Full Text of HB4677 102nd General Assembly
HB4677enr 102ND GENERAL ASSEMBLY |
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| 1 | | AN ACT concerning local government.
| 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 | | Section 18-185 as follows: | 6 | | (35 ILCS 200/18-185)
| 7 | | Sec. 18-185. Short title; definitions. This Division 5 | 8 | | may be cited as the
Property Tax Extension Limitation Law. As | 9 | | used in this Division 5:
| 10 | | "Consumer Price Index" means the Consumer Price Index for | 11 | | All Urban
Consumers for all items published by the United | 12 | | States Department of Labor.
| 13 | | "Extension limitation" means (a) the lesser of 5% or the | 14 | | percentage increase
in the Consumer Price Index during the | 15 | | 12-month calendar year preceding the
levy year or (b) the rate | 16 | | of increase approved by voters under Section 18-205.
| 17 | | "Affected county" means a county of 3,000,000 or more | 18 | | inhabitants or a
county contiguous to a county of 3,000,000 or | 19 | | more inhabitants.
| 20 | | "Taxing district" has the same meaning provided in Section | 21 | | 1-150, except as
otherwise provided in this Section. For the | 22 | | 1991 through 1994 levy years only,
"taxing district" includes | 23 | | only each non-home rule taxing district having the
majority of |
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| 1 | | its
1990 equalized assessed value within any county or | 2 | | counties contiguous to a
county with 3,000,000 or more | 3 | | inhabitants. Beginning with the 1995 levy
year, "taxing | 4 | | district" includes only each non-home rule taxing district
| 5 | | subject to this Law before the 1995 levy year and each non-home | 6 | | rule
taxing district not subject to this Law before the 1995 | 7 | | levy year having the
majority of its 1994 equalized assessed | 8 | | value in an affected county or
counties. Beginning with the | 9 | | levy year in
which this Law becomes applicable to a taxing | 10 | | district as
provided in Section 18-213, "taxing district" also | 11 | | includes those taxing
districts made subject to this Law as | 12 | | provided in Section 18-213.
| 13 | | "Aggregate extension" for taxing districts to which this | 14 | | Law applied before
the 1995 levy year means the annual | 15 | | corporate extension for the taxing
district and those special | 16 | | purpose extensions that are made annually for
the taxing | 17 | | district, excluding special purpose extensions: (a) made for | 18 | | the
taxing district to pay interest or principal on general | 19 | | obligation bonds
that were approved by referendum; (b) made | 20 | | for any taxing district to pay
interest or principal on | 21 | | general obligation bonds issued before October 1,
1991; (c) | 22 | | made for any taxing district to pay interest or principal on | 23 | | bonds
issued to refund or continue to refund those bonds | 24 | | issued before October 1,
1991; (d)
made for any taxing | 25 | | district to pay interest or principal on bonds
issued to | 26 | | refund or continue to refund bonds issued after October 1, |
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| 1 | | 1991 that
were approved by referendum; (e)
made for any taxing | 2 | | district to pay interest
or principal on revenue bonds issued | 3 | | before October 1, 1991 for payment of
which a property tax levy | 4 | | or the full faith and credit of the unit of local
government is | 5 | | pledged; however, a tax for the payment of interest or | 6 | | principal
on those bonds shall be made only after the | 7 | | governing body of the unit of local
government finds that all | 8 | | other sources for payment are insufficient to make
those | 9 | | payments; (f) made for payments under a building commission | 10 | | lease when
the lease payments are for the retirement of bonds | 11 | | issued by the commission
before October 1, 1991, to pay for the | 12 | | building project; (g) made for payments
due under installment | 13 | | contracts entered into before October 1, 1991;
(h) made for | 14 | | payments of principal and interest on bonds issued under the
| 15 | | Metropolitan Water Reclamation District Act to finance | 16 | | construction projects
initiated before October 1, 1991; (i) | 17 | | made for payments of principal and
interest on limited bonds, | 18 | | as defined in Section 3 of the Local Government Debt
Reform | 19 | | Act, in an amount not to exceed the debt service extension base | 20 | | less
the amount in items (b), (c), (e), and (h) of this | 21 | | definition for
non-referendum obligations, except obligations | 22 | | initially issued pursuant to
referendum; (j) made for payments | 23 | | of principal and interest on bonds
issued under Section 15 of | 24 | | the Local Government Debt Reform Act; (k)
made
by a school | 25 | | district that participates in the Special Education District | 26 | | of
Lake County, created by special education joint agreement |
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| 1 | | under Section
10-22.31 of the School Code, for payment of the | 2 | | school district's share of the
amounts required to be | 3 | | contributed by the Special Education District of Lake
County | 4 | | to the Illinois Municipal Retirement Fund under Article 7 of | 5 | | the
Illinois Pension Code; the amount of any extension under | 6 | | this item (k) shall be
certified by the school district to the | 7 | | county clerk; (l) made to fund
expenses of providing joint | 8 | | recreational programs for persons with disabilities under
| 9 | | Section 5-8 of
the
Park District Code or Section 11-95-14 of | 10 | | the Illinois Municipal Code; (m) made for temporary relocation | 11 | | loan repayment purposes pursuant to Sections 2-3.77 and | 12 | | 17-2.2d of the School Code; (n) made for payment of principal | 13 | | and interest on any bonds issued under the authority of | 14 | | Section 17-2.2d of the School Code; (o) made for contributions | 15 | | to a 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 (p) made for road purposes in the first year after a | 19 | | township assumes the rights, powers, duties, assets, property, | 20 | | liabilities, obligations, and
responsibilities of a road | 21 | | district abolished under the provisions of Section 6-133 of | 22 | | the Illinois Highway Code.
