Full Text of HB3082 100th General Assembly
HB3082 100TH GENERAL ASSEMBLY |
| | 100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018 HB3082 Introduced , by Rep. Fred Crespo SYNOPSIS AS INTRODUCED: |
| 35 ILCS 200/18-185 | | 35 ILCS 200/18-205 | | 30 ILCS 805/8.41 new | |
|
Amends the Property Tax Extension Limitation Law in the Property Tax Code. Provides that, if a school district has reserves of 50% or more of its operating budget for a levy year, then, for the next levy year, for that school district, "extension limitation" means 0% or the rate of increase approved by the voters. Effective immediately.
|
| |
| | FISCAL NOTE ACT MAY APPLY | | HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY |
| | A BILL FOR |
|
| | | HB3082 | | LRB100 10828 HLH 21061 b |
|
| 1 | | AN ACT concerning revenue.
| 2 | | Be it enacted by the People of the State of Illinois,
| 3 | | represented in the General Assembly:
| 4 | | Section 5. The Property Tax Code is amended by changing | 5 | | Sections 18-185 and 18-205 as follows: | 6 | | (35 ILCS 200/18-185)
| 7 | | (Text of Section before amendment by P.A. 99-521 ) | 8 | | Sec. 18-185. Short title; definitions. This Division 5 may | 9 | | be cited as the
Property Tax Extension Limitation Law. As used | 10 | | in this Division 5:
| 11 | | "Consumer Price Index" means the Consumer Price Index for | 12 | | All Urban
Consumers for all items published by the United | 13 | | States Department of Labor.
| 14 | | "Extension limitation" means , except as otherwise provided | 15 | | in this Section, (a) the lesser of 5% or the percentage | 16 | | increase
in the Consumer Price Index during the 12-month | 17 | | calendar year preceding the
levy year or (b) the rate of | 18 | | increase approved by voters under Section 18-205.
| 19 | | If, at a point in time designated by the State Board of | 20 | | Education by rule, any school district that is subject to this | 21 | | Law has reserves of 50% or more of its operating budget for a | 22 | | levy year, then, for that school district, for the next levy | 23 | | year, "extension limitation" means 0% or the rate of increase |
| | | HB3082 | - 2 - | LRB100 10828 HLH 21061 b |
|
| 1 | | approved by the voters under Section 18-205. | 2 | | "Affected county" means a county of 3,000,000 or more | 3 | | inhabitants or a
county contiguous to a county of 3,000,000 or | 4 | | more inhabitants.
| 5 | | "Taxing district" has the same meaning provided in Section | 6 | | 1-150, except as
otherwise provided in this Section. For the | 7 | | 1991 through 1994 levy years only,
"taxing district" includes | 8 | | only each non-home rule taxing district having the
majority of | 9 | | its
1990 equalized assessed value within any county or counties | 10 | | contiguous to a
county with 3,000,000 or more inhabitants. | 11 | | Beginning with the 1995 levy
year, "taxing district" includes | 12 | | only each non-home rule taxing district
subject to this Law | 13 | | before the 1995 levy year and each non-home rule
taxing | 14 | | district not subject to this Law before the 1995 levy year | 15 | | having the
majority of its 1994 equalized assessed value in an | 16 | | affected county or
counties. Beginning with the levy year in
| 17 | | which this Law becomes applicable to a taxing district as
| 18 | | provided in Section 18-213, "taxing district" also includes | 19 | | those taxing
districts made subject to this Law as provided in | 20 | | Section 18-213.
Beginning in levy year 2017, "taxing district" | 21 | | also means any school district that had reserves of 50% or more | 22 | | of its operating budget at the point in time designated by the | 23 | | State Board of Education by rule.
| 24 | | "Aggregate extension" for taxing districts to which this | 25 | | Law applied before
the 1995 levy year means the annual | 26 | | corporate extension for the taxing
district and those special |
| | | HB3082 | - 3 - | LRB100 10828 HLH 21061 b |
|
| 1 | | purpose extensions that are made annually for
the taxing | 2 | | district, excluding special purpose extensions: (a) made for | 3 | | the
taxing district to pay interest or principal on general | 4 | | obligation bonds
that were approved by referendum; (b) made for | 5 | | any taxing district to pay
interest or principal on general | 6 | | obligation bonds issued before October 1,
1991; (c) made for | 7 | | any taxing district to pay interest or principal on bonds
| 8 | | issued to refund or continue to refund those bonds issued | 9 | | before October 1,
1991; (d)
made for any taxing district to pay | 10 | | interest or principal on bonds
issued to refund or continue to | 11 | | refund bonds issued after October 1, 1991 that
were approved by | 12 | | referendum; (e)
made for any taxing district to pay interest
or | 13 | | principal on revenue bonds issued before October 1, 1991 for | 14 | | payment of
which a property tax levy or the full faith and | 15 | | credit of the unit of local
government is pledged; however, a | 16 | | tax for the payment of interest or principal
on those bonds | 17 | | shall be made only after the governing body of the unit of | 18 | | local
government finds that all other sources for payment are | 19 | | insufficient to make
those payments; (f) made for payments | 20 | | under a building commission lease when
the lease payments are | 21 | | for the retirement of bonds issued by the commission
before | 22 | | October 1, 1991, to pay for the building project; (g) made for | 23 | | payments
due under installment contracts entered into before | 24 | | October 1, 1991;
(h) made for payments of principal and | 25 | | interest on bonds issued under the
Metropolitan Water | 26 | | Reclamation District Act to finance construction projects
|
| | | HB3082 | - 4 - | LRB100 10828 HLH 21061 b |
|
| 1 | | initiated before October 1, 1991; (i) made for payments of | 2 | | principal and
interest on limited bonds, as defined in Section | 3 | | 3 of the Local Government Debt
Reform Act, in an amount not to | 4 | | exceed the debt service extension base less
the amount in items | 5 | | (b), (c), (e), and (h) of this definition for
non-referendum | 6 | | obligations, except obligations initially issued pursuant to
| 7 | | referendum; (j) made for payments of principal and interest on | 8 | | bonds
issued under Section 15 of the Local Government Debt | 9 | | Reform Act; (k)
made
by a school district that participates in | 10 | | the Special Education District of
Lake County, created by | 11 | | special education joint agreement under Section
10-22.31 of the | 12 | | School Code, for payment of the school district's share of the
| 13 | | amounts required to be contributed by the Special Education | 14 | | District of Lake
County to the Illinois Municipal Retirement | 15 | | Fund under Article 7 of the
Illinois Pension Code; the amount | 16 | | of any extension under this item (k) shall be
certified by the | 17 | | school district to the county clerk; (l) made to fund
expenses | 18 | | of providing joint recreational programs for persons with | 19 | | disabilities under
Section 5-8 of
the
Park District Code or | 20 | | Section 11-95-14 of the Illinois Municipal Code; (m) made for | 21 | | temporary relocation loan repayment purposes pursuant to | 22 | | Sections 2-3.77 and 17-2.2d of the School Code; (n) made for | 23 | | payment of principal and interest on any bonds issued under the | 24 | | authority of Section 17-2.2d of the School Code; (o) made for | 25 | | contributions to a firefighter's pension fund created under | 26 | | Article 4 of the Illinois Pension Code, to the extent of the |
| | | HB3082 | - 5 - | LRB100 10828 HLH 21061 b |
|
| 1 | | amount certified under item (5) of Section 4-134 of the | 2 | | Illinois Pension Code; and (p) made for road purposes in the | 3 | | first year after a township assumes the rights, powers, duties, | 4 | | assets, property, liabilities, obligations, and
| 5 | | responsibilities of a road district abolished under the | 6 | | provisions of Section 6-133 of the Illinois Highway Code.
