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90_HB1513sam004
LRB9004723DNpkam
1 AMENDMENT TO HOUSE BILL 1513
2 AMENDMENT NO. . Amend House Bill 1513, AS AMENDED,
3 by replacing the title with the following:
4 "AN ACT to amend the Property Tax Code by changing
5 Sections 15-170 and 30-25."; and
6 in the introductory paragraph of Section 5, by replacing
7 "Section 15-170" with "Sections 15-170 and 30-25"; and
8 in Section 5, in the first sentence of Sec. 15-170, by
9 replacing "quitable" with "equitable"; and
10 in Section 5, after Sec. 15-170, by inserting the following:
11 "(35 ILCS 200/30-25)
12 Sec. 30-25. Distributions from account.
13 (a) At the direction of the corporate authorities of a
14 taxing district, the treasurer of the taxing district shall
15 disburse the amounts held in the tax reimbursement account.
16 Unless the taxing district has divided the moneys as provided
17 in subsection (b), disbursements shall be made to all of the
18 owners of taxable homestead property within the taxing
19 district. Each owner of taxable homestead property shall
20 receive a proportionate share of the total disbursement based
21 on the amount of ad valorem taxes on taxable homestead
-2- LRB9004723DNpkam
1 property paid by the owner to the taxing district under the
2 most recent tax bill.
3 (b) The corporate authorities of a taxing district may
4 direct the treasurer to divide the moneys deposited into the
5 account into 2 separate pools to be designated the homestead
6 property pool and the commercial or industrial property pool.
7 The amount to be deposited into each pool shall be determined
8 by the corporate authorities of the taxing district, except
9 that at least 50% of the moneys in the account shall be
10 deposited into the homestead property pool. The treasurer
11 shall disburse the amounts held in each pool in the tax
12 reimbursement account at the direction of the corporate
13 authorities. Disbursements from the homestead property pool
14 shall be made to all of the owners of taxable homestead
15 property within the taxing district. Each owner of taxable
16 homestead property shall receive a proportionate share of the
17 total disbursement from the pool based on the amount of ad
18 valorem taxes on taxable homestead property paid by the owner
19 to the taxing district under the most recent tax bill.
20 Disbursements from the commercial or industrial property pool
21 shall be made to all of the owners of taxable commercial or
22 industrial property, except those owners whose property is
23 located within a tax increment financing district or those
24 owners whose property is classified as an apartment building.
25 Each eligible owner of taxable commercial or industrial
26 property shall receive a proportionate share of the total
27 disbursement from the pool based on the amount of ad valorem
28 taxes on taxable commercial or industrial property paid by
29 the owner to the taxing district under the most recent tax
30 bill.
31 (c) In determining the proportionate share of each owner
32 of homestead property, the numerator shall be the amount of
33 taxes on homestead property paid by that owner to the taxing
34 district under the most recent tax bill, and the denominator
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1 shall be the aggregate total of all taxes on homestead
2 property paid by all owners to the taxing district under the
3 most recent tax bills.
4 (d) In determining the proportionate share of each owner
5 of commercial or industrial property, the numerator shall be
6 the amount of taxes on commercial or industrial property paid
7 by that owner to the taxing district under the most recent
8 tax bill, and the denominator shall be the aggregate total of
9 all taxes on commercial or industrial property paid by all
10 owners to the taxing district under the most recent tax bills
11 less taxes paid on commercial or industrial property located
12 in a tax increment financing district and taxes paid on an
13 apartment building.
14 (Source: P.A. 87-737; 87-767; 88-455.)".