| 23 | | "Aggregate extension" for the taxing districts to which | 24 | | this Law did not
apply before the 1995 levy year (except taxing | 25 | | districts subject to this Law
in
accordance with Section | 26 | | 18-213) means the annual corporate extension for the
taxing |
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| 1 | | district and those special purpose extensions that are made | 2 | | annually for
the taxing district, excluding special purpose | 3 | | extensions: (a) made for the
taxing district to pay interest | 4 | | or principal on general obligation bonds that
were approved by | 5 | | referendum; (b) made for any taxing district to pay interest
| 6 | | or principal on general obligation bonds issued before March | 7 | | 1, 1995; (c) made
for any taxing district to pay interest or | 8 | | principal on bonds issued to refund
or continue to refund | 9 | | those bonds issued before March 1, 1995; (d) made for any
| 10 | | taxing district to pay interest or principal on bonds issued | 11 | | to refund or
continue to refund bonds issued after March 1, | 12 | | 1995 that were approved by
referendum; (e) made for any taxing | 13 | | district to pay interest or principal on
revenue bonds issued | 14 | | before March 1, 1995 for payment of which a property tax
levy | 15 | | or the full faith and credit of the unit of local government is | 16 | | pledged;
however, a tax for the payment of interest or | 17 | | principal on those bonds shall be
made only after the | 18 | | governing body of the unit of local government finds that
all | 19 | | other sources for payment are insufficient to make those | 20 | | payments; (f) made
for payments under a building commission | 21 | | lease when the lease payments are for
the retirement of bonds | 22 | | issued by the commission before March 1, 1995 to
pay for the | 23 | | building project; (g) made for payments due under installment
| 24 | | contracts entered into before March 1, 1995; (h) made for | 25 | | payments of
principal and interest on bonds issued under the | 26 | | Metropolitan Water Reclamation
District Act to finance |
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| 1 | | construction projects initiated before October 1,
1991; (h-4) | 2 | | made for stormwater management purposes by the Metropolitan | 3 | | Water Reclamation District of Greater Chicago under Section 12 | 4 | | of the Metropolitan Water Reclamation District Act ; (h-8) made | 5 | | for payments of principal and interest on bonds issued under | 6 | | Section 9.6a of the Metropolitan Water Reclamation District | 7 | | Act to make contributions to the pension fund established | 8 | | under Article 13 of the Illinois Pension Code ; (i) made for | 9 | | payments of principal and interest on limited bonds,
as | 10 | | defined in Section 3 of the Local Government Debt Reform Act, | 11 | | in an amount
not to exceed the debt service extension base less | 12 | | the amount in items (b),
(c), and (e) of this definition for | 13 | | non-referendum obligations, except
obligations initially | 14 | | issued pursuant to referendum and bonds described in
| 15 | | subsections subsection (h) and (h-8) of this definition; (j) | 16 | | made for payments of
principal and interest on bonds issued | 17 | | under Section 15 of the Local Government
Debt Reform Act; (k) | 18 | | made for payments of principal and interest on bonds
| 19 | | authorized by Public Act 88-503 and issued under Section 20a | 20 | | of the Chicago
Park District Act for aquarium or
museum | 21 | | projects and bonds issued under Section 20a of the Chicago | 22 | | Park District Act for the purpose of making contributions to | 23 | | the pension fund established under Article 12 of the Illinois | 24 | | Pension Code; (l) made for payments of principal and interest | 25 | | on
bonds
authorized by Public Act 87-1191 or 93-601 and (i) | 26 | | issued pursuant to Section 21.2 of the Cook County Forest
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| 1 | | Preserve District Act, (ii) issued under Section 42 of the | 2 | | Cook County
Forest Preserve District Act for zoological park | 3 | | projects, or (iii) issued
under Section 44.1 of the Cook | 4 | | County Forest Preserve District Act for
botanical gardens | 5 | | projects; (m) made
pursuant
to Section 34-53.5 of the School | 6 | | Code, whether levied annually or not;
(n) made to fund | 7 | | expenses of providing joint recreational programs for persons | 8 | | with disabilities under Section 5-8 of the Park
District Code | 9 | | or Section 11-95-14 of the Illinois Municipal Code;
(o) made | 10 | | by the
Chicago Park
District for recreational programs for | 11 | | persons with disabilities under subsection (c) of
Section
7.06 | 12 | | of the Chicago Park District Act; (p) made for contributions | 13 | | to a firefighter's pension fund created under Article 4 of the | 14 | | Illinois Pension Code, to the extent of the amount certified | 15 | | under item (5) of Section 4-134 of the Illinois Pension Code; | 16 | | (q) made by Ford Heights School District 169 under Section | 17 | | 17-9.02 of the School Code; and (r) made for the purpose of | 18 | | making employer contributions to the Public School Teachers' | 19 | | Pension and Retirement Fund of Chicago under Section 34-53 of | 20 | | the School Code.