| 7 | | "Aggregate extension" for the taxing districts to which | 8 | | this Law did not
apply before the 1995 levy year (except taxing | 9 | | districts subject to this Law
in
accordance with Section 18-213 | 10 | | or this amendatory Act of the 100th General Assembly ) means the | 11 | | annual corporate extension for the
taxing district and those | 12 | | special purpose extensions that are made annually for
the | 13 | | taxing district, excluding special purpose extensions: (a) | 14 | | made for the
taxing district to pay interest or principal on | 15 | | general obligation bonds that
were approved by referendum; (b) | 16 | | made for any taxing district to pay interest
or principal on | 17 | | general obligation bonds issued before March 1, 1995; (c) made
| 18 | | for any taxing district to pay interest or principal on bonds | 19 | | issued to refund
or continue to refund those bonds issued | 20 | | before March 1, 1995; (d) made for any
taxing district to pay | 21 | | interest or principal on bonds issued to refund or
continue to | 22 | | refund bonds issued after March 1, 1995 that were approved by
| 23 | | referendum; (e) made for any taxing district to pay interest or | 24 | | principal on
revenue bonds issued before March 1, 1995 for | 25 | | payment of which a property tax
levy or the full faith and | 26 | | credit of the unit of local government is pledged;
however, a |
| | | HB3082 | - 6 - | LRB100 10828 HLH 21061 b |
|
| 1 | | tax for the payment of interest or principal on those bonds | 2 | | shall be
made only after the governing body of the unit of | 3 | | local government finds that
all other sources for payment are | 4 | | insufficient to make those payments; (f) made
for payments | 5 | | under a building commission lease when the lease payments are | 6 | | for
the retirement of bonds issued by the commission before | 7 | | March 1, 1995 to
pay for the building project; (g) made for | 8 | | payments due under installment
contracts entered into before | 9 | | March 1, 1995; (h) made for payments of
principal and interest | 10 | | on bonds issued under the Metropolitan Water Reclamation
| 11 | | District Act to finance construction projects initiated before | 12 | | October 1,
1991; (h-4) made for stormwater management purposes | 13 | | by the Metropolitan Water Reclamation District of Greater | 14 | | Chicago under Section 12 of the Metropolitan Water Reclamation | 15 | | District Act; (i) made for payments of principal and interest | 16 | | on limited bonds,
as defined in Section 3 of the Local | 17 | | Government Debt Reform Act, in an amount
not to exceed the debt | 18 | | service extension base less the amount in items (b),
(c), and | 19 | | (e) of this definition for non-referendum obligations, except
| 20 | | obligations initially issued pursuant to referendum and bonds | 21 | | described in
subsection (h) of this definition; (j) made for | 22 | | payments of
principal and interest on bonds issued under | 23 | | Section 15 of the Local Government
Debt Reform Act; (k) made | 24 | | for payments of principal and interest on bonds
authorized by | 25 | | Public Act 88-503 and issued under Section 20a of the Chicago
| 26 | | Park District Act for aquarium or
museum projects; (l) made for |
| | | HB3082 | - 7 - | LRB100 10828 HLH 21061 b |
|
| 1 | | payments of principal and interest on
bonds
authorized by | 2 | | Public Act 87-1191 or 93-601 and (i) issued pursuant to Section | 3 | | 21.2 of the Cook County Forest
Preserve District Act, (ii) | 4 | | issued under Section 42 of the Cook County
Forest Preserve | 5 | | District Act for zoological park projects, or (iii) issued
| 6 | | under Section 44.1 of the Cook County Forest Preserve District | 7 | | Act for
botanical gardens projects; (m) made
pursuant
to | 8 | | Section 34-53.5 of the School Code, whether levied annually or | 9 | | not;
(n) made to fund expenses of providing joint recreational | 10 | | programs for persons with disabilities under Section 5-8 of the | 11 | | Park
District Code or Section 11-95-14 of the Illinois | 12 | | Municipal Code;
(o) made by the
Chicago Park
District for | 13 | | recreational programs for persons with disabilities under | 14 | | subsection (c) of
Section
7.06 of the Chicago Park District | 15 | | Act; (p) made for contributions to a firefighter's pension fund | 16 | | created under Article 4 of the Illinois Pension Code, to the | 17 | | extent of the amount certified under item (5) of Section 4-134 | 18 | | of the Illinois Pension Code; and (q) made by Ford Heights | 19 | | School District 169 under Section 17-9.02 of the School Code.
| 20 | | "Aggregate extension" for all taxing districts to which | 21 | | this Law applies in
accordance with Section 18-213, except for | 22 | | those taxing districts subject to
paragraph (2) of subsection | 23 | | (e) of Section 18-213, means the annual corporate
extension for | 24 | | the
taxing district and those special purpose extensions that | 25 | | are made annually for
the taxing district, excluding special | 26 | | purpose extensions: (a) made for the
taxing district to pay |
| | | HB3082 | - 8 - | LRB100 10828 HLH 21061 b |
|
| 1 | | interest or principal on general obligation bonds that
were | 2 | | approved by referendum; (b) made for any taxing district to pay | 3 | | interest
or principal on general obligation bonds issued before | 4 | | the date on which the
referendum making this
Law applicable to | 5 | | the taxing district is held; (c) made
for any taxing district | 6 | | to pay interest or principal on bonds issued to refund
or | 7 | | continue to refund those bonds issued before the date on which | 8 | | the
referendum making this Law
applicable to the taxing | 9 | | district is held;
(d) made for any
taxing district to pay | 10 | | interest or principal on bonds issued to refund or
continue to | 11 | | refund bonds issued after the date on which the referendum | 12 | | making
this Law
applicable to the taxing district is held if | 13 | | the bonds were approved by
referendum after the date on which | 14 | | the referendum making this Law
applicable to the taxing | 15 | | district is held; (e) made for any
taxing district to pay | 16 | | interest or principal on
revenue bonds issued before the date | 17 | | on which the referendum making this Law
applicable to the
| 18 | | taxing district is held for payment of which a property tax
| 19 | | levy or the full faith and credit of the unit of local | 20 | | government is pledged;
however, a tax for the payment of | 21 | | interest or principal on those bonds shall be
made only after | 22 | | the governing body of the unit of local government finds that
| 23 | | all other sources for payment are insufficient to make those | 24 | | payments; (f) made
for payments under a building commission | 25 | | lease when the lease payments are for
the retirement of bonds | 26 | | issued by the commission before the date on which the
|
| | | HB3082 | - 9 - | LRB100 10828 HLH 21061 b |
|
| 1 | | referendum making this
Law applicable to the taxing district is | 2 | | held to
pay for the building project; (g) made for payments due | 3 | | under installment
contracts entered into before the date on | 4 | | which the referendum making this Law
applicable to
the taxing | 5 | | district is held;
(h) made for payments
of principal and | 6 | | interest on limited bonds,
as defined in Section 3 of the Local | 7 | | Government Debt Reform Act, in an amount
not to exceed the debt | 8 | | service extension base less the amount in items (b),
(c), and | 9 | | (e) of this definition for non-referendum obligations, except
| 10 | | obligations initially issued pursuant to referendum; (i) made | 11 | | for payments
of
principal and interest on bonds issued under | 12 | | Section 15 of the Local Government
Debt Reform Act;
(j)
made | 13 | | for a qualified airport authority to pay interest or principal | 14 | | on
general obligation bonds issued for the purpose of paying | 15 | | obligations due
under, or financing airport facilities | 16 | | required to be acquired, constructed,
installed or equipped | 17 | | pursuant to, contracts entered into before March
1, 1996 (but | 18 | | not including any amendments to such a contract taking effect | 19 | | on
or after that date); (k) made to fund expenses of providing | 20 | | joint
recreational programs for persons with disabilities | 21 | | under Section 5-8 of
the
Park District Code or Section 11-95-14 | 22 | | of the Illinois Municipal Code; (l) made for contributions to a | 23 | | firefighter's pension fund created under Article 4 of the | 24 | | Illinois Pension Code, to the extent of the amount certified | 25 | | under item (5) of Section 4-134 of the Illinois Pension Code; | 26 | | and (m) made for the taxing district to pay interest or |
| | | HB3082 | - 10 - | LRB100 10828 HLH 21061 b |
|
| 1 | | principal on general obligation bonds issued pursuant to | 2 | | Section 19-3.10 of the School Code.
