Bill Text: IL HB2496 | 2013-2014 | 98th General Assembly | Introduced
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Amends the Illinois Enterprise Zone Act. Provides that a business that intends to establish a fertilizer plant at a designated location in Illinois may be designated as a high impact business. Provides that a business that intends to make a minimum investment of $500,000,000, which will be placed in service in a qualified property, and intends to create 125 full-time equivalent jobs at a designated location in Illinois may be designated as a high impact business. Amends the Property Tax Code to provide for an abatement of property taxes for property of any commercial or industrial development of at least 225 (instead of 500) acres. Effective immediately.
Spectrum: Bipartisan Bill
Status: (Failed) 2014-12-03 - Session Sine Die [HB2496 Detail]
Download: Illinois-2013-HB2496-Introduced.html
Bill Title: Amends the Illinois Enterprise Zone Act. Provides that a business that intends to establish a fertilizer plant at a designated location in Illinois may be designated as a high impact business. Provides that a business that intends to make a minimum investment of $500,000,000, which will be placed in service in a qualified property, and intends to create 125 full-time equivalent jobs at a designated location in Illinois may be designated as a high impact business. Amends the Property Tax Code to provide for an abatement of property taxes for property of any commercial or industrial development of at least 225 (instead of 500) acres. Effective immediately.
Spectrum: Bipartisan Bill
Status: (Failed) 2014-12-03 - Session Sine Die [HB2496 Detail]
Download: Illinois-2013-HB2496-Introduced.html
| |||||||||||||||||||||||||||
| |||||||||||||||||||||||||||
| |||||||||||||||||||||||||||
| |||||||||||||||||||||||||||
| |||||||||||||||||||||||||||
1 | AN ACT concerning State government.
| ||||||||||||||||||||||||||
2 | Be it enacted by the People of the State of Illinois,
| ||||||||||||||||||||||||||
3 | represented in the General Assembly:
| ||||||||||||||||||||||||||
4 | Section 5. The Illinois Enterprise Zone Act is amended by | ||||||||||||||||||||||||||
5 | changing Section 5.5 as follows:
| ||||||||||||||||||||||||||
6 | (20 ILCS 655/5.5)
(from Ch. 67 1/2, par. 609.1)
| ||||||||||||||||||||||||||
7 | Sec. 5.5. High Impact Business.
| ||||||||||||||||||||||||||
8 | (a) In order to respond to unique opportunities to assist | ||||||||||||||||||||||||||
9 | in the
encouragement, development, growth and expansion of the | ||||||||||||||||||||||||||
10 | private sector through
large scale investment and development | ||||||||||||||||||||||||||
11 | projects, the Department is authorized
to receive and approve | ||||||||||||||||||||||||||
12 | applications for the designation of "High Impact
Businesses" in | ||||||||||||||||||||||||||
13 | Illinois subject to the following conditions:
| ||||||||||||||||||||||||||
14 | (1) such applications may be submitted at any time | ||||||||||||||||||||||||||
15 | during the year;
| ||||||||||||||||||||||||||
16 | (2) such business is not located, at the time of | ||||||||||||||||||||||||||
17 | designation, in
an enterprise zone designated pursuant to | ||||||||||||||||||||||||||
18 | this Act;
| ||||||||||||||||||||||||||
19 | (3) the business intends to do one or more of the | ||||||||||||||||||||||||||
20 | following:
| ||||||||||||||||||||||||||
21 | (A) the business intends to make a minimum | ||||||||||||||||||||||||||
22 | investment of
$12,000,000 which will be placed in | ||||||||||||||||||||||||||
23 | service in qualified property and
intends to create 500 |
| |||||||
| |||||||
1 | full-time equivalent jobs at a designated location
in | ||||||
2 | Illinois , or intends to make a minimum investment of | ||||||
3 | $500,000,000, which will be placed in service in a | ||||||
4 | qualified property and intends to create 125 full-time | ||||||
5 | equivalent jobs at a designated location in Illinois, | ||||||
6 | or intends to make a minimum investment of $30,000,000 | ||||||
7 | which
will be placed in service in qualified property | ||||||
8 | and intends to retain 1,500
full-time retained jobs at | ||||||
9 | a designated location in Illinois.