| 21 | | "Aggregate extension" for all taxing districts to which | 22 | | this Law applies in
accordance with Section 18-213, except for | 23 | | those taxing districts subject to
paragraph (2) of subsection | 24 | | (e) of Section 18-213, means the annual corporate
extension | 25 | | for the
taxing district and those special purpose extensions | 26 | | that are made annually for
the taxing district, excluding |
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| 1 | | special purpose extensions: (a) made for the
taxing district | 2 | | to pay interest or principal on general obligation bonds that
| 3 | | were approved by referendum; (b) made for any taxing district | 4 | | to pay interest
or principal on general obligation bonds | 5 | | issued before the date on which the
referendum making this
Law | 6 | | applicable to the taxing district is held; (c) made
for any | 7 | | taxing district to pay interest or principal on bonds issued | 8 | | to refund
or continue to refund those bonds issued before the | 9 | | date on which the
referendum making this Law
applicable to the | 10 | | taxing district is held;
(d) made for any
taxing district to | 11 | | pay interest or principal on bonds issued to refund or
| 12 | | continue to refund bonds issued after the date on which the | 13 | | referendum making
this Law
applicable to the taxing district | 14 | | is held if the bonds were approved by
referendum after the date | 15 | | on which the referendum making this Law
applicable to the | 16 | | taxing district is held; (e) made for any
taxing district to | 17 | | pay interest or principal on
revenue bonds issued before the | 18 | | date on which the referendum making this Law
applicable to the
| 19 | | taxing district is held for payment of which a property tax
| 20 | | levy or the full faith and credit of the unit of local | 21 | | government is pledged;
however, a tax for the payment of | 22 | | interest or principal on those bonds shall be
made only after | 23 | | the governing body of the unit of local government finds that
| 24 | | all other sources for payment are insufficient to make those | 25 | | payments; (f) made
for payments under a building commission | 26 | | lease when the lease payments are for
the retirement of bonds |
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| 1 | | issued by the commission before the date on which the
| 2 | | referendum making this
Law applicable to the taxing district | 3 | | is held to
pay for the building project; (g) made for payments | 4 | | due under installment
contracts entered into before the date | 5 | | on which the referendum making this Law
applicable to
the | 6 | | taxing district is held;
(h) made for payments
of principal | 7 | | and interest on limited bonds,
as defined in Section 3 of the | 8 | | Local Government Debt Reform Act, in an amount
not to exceed | 9 | | the debt service extension base less the amount in items (b),
| 10 | | (c), and (e) of this definition for non-referendum | 11 | | obligations, except
obligations initially issued pursuant to | 12 | | referendum; (i) made for payments
of
principal and interest on | 13 | | bonds issued under Section 15 of the Local Government
Debt | 14 | | Reform Act;
(j)
made for a qualified airport authority to pay | 15 | | interest or principal on
general obligation bonds issued for | 16 | | the purpose of paying obligations due
under, or financing | 17 | | airport facilities required to be acquired, constructed,
| 18 | | installed or equipped pursuant to, contracts entered into | 19 | | before March
1, 1996 (but not including any amendments to such | 20 | | a contract taking effect on
or after that date); (k) made to | 21 | | fund expenses of providing joint
recreational programs for | 22 | | persons with disabilities under Section 5-8 of
the
Park | 23 | | District Code or Section 11-95-14 of the Illinois Municipal | 24 | | Code; (l) made for contributions to a firefighter's pension | 25 | | fund created under Article 4 of the Illinois Pension Code, to | 26 | | the extent of the amount certified under item (5) of Section |
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| 1 | | 4-134 of the Illinois Pension Code; and (m) made for the taxing | 2 | | district to pay interest or principal on general obligation | 3 | | bonds issued pursuant to Section 19-3.10 of the School Code.