| 3 | | "Aggregate extension" for all taxing districts to which | 4 | | this Law applies in
accordance with paragraph (2) of subsection | 5 | | (e) of Section 18-213 or this amendatory Act of the 100th | 6 | | General Assembly means the
annual corporate extension for the
| 7 | | taxing district and those special purpose extensions that are | 8 | | made annually for
the taxing district, excluding special | 9 | | purpose extensions: (a) made for the
taxing district to pay | 10 | | interest or principal on general obligation bonds that
were | 11 | | approved by referendum; (b) made for any taxing district to pay | 12 | | interest
or principal on general obligation bonds issued before | 13 | | the effective date of
this amendatory Act of 1997;
(c) made
for | 14 | | any taxing district to pay interest or principal on bonds | 15 | | issued to refund
or continue to refund those bonds issued | 16 | | before the effective date
of this amendatory Act of 1997;
(d) | 17 | | made for any
taxing district to pay interest or principal on | 18 | | bonds issued to refund or
continue to refund bonds issued after | 19 | | the effective date of this amendatory Act
of 1997 if the bonds | 20 | | were approved by referendum after the effective date of
this | 21 | | amendatory Act of 1997;
(e) made for any
taxing district to pay | 22 | | interest or principal on
revenue bonds issued before the | 23 | | effective date of this amendatory Act of 1997
for payment of | 24 | | which a property tax
levy or the full faith and credit of the | 25 | | unit of local government is pledged;
however, a tax for the | 26 | | payment of interest or principal on those bonds shall be
made |
| | | HB3082 | - 11 - | LRB100 10828 HLH 21061 b |
|
| 1 | | only after the governing body of the unit of local government | 2 | | finds that
all other sources for payment are insufficient to | 3 | | make those payments; (f) made
for payments under a building | 4 | | commission lease when the lease payments are for
the retirement | 5 | | of bonds issued by the commission before the effective date
of | 6 | | this amendatory Act of 1997
to
pay for the building project; | 7 | | (g) made for payments due under installment
contracts entered | 8 | | into before the effective date of this amendatory Act of
1997;
| 9 | | (h) made for payments
of principal and interest on limited | 10 | | bonds,
as defined in Section 3 of the Local Government Debt | 11 | | Reform Act, in an amount
not to exceed the debt service | 12 | | extension base less the amount in items (b),
(c), and (e) of | 13 | | this definition for non-referendum obligations, except
| 14 | | obligations initially issued pursuant to referendum; (i) made | 15 | | for payments
of
principal and interest on bonds issued under | 16 | | Section 15 of the Local Government
Debt Reform Act;
(j)
made | 17 | | for a qualified airport authority to pay interest or principal | 18 | | on
general obligation bonds issued for the purpose of paying | 19 | | obligations due
under, or financing airport facilities | 20 | | required to be acquired, constructed,
installed or equipped | 21 | | pursuant to, contracts entered into before March
1, 1996 (but | 22 | | not including any amendments to such a contract taking effect | 23 | | on
or after that date); (k) made to fund expenses of providing | 24 | | joint
recreational programs for persons with disabilities | 25 | | under Section 5-8 of
the
Park District Code or Section 11-95-14 | 26 | | of the Illinois Municipal Code; and (l) made for contributions |
| | | HB3082 | - 12 - | LRB100 10828 HLH 21061 b |
|
| 1 | | to a firefighter's pension fund created under Article 4 of the | 2 | | Illinois Pension Code, to the extent of the amount certified | 3 | | under item (5) of Section 4-134 of the Illinois Pension Code.
| 4 | | "Debt service extension base" means an amount equal to that | 5 | | portion of the
extension for a taxing district for the 1994 | 6 | | levy year, or for those taxing
districts subject to this Law in | 7 | | accordance with Section 18-213, except for
those subject to | 8 | | paragraph (2) of subsection (e) of Section 18-213, for the
levy
| 9 | | year in which the referendum making this Law applicable to the | 10 | | taxing district
is held, or for those taxing districts subject | 11 | | to this Law in accordance with
paragraph (2) of subsection (e) | 12 | | of Section 18-213 for the 1996 levy year,
constituting an
| 13 | | extension for payment of principal and interest on bonds issued | 14 | | by the taxing
district without referendum, but not including | 15 | | excluded non-referendum bonds. For park districts (i) that were | 16 | | first
subject to this Law in 1991 or 1995 and (ii) whose | 17 | | extension for the 1994 levy
year for the payment of principal | 18 | | and interest on bonds issued by the park
district without | 19 | | referendum (but not including excluded non-referendum bonds)
| 20 | | was less than 51% of the amount for the 1991 levy year | 21 | | constituting an
extension for payment of principal and interest | 22 | | on bonds issued by the park
district without referendum (but | 23 | | not including excluded non-referendum bonds),
"debt service | 24 | | extension base" means an amount equal to that portion of the
| 25 | | extension for the 1991 levy year constituting an extension for | 26 | | payment of
principal and interest on bonds issued by the park |
| | | HB3082 | - 13 - | LRB100 10828 HLH 21061 b |
|
| 1 | | district without referendum
(but not including excluded | 2 | | non-referendum bonds). A debt service extension base | 3 | | established or increased at any time pursuant to any provision | 4 | | of this Law, except Section 18-212, shall be increased each | 5 | | year commencing with the later of (i) the 2009 levy year or | 6 | | (ii) the first levy year in which this Law becomes applicable | 7 | | to the taxing district, by the lesser of 5% or the percentage | 8 | | increase in the Consumer Price Index during the 12-month | 9 | | calendar year preceding the levy year. The debt service | 10 | | extension
base may be established or increased as provided | 11 | | under Section 18-212.
"Excluded non-referendum bonds" means | 12 | | (i) bonds authorized by Public
Act 88-503 and issued under | 13 | | Section 20a of the Chicago Park District Act for
aquarium and | 14 | | museum projects; (ii) bonds issued under Section 15 of the
| 15 | | Local Government Debt Reform Act; or (iii) refunding | 16 | | obligations issued
to refund or to continue to refund | 17 | | obligations initially issued pursuant to
referendum.
| 18 | | "Special purpose extensions" include, but are not limited | 19 | | to, extensions
for levies made on an annual basis for | 20 | | unemployment and workers'
compensation, self-insurance, | 21 | | contributions to pension plans, and extensions
made pursuant to | 22 | | Section 6-601 of the Illinois Highway Code for a road
| 23 | | district's permanent road fund whether levied annually or not. | 24 | | The
extension for a special service area is not included in the
| 25 | | aggregate extension.
| 26 | | "Aggregate extension base" means the taxing district's |
| | | HB3082 | - 14 - | LRB100 10828 HLH 21061 b |
|
| 1 | | last preceding
aggregate extension as adjusted under Sections | 2 | | 18-135, 18-215,
and 18-230.