The business must | ||||||
10 | certify in writing that the investments would not be
| ||||||
11 | placed in service in qualified property and the job | ||||||
12 | creation or job
retention would not occur without the | ||||||
13 | tax credits and exemptions set forth
in subsection (b) | ||||||
14 | of this Section. The terms "placed in service" and
| ||||||
15 | "qualified property" have the same meanings as | ||||||
16 | described in subsection (h)
of Section 201 of the | ||||||
17 | Illinois Income Tax Act; or
| ||||||
18 | (B) the business intends to establish a new | ||||||
19 | electric generating
facility at a designated location | ||||||
20 | in Illinois. "New electric generating
facility", for | ||||||
21 | purposes of this Section, means a newly-constructed
| ||||||
22 | electric
generation plant
or a newly-constructed | ||||||
23 | generation capacity expansion at an existing electric
| ||||||
24 | generation
plant, including the transmission lines and | ||||||
25 | associated
equipment that transfers electricity from | ||||||
26 | points of supply to points of
delivery, and for which |
| |||||||
| |||||||
1 | such new foundation construction commenced not sooner
| ||||||
2 | than July 1,
2001. Such facility shall be designed to | ||||||
3 | provide baseload electric
generation and shall operate | ||||||
4 | on a continuous basis throughout the year;
and (i) | ||||||
5 | shall have an aggregate rated generating capacity of at | ||||||
6 | least 1,000
megawatts for all new units at one site if | ||||||
7 | it uses natural gas as its primary
fuel and foundation | ||||||
8 | construction of the facility is commenced on
or before | ||||||
9 | December 31, 2004, or shall have an aggregate rated | ||||||
10 | generating
capacity of at least 400 megawatts for all | ||||||
11 | new units at one site if it uses
coal or gases derived | ||||||
12 | from coal
as its primary fuel and
shall support the | ||||||
13 | creation of at least 150 new Illinois coal mining jobs, | ||||||
14 | or
(ii) shall be funded through a federal Department of | ||||||
15 | Energy grant before December 31, 2010 and shall support | ||||||
16 | the creation of Illinois
coal-mining
jobs, or (iii) | ||||||
17 | shall use coal gasification or integrated | ||||||
18 | gasification-combined cycle units
that generate
| ||||||
19 | electricity or chemicals, or both, and shall support | ||||||
20 | the creation of Illinois
coal-mining
jobs.
The
| ||||||
21 | business must certify in writing that the investments | ||||||
22 | necessary to establish
a new electric generating | ||||||
23 | facility would not be placed in service and the
job | ||||||
24 | creation in the case of a coal-fueled plant
would not | ||||||
25 | occur without the tax credits and exemptions set forth | ||||||
26 | in
subsection (b-5) of this Section. The term "placed |
| |||||||
| |||||||
1 | in service" has
the same meaning as described in | ||||||
2 | subsection
(h) of Section 201 of the Illinois Income | ||||||
3 | Tax Act; or
| ||||||
4 | (B-5) the business intends to establish a new | ||||||
5 | gasification
facility at a designated location in | ||||||
6 | Illinois. As used in this Section, "new gasification | ||||||
7 | facility" means a newly constructed coal gasification | ||||||
8 | facility that generates chemical feedstocks or | ||||||
9 | transportation fuels derived from coal (which may | ||||||
10 | include, but are not limited to, methane, methanol, and | ||||||
11 | nitrogen fertilizer), that supports the creation or | ||||||
12 | retention of Illinois coal-mining jobs, and that | ||||||
13 | qualifies for financial assistance from the Department | ||||||
14 | before December 31, 2010. A new gasification facility | ||||||
15 | does not include a pilot project located within | ||||||
16 | Jefferson County or within a county adjacent to | ||||||
17 | Jefferson County for synthetic natural gas from coal; | ||||||
18 | or
| ||||||
19 | (C) the business intends to establish
production | ||||||
20 | operations at a new coal mine, re-establish production | ||||||
21 | operations at
a closed coal mine, or expand production | ||||||
22 | at an existing coal mine
at a designated location in | ||||||
23 | Illinois not sooner than July 1, 2001;
provided that | ||||||
24 | the
production operations result in the creation of 150 | ||||||
25 | new Illinois coal mining
jobs as described in | ||||||
26 | subdivision (a)(3)(B) of this Section, and further
|
| |||||||
| |||||||
1 | provided that the coal extracted from such mine is | ||||||
2 | utilized as the predominant
source for a new electric | ||||||
3 | generating facility.