| 4 | | "Aggregate extension" for all taxing districts to which | 5 | | this Law applies in
accordance with paragraph (2) of | 6 | | subsection (e) of Section 18-213 means the
annual corporate | 7 | | extension for the
taxing district and those special purpose | 8 | | extensions that are made annually for
the taxing district, | 9 | | excluding special purpose extensions: (a) made for the
taxing | 10 | | district to pay interest or principal on general obligation | 11 | | bonds that
were approved by referendum; (b) made for any | 12 | | taxing district to pay interest
or principal on general | 13 | | obligation bonds issued before March 7, 1997 (the effective | 14 | | date of Public Act 89-718);
(c) made
for any taxing district to | 15 | | pay interest or principal on bonds issued to refund
or | 16 | | continue to refund those bonds issued before March 7, 1997 | 17 | | (the effective date
of Public Act 89-718);
(d) made for any
| 18 | | taxing district to pay interest or principal on bonds issued | 19 | | to refund or
continue to refund bonds issued after March 7, | 20 | | 1997 (the effective date of Public Act 89-718) if the bonds | 21 | | were approved by referendum after March 7, 1997 (the effective | 22 | | date of Public Act 89-718);
(e) made for any
taxing district to | 23 | | pay interest or principal on
revenue bonds issued before March | 24 | | 7, 1997 (the effective date of Public Act 89-718)
for payment | 25 | | of which a property tax
levy or the full faith and credit of | 26 | | the unit of local government is pledged;
however, a tax for the |
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| 1 | | payment of interest or principal on those bonds shall be
made | 2 | | only after the governing body of the unit of local government | 3 | | finds that
all other sources for payment are insufficient to | 4 | | make those payments; (f) made
for payments under a building | 5 | | commission lease when the lease payments are for
the | 6 | | retirement of bonds issued by the commission before March 7, | 7 | | 1997 (the effective date
of Public Act 89-718)
to
pay for the | 8 | | building project; (g) made for payments due under installment
| 9 | | contracts entered into before March 7, 1997 (the effective | 10 | | date of Public Act 89-718);
(h) made for payments
of principal | 11 | | and interest on limited bonds,
as defined in Section 3 of the | 12 | | Local Government Debt Reform Act, in an amount
not to exceed | 13 | | the debt service extension base less the amount in items (b),
| 14 | | (c), and (e) of this definition for non-referendum | 15 | | obligations, except
obligations initially issued pursuant to | 16 | | referendum; (i) made for payments
of
principal and interest on | 17 | | bonds issued under Section 15 of the Local Government
Debt | 18 | | Reform Act;
(j)
made for a qualified airport authority to pay | 19 | | interest or principal on
general obligation bonds issued for | 20 | | the purpose of paying obligations due
under, or financing | 21 | | airport facilities required to be acquired, constructed,
| 22 | | installed or equipped pursuant to, contracts entered into | 23 | | before March
1, 1996 (but not including any amendments to such | 24 | | a contract taking effect on
or after that date); (k) made to | 25 | | fund expenses of providing joint
recreational programs for | 26 | | persons with disabilities under Section 5-8 of
the
Park |
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| 1 | | District Code or Section 11-95-14 of the Illinois Municipal | 2 | | Code; and (l) made for contributions to a firefighter's | 3 | | pension fund created under Article 4 of the Illinois Pension | 4 | | Code, to the extent of the amount certified under item (5) of | 5 | | Section 4-134 of the Illinois Pension Code.
