HB3892 96TH GENERAL ASSEMBLY

LRB096 09481 HLH 19638 b

96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
HB3892

Introduced 2/26/2009, by Rep. Arthur L. Turner

SYNOPSIS AS INTRODUCED:

70 ILCS 1505/19.1 new

Amends the Chicago Park District Act. Provides that the Board of Commissioners of the Chicago Park District may levy supplemental property taxes in respect of the recovered tax increment value of certain redevelopment project areas, subject to certain restrictions. Effective immediately.

FISCAL NOTE ACT MAY APPLY

HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY

A BILL FOR

AN ACT concerning revenue.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Chicago Park District Act is amended by adding Section 19.1 as follows:

(70 ILCS 1505/19.1 new)

Sec. 19.1. Supplemental tax levy. The Board of Commissioners of the Chicago Park District may levy supplemental property taxes in respect of the recovered tax increment value, as defined in the Property Tax Extension Limitation Law, of a redevelopment project area previously established under (i) the Tax Increment Allocation Development Act in the Illinois Municipal Code, (ii) the Industrial Jobs Recovery Law in the Illinois Municipal Code, (iii) the Economic Development Project Area Tax Increment Act of 1995, or (iv) the Economic Development Area Tax Increment Allocation Act. Notwithstanding the provisions of Section 19 of this Act, such supplemental tax levy may be adopted at any time during the year that the designation of such area as a redevelopment project area is terminated; provided that such supplemental levy shall not cause the aggregate amount of taxes levied to exceed the maximum rate which the Board of Commissioners of the Chicago Park District is otherwise authorized by law to levy and further provided that the extension of the taxes levied by such supplemental levy shall be determined in accordance with the requirements of the Property Tax Extension Limitation Law. The Board of Commissioners of the Chicago Park District shall cause the amount raised by any such supplemental levy to be certified to the county clerk in the manner provided by law and all taxes so levied and certified shall be collected and enforced in the same manner and by the same officers as for State and county purposes. These taxes, when collected, shall be paid over to the proper officer who is authorized to receive and receipt for the same.

Section 99. Effective date. This Act takes effect upon becoming law.