State of Illinois
92nd General Assembly
Legislation

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92_SB1307

 
                                         SDS/92Abill0015/LThs

 1        AN   ACT  to  create  the  Public  Improvement  Ownership
 2    Disclosure Act.

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

 5        Section  1.  Short  title.  This  Act may be cited as the
 6    Public Improvement Ownership Disclosure Act.

 7        Section 5. Legislative findings and purpose. The  General
 8    Assembly  finds  that  public  construction benefits property
 9    values of adjoining and  nearby  parcels  of  property.   The
10    General Assembly finds that oftentimes several locations of a
11    proposed  public  project  are advanced and affected property
12    owners should be identified to advance the principle that the
13    location of public improvements should be made on  the  basis
14    of  worthiness  and necessity rather than on the basis of who
15    will profit. The General Assembly's purpose in enacting  this
16    Act  is  to  ensure that the locations of public projects are
17    chosen on the basis of public good and not on  the  basis  of
18    private gain.

19        Section 10. Definitions. As used in this Act:
20        "Beneficial  interest",  "beneficiary",  and "land trust"
21    have the same definitions as those  set  forth  in  the  Land
22    Trust Beneficial Interest Disclosure Act.
23        "Corporation"    and   "shareholders"   have   the   same
24    definitions as those set forth in  the  Business  Corporation
25    Act of 1983.
26        "Economic benefits zone" means, in the case of a roadway,
27    that  area  within  one-half  mile  of  the  footprint of any
28    roadway creation, expansion, or extension, and, in  the  case
29    of  an  airport, that area within 2 miles of the footprint of
30    any airport creation, expansion, or extension.

 
                            -2-          SDS/92Abill0015/LThs
 1        "Footprint" means the  real  property  necessary  to  the
 2    project  that will be owned by any unit of federal, State, or
 3    local government or  that  is  reserved  for  public  use  or
 4    access.
 5        "General   partnership"   and  "partner"  have  the  same
 6    definitions as those set forth  in  the  Uniform  Partnership
 7    Act.
 8        "Limited liability company", "manager", and "member" have
 9    the  same  definitions  as  those  set  forth  in the Limited
10    Liability Company Act.
11        "Limited partnership", "general  partner",  and  "limited
12    partner"  have the same definitions as those set forth in the
13    Revised Uniform Limited Partnership Act.
14        "Public  improvement  project"  means  any  construction,
15    expansion, or extension of any roadway  or  airport  that  is
16    funded   in  whole  or  part  by  federal,  State,  or  local
17    government funding or tax abatements.

18        Section 15. Disclosure of ownership benefited  by  public
19    improvement projects.
20        (a)  Whenever  a  public  improvement project location or
21    alternative location is proposed by  any  unit  of  State  or
22    local government, the unit of State or local government shall
23    notify all persons described in paragraphs (1) through (6) of
24    subsection  (b)  within the economic benefit zone surrounding
25    the footprint of  the  proposed  public  improvement  project
26    location  or alternative location of the possibility of their
27    property becoming located within the economic  benefits  zone
28    surrounding  the  footprint  of a public improvement project.
29    This notice shall be made at  least  30  days  prior  to  the
30    expenditure  of  any  public funds or other resources for any
31    site evaluations, preliminary studies,  environmental  impact
32    statements,   engineering   proposals,  or  other  action  or
33    activity relating to the proposed public improvement project.
 
                            -3-          SDS/92Abill0015/LThs
 1        (b)  Within 10 days of the notice described in subsection
 2    (a), the persons described in paragraphs (1) through  (6)  of
 3    this  subsection  (b),  or their successors or assigns, shall
 4    disclose the names and addresses of the persons  or  entities
 5    required  to be disclosed and shall define their interests in
 6    the  property  located  within  the  economic  benefits  zone
 7    surrounding the footprint of a  public  improvement  project.
 8    Each  individual  or entity shall be disclosed, regardless of
 9    the size of the  individual  or  entity's  interest  in  that
10    property.
11             (1)  The  trustees  of  record of a land trust shall
12        disclose the owners of beneficial interests.
13             (2)  The secretary of a corporation  shall  disclose
14        the  holders  of 7.5% or more of any class or combination
15        of classes of the corporation's voting stock.
16             (3)  A manager of a limited liability company  shall
17        disclose  the  managers  of the limited liability company
18        and the members entitled to receive 7.5% or more  of  any
19        distributions made by the limited liability company.
20             (4)  A  general  partner  of  a  limited partnership
21        shall  disclose  the  general  partners  of  the  limited
22        partnership, together with the limited partners  entitled
23        to  receive 7.5% or more of any distributions made by the
24        limited partnership.
25             (5)  A limited  partner  in  a  limited  partnership
26        shall  disclose the general partners and limited partners
27        entitled to receive 7.5% or more of any distribution made
28        by the limited partnership.
29             (6)  A  partner  in  a  general  partnership   shall
30        disclose the partners entitled to receive 7.5% or more of
31        any distributions made by the general partnership.
32        The  requirements  of  this  subsection (b) apply to each
33    described person or entity that is the owner of record of any
34    real property  located  within  the  economic  benefits  zone
 
                            -4-          SDS/92Abill0015/LThs
 1    surrounding the footprint of a public improvement project.
 2        (c)  The  disclosures required in subsection (b) shall be
 3    made by  filing  an  affidavit  of  ownership  or  beneficial
 4    interest with the Recorder of Deeds in the county or counties
 5    contained  within  the economic benefits zone surrounding the
 6    footprint of the proposed public improvement project location
 7    or alternative location. It shall be the duty of  the  person
 8    required  to make the disclosure, or his or her successors or
 9    assigns, to record supplements to the affidavit of  ownership
10    or   beneficial  interest,  reflecting  any  changes  in  the
11    ownership of the ownership and beneficial interests which are
12    required to be disclosed under this Section, within  10  days
13    of the change.

14        Section 20. Exceptions. This Act does not apply to public
15    improvement  projects  with  an  estimated total construction
16    cost of less than $10,000,000.

17        Section 25. Penalty. Any person who fails to comply  with
18    the  disclosure  requirements  of  Section  15 of this Act is
19    guilty of a petty offense and subject to a fine of  not  more
20    than $1,000.

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

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