The business must certify in | ||||||
4 | writing that the
investments necessary to establish a | ||||||
5 | new, expanded, or reopened coal mine would
not
be | ||||||
6 | placed in service and the job creation would not
occur | ||||||
7 | without the tax credits and exemptions set forth in | ||||||
8 | subsection (b-5) of
this Section. The term "placed in | ||||||
9 | service" has
the same meaning as described in | ||||||
10 | subsection (h) of Section 201 of the
Illinois Income | ||||||
11 | Tax Act; or
| ||||||
12 | (D) the business intends to construct new | ||||||
13 | transmission facilities or
upgrade existing | ||||||
14 | transmission facilities at designated locations in | ||||||
15 | Illinois,
for which construction commenced not sooner | ||||||
16 | than July 1, 2001. For the
purposes of this Section, | ||||||
17 | "transmission facilities" means transmission lines
| ||||||
18 | with a voltage rating of 115 kilovolts or above, | ||||||
19 | including associated
equipment, that transfer | ||||||
20 | electricity from points of supply to points of
delivery | ||||||
21 | and that transmit a majority of the electricity | ||||||
22 | generated by a new
electric generating facility | ||||||
23 | designated as a High Impact Business in accordance
with | ||||||
24 | this Section. The business must certify in writing that | ||||||
25 | the investments
necessary to construct new | ||||||
26 | transmission facilities or upgrade existing
|
| |||||||
| |||||||
1 | transmission facilities would not be placed in service
| ||||||
2 | without the tax credits and exemptions set forth in | ||||||
3 | subsection (b-5) of this
Section. The term "placed in | ||||||
4 | service" has the
same meaning as described in | ||||||
5 | subsection (h) of Section 201 of the Illinois
Income | ||||||
6 | Tax Act; or
| ||||||
7 | (E) the business intends to establish a new wind | ||||||
8 | power facility at a designated location in Illinois. | ||||||
9 | For purposes of this Section, "new wind power facility" | ||||||
10 | means a newly constructed electric generation | ||||||
11 | facility, or a newly constructed expansion of an | ||||||
12 | existing electric generation facility, placed in | ||||||
13 | service on or after July 1, 2009, that generates | ||||||
14 | electricity using wind energy devices, and such | ||||||
15 | facility shall be deemed to include all associated | ||||||
16 | transmission lines, substations, and other equipment | ||||||
17 | related to the generation of electricity from wind | ||||||
18 | energy devices. For purposes of this Section, "wind | ||||||
19 | energy device" means any device, with a nameplate | ||||||
20 | capacity of at least 0.5 megawatts, that is used in the | ||||||
21 | process of converting kinetic energy from the wind to | ||||||
22 | generate electricity; or and | ||||||
23 | (F) the business intends to establish a fertilizer | ||||||
24 | plant at a designated location in Illinois; for the | ||||||
25 | purposes of this Section, "fertilizer plant" means a | ||||||
26 | newly constructed or upgraded plant facilitating gas |
| |||||||
| |||||||
1 | used in the production of anhydrous ammonia and | ||||||
2 | downstream nitrogen fertilizer products for resale; | ||||||
3 | and
| ||||||
4 | (4) no later than 90 days after an application is | ||||||
5 | submitted, the
Department shall notify the applicant of the | ||||||
6 | Department's determination of
the qualification of the | ||||||
7 | proposed High Impact Business under this Section.