| 6 | | "Debt service extension base" means an amount equal to | 7 | | that portion of the
extension for a taxing district for the | 8 | | 1994 levy year, or for those taxing
districts subject to this | 9 | | Law in accordance with Section 18-213, except for
those | 10 | | subject to paragraph (2) of subsection (e) of Section 18-213, | 11 | | for the
levy
year in which the referendum making this Law | 12 | | applicable to the taxing district
is held, or for those taxing | 13 | | districts subject to this Law in accordance with
paragraph (2) | 14 | | of subsection (e) of Section 18-213 for the 1996 levy year,
| 15 | | constituting an
extension for payment of principal and | 16 | | interest on bonds issued by the taxing
district without | 17 | | referendum, but not including excluded non-referendum bonds. | 18 | | For park districts (i) that were first
subject to this Law in | 19 | | 1991 or 1995 and (ii) whose extension for the 1994 levy
year | 20 | | for the payment of principal and interest on bonds issued by | 21 | | the park
district without referendum (but not including | 22 | | excluded non-referendum bonds)
was less than 51% of the amount | 23 | | for the 1991 levy year constituting an
extension for payment | 24 | | of principal and interest on bonds issued by the park
district | 25 | | without referendum (but not including excluded non-referendum | 26 | | bonds),
"debt service extension base" means an amount equal to |
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| 1 | | that portion of the
extension for the 1991 levy year | 2 | | constituting an extension for payment of
principal and | 3 | | interest on bonds issued by the park district without | 4 | | referendum
(but not including excluded non-referendum bonds). | 5 | | A debt service extension base established or increased at any | 6 | | time pursuant to any provision of this Law, except Section | 7 | | 18-212, shall be increased each year commencing with the later | 8 | | of (i) the 2009 levy year or (ii) the first levy year in which | 9 | | this Law becomes applicable to the taxing district, by the | 10 | | lesser of 5% or the percentage increase in the Consumer Price | 11 | | Index during the 12-month calendar year preceding the levy | 12 | | year. The debt service extension
base may be established or | 13 | | increased as provided under Section 18-212.
"Excluded | 14 | | non-referendum bonds" means (i) bonds authorized by Public
Act | 15 | | 88-503 and issued under Section 20a of the Chicago Park | 16 | | District Act for
aquarium and museum projects; (ii) bonds | 17 | | issued under Section 15 of the
Local Government Debt Reform | 18 | | Act; or (iii) refunding obligations issued
to refund or to | 19 | | continue to refund obligations initially issued pursuant to
| 20 | | referendum.
| 21 | | "Special purpose extensions" include, but are not limited | 22 | | to, extensions
for levies made on an annual basis for | 23 | | unemployment and workers'
compensation, self-insurance, | 24 | | contributions to pension plans, and extensions
made pursuant | 25 | | to Section 6-601 of the Illinois Highway Code for a road
| 26 | | district's permanent road fund whether levied annually or not. |
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| 1 | | The
extension for a special service area is not included in the
| 2 | | aggregate extension.
| 3 | | "Aggregate extension base" means the taxing district's | 4 | | last preceding
aggregate extension as adjusted under Sections | 5 | | 18-135, 18-215,
18-230, 18-206, and 18-233.
An adjustment | 6 | | under Section 18-135 shall be made for the 2007 levy year and | 7 | | all subsequent levy years whenever one or more counties within | 8 | | which a taxing district is located (i) used estimated | 9 | | valuations or rates when extending taxes in the taxing | 10 | | district for the last preceding levy year that resulted in the | 11 | | over or under extension of taxes, or (ii) increased or | 12 | | decreased the tax extension for the last preceding levy year | 13 | | as required by Section 18-135(c). Whenever an adjustment is | 14 | | required under Section 18-135, the aggregate extension base of | 15 | | the taxing district shall be equal to the amount that the | 16 | | aggregate extension of the taxing district would have been for | 17 | | the last preceding levy year if either or both (i) actual, | 18 | | rather than estimated, valuations or rates had been used to | 19 | | calculate the extension of taxes for the last levy year, or | 20 | | (ii) the tax extension for the last preceding levy year had not | 21 | | been adjusted as required by subsection (c) of Section 18-135.
| 22 | | Notwithstanding any other provision of law, for levy year | 23 | | 2012, the aggregate extension base for West Northfield School | 24 | | District No. 31 in Cook County shall be $12,654,592. | 25 | | Notwithstanding any other provision of law, for levy year | 26 | | 2022, the aggregate extension base of a home equity assurance |
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| 1 | | program that levied at least $1,000,000 in property taxes in | 2 | | levy year 2019 or 2020 under the Home Equity Assurance Act | 3 | | shall be the amount that the program's aggregate extension | 4 | | base for levy year 2021 would have been if the program had | 5 | | levied a property tax for levy year 2021. | 6 | | "Levy year" has the same meaning as "year" under Section
| 7 | | 1-155.
| 8 | | "New property" means (i) the assessed value, after final | 9 | | board of review or
board of appeals action, of new | 10 | | improvements or additions to existing
improvements on any | 11 | | parcel of real property that increase the assessed value of
| 12 | | that real property during the levy year multiplied by the | 13 | | equalization factor
issued by the Department under Section | 14 | | 17-30, (ii) the assessed value, after
final board of review or | 15 | | board of appeals action, of real property not exempt
from real | 16 | | estate taxation, which real property was exempt from real | 17 | | estate
taxation for any portion of the immediately preceding | 18 | | levy year, multiplied by
the equalization factor issued by the | 19 | | Department under Section 17-30, including the assessed value, | 20 | | upon final stabilization of occupancy after new construction | 21 | | is complete, of any real property located within the | 22 | | boundaries of an otherwise or previously exempt military | 23 | | reservation that is intended for residential use and owned by | 24 | | or leased to a private corporation or other entity,
(iii) in | 25 | | counties that classify in accordance with Section 4 of Article
| 26 | | IX of the
Illinois Constitution, an incentive property's |
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| 1 | | additional assessed value
resulting from a
scheduled increase | 2 | | in the level of assessment as applied to the first year
final | 3 | | board of
review market value, and (iv) any increase in | 4 | | assessed value due to oil or gas production from an oil or gas | 5 | | well required to be permitted under the Hydraulic Fracturing | 6 | | Regulatory Act that was not produced in or accounted for | 7 | | during the previous levy year.