An adjustment under Section 18-135 | 3 | | shall be made for the 2007 levy year and all subsequent levy | 4 | | years whenever one or more counties within which a taxing | 5 | | district is located (i) used estimated valuations or rates when | 6 | | extending taxes in the taxing district for the last preceding | 7 | | levy year that resulted in the over or under extension of | 8 | | taxes, or (ii) increased or decreased the tax extension for the | 9 | | last preceding levy year as required by Section 18-135(c). | 10 | | Whenever an adjustment is required under Section 18-135, the | 11 | | aggregate extension base of the taxing district shall be equal | 12 | | to the amount that the aggregate extension of the taxing | 13 | | district would have been for the last preceding levy year if | 14 | | either or both (i) actual, rather than estimated, valuations or | 15 | | rates had been used to calculate the extension of taxes for the | 16 | | last levy year, or (ii) the tax extension for the last | 17 | | preceding levy year had not been adjusted as required by | 18 | | subsection (c) of Section 18-135.
| 19 | | Notwithstanding any other provision of law, for levy year | 20 | | 2012, the aggregate extension base for West Northfield School | 21 | | District No. 31 in Cook County shall be $12,654,592. | 22 | | "Levy year" has the same meaning as "year" under Section
| 23 | | 1-155.
| 24 | | "New property" means (i) the assessed value, after final | 25 | | board of review or
board of appeals action, of new improvements | 26 | | or additions to existing
improvements on any parcel of real |
| | | HB3082 | - 15 - | LRB100 10828 HLH 21061 b |
|
| 1 | | property that increase the assessed value of
that real property | 2 | | during the levy year multiplied by the equalization factor
| 3 | | issued by the Department under Section 17-30, (ii) the assessed | 4 | | value, after
final board of review or board of appeals action, | 5 | | of real property not exempt
from real estate taxation, which | 6 | | real property was exempt from real estate
taxation for any | 7 | | portion of the immediately preceding levy year, multiplied by
| 8 | | the equalization factor issued by the Department under Section | 9 | | 17-30, including the assessed value, upon final stabilization | 10 | | of occupancy after new construction is complete, of any real | 11 | | property located within the boundaries of an otherwise or | 12 | | previously exempt military reservation that is intended for | 13 | | residential use and owned by or leased to a private corporation | 14 | | or other entity,
(iii) in counties that classify in accordance | 15 | | with Section 4 of Article
IX of the
Illinois Constitution, an | 16 | | incentive property's additional assessed value
resulting from | 17 | | a
scheduled increase in the level of assessment as applied to | 18 | | the first year
final board of
review market value, and (iv) any | 19 | | increase in assessed value due to oil or gas production from an | 20 | | oil or gas well required to be permitted under the Hydraulic | 21 | | Fracturing Regulatory Act that was not produced in or accounted | 22 | | for during the previous levy year.
In addition, the county | 23 | | clerk in a county containing a population of
3,000,000 or more | 24 | | shall include in the 1997
recovered tax increment value for any | 25 | | school district, any recovered tax
increment value that was | 26 | | applicable to the 1995 tax year calculations.
|
| | | HB3082 | - 16 - | LRB100 10828 HLH 21061 b |
|
| 1 | | "Qualified airport authority" means an airport authority | 2 | | organized under
the Airport Authorities Act and located in a | 3 | | county bordering on the State of
Wisconsin and having a | 4 | | population in excess of 200,000 and not greater than
500,000.
| 5 | | "Recovered tax increment value" means, except as otherwise | 6 | | provided in this
paragraph, the amount of the current year's | 7 | | equalized assessed value, in the
first year after a | 8 | | municipality terminates
the designation of an area as a | 9 | | redevelopment project area previously
established under the | 10 | | Tax Increment Allocation Development Act in the Illinois
| 11 | | Municipal Code, previously established under the Industrial | 12 | | Jobs Recovery Law
in the Illinois Municipal Code, previously | 13 | | established under the Economic Development Project Area Tax | 14 | | Increment Act of 1995, or previously established under the | 15 | | Economic
Development Area Tax Increment Allocation Act, of each | 16 | | taxable lot, block,
tract, or parcel of real property in the | 17 | | redevelopment project area over and
above the initial equalized | 18 | | assessed value of each property in the
redevelopment project | 19 | | area.
For the taxes which are extended for the 1997 levy year, | 20 | | the recovered tax
increment value for a non-home rule taxing | 21 | | district that first became subject
to this Law for the 1995 | 22 | | levy year because a majority of its 1994 equalized
assessed | 23 | | value was in an affected county or counties shall be increased | 24 | | if a
municipality terminated the designation of an area in 1993 | 25 | | as a redevelopment
project area previously established under | 26 | | the Tax Increment Allocation
Development Act in the Illinois |
| | | HB3082 | - 17 - | LRB100 10828 HLH 21061 b |
|
| 1 | | Municipal Code, previously established under
the Industrial | 2 | | Jobs Recovery Law in the Illinois Municipal Code, or previously
| 3 | | established under the Economic Development Area Tax Increment | 4 | | Allocation Act,
by an amount equal to the 1994 equalized | 5 | | assessed value of each taxable lot,
block, tract, or parcel of | 6 | | real property in the redevelopment project area over
and above | 7 | | the initial equalized assessed value of each property in the
| 8 | | redevelopment project area.
In the first year after a | 9 | | municipality
removes a taxable lot, block, tract, or parcel of | 10 | | real property from a
redevelopment project area established | 11 | | under the Tax Increment Allocation
Development Act in the | 12 | | Illinois
Municipal Code, the Industrial Jobs Recovery Law
in | 13 | | the Illinois Municipal Code, or the Economic
Development Area | 14 | | Tax Increment Allocation Act, "recovered tax increment value"
| 15 | | means the amount of the current year's equalized assessed value | 16 | | of each taxable
lot, block, tract, or parcel of real property | 17 | | removed from the redevelopment
project area over and above the | 18 | | initial equalized assessed value of that real
property before | 19 | | removal from the redevelopment project area.
| 20 | | Except as otherwise provided in this Section, "limiting | 21 | | rate" means a
fraction the numerator of which is the last
| 22 | | preceding aggregate extension base times an amount equal to one | 23 | | plus the
extension limitation defined in this Section and the | 24 | | denominator of which
is the current year's equalized assessed | 25 | | value of all real property in the
territory under the | 26 | | jurisdiction of the taxing district during the prior
levy year. |
| | | HB3082 | - 18 - | LRB100 10828 HLH 21061 b |
|
| 1 | | For those taxing districts that reduced their aggregate
| 2 | | extension for the last preceding levy year, the highest | 3 | | aggregate extension
in any of the last 3 preceding levy years | 4 | | shall be used for the purpose of
computing the limiting rate. | 5 | | The denominator shall not include new
property or the recovered | 6 | | tax increment
value.
If a new rate, a rate decrease, or a | 7 | | limiting rate increase has been approved at an election held | 8 | | after March 21, 2006, then (i) the otherwise applicable | 9 | | limiting rate shall be increased by the amount of the new rate | 10 | | or shall be reduced by the amount of the rate decrease, as the | 11 | | case may be, or (ii) in the case of a limiting rate increase, | 12 | | the limiting rate shall be equal to the rate set forth
in the | 13 | | proposition approved by the voters for each of the years | 14 | | specified in the proposition, after
which the limiting rate of | 15 | | the taxing district shall be calculated as otherwise provided. | 16 | | In the case of a taxing district that obtained referendum | 17 | | approval for an increased limiting rate on March 20, 2012, the | 18 | | limiting rate for tax year 2012 shall be the rate that | 19 | | generates the approximate total amount of taxes extendable for | 20 | | that tax year, as set forth in the proposition approved by the | 21 | | voters; this rate shall be the final rate applied by the county | 22 | | clerk for the aggregate of all capped funds of the district for | 23 | | tax year 2012.
| 24 | | (Source: P.A. 98-6, eff. 3-29-13; 98-23, eff. 6-17-13; 99-143, | 25 | | eff. 7-27-15.)
|
| | | HB3082 | - 19 - | LRB100 10828 HLH 21061 b |
|
| 1 | | (Text of Section after amendment by P.A. 99-521 ) | 2 | | Sec. 18-185. Short title; definitions. This Division 5 may | 3 | | be cited as the
Property Tax Extension Limitation Law. As used | 4 | | in this Division 5:
| 5 | | "Consumer Price Index" means the Consumer Price Index for | 6 | | All Urban
Consumers for all items published by the United | 7 | | States Department of Labor.
| 8 | | "Extension limitation" means , except as otherwise provided | 9 | | in this Section, (a) 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 or (b) the rate of | 12 | | increase approved by voters under Section 18-205.
| 13 | | If, at a point in time designated by the State Board of | 14 | | Education by rule, any school district that is subject to this | 15 | | Law has reserves of 50% or more of its operating budget for a | 16 | | levy year, then, for that school district, for the next levy | 17 | | year, "extension limitation" means 0% or the rate of increase | 18 | | approved by the voters under Section 18-205. | 19 | | "Affected county" means a county of 3,000,000 or more | 20 | | inhabitants or a
county contiguous to a county of 3,000,000 or | 21 | | more inhabitants.