| ||||||
8 | (b) Businesses designated as High Impact Businesses | ||||||
9 | pursuant to
subdivision (a)(3)(A) of this Section shall qualify | ||||||
10 | for the credits and
exemptions described in the
following Acts: | ||||||
11 | Section 9-222 and Section 9-222.1A of the Public Utilities
Act,
| ||||||
12 | subsection (h)
of Section 201 of the Illinois Income Tax Act,
| ||||||
13 | and Section 1d of
the
Retailers' Occupation Tax Act; provided | ||||||
14 | that these credits and
exemptions
described in these Acts shall | ||||||
15 | not be authorized until the minimum
investments set forth in | ||||||
16 | subdivision (a)(3)(A) of this
Section have been placed in
| ||||||
17 | service in qualified properties and, in the case of the | ||||||
18 | exemptions
described in the Public Utilities Act and Section 1d | ||||||
19 | of the Retailers'
Occupation Tax Act, the minimum full-time | ||||||
20 | equivalent jobs or full-time retained jobs set
forth in | ||||||
21 | subdivision (a)(3)(A) of this Section have been
created or | ||||||
22 | retained.
Businesses designated as High Impact Businesses | ||||||
23 | under
this Section shall also
qualify for the exemption | ||||||
24 | described in Section 5l of the Retailers' Occupation
Tax Act. | ||||||
25 | The credit provided in subsection (h) of Section 201 of the | ||||||
26 | Illinois
Income Tax Act shall be applicable to investments in |
| |||||||
| |||||||
1 | qualified property as set
forth in subdivision (a)(3)(A) of | ||||||
2 | this Section.
| ||||||
3 | (b-5) Businesses designated as High Impact Businesses | ||||||
4 | pursuant to
subdivisions (a)(3)(B), (a)(3)(B-5), (a)(3)(C), | ||||||
5 | and (a)(3)(D) of this Section shall qualify
for the credits and | ||||||
6 | exemptions described in the following Acts: Section 51 of
the | ||||||
7 | Retailers' Occupation Tax Act, Section 9-222 and Section | ||||||
8 | 9-222.1A of the
Public Utilities Act, and subsection (h) of | ||||||
9 | Section 201 of the Illinois Income
Tax Act; however, the | ||||||
10 | credits and exemptions authorized under Section 9-222 and
| ||||||
11 | Section 9-222.1A of the Public Utilities Act, and subsection | ||||||
12 | (h) of Section 201
of the Illinois Income Tax Act shall not be | ||||||
13 | authorized until the new electric
generating facility, the new | ||||||
14 | gasification facility, the new transmission facility, or the | ||||||
15 | new, expanded, or
reopened coal mine is operational,
except | ||||||
16 | that a new electric generating facility whose primary fuel | ||||||
17 | source is
natural gas is eligible only for the exemption under | ||||||
18 | Section 5l of the
Retailers' Occupation Tax Act.
| ||||||
19 | (b-6) Businesses designated as High Impact Businesses | ||||||
20 | pursuant to subdivision (a)(3)(E) of this Section shall qualify | ||||||
21 | for the exemptions described in Section 5l of the Retailers' | ||||||
22 | Occupation Tax Act; any business so designated as a High Impact | ||||||
23 | Business being, for purposes of this Section, a "Wind Energy | ||||||
24 | Business". | ||||||
25 | (c) High Impact Businesses located in federally designated | ||||||
26 | foreign trade
zones or sub-zones are also eligible for |
| |||||||
| |||||||
1 | additional credits, exemptions and
deductions as described in | ||||||
2 | the following Acts: Section 9-221 and Section
9-222.1 of the | ||||||
3 | Public
Utilities Act; and subsection (g) of Section 201, and | ||||||
4 | Section 203
of the Illinois Income Tax Act.
| ||||||
5 | (d) Except for businesses contemplated under subdivision | ||||||
6 | (a)(3)(E) of this Section, existing Illinois businesses which | ||||||
7 | apply for designation as a
High Impact Business must provide | ||||||
8 | the Department with the prospective plan
for which 1,500 | ||||||
9 | full-time retained jobs would be eliminated in the event that | ||||||
10 | the
business is not designated.
