HB4044 100TH GENERAL ASSEMBLY

LRB100 12646 AXK 25965 b

100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018
HB4044

Introduced , by Rep. Jim Durkin

SYNOPSIS AS INTRODUCED:

35 ILCS 200/24-40 new

Amends the Property Tax Code. Provides that, notwithstanding any other provision of law to the contrary, of the property taxes levied on the James R. Thompson Center, all revenue received shall be paid to Chicago public schools and not to any other unit of government. Effective immediately.

FISCAL 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 Property Tax Code is amended by adding Section 24-40 as follows:

(35 ILCS 200/24-40 new)

Sec. 24-40. James R. Thompson Center. Notwithstanding any other provision of law to the contrary, including, but not limited to, the Special Service Area Tax Law and the Tax Increment Allocation Redevelopment Act, of the property taxes levied on the real property known as the James R. Thompson Center, bounded by Lake, Clark, Randolph, and LaSalle Streets in the City of Chicago, with an address of 100 West Randolph Street, all revenue received shall be paid to Chicago public schools and not to any other unit of government.

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