m) made for temporary | 15 | | relocation loan repayment purposes pursuant to Sections 2-3.77 | 16 | | and 17-2.2d of the School Code; (n) made for payment of | 17 | | principal and interest on any bonds issued under the authority | 18 | | of Section 17-2.2d of the School Code; and (o) made for | 19 | | contributions to a firefighter's pension fund created under | 20 | | Article 4 of the Illinois Pension Code, to the extent of the | 21 | | amount certified under item (5) of Section 4-134 of the | 22 | | Illinois Pension Code ; and (p) made as a recapture levy under | 23 | | Section 18-53 of the Property Tax Code .
| 24 | | "Aggregate extension" for the taxing districts to which | 25 | | this Law did not
apply before the 1995 levy year (except taxing | 26 | | districts subject to this Law
in
accordance with Section |
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| 1 | | 18-213) means the annual corporate extension for the
taxing | 2 | | district and those special purpose extensions that are made | 3 | | annually for
the taxing district, excluding special purpose | 4 | | extensions: (a) made for the
taxing district to pay interest or | 5 | | principal on general obligation bonds that
were approved by | 6 | | referendum; (b) made for any taxing district to pay interest
or | 7 | | principal on general obligation bonds issued before March 1, | 8 | | 1995; (c) made
for any taxing district to pay interest or | 9 | | principal on bonds issued to refund
or continue to refund those | 10 | | bonds issued before March 1, 1995; (d) made for any
taxing | 11 | | district to pay interest or principal on bonds issued to refund | 12 | | or
continue to refund bonds issued after March 1, 1995 that | 13 | | were approved by
referendum; (e) made for any taxing district | 14 | | to pay interest or principal on
revenue bonds issued before | 15 | | March 1, 1995 for payment of which a property tax
levy or the | 16 | | full faith and credit of the unit of local government is | 17 | | pledged;
however, a tax for the payment of interest or | 18 | | principal on those bonds shall be
made only after the governing | 19 | | body of the unit of local government finds that
all other | 20 | | sources for payment are insufficient to make those payments; | 21 | | (f) made
for payments under a building commission lease when | 22 | | the lease payments are for
the retirement of bonds issued by | 23 | | the commission before March 1, 1995 to
pay for the building | 24 | | project; (g) made for payments due under installment
contracts | 25 | | entered into before March 1, 1995; (h) made for payments of
| 26 | | principal and interest on bonds issued under the Metropolitan |
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| 1 | | Water Reclamation
District Act to finance construction | 2 | | projects initiated before October 1,
1991; (h-4) made for | 3 | | stormwater management purposes by the Metropolitan Water | 4 | | Reclamation District of Greater Chicago under Section 12 of the | 5 | | Metropolitan Water Reclamation District Act; (i) made for | 6 | | payments of principal and interest on limited bonds,
as defined | 7 | | in Section 3 of the Local Government Debt Reform Act, in an | 8 | | amount
not to exceed the debt service extension base less the | 9 | | amount in items (b),
(c), and (e) of this definition for | 10 | | non-referendum obligations, except
obligations initially | 11 | | issued pursuant to referendum and bonds described in
subsection | 12 | | (h) of this definition; (j) made for payments of
principal and | 13 | | interest on bonds issued under Section 15 of the Local | 14 | | Government
Debt Reform Act; (k) made for payments of principal | 15 | | and interest on bonds
authorized by Public Act 88-503 and | 16 | | issued under Section 20a of the Chicago
Park District Act for | 17 | | aquarium or
museum projects; (l) made for payments of principal | 18 | | and interest on
bonds
authorized by Public Act 87-1191 or | 19 | | 93-601 and (i) issued pursuant to Section 21.2 of the Cook | 20 | | County Forest
Preserve District Act, (ii) issued under Section | 21 | | 42 of the Cook County
Forest Preserve District Act for | 22 | | zoological park projects, or (iii) issued
under Section 44.1 of | 23 | | the Cook County Forest Preserve District Act for
botanical | 24 | | gardens projects; (m) made
pursuant
to Section 34-53.5 of the | 25 | | School Code, whether levied annually or not;
(n) made to fund | 26 | | expenses of providing joint recreational programs for the
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| 1 | | handicapped under Section 5-8 of the Park
District Code or | 2 | | Section 11-95-14 of the Illinois Municipal Code;
(o) made by | 3 | | the
Chicago Park
District for recreational programs for the | 4 | | handicapped under subsection (c) of
Section
7.06 of the Chicago | 5 | | Park District Act; (p) made for contributions to a | 6 | | firefighter's pension fund created under Article 4 of the | 7 | | Illinois Pension Code, to the extent of the amount certified | 8 | | under item (5) of Section 4-134 of the Illinois Pension Code; | 9 | | and (q) made by Ford Heights School District 169 under Section | 10 | | 17-9.02 of the School Code ; and (r) made as a recapture levy | 11 | | under Section 18-53 of the Property Tax Code .
