96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
HB3591

 

Introduced 2/24/2009, by Rep. Tom Cross - Dennis M. Reboletti

 

SYNOPSIS AS INTRODUCED:
 
620 ILCS 65/21

    Amends the O'Hare Modernization Act. Makes a technical change in a Section regarding reimbursement for tax base losses.


LRB096 10473 AJT 20645 b

 

 

A BILL FOR

 

HB3591 LRB096 10473 AJT 20645 b

1     AN ACT concerning transportation.
 
2     Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
 
4     Section 5. The O'Hare Modernization Act is amended by
5 changing Section 21 as follows:
 
6     (620 ILCS 65/21)
7     Sec. 21. Reimbursement for tax base losses.
8     (a) Whenever the the City acquires parcels of property
9 within any school district or community college district for
10 the O'Hare Modernization Program, the City shall, for the
11 following taxable year and for each of the 5 taxable years
12 thereafter, pay to that district the amount of the total
13 property tax liability of the acquired parcels to the district
14 for the 2002 taxable year, increased or decreased each year by
15 the percentage change of the district's total tax extension for
16 the current taxable year from the total tax extension for the
17 prior taxable year; provided that no annual increase shall
18 exceed the lesser of 5% or the annual increase in the Consumer
19 Price Index. Funds payable by the City under this Section shall
20 be paid exclusively from non-tax revenues generated at airports
21 owned by the City, and shall not exceed the amount of those
22 funds that can be paid for that purpose under 49 U.S.C.
23 47107(l)(2).

 

 

HB3591 - 2 - LRB096 10473 AJT 20645 b

1     (b) Notwithstanding any other provision of this Section:
2 (i) no funds shall be payable by the City under this Section
3 with respect to any taxable year succeeding the 2009 taxable
4 year; (ii) in no event shall such funds be payable on or after
5 January 1, 2010; (iii) in no event shall the total funds paid
6 by the City pursuant to this Section to all districts for all
7 taxable years exceed $20,000,000; and (iv) any amounts payable
8 to a district by the City with respect to any parcel of
9 property for any taxable year shall be reduced by the amount of
10 taxes actually paid to the district for that taxable year with
11 respect to that parcel or any leasehold interest therein.
12     (c) Whenever the City acquires property that is subject to
13 this Section, the City shall notify the assessor of the county
14 in which the property is located. The assessor or the clerk of
15 that county shall, on an annual basis, notify the affected
16 school district or community college district of all property
17 that has been identified as being subject to this Section, and
18 shall provide the district and the City with such information
19 as may be required in determining the amounts payable by the
20 City under this Section. The City shall make payments as
21 required by this Section no later than 90 days after that
22 information is received and verified by the City.
23     (d) As used in this Section, "Consumer Price Index" means
24 the Consumer Price Index for All Urban Consumers for all items
25 published by the United States Department of Labor.
26 (Source: P.A. 93-450, eff. 8-6-03.)