| ||||||
11 | (e) Except for new wind power facilities contemplated under | ||||||
12 | subdivision (a)(3)(E) of this Section, new proposed facilities | ||||||
13 | which apply for designation as High Impact
Business must | ||||||
14 | provide the Department with proof of alternative non-Illinois
| ||||||
15 | sites which would receive the proposed investment and job | ||||||
16 | creation in the
event that the business is not designated as a | ||||||
17 | High Impact Business.
| ||||||
18 | (f) Except for businesses contemplated under subdivision | ||||||
19 | (a)(3)(E) of this Section, in the event that a business is | ||||||
20 | designated a High Impact Business
and it is later determined | ||||||
21 | after reasonable notice and an opportunity for a
hearing as | ||||||
22 | provided under the Illinois Administrative Procedure Act, that
| ||||||
23 | the business would have placed in service in qualified property | ||||||
24 | the
investments and created or retained the requisite number of | ||||||
25 | jobs without
the benefits of the High Impact Business | ||||||
26 | designation, the Department shall
be required to immediately |
| |||||||
| |||||||
1 | revoke the designation and notify the Director
of the | ||||||
2 | Department of Revenue who shall begin proceedings to recover | ||||||
3 | all
wrongfully exempted State taxes with interest. The business | ||||||
4 | shall also be
ineligible for all State funded Department | ||||||
5 | programs for a period of 10 years.
| ||||||
6 | (g) The Department shall revoke a High Impact Business | ||||||
7 | designation if
the participating business fails to comply with | ||||||
8 | the terms and conditions of
the designation. However, the | ||||||
9 | penalties for new wind power facilities or Wind Energy | ||||||
10 | Businesses for failure to comply with any of the terms or | ||||||
11 | conditions of the Illinois Prevailing Wage Act shall be only | ||||||
12 | those penalties identified in the Illinois Prevailing Wage Act, | ||||||
13 | and the Department shall not revoke a High Impact Business | ||||||
14 | designation as a result of the failure to comply with any of | ||||||
15 | the terms or conditions of the Illinois Prevailing Wage Act in | ||||||
16 | relation to a new wind power facility or a Wind Energy | ||||||
17 | Business.
| ||||||
18 | (h) Prior to designating a business, the Department shall | ||||||
19 | provide the
members of the General Assembly and Commission on | ||||||
20 | Government Forecasting and Accountability
with a report | ||||||
21 | setting forth the terms and conditions of the designation and
| ||||||
22 | guarantees that have been received by the Department in | ||||||
23 | relation to the
proposed business being designated.
| ||||||
24 | (Source: P.A. 96-28, eff. 7-1-09; 97-905, eff. 8-7-12.)
| ||||||
25 | Section 10. The Property Tax Code is amended by changing |
| |||||||
| |||||||
1 | Section 18-165 as follows:
| ||||||
2 | (35 ILCS 200/18-165)
| ||||||
3 | Sec. 18-165. Abatement of taxes.
| ||||||
4 | (a) Any taxing district, upon a majority vote of its | ||||||
5 | governing authority,
may, after the determination of the | ||||||
6 | assessed valuation of its property, order
the clerk of that | ||||||
7 | county to abate any portion of its taxes on the following
types | ||||||
8 | of property:
| ||||||
9 | (1) Commercial and industrial.
| ||||||
10 | (A) The property of any commercial or industrial | ||||||
11 | firm,
including but not limited to the property of (i) | ||||||
12 | any firm that
is used for collecting, separating, | ||||||
13 | storing, or processing recyclable
materials, locating | ||||||
14 | within the taxing district during the immediately | ||||||
15 | preceding
year from another state, territory, or | ||||||
16 | country, or having been newly created
within this State | ||||||
17 | during the immediately preceding year, or expanding an
| ||||||
18 | existing facility, or (ii) any firm that is used for | ||||||
19 | the generation and
transmission of
electricity | ||||||
20 | locating within the taxing district during the | ||||||
21 | immediately
preceding year or expanding its presence | ||||||
22 | within the taxing district during the
immediately | ||||||
23 | preceding year by construction of a new electric | ||||||
24 | generating
facility that uses natural gas as its fuel, | ||||||
25 | or any firm that is used for
production operations at a |
| |||||||
| |||||||
1 | new,
expanded, or reopened coal mine within the taxing | ||||||
2 | district, that
has been certified as a High Impact | ||||||
3 | Business by the Illinois Department of
Commerce and | ||||||
4 | Economic Opportunity. The property of any firm used for | ||||||
5 | the
generation and transmission of electricity shall | ||||||
6 | include all property of the
firm used for transmission | ||||||
7 | facilities as defined in Section 5.5 of the Illinois
| ||||||
8 | Enterprise Zone Act. The abatement shall not exceed a | ||||||
9 | period of 10 years
and the aggregate amount of abated | ||||||
10 | taxes for all taxing districts combined
shall not | ||||||
11 | exceed $4,000,000.
