Full Text of SB2171 97th General Assembly
SB2171sam001 97TH GENERAL ASSEMBLY | Sen. James F. Clayborne, Jr. Filed: 3/9/2011
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| 1 | | AMENDMENT TO SENATE BILL 2171
| 2 | | AMENDMENT NO. ______. Amend Senate Bill 2171 by replacing | 3 | | everything after the enacting clause with the following:
| 4 | | "Section 5. The Property Tax Code is amended by changing | 5 | | Section 15-185 as follows:
| 6 | | (35 ILCS 200/15-185)
| 7 | | Sec. 15-185. Exemption for leaseback property and | 8 | | qualified leased property.
| 9 | | (a) Notwithstanding anything in this Code to
the
contrary, | 10 | | all property owned by a municipality with a population of over
| 11 | | 500,000
inhabitants, a unit of local government whose | 12 | | jurisdiction includes
territory located in
whole or in part | 13 | | within a municipality with a population of over 500,000
| 14 | | inhabitants, or a municipality with home rule powers that is | 15 | | contiguous to a municipality with a population of over 500,000 | 16 | | inhabitants,
or property that as of December 31, 2010 is exempt |
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| 1 | | from real estate taxes and is owned by a tax-exempt entity, | 2 | | shall remain exempt from taxation and any leasehold interest in | 3 | | that property
shall not be
subject to taxation under Section | 4 | | 9-195 if
the
property is directly or indirectly leased, sold, | 5 | | or otherwise transferred to
another entity
whose property is | 6 | | not exempt and immediately thereafter is the subject of a
| 7 | | leaseback or
other agreement that directly or indirectly gives | 8 | | the lessee municipality or unit of
local
government (i) a right | 9 | | to use, control, and possess the property either directly or | 10 | | through its exempt subsidiary or affiliate or (ii) a
right for | 11 | | the municipality or unit of local government to require
the | 12 | | other entity, or the other entity's designee or assignee, to | 13 | | use the
property in the
performance of services for the | 14 | | municipality or unit of local government. Property
shall no | 15 | | longer be exempt under this subsection as of the date when the | 16 | | right of
the
lessee municipality or unit of local government to | 17 | | use, control, and possess the
property or for the municipality | 18 | | or unit of local government to
require the performance of | 19 | | services is terminated and the lessee municipality or unit
of | 20 | | local
government no longer has any option to purchase or | 21 | | otherwise reacquire the
interest in
the property to the extent | 22 | | that such an option or right of reacquisition was part of the | 23 | | lease or a provision of the original sale which was transferred | 24 | | by the municipality or unit of local
government .
| 25 | | (b) Notwithstanding anything in this Code to
the
contrary, | 26 | | all property owned by a municipality with a population of over
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| 1 | | 500,000
inhabitants, a unit of local government whose | 2 | | jurisdiction includes
territory located in
whole or in part | 3 | | within a municipality with a population of over 500,000
| 4 | | inhabitants, or a municipality with home rule powers that is | 5 | | contiguous to a municipality with a population of over 500,000 | 6 | | inhabitants,
shall remain exempt from taxation and any | 7 | | leasehold interest in that property
is not
subject to taxation | 8 | | under Section 9-195 if the property, including dedicated public | 9 | | property, is used by a municipality or other unit of local | 10 | | government for the purpose of an airport or parking or for | 11 | | waste disposal or processing and is leased for continued use | 12 | | for the same purpose to another entity whose property is not | 13 | | exempt. | 14 | | For the purposes of this subsection (b), "airport" does not | 15 | | include any airport property, as defined under Section 10 of | 16 | | the O'Hare Modernization Act. | 17 | | Any transaction described under this subsection must be | 18 | | undertaken in accordance with all appropriate federal laws and | 19 | | regulations. | 20 | | (c) For purposes of this Section, "municipality" means a | 21 | | municipality as defined
in
Section 1-1-2 of the Illinois | 22 | | Municipal Code, and "unit of local government"
means a unit
of | 23 | | local government as defined in Article VII, Section 1 of the | 24 | | Constitution of
the State of
Illinois. The provisions of this | 25 | | Section supersede and control over any
conflicting
provisions | 26 | | of this Code.
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| 1 | | (Source: P.A. 96-779, eff. 8-28-09.)
| 2 | | Section 99. Effective date. This Act takes effect upon | 3 | | becoming law.".
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