| 12 | | "Aggregate extension" for all taxing districts to which | 13 | | this Law applies in
accordance with Section 18-213, except for | 14 | | those taxing districts subject to
paragraph (2) of subsection | 15 | | (e) of Section 18-213, means the annual corporate
extension for | 16 | | the
taxing district and those special purpose extensions that | 17 | | are made annually for
the taxing district, excluding special | 18 | | purpose extensions: (a) made for the
taxing district to pay | 19 | | interest or principal on general obligation bonds that
were | 20 | | approved by referendum; (b) made for any taxing district to pay | 21 | | interest
or principal on general obligation bonds issued before | 22 | | the date on which the
referendum making this
Law applicable to | 23 | | the taxing district is held; (c) made
for any taxing district | 24 | | to pay interest or principal on bonds issued to refund
or | 25 | | continue to refund those bonds issued before the date on which | 26 | | the
referendum making this Law
applicable to the taxing |
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| 1 | | district is held;
(d) made for any
taxing district to pay | 2 | | interest or principal on bonds issued to refund or
continue to | 3 | | refund bonds issued after the date on which the referendum | 4 | | making
this Law
applicable to the taxing district is held if | 5 | | the bonds were approved by
referendum after the date on which | 6 | | the referendum making this Law
applicable to the taxing | 7 | | district is held; (e) made for any
taxing district to pay | 8 | | interest or principal on
revenue bonds issued before the date | 9 | | on which the referendum making this Law
applicable to the
| 10 | | taxing district is held for payment of which a property tax
| 11 | | levy or the full faith and credit of the unit of local | 12 | | government is pledged;
however, a tax for the payment of | 13 | | interest or principal on those bonds shall be
made only after | 14 | | the governing body of the unit of local government finds that
| 15 | | all other sources for payment are insufficient to make those | 16 | | payments; (f) made
for payments under a building commission | 17 | | lease when the lease payments are for
the retirement of bonds | 18 | | issued by the commission before the date on which the
| 19 | | referendum making this
Law applicable to the taxing district is | 20 | | held to
pay for the building project; (g) made for payments due | 21 | | under installment
contracts entered into before the date on | 22 | | which the referendum making this Law
applicable to
the taxing | 23 | | district is held;
(h) made for payments
of principal and | 24 | | interest on limited bonds,
as defined in Section 3 of the Local | 25 | | Government Debt Reform Act, in an amount
not to exceed the debt | 26 | | service extension base less the amount in items (b),
(c), and |
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| 1 | | (e) of this definition for non-referendum obligations, except
| 2 | | obligations initially issued pursuant to referendum; (i) made | 3 | | for payments
of
principal and interest on bonds issued under | 4 | | Section 15 of the Local Government
Debt Reform Act;
(j)
made | 5 | | for a qualified airport authority to pay interest or principal | 6 | | on
general obligation bonds issued for the purpose of paying | 7 | | obligations due
under, or financing airport facilities | 8 | | required to be acquired, constructed,
installed or equipped | 9 | | pursuant to, contracts entered into before March
1, 1996 (but | 10 | | not including any amendments to such a contract taking effect | 11 | | on
or after that date); (k) made to fund expenses of providing | 12 | | joint
recreational programs for the handicapped under Section | 13 | | 5-8 of
the
Park District Code or Section 11-95-14 of the | 14 | | Illinois Municipal Code; (l) made for contributions to a | 15 | | firefighter's pension fund created under Article 4 of the | 16 | | Illinois Pension Code, to the extent of the amount certified | 17 | | under item (5) of Section 4-134 of the Illinois Pension Code; | 18 | | and (m) made for the taxing district to pay interest or | 19 | | principal on general obligation bonds issued pursuant to | 20 | | Section 19-3.10 of the School Code ; and (n) made as a recapture | 21 | | levy under Section 18-53 of the Property Tax Code .