| ||||||
12 | (A-5) Any property in the taxing district of a new | ||||||
13 | electric generating
facility, as defined in Section | ||||||
14 | 605-332 of the Department of Commerce and
Economic | ||||||
15 | Opportunity Law of the Civil Administrative Code of | ||||||
16 | Illinois.
The abatement shall not exceed a period of 10 | ||||||
17 | years.
The abatement shall be subject to the following | ||||||
18 | limitations:
| ||||||
19 | (i) if the equalized assessed valuation of the | ||||||
20 | new electric generating
facility is equal to or | ||||||
21 | greater than $25,000,000 but less
than | ||||||
22 | $50,000,000, then the abatement may not exceed (i) | ||||||
23 | over the entire term
of the abatement, 5% of the | ||||||
24 | taxing district's aggregate taxes from the
new | ||||||
25 | electric generating facility and (ii) in any one
| ||||||
26 | year of abatement, 20% of the taxing district's |
| |||||||
| |||||||
1 | taxes from the
new electric generating facility;
| ||||||
2 | (ii) if the equalized assessed valuation of | ||||||
3 | the new electric
generating facility is equal to or | ||||||
4 | greater than $50,000,000 but less
than | ||||||
5 | $75,000,000, then the abatement may not exceed (i) | ||||||
6 | over the entire term
of the abatement, 10% of the | ||||||
7 | taxing district's aggregate taxes from the
new | ||||||
8 | electric generating facility and (ii) in any one
| ||||||
9 | year of abatement, 35% of the taxing district's | ||||||
10 | taxes from the
new electric generating facility;
| ||||||
11 | (iii) if the equalized assessed valuation of | ||||||
12 | the new electric
generating facility
is equal to or | ||||||
13 | greater than $75,000,000 but less
than | ||||||
14 | $100,000,000, then the abatement may not exceed | ||||||
15 | (i) over the entire term
of the abatement, 20% of | ||||||
16 | the taxing district's aggregate taxes from the
new | ||||||
17 | electric generating facility and (ii) in any one
| ||||||
18 | year of abatement, 50% of the taxing district's | ||||||
19 | taxes from the
new electric generating facility;
| ||||||
20 | (iv) if the equalized assessed valuation of | ||||||
21 | the new electric
generating facility is equal to or | ||||||
22 | greater than $100,000,000 but less
than | ||||||
23 | $125,000,000, then the
abatement may not exceed | ||||||
24 | (i) over the entire term of the abatement, 30% of | ||||||
25 | the
taxing district's aggregate taxes from the new | ||||||
26 | electric generating facility
and (ii) in any one |
| |||||||
| |||||||
1 | year of abatement, 60% of the taxing
district's | ||||||
2 | taxes from the new electric generating facility;
| ||||||
3 | (v) if the equalized assessed valuation of the | ||||||
4 | new electric generating
facility is equal to or | ||||||
5 | greater than $125,000,000 but less
than | ||||||
6 | $150,000,000, then the
abatement may not exceed | ||||||
7 | (i) over the entire term of the abatement, 40% of | ||||||
8 | the
taxing district's aggregate taxes from the new | ||||||
9 | electric generating facility
and (ii) in any one | ||||||
10 | year of abatement, 60% of the taxing
district's | ||||||
11 | taxes from the new electric generating facility;
| ||||||
12 | (vi) if the equalized assessed valuation of | ||||||
13 | the new electric
generating facility is equal to or | ||||||
14 | greater than $150,000,000, then the
abatement may | ||||||
15 | not exceed (i) over the entire term of the | ||||||
16 | abatement, 50% of the
taxing district's aggregate | ||||||
17 | taxes from the new electric generating facility
| ||||||
18 | and (ii) in any one year of abatement, 60% of the | ||||||
19 | taxing
district's taxes from the new electric | ||||||
20 | generating facility.