| 22 | | "Taxing district" has the same meaning provided in Section | 23 | | 1-150, except as
otherwise provided in this Section. For the | 24 | | 1991 through 1994 levy years only,
"taxing district" includes | 25 | | only each non-home rule taxing district having the
majority of | 26 | | its
1990 equalized assessed value within any county or counties |
| | | HB3082 | - 20 - | LRB100 10828 HLH 21061 b |
|
| 1 | | contiguous to a
county with 3,000,000 or more inhabitants. | 2 | | Beginning with the 1995 levy
year, "taxing district" includes | 3 | | only each non-home rule taxing district
subject to this Law | 4 | | before the 1995 levy year and each non-home rule
taxing | 5 | | district not subject to this Law before the 1995 levy year | 6 | | having the
majority of its 1994 equalized assessed value in an | 7 | | affected county or
counties. Beginning with the levy year in
| 8 | | which this Law becomes applicable to a taxing district as
| 9 | | provided in Section 18-213, "taxing district" also includes | 10 | | those taxing
districts made subject to this Law as provided in | 11 | | Section 18-213.
Beginning in levy year 2017, "taxing district" | 12 | | also means any school district that had reserves of 50% or more | 13 | | of its operating budget at the point in time designated by the | 14 | | State Board of Education by rule.
| 15 | | "Aggregate extension" for taxing districts to which this | 16 | | Law applied before
the 1995 levy year means the annual | 17 | | corporate extension for the taxing
district and those special | 18 | | purpose extensions that are made annually for
the taxing | 19 | | district, excluding special purpose extensions: (a) made for | 20 | | the
taxing district to pay interest or principal on general | 21 | | obligation bonds
that were approved by referendum; (b) made for | 22 | | any taxing district to pay
interest or principal on general | 23 | | obligation bonds issued before October 1,
1991; (c) made for | 24 | | any taxing district to pay interest or principal on bonds
| 25 | | issued to refund or continue to refund those bonds issued | 26 | | before October 1,
1991; (d)
made for any taxing district to pay |
| | | HB3082 | - 21 - | LRB100 10828 HLH 21061 b |
|
| 1 | | interest or principal on bonds
issued to refund or continue to | 2 | | refund bonds issued after October 1, 1991 that
were approved by | 3 | | referendum; (e)
made for any taxing district to pay interest
or | 4 | | principal on revenue bonds issued before October 1, 1991 for | 5 | | payment of
which a property tax levy or the full faith and | 6 | | credit of the unit of local
government is pledged; however, a | 7 | | tax for the payment of interest or principal
on those bonds | 8 | | shall be made only after the governing body of the unit of | 9 | | local
government finds that all other sources for payment are | 10 | | insufficient to make
those payments; (f) made for payments | 11 | | under a building commission lease when
the lease payments are | 12 | | for the retirement of bonds issued by the commission
before | 13 | | October 1, 1991, to pay for the building project; (g) made for | 14 | | payments
due under installment contracts entered into before | 15 | | October 1, 1991;
(h) made for payments of principal and | 16 | | interest on bonds issued under the
Metropolitan Water | 17 | | Reclamation District Act to finance construction projects
| 18 | | initiated before October 1, 1991; (i) made for payments of | 19 | | principal and
interest on limited bonds, as defined in Section | 20 | | 3 of the Local Government Debt
Reform Act, in an amount not to | 21 | | exceed the debt service extension base less
the amount in items | 22 | | (b), (c), (e), and (h) of this definition for
non-referendum | 23 | | obligations, except obligations initially issued pursuant to
| 24 | | referendum; (j) made for payments of principal and interest on | 25 | | bonds
issued under Section 15 of the Local Government Debt | 26 | | Reform Act; (k)
made
by a school district that participates in |
| | | HB3082 | - 22 - | LRB100 10828 HLH 21061 b |
|
| 1 | | the Special Education District of
Lake County, created by | 2 | | special education joint agreement under Section
10-22.31 of the | 3 | | School Code, for payment of the school district's share of the
| 4 | | amounts required to be contributed by the Special Education | 5 | | District of Lake
County to the Illinois Municipal Retirement | 6 | | Fund under Article 7 of the
Illinois Pension Code; the amount | 7 | | of any extension under this item (k) shall be
certified by the | 8 | | school district to the county clerk; (l) made to fund
expenses | 9 | | of providing joint recreational programs for persons with | 10 | | disabilities under
Section 5-8 of
the
Park District Code or | 11 | | Section 11-95-14 of the Illinois Municipal Code; (m) made for | 12 | | temporary relocation loan repayment purposes pursuant to | 13 | | Sections 2-3.77 and 17-2.2d of the School Code; (n) made for | 14 | | payment of principal and interest on any bonds issued under the | 15 | | authority of Section 17-2.2d of the School Code; (o) made for | 16 | | contributions to a firefighter's pension fund created under | 17 | | Article 4 of the Illinois Pension Code, to the extent of the | 18 | | amount certified under item (5) of Section 4-134 of the | 19 | | Illinois Pension Code; and (p) made for road purposes in the | 20 | | first year after a township assumes the rights, powers, duties, | 21 | | assets, property, liabilities, obligations, and
| 22 | | responsibilities of a road district abolished under the | 23 | | provisions of Section 6-133 of the Illinois Highway 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 18-213 |
| | | HB3082 | - 23 - | LRB100 10828 HLH 21061 b |
|
| 1 | | or this amendatory Act of the 100th General Assembly ) means the | 2 | | annual corporate extension for the
taxing district and those | 3 | | special purpose extensions that are made annually for
the | 4 | | taxing district, excluding special purpose extensions: (a) | 5 | | made for the
taxing district to pay interest or principal on | 6 | | general obligation bonds that
were approved by referendum; (b) | 7 | | made for any taxing district to pay interest
or principal on | 8 | | general obligation bonds issued before March 1, 1995; (c) made
| 9 | | for any taxing district to pay interest or principal on bonds | 10 | | issued to refund
or continue to refund those bonds issued | 11 | | before March 1, 1995; (d) made for any
taxing district to pay | 12 | | interest or principal on bonds issued to refund or
continue to | 13 | | refund bonds issued after March 1, 1995 that were approved by
| 14 | | referendum; (e) made for any taxing district to pay interest or | 15 | | principal on
revenue bonds issued before March 1, 1995 for | 16 | | payment of which a property tax
levy or the full faith and | 17 | | credit of the unit of local government is pledged;
however, a | 18 | | tax for the payment of interest or principal on those bonds | 19 | | shall be
made only after the governing body of the unit of | 20 | | local government finds that
all other sources for payment are | 21 | | insufficient to make those payments; (f) made
for payments | 22 | | under a building commission lease when the lease payments are | 23 | | for
the retirement of bonds issued by the commission before | 24 | | March 1, 1995 to
pay for the building project; (g) made for | 25 | | payments due under installment
contracts entered into before | 26 | | March 1, 1995; (h) made for payments of
principal and interest |
| | | HB3082 | - 24 - | LRB100 10828 HLH 21061 b |
|
| 1 | | on bonds issued under the Metropolitan Water Reclamation
| 2 | | District Act to finance construction projects initiated before | 3 | | October 1,
1991; (h-4) made for stormwater management purposes | 4 | | by the Metropolitan Water Reclamation District of Greater | 5 | | Chicago under Section 12 of the Metropolitan Water Reclamation | 6 | | District Act; (i) made for payments of principal and interest | 7 | | on limited bonds,
as defined in Section 3 of the Local | 8 | | Government Debt Reform Act, in an amount
not to exceed the debt | 9 | | service extension base less the amount in items (b),
(c), and | 10 | | (e) of this definition for non-referendum obligations, except
| 11 | | obligations initially issued pursuant to referendum and bonds | 12 | | described in
subsection (h) of this definition; (j) made for | 13 | | payments of
principal and interest on bonds issued under | 14 | | Section 15 of the Local Government
Debt Reform Act; (k) made | 15 | | for payments of principal and interest on bonds
authorized by | 16 | | Public Act 88-503 and issued under Section 20a of the Chicago
| 17 | | Park District Act for aquarium or
museum projects; (l) made for | 18 | | payments of principal and interest on
bonds
authorized by | 19 | | Public Act 87-1191 or 93-601 and (i) issued pursuant to Section | 20 | | 21.2 of the Cook County Forest
Preserve District Act, (ii) | 21 | | issued under Section 42 of the Cook County
Forest Preserve | 22 | | District Act for zoological park projects, or (iii) issued
| 23 | | under Section 44.1 of the Cook County Forest Preserve District | 24 | | Act for
botanical gardens projects; (m) made
pursuant
to | 25 | | Section 34-53.5 of the School Code, whether levied annually or | 26 | | not;
(n) made to fund expenses of providing joint recreational |
| | | HB3082 | - 25 - | LRB100 10828 HLH 21061 b |
|
| 1 | | programs for persons with disabilities under Section 5-8 of the | 2 | | Park
District Code or Section 11-95-14 of the Illinois | 3 | | Municipal Code;
(o) made by the
Chicago Park
District for | 4 | | recreational programs for persons with disabilities under | 5 | | subsection (c) of
Section
7.06 of the Chicago Park District | 6 | | Act; (p) made for contributions to a firefighter's pension fund | 7 | | created under Article 4 of the Illinois Pension Code, to the | 8 | | extent of the amount certified under item (5) of Section 4-134 | 9 | | of the Illinois Pension Code; (q) made by Ford Heights School | 10 | | District 169 under Section 17-9.02 of the School Code; and (r) | 11 | | made for the purpose of making employer contributions to the | 12 | | Public School Teachers' Pension and Retirement Fund of Chicago | 13 | | under Section 34-53 of the School Code.