In addition, the county clerk | 8 | | in a county containing a population of
3,000,000 or more shall | 9 | | include in the 1997
recovered tax increment value for any | 10 | | school district, any recovered tax
increment value that was | 11 | | applicable to the 1995 tax year calculations.
| 12 | | "Qualified airport authority" means an airport authority | 13 | | organized under
the Airport Authorities Act and located in a | 14 | | county bordering on the State of
Wisconsin and having a | 15 | | population in excess of 200,000 and not greater than
500,000.
| 16 | | "Recovered tax increment value" means, except as otherwise | 17 | | provided in this
paragraph, the amount of the current year's | 18 | | equalized assessed value, in the
first year after a | 19 | | municipality terminates
the designation of an area as a | 20 | | redevelopment project area previously
established under the | 21 | | Tax Increment Allocation Redevelopment Act in the Illinois
| 22 | | Municipal Code, previously established under the Industrial | 23 | | Jobs Recovery Law
in the Illinois Municipal Code, previously | 24 | | established under the Economic Development Project Area Tax | 25 | | Increment Act of 1995, or previously established under the | 26 | | Economic
Development Area Tax Increment Allocation Act, of |
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| 1 | | each taxable lot, block,
tract, or parcel of real property in | 2 | | the redevelopment project area over and
above the initial | 3 | | equalized assessed value of each property in the
redevelopment | 4 | | project area.
For the taxes which are extended for the 1997 | 5 | | levy year, the recovered tax
increment value for a non-home | 6 | | rule taxing district that first became subject
to this Law for | 7 | | the 1995 levy year because a majority of its 1994 equalized
| 8 | | assessed value was in an affected county or counties shall be | 9 | | increased if a
municipality terminated the designation of an | 10 | | area in 1993 as a redevelopment
project area previously | 11 | | established under the Tax Increment Allocation Redevelopment
| 12 | | Act in the Illinois Municipal Code, previously established | 13 | | under
the Industrial Jobs Recovery Law in the Illinois | 14 | | Municipal Code, or previously
established under the Economic | 15 | | Development Area Tax Increment Allocation Act,
by an amount | 16 | | equal to the 1994 equalized assessed value of each taxable | 17 | | lot,
block, tract, or parcel of real property in the | 18 | | redevelopment project area over
and above the initial | 19 | | equalized assessed value of each property in the
redevelopment | 20 | | project area.
In the first year after a municipality
removes a | 21 | | taxable lot, block, tract, or parcel of real property from a
| 22 | | redevelopment project area established under the Tax Increment | 23 | | Allocation Redevelopment
Act in the Illinois
Municipal Code, | 24 | | the Industrial Jobs Recovery Law
in the Illinois Municipal | 25 | | Code, or the Economic
Development Area Tax Increment | 26 | | Allocation Act, "recovered tax increment value"
means the |
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| 1 | | amount of the current year's equalized assessed value of each | 2 | | taxable
lot, block, tract, or parcel of real property removed | 3 | | from the redevelopment
project area over and above the initial | 4 | | equalized assessed value of that real
property before removal | 5 | | from the redevelopment project area.
| 6 | | Except as otherwise provided in this Section, "limiting | 7 | | rate" means a
fraction the numerator of which is the last
| 8 | | preceding aggregate extension base times an amount equal to | 9 | | one plus the
extension limitation defined in this Section and | 10 | | the denominator of which
is the current year's equalized | 11 | | assessed value of all real property in the
territory under the | 12 | | jurisdiction of the taxing district during the prior
levy | 13 | | year. For those taxing districts that reduced their aggregate
| 14 | | extension for the last preceding levy year, except for school | 15 | | districts that reduced their extension for educational | 16 | | purposes pursuant to Section 18-206, the highest aggregate | 17 | | extension
in any of the last 3 preceding levy years shall be | 18 | | used for the purpose of
computing the limiting rate. The | 19 | | 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 | | In the case of a taxing district that obtained referendum | 5 | | approval for an increased limiting rate on March 20, 2012, the | 6 | | limiting rate for tax year 2012 shall be the rate that | 7 | | generates the approximate total amount of taxes extendable for | 8 | | that tax year, as set forth in the proposition approved by the | 9 | | voters; this rate shall be the final rate applied by the county | 10 | | clerk for the aggregate of all capped funds of the district for | 11 | | tax year 2012.
