Bill Text: IL HB3096 | 2019-2020 | 101st General Assembly | Engrossed
Bill Title: Amends the Use Tax Act and the Service Use Tax Act. Contains provisions concerning marketplace facilitators. Amends the Illinois Income Tax Act. Creates a deduction for trusts and estates for certain excess business losses. Creates an addition modification for corporations for certain foreign derived income. Amends the Illinois Public Aid Code. Imposes a managed care organization provider assessment. Amends the Illinois Public Aid Code to create a managed care organization provider assessment. Extends the amnesty period under the Tax Delinquency Amnesty Act and the Franchise Tax and License Fee Amnesty Act of 2007. Effective immediately.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Engrossed - Dead) 2020-01-20 - Alternate Chief Sponsor Changed to Sen. Don Harmon [HB3096 Detail]
Download: Illinois-2019-HB3096-Engrossed.html
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1 | AN ACT concerning revenue.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 5. The Property Tax Code is amended by changing | ||||||
5 | Section 18-185 and by adding Section 18-190.3 as follows:
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6 | (35 ILCS 200/18-185)
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7 | Sec. 18-185. Short title; definitions. This Division 5 may | ||||||
8 | be cited as the
Property Tax Extension Limitation Law. As used | ||||||
9 | in this Division 5:
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10 | "Consumer Price Index" means the Consumer Price Index for | ||||||
11 | All Urban
Consumers for all items published by the United | ||||||
12 | States Department of Labor.
| ||||||
13 | "Extension limitation" means (a) the lesser of 5% or the | ||||||
14 | percentage increase
in the Consumer Price Index during the | ||||||
15 | 12-month calendar year preceding the
levy year or (b) the rate | ||||||
16 | of increase approved by voters under Section 18-205.
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17 | "Affected county" means a county of 3,000,000 or more | ||||||
18 | inhabitants or a
county contiguous to a county of 3,000,000 or | ||||||
19 | more inhabitants.
| ||||||
20 | "Taxing district" has the same meaning provided in Section | ||||||
21 | 1-150, except as
otherwise provided in this Section. For the | ||||||
22 | 1991 through 1994 levy years only,
"taxing district" includes | ||||||
23 | only each non-home rule taxing district having the
majority of |
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| |||||||
1 | its
1990 equalized assessed value within any county or counties | ||||||
2 | contiguous to a
county with 3,000,000 or more inhabitants. | ||||||
3 | Beginning with the 1995 levy
year, "taxing district" includes | ||||||
4 | only each non-home rule taxing district
subject to this Law | ||||||
5 | before the 1995 levy year and each non-home rule
taxing | ||||||
6 | district not subject to this Law before the 1995 levy year | ||||||
7 | having the
majority of its 1994 equalized assessed value in an | ||||||
8 | affected county or
counties. Beginning with the levy year in
| ||||||
9 | which this Law becomes applicable to a taxing district as
| ||||||
10 | provided in Section 18-213, "taxing district" also includes | ||||||
11 | those taxing
districts made subject to this Law as provided in | ||||||
12 | Section 18-213.