| 14 | | "Aggregate extension" for all taxing districts to which | 15 | | this Law applies in
accordance with Section 18-213, except for | 16 | | those taxing districts subject to
paragraph (2) of subsection | 17 | | (e) of Section 18-213, means the annual corporate
extension for | 18 | | the
taxing district and those special purpose extensions that | 19 | | are made annually for
the taxing district, excluding special | 20 | | purpose extensions: (a) made for the
taxing district to pay | 21 | | interest or principal on general obligation bonds that
were | 22 | | approved by referendum; (b) made for any taxing district to pay | 23 | | interest
or principal on general obligation bonds issued before | 24 | | the date on which the
referendum making this
Law applicable to | 25 | | the taxing district is held; (c) made
for any taxing district | 26 | | to pay interest or principal on bonds issued to refund
or |
| | | HB3082 | - 26 - | LRB100 10828 HLH 21061 b |
|
| 1 | | continue to refund those bonds issued before the date on which | 2 | | the
referendum making this Law
applicable to the taxing | 3 | | district is held;
(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 the date on which the referendum | 6 | | making
this Law
applicable to the taxing district is held if | 7 | | the bonds were approved by
referendum after the date on which | 8 | | the referendum making this Law
applicable to the taxing | 9 | | district is held; (e) made for any
taxing district to pay | 10 | | interest or principal on
revenue bonds issued before the date | 11 | | on which the referendum making this Law
applicable to the
| 12 | | taxing district is held for payment of which a property tax
| 13 | | levy or the full faith and credit of the unit of local | 14 | | government is pledged;
however, a tax for the payment of | 15 | | interest or principal on those bonds shall be
made only after | 16 | | the governing body of the unit of local government finds that
| 17 | | all other sources for payment are insufficient to make those | 18 | | payments; (f) made
for payments under a building commission | 19 | | lease when the lease payments are for
the retirement of bonds | 20 | | issued by the commission before the date on which the
| 21 | | referendum making this
Law applicable to the taxing district is | 22 | | held to
pay for the building project; (g) made for payments due | 23 | | under installment
contracts entered into before the date on | 24 | | which the referendum making this Law
applicable to
the taxing | 25 | | district is held;
(h) made for payments
of principal and | 26 | | interest on limited bonds,
as defined in Section 3 of the Local |
| | | HB3082 | - 27 - | LRB100 10828 HLH 21061 b |
|
| 1 | | Government Debt Reform Act, in an amount
not to exceed the debt | 2 | | service extension base less the amount in items (b),
(c), and | 3 | | (e) of this definition for non-referendum obligations, except
| 4 | | obligations initially issued pursuant to referendum; (i) made | 5 | | for payments
of
principal and interest on bonds issued under | 6 | | Section 15 of the Local Government
Debt Reform Act;
(j)
made | 7 | | for a qualified airport authority to pay interest or principal | 8 | | on
general obligation bonds issued for the purpose of paying | 9 | | obligations due
under, or financing airport facilities | 10 | | required to be acquired, constructed,
installed or equipped | 11 | | pursuant to, contracts entered into before March
1, 1996 (but | 12 | | not including any amendments to such a contract taking effect | 13 | | on
or after that date); (k) made to fund expenses of providing | 14 | | joint
recreational programs for persons with disabilities | 15 | | under Section 5-8 of
the
Park District Code or Section 11-95-14 | 16 | | of the Illinois Municipal Code; (l) made for contributions to a | 17 | | firefighter's pension fund created under Article 4 of the | 18 | | Illinois Pension Code, to the extent of the amount certified | 19 | | under item (5) of Section 4-134 of the Illinois Pension Code; | 20 | | and (m) made for the taxing district to pay interest or | 21 | | principal on general obligation bonds issued pursuant to | 22 | | Section 19-3.10 of the School Code.
| 23 | | "Aggregate extension" for all taxing districts to which | 24 | | this Law applies in
accordance with paragraph (2) of subsection | 25 | | (e) of Section 18-213 or this amendatory Act of the 100th | 26 | | General Assembly means the
annual corporate extension for the
|
| | | HB3082 | - 28 - | LRB100 10828 HLH 21061 b |
|
| 1 | | taxing district and those special purpose extensions that are | 2 | | made annually for
the taxing district, excluding special | 3 | | purpose extensions: (a) made for the
taxing district to pay | 4 | | interest or principal on general obligation bonds that
were | 5 | | approved by referendum; (b) made for any taxing district to pay | 6 | | interest
or principal on general obligation bonds issued before | 7 | | the effective date of
this amendatory Act of 1997;
(c) made
for | 8 | | any taxing district to pay interest or principal on bonds | 9 | | issued to refund
or continue to refund those bonds issued | 10 | | before the effective date
of this amendatory Act of 1997;
(d) | 11 | | made for any
taxing district to pay interest or principal on | 12 | | bonds issued to refund or
continue to refund bonds issued after | 13 | | the effective date of this amendatory Act
of 1997 if the bonds | 14 | | were approved by referendum after the effective date of
this | 15 | | amendatory Act of 1997;
(e) made for any
taxing district to pay | 16 | | interest or principal on
revenue bonds issued before the | 17 | | effective date of this amendatory Act of 1997
for payment of | 18 | | which a property tax
levy or the full faith and credit of the | 19 | | unit of local government is pledged;
however, a tax for the | 20 | | payment of interest or principal on those bonds shall be
made | 21 | | only after the governing body of the unit of local government | 22 | | finds that
all other sources for payment are insufficient to | 23 | | make those payments; (f) made
for payments under a building | 24 | | commission lease when the lease payments are for
the retirement | 25 | | of bonds issued by the commission before the effective date
of | 26 | | this amendatory Act of 1997
to
pay for the building project; |
| | | HB3082 | - 29 - | LRB100 10828 HLH 21061 b |
|
| 1 | | (g) made for payments due under installment
contracts entered | 2 | | into before the effective date of this amendatory Act of
1997;
| 3 | | (h) made for payments
of principal and interest on limited | 4 | | bonds,
as defined in Section 3 of the Local Government Debt | 5 | | Reform Act, in an amount
not to exceed the debt service | 6 | | extension base less the amount in items (b),
(c), and (e) of | 7 | | this definition for non-referendum obligations, except
| 8 | | obligations initially issued pursuant to referendum; (i) made | 9 | | for payments
of
principal and interest on bonds issued under | 10 | | Section 15 of the Local Government
Debt Reform Act;
(j)
made | 11 | | for a qualified airport authority to pay interest or principal | 12 | | on
general obligation bonds issued for the purpose of paying | 13 | | obligations due
under, or financing airport facilities | 14 | | required to be acquired, constructed,
installed or equipped | 15 | | pursuant to, contracts entered into before March
1, 1996 (but | 16 | | not including any amendments to such a contract taking effect | 17 | | on
or after that date); (k) made to fund expenses of providing | 18 | | joint
recreational programs for persons with disabilities | 19 | | under Section 5-8 of
the
Park District Code or Section 11-95-14 | 20 | | of the Illinois Municipal Code; and (l) made for contributions | 21 | | to a firefighter's pension fund created under Article 4 of the | 22 | | Illinois Pension Code, to the extent of the amount certified | 23 | | under item (5) of Section 4-134 of the Illinois Pension 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 |
| | | HB3082 | - 30 - | LRB100 10828 HLH 21061 b |
|
| 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 |
| | | HB3082 | - 31 - | LRB100 10828 HLH 21061 b |
|
| 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 |
| | | HB3082 | - 32 - | LRB100 10828 HLH 21061 b |
|
| 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 | | Notwithstanding any other provision of law, for levy year | 14 | | 2012, the aggregate extension base for West Northfield School | 15 | | District No. 31 in Cook County shall be $12,654,592. | 16 | | "Levy year" has the same meaning as "year" under Section
| 17 | | 1-155.