| ||||||
21 | The abatement is not effective unless
the owner of | ||||||
22 | the new electric generating facility agrees to
repay to | ||||||
23 | the taxing district all amounts previously abated, | ||||||
24 | together with
interest computed at the rate and in the | ||||||
25 | manner provided for delinquent taxes,
in the event that | ||||||
26 | the owner of the new electric generating facility |
| |||||||
| |||||||
1 | closes the
new electric generating facility before the | ||||||
2 | expiration of the
entire term of the abatement.
| ||||||
3 | The authorization of taxing districts to abate | ||||||
4 | taxes under this
subdivision (a)(1)(A-5) expires on | ||||||
5 | January 1, 2010.
| ||||||
6 | (B) The property of any commercial or industrial
| ||||||
7 | development of at least 225 500 acres having been | ||||||
8 | created within the taxing
district. The abatement | ||||||
9 | shall not exceed a period of 20 years and the
aggregate | ||||||
10 | amount of abated taxes for all taxing districts | ||||||
11 | combined shall not
exceed $12,000,000.
| ||||||
12 | (C) The property of any commercial or industrial | ||||||
13 | firm currently
located in the taxing district that | ||||||
14 | expands a facility or its number of
employees. The | ||||||
15 | abatement shall not exceed a period of 10 years and the
| ||||||
16 | aggregate amount of abated taxes for all taxing | ||||||
17 | districts combined shall not
exceed $4,000,000. The | ||||||
18 | abatement period may be renewed at the option of the
| ||||||
19 | taxing districts.
| ||||||
20 | (2) Horse racing. Any property in the taxing district | ||||||
21 | which
is used for the racing of horses and upon which | ||||||
22 | capital improvements consisting
of expansion, improvement | ||||||
23 | or replacement of existing facilities have been made
since | ||||||
24 | July 1, 1987. The combined abatements for such property | ||||||
25 | from all taxing
districts in any county shall not exceed | ||||||
26 | $5,000,000 annually and shall not
exceed a period of 10 |
| |||||||
| |||||||
1 | years.
| ||||||
2 | (3) Auto racing. Any property designed exclusively for | ||||||
3 | the racing of
motor vehicles. Such abatement shall not | ||||||
4 | exceed a period of 10 years.
| ||||||
5 | (4) Academic or research institute. The property of any | ||||||
6 | academic or
research institute in the taxing district that | ||||||
7 | (i) is an exempt organization
under paragraph (3) of | ||||||
8 | Section 501(c) of the Internal Revenue Code, (ii)
operates | ||||||
9 | for the benefit of the public by actually and exclusively | ||||||
10 | performing
scientific research and making the results of | ||||||
11 | the research available to the
interested public on a | ||||||
12 | non-discriminatory basis, and (iii) employs more than
100 | ||||||
13 | employees. An abatement granted under this paragraph shall | ||||||
14 | be for at
least 15 years and the aggregate amount of abated | ||||||
15 | taxes for all taxing
districts combined shall not exceed | ||||||
16 | $5,000,000.
| ||||||
17 | (5) Housing for older persons. Any property in the | ||||||
18 | taxing district that
is devoted exclusively to affordable | ||||||
19 | housing for older households. For
purposes of this | ||||||
20 | paragraph, "older households" means those households (i)
| ||||||
21 | living in housing provided under any State or federal | ||||||
22 | program that the
Department of Human Rights determines is | ||||||
23 | specifically designed and operated to
assist elderly | ||||||
24 | persons and is solely occupied by persons 55 years of age | ||||||
25 | or
older and (ii) whose annual income does not exceed 80% | ||||||
26 | of the area gross median
income, adjusted for family size, |
| |||||||
| |||||||
1 | as such gross income and median income are
determined from | ||||||
2 | time to time by the United States Department of Housing and
| ||||||
3 | Urban Development. The abatement shall not exceed a period | ||||||
4 | of 15 years, and
the aggregate amount of abated taxes for | ||||||
5 | all taxing districts shall not exceed
$3,000,000.