| 22 | | "Aggregate extension" for all taxing districts to which | 23 | | this Law applies in
accordance with paragraph (2) of subsection | 24 | | (e) of Section 18-213 means the
annual corporate extension for | 25 | | the
taxing district and those special purpose extensions that | 26 | | are made annually for
the taxing district, excluding special |
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| 1 | | purpose extensions: (a) made for the
taxing district to pay | 2 | | interest or principal on general obligation bonds that
were | 3 | | approved by referendum; (b) made for any taxing district to pay | 4 | | interest
or principal on general obligation bonds issued before | 5 | | the effective date of
this amendatory Act of 1997;
(c) made
for | 6 | | any taxing district to pay interest or principal on bonds | 7 | | issued to refund
or continue to refund those bonds issued | 8 | | before the effective date
of this amendatory Act of 1997;
(d) | 9 | | made for any
taxing district to pay interest or principal on | 10 | | bonds issued to refund or
continue to refund bonds issued after | 11 | | the effective date of this amendatory Act
of 1997 if the bonds | 12 | | were approved by referendum after the effective date of
this | 13 | | amendatory Act of 1997;
(e) made for any
taxing district to pay | 14 | | interest or principal on
revenue bonds issued before the | 15 | | effective date of this amendatory Act of 1997
for payment of | 16 | | which a property tax
levy or the full faith and credit of the | 17 | | unit of local government is pledged;
however, a tax for the | 18 | | payment of interest or principal on those bonds shall be
made | 19 | | only after the governing body of the unit of local government | 20 | | finds that
all other sources for payment are insufficient to | 21 | | make those payments; (f) made
for payments under a building | 22 | | commission lease when the lease payments are for
the retirement | 23 | | of bonds issued by the commission before the effective date
of | 24 | | this amendatory Act of 1997
to
pay for the building project; | 25 | | (g) made for payments due under installment
contracts entered | 26 | | into before the effective date of this amendatory Act of
1997;
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| 1 | | (h) made for payments
of principal and interest on limited | 2 | | bonds,
as defined in Section 3 of the Local Government Debt | 3 | | Reform Act, in an amount
not to exceed the debt service | 4 | | extension base less the amount in items (b),
(c), and (e) of | 5 | | this definition for non-referendum obligations, except
| 6 | | obligations initially issued pursuant to referendum; (i) made | 7 | | for payments
of
principal and interest on bonds issued under | 8 | | Section 15 of the Local Government
Debt Reform Act;
(j)
made | 9 | | for a qualified airport authority to pay interest or principal | 10 | | on
general obligation bonds issued for the purpose of paying | 11 | | obligations due
under, or financing airport facilities | 12 | | required to be acquired, constructed,
installed or equipped | 13 | | pursuant to, contracts entered into before March
1, 1996 (but | 14 | | not including any amendments to such a contract taking effect | 15 | | on
or after that date); (k) made to fund expenses of providing | 16 | | joint
recreational programs for the handicapped under Section | 17 | | 5-8 of
the
Park District Code or Section 11-95-14 of the | 18 | | Illinois Municipal Code; and (l) made for contributions to a | 19 | | firefighter's pension fund created under Article 4 of the | 20 | | Illinois Pension Code, to the extent of the amount certified | 21 | | under item (5) of Section 4-134 of the Illinois Pension Code ; | 22 | | and (m) made as a recapture levy under 18-53 of the Property | 23 | | Tax Code .
| 24 | | "Debt service extension base" means an amount equal to that | 25 | | portion of the
extension for a taxing district for the 1994 | 26 | | levy year, or for those taxing
districts subject to this Law in |
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| 1 | | accordance with Section 18-213, except for
those subject to | 2 | | paragraph (2) of subsection (e) of Section 18-213, for the
levy
| 3 | | year in which the referendum making this Law applicable to the | 4 | | taxing district
is held, or for those taxing districts subject | 5 | | to this Law in accordance with
paragraph (2) of subsection (e) | 6 | | of Section 18-213 for the 1996 levy year,
constituting an
| 7 | | extension for payment of principal and interest on bonds issued | 8 | | by the taxing
district without referendum, but not including | 9 | | excluded non-referendum bonds. For park districts (i) that were | 10 | | first
subject to this Law in 1991 or 1995 and (ii) whose | 11 | | extension for the 1994 levy
year for the payment of principal | 12 | | and interest on bonds issued by the park
district without | 13 | | referendum (but not including excluded non-referendum bonds)
| 14 | | was less than 51% of the amount for the 1991 levy year | 15 | | constituting an
extension for payment of principal and interest | 16 | | on bonds issued by the park
district without referendum (but | 17 | | not including excluded non-referendum bonds),
"debt service | 18 | | extension base" means an amount equal to that portion of the
| 19 | | extension for the 1991 levy year constituting an extension for | 20 | | payment of
principal and interest on bonds issued by the park | 21 | | district without referendum
(but not including excluded | 22 | | non-referendum bonds). A debt service extension base | 23 | | established or increased at any time pursuant to any provision | 24 | | of this Law, except Section 18-212, shall be increased each | 25 | | year commencing with the later of (i) the 2009 levy year or | 26 | | (ii) the first levy year in which this Law becomes applicable |
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| 1 | | to the taxing district, by the lesser of 5% or the percentage | 2 | | increase in the Consumer Price Index during the 12-month | 3 | | calendar year preceding the levy year. The debt service | 4 | | extension
base may be established or increased as provided | 5 | | under Section 18-212.