| 18 | | "New property" means (i) the assessed value, after final | 19 | | board of review or
board of appeals action, of new improvements | 20 | | or additions to existing
improvements on any parcel of real | 21 | | property that increase the assessed value of
that real property | 22 | | during the levy year multiplied by the equalization factor
| 23 | | issued by the Department under Section 17-30, (ii) the assessed | 24 | | value, after
final board of review or board of appeals action, | 25 | | of real property not exempt
from real estate taxation, which | 26 | | real property was exempt from real estate
taxation for any |
| | | HB3082 | - 33 - | LRB100 10828 HLH 21061 b |
|
| 1 | | portion of the immediately preceding levy year, multiplied by
| 2 | | the equalization factor issued by the Department under Section | 3 | | 17-30, including the assessed value, upon final stabilization | 4 | | of occupancy after new construction is complete, of any real | 5 | | property located within the boundaries of an otherwise or | 6 | | previously exempt military reservation that is intended for | 7 | | residential use and owned by or leased to a private corporation | 8 | | or other entity,
(iii) in counties that classify in accordance | 9 | | with Section 4 of Article
IX of the
Illinois Constitution, an | 10 | | incentive property's additional assessed value
resulting from | 11 | | a
scheduled increase in the level of assessment as applied to | 12 | | the first year
final board of
review market value, and (iv) any | 13 | | increase in assessed value due to oil or gas production from an | 14 | | oil or gas well required to be permitted under the Hydraulic | 15 | | Fracturing Regulatory Act that was not produced in or accounted | 16 | | for during the previous levy year.
In addition, the county | 17 | | clerk in a county containing a population of
3,000,000 or more | 18 | | shall include in the 1997
recovered tax increment value for any | 19 | | school district, any recovered tax
increment value that was | 20 | | applicable to the 1995 tax year calculations.
| 21 | | "Qualified airport authority" means an airport authority | 22 | | organized under
the Airport Authorities Act and located in a | 23 | | county bordering on the State of
Wisconsin and having a | 24 | | population in excess of 200,000 and not greater than
500,000.
| 25 | | "Recovered tax increment value" means, except as otherwise | 26 | | provided in this
paragraph, the amount of the current year's |
| | | HB3082 | - 34 - | LRB100 10828 HLH 21061 b |
|
| 1 | | equalized assessed value, in the
first year after a | 2 | | municipality terminates
the designation of an area as a | 3 | | redevelopment project area previously
established under the | 4 | | Tax Increment Allocation Development Act in the Illinois
| 5 | | Municipal Code, previously established under the Industrial | 6 | | Jobs Recovery Law
in the Illinois Municipal Code, previously | 7 | | established under the Economic Development Project Area Tax | 8 | | Increment Act of 1995, or previously established under the | 9 | | Economic
Development Area Tax Increment Allocation Act, of each | 10 | | taxable lot, block,
tract, or parcel of real property in the | 11 | | redevelopment project area over and
above the initial equalized | 12 | | assessed value of each property in the
redevelopment project | 13 | | area.
For the taxes which are extended for the 1997 levy year, | 14 | | the recovered tax
increment value for a non-home rule taxing | 15 | | district that first became subject
to this Law for the 1995 | 16 | | levy year because a majority of its 1994 equalized
assessed | 17 | | value was in an affected county or counties shall be increased | 18 | | if a
municipality terminated the designation of an area in 1993 | 19 | | as a redevelopment
project area previously established under | 20 | | the Tax Increment Allocation
Development Act in the Illinois | 21 | | Municipal Code, previously established under
the Industrial | 22 | | Jobs Recovery Law in the Illinois Municipal Code, or previously
| 23 | | established under the Economic Development Area Tax Increment | 24 | | Allocation Act,
by an amount equal to the 1994 equalized | 25 | | assessed value of each taxable lot,
block, tract, or parcel of | 26 | | real property in the redevelopment project area over
and above |
| | | HB3082 | - 35 - | LRB100 10828 HLH 21061 b |
|
| 1 | | the initial equalized assessed value of each property in the
| 2 | | redevelopment project area.
In the first year after a | 3 | | municipality
removes a taxable lot, block, tract, or parcel of | 4 | | real property from a
redevelopment project area established | 5 | | under the Tax Increment Allocation
Development Act in the | 6 | | Illinois
Municipal Code, the Industrial Jobs Recovery Law
in | 7 | | the Illinois Municipal Code, or the Economic
Development Area | 8 | | Tax Increment Allocation Act, "recovered tax increment value"
| 9 | | means the amount of the current year's equalized assessed value | 10 | | of each taxable
lot, block, tract, or parcel of real property | 11 | | removed from the redevelopment
project area over and above the | 12 | | initial equalized assessed value of that real
property before | 13 | | removal from the redevelopment project area.
| 14 | | Except as otherwise provided in this Section, "limiting | 15 | | rate" means a
fraction the numerator of which is the last
| 16 | | preceding aggregate extension base times an amount equal to one | 17 | | plus the
extension limitation defined in this Section and the | 18 | | denominator of which
is the current year's equalized assessed | 19 | | value of all real property in the
territory under the | 20 | | jurisdiction of the taxing district during the prior
levy year. | 21 | | For those taxing districts that reduced their aggregate
| 22 | | extension for the last preceding levy year, the highest | 23 | | aggregate extension
in any of the last 3 preceding levy years | 24 | | shall be used for the purpose of
computing the limiting rate. | 25 | | The denominator shall not include new
property or the recovered | 26 | | tax increment
value.