| ||||||
6 | (6) Historical society. For assessment years 1998 | ||||||
7 | through 2018, the
property of an historical society | ||||||
8 | qualifying as an exempt organization under
Section | ||||||
9 | 501(c)(3) of the federal Internal Revenue Code.
| ||||||
10 | (7) Recreational facilities. Any property in the | ||||||
11 | taxing district (i)
that is used for a municipal airport, | ||||||
12 | (ii) that
is subject to a leasehold assessment under | ||||||
13 | Section 9-195 of this Code and (iii)
which
is sublet from a | ||||||
14 | park district that is leasing the property from a
| ||||||
15 | municipality, but only if the property is used exclusively | ||||||
16 | for recreational
facilities or for parking lots used | ||||||
17 | exclusively for those facilities. The
abatement shall not | ||||||
18 | exceed a period of 10 years.
| ||||||
19 | (8) Relocated corporate headquarters. If approval | ||||||
20 | occurs within 5 years
after the effective date of this | ||||||
21 | amendatory Act of the 92nd General Assembly,
any property | ||||||
22 | or a portion of any property in a taxing district that is | ||||||
23 | used by
an eligible business for a corporate headquarters | ||||||
24 | as defined in the Corporate
Headquarters Relocation Act. | ||||||
25 | Instead of an abatement under this paragraph (8),
a taxing | ||||||
26 | district may enter into an agreement with an eligible |
| |||||||
| |||||||
1 | business to make
annual payments to that eligible business | ||||||
2 | in an amount not to exceed the
property taxes paid directly | ||||||
3 | or indirectly by that eligible business to the
taxing | ||||||
4 | district and any other taxing districts for
premises | ||||||
5 | occupied pursuant to a written lease and may make those | ||||||
6 | payments
without the need for an annual appropriation. No | ||||||
7 | school district, however, may
enter into an agreement with, | ||||||
8 | or abate taxes for, an eligible business unless
the | ||||||
9 | municipality in which the corporate headquarters is | ||||||
10 | located agrees to
provide funding to the school district in | ||||||
11 | an amount equal to the amount abated
or paid by the school | ||||||
12 | district as provided in this paragraph (8).
Any abatement | ||||||
13 | ordered or
agreement entered into under this paragraph (8) | ||||||
14 | may be effective for the entire
term specified by the | ||||||
15 | taxing district, except the term of the abatement or
annual | ||||||
16 | payments may not exceed 20 years. | ||||||
17 | (9) United States Military Public/Private Residential | ||||||
18 | Developments. Each building, structure, or other | ||||||
19 | improvement designed, financed, constructed, renovated, | ||||||
20 | managed, operated, or maintained after January 1, 2006 | ||||||
21 | under a "PPV Lease", as set forth under Division 14 of | ||||||
22 | Article 10, and any such PPV Lease.
| ||||||
23 | (10) Property located in a business corridor that | ||||||
24 | qualifies for an abatement under Section 18-184.10. | ||||||
25 | (b) Upon a majority vote of its governing authority, any | ||||||
26 | municipality
may, after the determination of the assessed |
| |||||||
| |||||||
1 | valuation of its property, order
the county clerk to abate any | ||||||
2 | portion of its taxes on any property that is
located within the | ||||||
3 | corporate limits of the municipality in accordance with
Section | ||||||
4 | 8-3-18 of the Illinois Municipal Code.
| ||||||
5 | (Source: P.A. 96-1136, eff. 7-21-10; 97-577, eff. 1-1-12; | ||||||
6 | 97-636, eff. 6-1-12 .)
| ||||||
7 | Section 99. Effective date. This Act takes effect upon | ||||||
8 | becoming law.
|