Full Text of HB0043 101st General Assembly
HB0043ham001 101ST GENERAL ASSEMBLY | Rep. Anthony DeLuca Filed: 4/9/2019
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| 1 | | AMENDMENT TO HOUSE BILL 43
| 2 | | AMENDMENT NO. ______. Amend House Bill 43 by replacing | 3 | | everything after the enacting clause with the following:
| 4 | | "Section 5. The Property Tax Code is amended by adding | 5 | | Division 21 to Article 10 as follows: | 6 | | (35 ILCS 200/Art. 10 Div. 21 heading new) | 7 | | Division 21. Southland reactivation property | 8 | | (35 ILCS 200/10-800 new) | 9 | | Sec. 10-800. Southland reactivation property. | 10 | | (a) For the purposes of this Section: | 11 | | "Base year" means the last tax year prior to the date of | 12 | | the application during which the property was occupied and | 13 | | assessed and for which taxes were collected. | 14 | | "Cook County Land Bank Authority" means the Cook County | 15 | | Land Bank Authority created by ordinance of the Cook County |
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| 1 | | Board. | 2 | | "Participating entity" means the South Suburban Land Bank | 3 | | and Development Authority, the Cook County Land Bank | 4 | | Development Authority, or both collectively. | 5 | | "Southland reactivation property" means property that: | 6 | | (1) has been designated by the municipality by | 7 | | resolution as a priority tax reactivation parcel, site, or | 8 | | property due to its long-standing economic stagnation; | 9 | | (2) is held by a participating entity; and | 10 | | (3) meets the following criteria: | 11 | | (A) the property has been acquired, and is | 12 | | currently held, by a participating entity for purposes | 13 | | of stabilizing the tax base and enhancing economic | 14 | | activities that promote sustainable, healthy, and | 15 | | stable communities that align with local government | 16 | | plans and priorities; | 17 | | (B) the property has had its past property and ad | 18 | | valorem taxes extinguished; | 19 | | (C) the property is zoned for commercial or | 20 | | industrial use; | 21 | | (D) the property is vacant land or contains empty | 22 | | non-residential property; | 23 | | (E) the property does not have a current lawful | 24 | | occupant, as attested to by a supporting affidavit; | 25 | | (F) sale or transfer of the property to a developer | 26 | | following southland reactivation designation would |
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| 1 | | result in investment that would trigger a new higher | 2 | | equalized assessed valuation; | 3 | | (G) the property is located in any of the following | 4 | | townships in Cook County: Bloom, Bremen, Calumet, | 5 | | Rich, Thornton, or Worth; | 6 | | (H) where reoccupation of abandoned property and | 7 | | subsequent substantial rehabilitation is planned, an | 8 | | application for southland reactivation designation is | 9 | | filed and a resolution passed by a municipality prior | 10 | | to the commencement of reoccupation and such | 11 | | rehabilitation; and | 12 | | (I) but for the southland reactivation | 13 | | designation, development or redevelopment would not | 14 | | occur. | 15 | | "South Suburban Land Bank and Development Authority" means | 16 | | the South Suburban Land Bank and Development Authority created | 17 | | by an intergovernmental agreement between the Cities of Blue | 18 | | Island and Oak Forest and the Village of Park Forest. | 19 | | "Tax year" means the calendar year for which assessed value | 20 | | is determined as of January 1 of that year. | 21 | | (b) Within 5 years after the effective date of this | 22 | | amendatory Act of the 101st General Assembly, purchasers of | 23 | | real property from a participating entity may submit an | 24 | | application, along with a resolution approved by the corporate | 25 | | authorities of the municipality or municipalities in which the | 26 | | property is located, to the participating entity to have the |
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| 1 | | property certified as a southland reactivation property. If the | 2 | | property meets the criteria for southland reactivation | 3 | | property set forth in subsection (a), then the participating | 4 | | entity has 5 years from the effective date of this amendatory | 5 | | Act of the 101st General Assembly within which it may certify | 6 | | the property as southland reactivation property for the | 7 | | purposes of promoting rehabilitation of vacant and | 8 | | underutilized property in order to attract and enhance economic | 9 | | activities and investment that stabilize, restore, and grow the | 10 | | tax base in severely blighted areas within Chicago's south | 11 | | suburbs. This certification is nonrenewable and shall be | 12 | | transmitted by the municipality or the participating entity on | 13 | | behalf of the municipality to the chief county assessment | 14 | | officer as soon as possible after the property is certified. | 15 | | (c) Beginning with the first tax year after the property is | 16 | | certified as southland reactivation property and continuing | 17 | | through the twelfth tax year after the property is certified as | 18 | | southland reactivation property, for the purpose of taxation | 19 | | under this Code, the property shall be valued at 33 1/3% of the | 20 | | fair cash value of the land, without regard to buildings, | 21 | | structures, improvements, and other permanent fixtures located | 22 | | on the property as established by the chief county assessment | 23 | | officer. For the first 3 tax years after the property is | 24 | | certified as southland reactivation property, the aggregate | 25 | | tax liability for the property shall be no greater than $75,000 | 26 | | per year. That aggregate tax liability, once collected, shall |
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| 1 | | be distributed to the taxing districts in which the property is | 2 | | located according to each taxing district's proportionate | 3 | | share of that aggregate liability. Beginning with the fourth | 4 | | tax year after the property is certified as southland | 5 | | reactivation property and continuing through the twelfth tax | 6 | | year after the property is certified as southland reactivation | 7 | | property, the property's tax liability for each taxing district | 8 | | in which the property is located shall be increased over the | 9 | | tax liability for the preceding year by the percentage | 10 | | increase, if any, in the total equalized assessed value of all | 11 | | property in the taxing district. In no event shall the | 12 | | purchaser's annual tax liability decrease based on the | 13 | | computation of the total equalized assessed value of all taxing | 14 | | bodies. | 15 | | (d) No later than March 1 of each year before taxes are | 16 | | extended for the prior tax year, the municipality or the | 17 | | participating entity on behalf of the municipality shall | 18 | | certify to the county clerk of the county in which the property | 19 | | is located a percentage reduction to be applied to property | 20 | | taxes to limit the aggregate tax liability on southland | 21 | | reactivation property in accordance with this Section. | 22 | | (e) The participating entity shall collect annually for the | 23 | | pilot program period information about the number of | 24 | | applicants, project location, proposed use, investment, job | 25 | | creation, and certifications of southland reactivation sites | 26 | | to allow for the evaluation and assessment of the effectiveness |
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| 1 | | of southland reactivation designation. Each participating | 2 | | entity shall annually present to its governing board all | 3 | | collected metrics related to southland reactivation sites so | 4 | | designated as of the effective date of this amendatory Act of | 5 | | the 101st General Assembly to assess outcomes and desired | 6 | | results and report findings to members of the General Assembly | 7 | | at the conclusion of the 5-year designation period. ".
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