| 12 | | (Source: P.A. 102-263, eff. 8-6-21; 102-311, eff. 8-6-21; | 13 | | 102-519, eff. 8-20-21; 102-558, eff. 8-20-21; revised | 14 | | 10-5-21.)
| 15 | | Section 10. The Illinois Pension Code is amended by | 16 | | changing Section 13-503 as follows:
| 17 | | (40 ILCS 5/13-503) (from Ch. 108 1/2, par. 13-503)
| 18 | | Sec. 13-503. Tax levy. Until fiscal year 2013, the Water | 19 | | Reclamation District shall annually
levy a tax upon all the | 20 | | taxable real property within the District at a rate
which, | 21 | | when extended, will produce a sum that (i) when added to the | 22 | | amounts
deducted from the salaries of employees, interest | 23 | | income on investments, and
other income, will be sufficient to | 24 | | meet the requirements of the Fund on an
actuarially funded |
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| 1 | | basis, but (ii) shall not exceed an amount equal to the
total | 2 | | amount of contributions by the employees to the Fund made in | 3 | | the
calendar year 2 years prior to the year for which the tax | 4 | | is levied,
multiplied by 2.19, except that the amount of | 5 | | employee contributions made on
or after January 1, 2003 | 6 | | towards the purchase of additional optional benefits
under | 7 | | Section 13-304.1 shall only be multiplied by 1.00. | 8 | | Beginning in fiscal year 2013, the District shall annually
| 9 | | levy a tax upon all the taxable real property within the | 10 | | District at a rate
which, when extended, will produce a sum | 11 | | that (i) will be sufficient to meet the Fund's actuarially | 12 | | determined contribution requirement, but (ii) shall not exceed | 13 | | an amount equal to the total employee contributions 2 years | 14 | | prior multiplied by 4.19. The actuarially determined | 15 | | contribution requirement is equal to the employer's normal | 16 | | cost plus the annual amount needed to amortize the unfunded | 17 | | liability by the year 2050 as a level percent of payroll. The | 18 | | funding goal is to attain a funded ratio of 100% at least 90% | 19 | | by the year 2050, with the funded ratio being the ratio of the | 20 | | actuarial value of assets to the total actuarial liability. | 21 | | The tax shall be
levied and collected in the same manner as | 22 | | the general taxes of the District.
| 23 | | The tax shall be exclusive of and in addition to the amount | 24 | | of tax the
District is now or may hereafter be authorized to | 25 | | levy for general purposes
under the Metropolitan Water | 26 | | Reclamation District Act or under any other
laws which may |
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| 1 | | limit the amount of tax for general purposes. The county
clerk | 2 | | of any county, in reducing tax levies as may be authorized by | 3 | | law,
shall not consider any such tax as a part of the general | 4 | | tax levy for
District purposes, and shall not include the same | 5 | | in any limitation of the
percent of the assessed valuation | 6 | | upon which taxes are required to be extended.
| 7 | | Revenues derived from the tax shall be paid to the Fund for | 8 | | the benefit
of the Fund , except for the amount of revenue to be | 9 | | retained by the District and used to pay principal and | 10 | | interest on bonds issued for the sole purpose of making | 11 | | contributions to the Fund as set forth in Section 9.6a of the | 12 | | Metropolitan Water Reclamation District Act .
| 13 | | If the funds available for the purposes of this Article | 14 | | are insufficient
during any year to meet the requirements of | 15 | | this Article, the District may
issue tax anticipation warrants | 16 | | or notes, as provided by law, against the
current tax levy.
| 17 | | The Board shall submit annually to the Board of | 18 | | Commissioners of the
District an estimate of the amount | 19 | | required to be raised by taxation for
the purposes of the Fund. | 20 | | The Board of Commissioners shall review the
estimate and | 21 | | determine the tax to be levied for such purposes.
| 22 | | (Source: P.A. 97-894, eff. 8-3-12.)