"Excluded non-referendum bonds" means | 6 | | (i) bonds authorized by Public
Act 88-503 and issued under | 7 | | Section 20a of the Chicago Park District Act for
aquarium and | 8 | | museum projects; (ii) bonds issued under Section 15 of the
| 9 | | Local Government Debt Reform Act; or (iii) refunding | 10 | | obligations issued
to refund or to continue to refund | 11 | | obligations initially issued pursuant to
referendum.
| 12 | | "Special purpose extensions" include, but are not limited | 13 | | to, extensions
for levies made on an annual basis for | 14 | | unemployment and workers'
compensation, self-insurance, | 15 | | contributions to pension plans, and extensions
made pursuant to | 16 | | Section 6-601 of the Illinois Highway Code for a road
| 17 | | district's permanent road fund whether levied annually or not. | 18 | | The
extension for a special service area is not included in the
| 19 | | aggregate extension.
| 20 | | "Aggregate extension base" means the taxing district's | 21 | | last preceding
aggregate extension as adjusted under Sections | 22 | | 18-135, 18-215,
and 18-230.
An adjustment under Section 18-135 | 23 | | shall be made for the 2007 levy year and all subsequent levy | 24 | | years whenever one or more counties within which a taxing | 25 | | district is located (i) used estimated valuations or rates when | 26 | | extending taxes in the taxing district for the last preceding |
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| 1 | | levy year that resulted in the over or under extension of | 2 | | taxes, or (ii) increased or decreased the tax extension for the | 3 | | last preceding levy year as required by Section 18-135(c). | 4 | | Whenever an adjustment is required under Section 18-135, the | 5 | | aggregate extension base of the taxing district shall be equal | 6 | | to the amount that the aggregate extension of the taxing | 7 | | district would have been for the last preceding levy year if | 8 | | either or both (i) actual, rather than estimated, valuations or | 9 | | rates had been used to calculate the extension of taxes for the | 10 | | last levy year, or (ii) the tax extension for the last | 11 | | preceding levy year had not been adjusted as required by | 12 | | subsection (c) of Section 18-135.
| 13 | | "Levy year" has the same meaning as "year" under Section
| 14 | | 1-155.
| 15 | | "New property" means (i) the assessed value, after final | 16 | | board of review or
board of appeals action, of new improvements | 17 | | or additions to existing
improvements on any parcel of real | 18 | | property that increase the assessed value of
that real property | 19 | | during the levy year multiplied by the equalization factor
| 20 | | issued by the Department under Section 17-30, (ii) the assessed | 21 | | value, after
final board of review or board of appeals action, | 22 | | of real property not exempt
from real estate taxation, which | 23 | | real property was exempt from real estate
taxation for any | 24 | | portion of the immediately preceding levy year, multiplied by
| 25 | | the equalization factor issued by the Department under Section | 26 | | 17-30, including the assessed value, upon final stabilization |
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| 1 | | of occupancy after new construction is complete, of any real | 2 | | property located within the boundaries of an otherwise or | 3 | | previously exempt military reservation that is intended for | 4 | | residential use and owned by or leased to a private corporation | 5 | | or other entity, and
(iii) in counties that classify in | 6 | | accordance with Section 4 of Article
IX of the
Illinois | 7 | | Constitution, an incentive property's additional assessed | 8 | | value
resulting from a
scheduled increase in the level of | 9 | | assessment as applied to the first year
final board of
review | 10 | | market value.