| ||||||
13 | "Aggregate extension" for taxing districts to which this | ||||||
14 | Law applied before
the 1995 levy year means the annual | ||||||
15 | corporate extension for the taxing
district and those special | ||||||
16 | purpose extensions that are made annually for
the taxing | ||||||
17 | district, excluding special purpose extensions: (a) made for | ||||||
18 | the
taxing district to pay interest or principal on general | ||||||
19 | obligation bonds
that were approved by referendum; (b) made for | ||||||
20 | any taxing district to pay
interest or principal on general | ||||||
21 | obligation bonds issued before October 1,
1991; (c) made for | ||||||
22 | any taxing district to pay interest or principal on bonds
| ||||||
23 | issued to refund or continue to refund those bonds issued | ||||||
24 | before October 1,
1991; (d)
made for any taxing district to pay | ||||||
25 | interest or principal on bonds
issued to refund or continue to | ||||||
26 | refund bonds issued after October 1, 1991 that
were approved by |
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| |||||||
1 | referendum; (e)
made for any taxing district to pay interest
or | ||||||
2 | principal on revenue bonds issued before October 1, 1991 for | ||||||
3 | payment of
which a property tax levy or the full faith and | ||||||
4 | credit of the unit of local
government is pledged; however, a | ||||||
5 | tax for the payment of interest or principal
on those bonds | ||||||
6 | shall be made only after the governing body of the unit of | ||||||
7 | local
government finds that all other sources for payment are | ||||||
8 | insufficient to make
those payments; (f) made for payments | ||||||
9 | under a building commission lease when
the lease payments are | ||||||
10 | for the retirement of bonds issued by the commission
before | ||||||
11 | October 1, 1991, to pay for the building project; (g) made for | ||||||
12 | payments
due under installment contracts entered into before | ||||||
13 | October 1, 1991;
(h) made for payments of principal and | ||||||
14 | interest on bonds issued under the
Metropolitan Water | ||||||
15 | Reclamation District Act to finance construction projects
| ||||||
16 | initiated before October 1, 1991; (i) made for payments of | ||||||
17 | principal and
interest on limited bonds, as defined in Section | ||||||
18 | 3 of the Local Government Debt
Reform Act, in an amount not to | ||||||
19 | exceed the debt service extension base less
the amount in items | ||||||
20 | (b), (c), (e), and (h) of this definition for
non-referendum | ||||||
21 | obligations, except obligations initially issued pursuant to
| ||||||
22 | referendum; (j) made for payments of principal and interest on | ||||||
23 | bonds
issued under Section 15 of the Local Government Debt | ||||||
24 | Reform Act; (k)
made
by a school district that participates in | ||||||
25 | the Special Education District of
Lake County, created by | ||||||
26 | special education joint agreement under Section
10-22.31 of the |
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1 | School Code, for payment of the school district's share of the
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2 | amounts required to be contributed by the Special Education | ||||||
3 | District of Lake
County to the Illinois Municipal Retirement | ||||||
4 | Fund under Article 7 of the
Illinois Pension Code; the amount | ||||||
5 | of any extension under this item (k) shall be
certified by the | ||||||
6 | school district to the county clerk; (l) made to fund
expenses | ||||||
7 | of providing joint recreational programs for persons with | ||||||
8 | disabilities under
Section 5-8 of
the
Park District Code or | ||||||
9 | Section 11-95-14 of the Illinois Municipal Code; (m) made for | ||||||
10 | temporary relocation loan repayment purposes pursuant to | ||||||
11 | Sections 2-3.77 and 17-2.2d of the School Code; (n) made for | ||||||
12 | payment of principal and interest on any bonds issued under the | ||||||
13 | authority of Section 17-2.2d of the School Code; (o) made for | ||||||
14 | contributions to a firefighter's pension fund created under | ||||||
15 | Article 4 of the Illinois Pension Code, to the extent of the | ||||||
16 | amount certified under item (5) of Section 4-134 of the | ||||||
17 | Illinois Pension Code; and (p) made for road purposes in the | ||||||
18 | first year after a township assumes the rights, powers, duties, | ||||||
19 | assets, property, liabilities, obligations, and
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20 | responsibilities of a road district abolished under the | ||||||
21 | provisions of Section 6-133 of the Illinois Highway Code.