If a new rate, a rate decrease, or a |
| | | HB3082 | - 36 - | LRB100 10828 HLH 21061 b |
|
| 1 | | limiting rate increase has been approved at an election held | 2 | | after March 21, 2006, then (i) the otherwise applicable | 3 | | limiting rate shall be increased by the amount of the new rate | 4 | | or shall be reduced by the amount of the rate decrease, as the | 5 | | case may be, or (ii) in the case of a limiting rate increase, | 6 | | the limiting rate shall be equal to the rate set forth
in the | 7 | | proposition approved by the voters for each of the years | 8 | | specified in the proposition, after
which the limiting rate of | 9 | | the taxing district shall be calculated as otherwise provided. | 10 | | In the case of a taxing district that obtained referendum | 11 | | approval for an increased limiting rate on March 20, 2012, the | 12 | | limiting rate for tax year 2012 shall be the rate that | 13 | | generates the approximate total amount of taxes extendable for | 14 | | that tax year, as set forth in the proposition approved by the | 15 | | voters; this rate shall be the final rate applied by the county | 16 | | clerk for the aggregate of all capped funds of the district for | 17 | | tax year 2012.
| 18 | | (Source: P.A. 98-6, eff. 3-29-13; 98-23, eff. 6-17-13; 99-143, | 19 | | eff. 7-27-15; 99-521, eff. 6-1-17.)
| 20 | | (35 ILCS 200/18-205)
| 21 | | Sec. 18-205. Referendum to increase the extension | 22 | | limitation. A taxing
district is limited to an extension | 23 | | limitation as defined in Section 18-185 of 5% or the percentage | 24 | | increase
in the Consumer Price Index during the 12-month | 25 | | calendar year preceding the
levy year, whichever is less . A |
| | | HB3082 | - 37 - | LRB100 10828 HLH 21061 b |
|
| 1 | | taxing district may increase its extension
limitation for one | 2 | | or more levy years if that taxing district holds a referendum
| 3 | | before the levy date for the first levy year at which a | 4 | | majority of voters voting on the issue approves
adoption of a | 5 | | higher extension limitation. Referenda shall be conducted at a
| 6 | | regularly scheduled election in accordance with the Election | 7 | | Code. The question shall be presented in
substantially the | 8 | | following manner for all elections held after March 21, 2006 :
| 9 | | Shall the extension limitation under the Property Tax | 10 | | Extension Limitation Law for (insert the legal name, | 11 | | number, if any, and county or counties of the taxing | 12 | | district and geographic or other common name by which a | 13 | | school or community college district is known and referred | 14 | | to), Illinois, be increased from the lesser of 5% or the | 15 | | percentage increase in the Consumer Price Index over the | 16 | | prior levy year to (insert the percentage of the proposed | 17 | | increase)% per year for (insert each levy year for which | 18 | | the increased extension limitation will apply)? | 19 | | In the case of a school district that had reserves of 50% | 20 | | or more of its operating budget, the question shall be | 21 | | presented in
substantially the following manner: | 22 | | Shall the extension limitation under the Property Tax | 23 | | Extension Limitation Law for (insert the legal name, | 24 | | number, if any, and county or counties of the taxing | 25 | | district and geographic or other common name by which a | 26 | | school or community college district is known and referred |
| | | HB3082 | - 38 - | LRB100 10828 HLH 21061 b |
|
| 1 | | to), Illinois, be increased from 0% to (insert the | 2 | | percentage of the proposed increase)% per year for (insert | 3 | | each levy year for which the increased extension limitation | 4 | | will apply)? | 5 | | The votes must be recorded as "Yes" or "No".
| 6 | | If a majority of voters voting on the issue approves the | 7 | | adoption of
the increase, the increase shall be applicable for | 8 | | each
levy year specified.
| 9 | | The ballot for any question submitted pursuant to this | 10 | | Section shall have printed thereon, but not as a part of the | 11 | | question submitted, only the following supplemental | 12 | | information (which shall be supplied to the election authority | 13 | | by the taxing district) in substantially the following form: | 14 | | (1) For the (insert the first levy year for which the | 15 | | increased extension
limitation will be applicable) levy | 16 | | year the approximate amount of the additional tax
| 17 | | extendable against property containing a single family | 18 | | residence and having a fair market
value at the time of the | 19 | | referendum of $100,000 is estimated to be $.... | 20 | | (2) Based upon an average annual percentage increase | 21 | | (or decrease) in the
market value of such property of ...% | 22 | | (insert percentage equal to the average
annual percentage | 23 | | increase or decrease for the prior 3 levy years, at the | 24 | | time the
submission of the question is initiated by the | 25 | | taxing district, in the amount of (A) the
equalized | 26 | | assessed value of the taxable property in the taxing |
| | | HB3082 | - 39 - | LRB100 10828 HLH 21061 b |
|
| 1 | | district less (B) the new
property included in the | 2 | | equalized assessed value), the approximate amount of the
| 3 | | additional tax extendable against such property for the ... | 4 | | levy year is estimated to be
$... and for the ... levy year | 5 | | is estimated to be $.... | 6 | | Paragraph (2) shall be included only if the increased | 7 | | extension limitation will be applicable for more than one year | 8 | | and shall list each levy year for which the increased extension | 9 | | limitation will be applicable. The additional tax shown for | 10 | | each levy year shall be the approximate dollar amount of the | 11 | | increase over the amount of the most recently completed | 12 | | extension at the time the submission of the question is | 13 | | initiated by the taxing district. The approximate amount of the | 14 | | additional tax extendable shown in paragraphs (1) and (2) shall | 15 | | be calculated by multiplying $100,000 (the fair market value of | 16 | | the property without regard to any property tax exemptions) by | 17 | | (i) the percentage level of assessment prescribed for that | 18 | | property by statute, or by ordinance of the county board in | 19 | | counties that classify property for purposes of taxation in | 20 | | accordance with Section 4 of Article IX of the Illinois | 21 | | Constitution; (ii) the most recent final equalization factor | 22 | | certified to the county clerk by the Department of Revenue at | 23 | | the time the taxing district initiates the submission of the | 24 | | proposition to the electors; (iii) the last known aggregate | 25 | | extension base of the taxing district at the time the | 26 | | submission of the question is initiated by the taxing district; |
| | | HB3082 | - 40 - | LRB100 10828 HLH 21061 b |
|
| 1 | | and (iv) the difference between the percentage increase | 2 | | proposed in the question and (A) the lesser of 5% or the | 3 | | percentage increase in the Consumer Price Index for the prior | 4 | | levy year (or an estimate of the percentage increase for the | 5 | | prior levy year if the increase is unavailable at the time the | 6 | | submission of the question is initiated by the taxing district) | 7 | | or (B) 0%, as applicable ; and dividing the result by the last | 8 | | known equalized assessed value of the taxing district at the | 9 | | time the submission of the question is initiated by the taxing | 10 | | district. This amendatory Act of the 97th General Assembly is | 11 | | intended to clarify the existing requirements of this Section, | 12 | | and shall not be construed to validate any prior non-compliant | 13 | | referendum language. Any notice required to be published in | 14 | | connection with the submission of the question shall also | 15 | | contain this supplemental information and shall not contain any | 16 | | other supplemental information. Any error, miscalculation, or | 17 | | inaccuracy in computing any amount set forth on the ballot or | 18 | | in the notice that is not deliberate shall not invalidate or | 19 | | affect the validity of any proposition approved. Notice of the | 20 | | referendum shall be published and posted as otherwise required | 21 | | by law, and the submission of the question shall be initiated | 22 | | as provided by law.
| 23 | | (Source: P.A. 97-1087, eff. 8-24-12.)
| 24 | | Section 90. The State Mandates Act is amended by adding | 25 | | Section 8.41 as follows: |
| | | HB3082 | - 41 - | LRB100 10828 HLH 21061 b |
|
| 1 | | (30 ILCS 805/8.41 new) | 2 | | Sec. 8.41. Exempt mandate. Notwithstanding Sections 6 and 8 | 3 | | of this Act, no reimbursement by the State is required for the | 4 | | implementation of any mandate created by this amendatory Act of | 5 | | the 100th General Assembly.
| 6 | | Section 95. No acceleration or delay. Where this Act makes | 7 | | changes in a statute that is represented in this Act by text | 8 | | that is not yet or no longer in effect (for example, a Section | 9 | | represented by multiple versions), the use of that text does | 10 | | not accelerate or delay the taking effect of (i) the changes | 11 | | made by this Act or (ii) provisions derived from any other | 12 | | Public Act. | 13 | | Section 99. Effective date. This Act takes effect upon | 14 | | becoming law. |
|