| 23 | | Section 15. The Metropolitan Water Reclamation District | 24 | | Act is amended by changing Section 9.6a as follows:
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| 1 | | (70 ILCS 2605/9.6a) (from Ch. 42, par. 328.6a)
| 2 | | Sec. 9.6a. Bonds for sewage treatment and water quality | 3 | | improvements. The corporate authorities of a sanitary | 4 | | district, in
order to provide funds required for the | 5 | | replacing, remodeling,
completing, altering, constructing and | 6 | | enlarging of sewage treatment
works, administrative buildings, | 7 | | water quality improvement projects, or flood control | 8 | | facilities, and additions therefor, pumping
stations, tunnels, | 9 | | conduits, intercepting sewers and outlet sewers,
together with | 10 | | the equipment, including air pollution equipment, and
| 11 | | appurtenances thereto, to acquire property, real, personal or | 12 | | mixed,
necessary for said purposes, for costs and expenses for | 13 | | the acquisition
of the sites and rights-of-way necessary | 14 | | thereto, and for engineering
expenses for designing and | 15 | | supervising the construction of such works,
may issue on or | 16 | | before December 31, 2034, in addition to all
other obligations | 17 | | heretofore or herein authorized, bonds, notes or
other | 18 | | evidences of indebtedness for such purposes in an aggregate
| 19 | | amount at any one time outstanding not to exceed 3.35% of the | 20 | | equalized
assessed valuation of all taxable property within | 21 | | the sanitary district,
to be ascertained by the last | 22 | | assessment for State and local taxes
previous to the issuance | 23 | | of any such obligations. Such obligations shall be
issued | 24 | | without submitting the question of such issuance to the legal | 25 | | voters
of such sanitary district for approval.
| 26 | | The corporate authorities may sell such obligations at |
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| 1 | | private or
public sale and enter into any contract or | 2 | | agreement necessary, appropriate
or incidental to the exercise | 3 | | of the powers granted by this Act, including,
without | 4 | | limitation, contracts or agreements for the sale and purchase | 5 | | of
such obligations and the payment of costs and expenses | 6 | | incident thereto.
The corporate authorities may pay such costs | 7 | | and expenses, in whole or in
part, from the corporate fund.
| 8 | | Such obligations shall be issued from time to time only in | 9 | | amounts as may
be required for such purposes but the amount of | 10 | | such obligations issued during
any one budget year shall not | 11 | | exceed $150,000,000 plus
the amount of any obligations | 12 | | authorized by this Act to be issued during the 3
budget years | 13 | | next preceding the year of issuance but which were not issued,
| 14 | | provided, however, that this limitation shall not be | 15 | | applicable (i) to the issuance
of obligations to refund bonds, | 16 | | notes or other evidences of indebtedness,
(ii) to obligations | 17 | | issued to provide for the repayment of money received
from the | 18 | | Water Pollution Control Revolving Fund for the construction or
| 19 | | repair of wastewater treatment works, and (iii) to obligations | 20 | | issued as part of the American Recovery and Reinvestment Act | 21 | | of 2009, issued prior to January 1, 2011, that are commonly | 22 | | known as "Build America Bonds" as authorized by Section 54AA | 23 | | of the Internal Revenue Code of 1986, as amended. Each | 24 | | ordinance authorizing the
issuance of the obligations shall | 25 | | state the general purpose or purposes for
which they are to be | 26 | | issued, and the corporate authorities may at any time
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| 1 | | thereafter pass supplemental appropriations ordinances | 2 | | appropriating the
proceeds from the sale of such obligations | 3 | | for such purposes.
| 4 | | Notwithstanding anything to the contrary in Section 9.6 or | 5 | | this Section, and in addition to any other amount of bonds | 6 | | authorized to be issued under this Act, the corporate | 7 | | authorities are authorized to issue from time to time bonds of | 8 | | the district in a principal amount not to exceed $600,000,000 | 9 | | for the purpose of making contributions to the pension fund | 10 | | established under Article 13 of the Illinois Pension Code | 11 | | without submitting the question of issuing bonds to the voters | 12 | | of the District. Any bond issuances under this paragraph are | 13 | | intended to decrease the unfunded liability of the pension | 14 | | fund and shall not decrease the amount of the employer | 15 | | contributions required in any given year under Section 13-503 | 16 | | of the Illinois Pension Code. | 17 | | The corporate authorities may issue bonds, notes or other | 18 | | evidences of
indebtedness in an amount necessary to provide | 19 | | funds to refund outstanding
obligations issued pursuant to | 20 | | this Section, including interest accrued or
to accrue thereon.
| 21 | | (Source: P.A. 101-302, eff. 1-1-20 .)
| 22 | | Section 90. The State Mandates Act is amended by adding | 23 | | Section 8.46 as follows: | 24 | | (30 ILCS 805/8.46 new) |
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| 1 | | Sec. 8.46. Exempt mandate. Notwithstanding Sections 6 and | 2 | | 8 of this Act, no reimbursement by the State is required for | 3 | | the implementation of any mandate created by this amendatory | 4 | | Act of the 102nd General Assembly.
| 5 | | Section 99. Effective date. This Act takes effect upon | 6 | | becoming law.
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