In addition, the county clerk in a county | 11 | | containing a population of
3,000,000 or more shall include in | 12 | | the 1997
recovered tax increment value for any school district, | 13 | | any recovered tax
increment value that was applicable to the | 14 | | 1995 tax year calculations.
| 15 | | "Qualified airport authority" means an airport authority | 16 | | organized under
the Airport Authorities Act and located in a | 17 | | county bordering on the State of
Wisconsin and having a | 18 | | population in excess of 200,000 and not greater than
500,000.
| 19 | | "Recovered tax increment value" means, except as otherwise | 20 | | provided in this
paragraph, the amount of the current year's | 21 | | equalized assessed value, in the
first year after a | 22 | | municipality terminates
the designation of an area as a | 23 | | redevelopment project area previously
established under the | 24 | | Tax Increment Allocation Development Act in the Illinois
| 25 | | Municipal Code, previously established under the Industrial | 26 | | Jobs Recovery Law
in the Illinois Municipal Code, previously |
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| 1 | | established under the Economic Development Project Area Tax | 2 | | Increment Act of 1995, or previously established under the | 3 | | Economic
Development Area Tax Increment Allocation Act, of each | 4 | | taxable lot, block,
tract, or parcel of real property in the | 5 | | redevelopment project area over and
above the initial equalized | 6 | | assessed value of each property in the
redevelopment project | 7 | | area.
For the taxes which are extended for the 1997 levy year, | 8 | | the recovered tax
increment value for a non-home rule taxing | 9 | | district that first became subject
to this Law for the 1995 | 10 | | levy year because a majority of its 1994 equalized
assessed | 11 | | value was in an affected county or counties shall be increased | 12 | | if a
municipality terminated the designation of an area in 1993 | 13 | | as a redevelopment
project area previously established under | 14 | | the Tax Increment Allocation
Development Act in the Illinois | 15 | | Municipal Code, previously established under
the Industrial | 16 | | Jobs Recovery Law in the Illinois Municipal Code, or previously
| 17 | | established under the Economic Development Area Tax Increment | 18 | | Allocation Act,
by an amount equal to the 1994 equalized | 19 | | assessed value of each taxable lot,
block, tract, or parcel of | 20 | | real property in the redevelopment project area over
and above | 21 | | the initial equalized assessed value of each property in the
| 22 | | redevelopment project area.
In the first year after a | 23 | | municipality
removes a taxable lot, block, tract, or parcel of | 24 | | real property from a
redevelopment project area established | 25 | | under the Tax Increment Allocation
Development Act in the | 26 | | Illinois
Municipal Code, the Industrial Jobs Recovery Law
in |
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| 1 | | the Illinois Municipal Code, or the Economic
Development Area | 2 | | Tax Increment Allocation Act, "recovered tax increment value"
| 3 | | means the amount of the current year's equalized assessed value | 4 | | of each taxable
lot, block, tract, or parcel of real property | 5 | | removed from the redevelopment
project area over and above the | 6 | | initial equalized assessed value of that real
property before | 7 | | removal from the redevelopment project area.
| 8 | | Except as otherwise provided in this Section, "limiting | 9 | | rate" means a
fraction the numerator of which is the last
| 10 | | preceding aggregate extension base times an amount equal to one | 11 | | plus the
extension limitation defined in this Section and the | 12 | | denominator of which
is the current year's equalized assessed | 13 | | value of all real property in the
territory under the | 14 | | jurisdiction of the taxing district during the prior
levy year. | 15 | | For those taxing districts that reduced their aggregate
| 16 | | extension for the last preceding levy year, the highest | 17 | | aggregate extension
in any of the last 3 preceding levy years | 18 | | shall be used for the purpose of
computing the limiting rate. | 19 | | The denominator shall not include new
property or the recovered | 20 | | tax increment
value.
If a new rate, a rate decrease, or a | 21 | | limiting rate increase has been approved at an election held | 22 | | after March 21, 2006, then (i) the otherwise applicable | 23 | | limiting rate shall be increased by the amount of the new rate | 24 | | or shall be reduced by the amount of the rate decrease, as the | 25 | | case may be, or (ii) in the case of a limiting rate increase, | 26 | | the limiting rate shall be equal to the rate set forth
in the |
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| 1 | | proposition approved by the voters for each of the years | 2 | | specified in the proposition, after
which the limiting rate of | 3 | | the taxing district shall be calculated as otherwise provided.
| 4 | | (Source: P.A. 95-90, eff. 1-1-08; 95-331, eff. 8-21-07; 95-404, | 5 | | eff. 1-1-08; 95-876, eff. 8-21-08; 96-501, eff. 8-14-09; | 6 | | 96-517, eff. 8-14-09; 96-1000, eff. 7-2-10; 96-1202, eff. | 7 | | 7-22-10.)
| 8 | | Section 99. Effective date. This Act takes effect upon | 9 | | becoming law.
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