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22 | "Aggregate extension" for the taxing districts to which | ||||||
23 | this Law did not
apply before the 1995 levy year (except taxing | ||||||
24 | districts subject to this Law
in
accordance with Section | ||||||
25 | 18-213) means the annual corporate extension for the
taxing | ||||||
26 | district and those special purpose extensions that are made |
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1 | annually for
the taxing district, excluding special purpose | ||||||
2 | extensions: (a) made for the
taxing district to pay interest or | ||||||
3 | principal on general obligation bonds that
were approved by | ||||||
4 | referendum; (b) made for any taxing district to pay interest
or | ||||||
5 | principal on general obligation bonds issued before March 1, | ||||||
6 | 1995; (c) made
for any taxing district to pay interest or | ||||||
7 | principal on bonds issued to refund
or continue to refund those | ||||||
8 | bonds issued before March 1, 1995; (d) made for any
taxing | ||||||
9 | district to pay interest or principal on bonds issued to refund | ||||||
10 | or
continue to refund bonds issued after March 1, 1995 that | ||||||
11 | were approved by
referendum; (e) made for any taxing district | ||||||
12 | to pay interest or principal on
revenue bonds issued before | ||||||
13 | March 1, 1995 for payment of which a property tax
levy or the | ||||||
14 | full faith and credit of the unit of local government is | ||||||
15 | pledged;
however, a tax for the payment of interest or | ||||||
16 | principal on those bonds shall be
made only after the governing | ||||||
17 | body of the unit of local government finds that
all other | ||||||
18 | sources for payment are insufficient to make those payments; | ||||||
19 | (f) made
for payments under a building commission lease when | ||||||
20 | the lease payments are for
the retirement of bonds issued by | ||||||
21 | the commission before March 1, 1995 to
pay for the building | ||||||
22 | project; (g) made for payments due under installment
contracts | ||||||
23 | entered into before March 1, 1995; (h) made for payments of
| ||||||
24 | principal and interest on bonds issued under the Metropolitan | ||||||
25 | Water Reclamation
District Act to finance construction | ||||||
26 | projects initiated before October 1,
1991; (h-4) made for |
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1 | stormwater management purposes by the Metropolitan Water | ||||||
2 | Reclamation District of Greater Chicago under Section 12 of the | ||||||
3 | Metropolitan Water Reclamation District Act; (i) made for | ||||||
4 | payments of principal and interest on limited bonds,
as defined | ||||||
5 | in Section 3 of the Local Government Debt Reform Act, in an | ||||||
6 | amount
not to exceed the debt service extension base less the | ||||||
7 | amount in items (b),
(c), and (e) of this definition for | ||||||
8 | non-referendum obligations, except
obligations initially | ||||||
9 | issued pursuant to referendum and bonds described in
subsection | ||||||
10 | (h) of this definition; (j) made for payments of
principal and | ||||||
11 | interest on bonds issued under Section 15 of the Local | ||||||
12 | Government
Debt Reform Act; (k) made for payments of principal | ||||||
13 | and interest on bonds
authorized by Public Act 88-503 and | ||||||
14 | issued under Section 20a of the Chicago
Park District Act for | ||||||
15 | aquarium or
museum projects; (l) made for payments of principal | ||||||
16 | and interest on
bonds
authorized by Public Act 87-1191 or | ||||||
17 | 93-601 and (i) issued pursuant to Section 21.2 of the Cook | ||||||
18 | County Forest
Preserve District Act, (ii) issued under Section | ||||||
19 | 42 of the Cook County
Forest Preserve District Act for | ||||||
20 | zoological park projects, or (iii) issued
under Section 44.1 of | ||||||
21 | the Cook County Forest Preserve District Act for
botanical | ||||||
22 | gardens projects; (m) made
pursuant
to Section 34-53.5 of the | ||||||
23 | School Code, whether levied annually or not;
(n) made to fund | ||||||
24 | expenses of providing joint recreational programs for persons | ||||||
25 | with disabilities under Section 5-8 of the Park
District Code | ||||||
26 | or Section 11-95-14 of the Illinois Municipal Code;
(o) made by |
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1 | the
Chicago Park
District for recreational programs for persons | ||||||
2 | with disabilities under subsection (c) of
Section
7.06 of the | ||||||
3 | Chicago Park District Act; (p) made for contributions to a | ||||||
4 | firefighter's pension fund created under Article 4 of the | ||||||
5 | Illinois Pension Code, to the extent of the amount certified | ||||||
6 | under item (5) of Section 4-134 of the Illinois Pension Code; | ||||||
7 | (q) made by Ford Heights School District 169 under Section | ||||||
8 | 17-9.02 of the School Code; and (r) made for the purpose of | ||||||
9 | making employer contributions to the Public School Teachers' | ||||||
10 | Pension and Retirement Fund of Chicago under Section 34-53 of | ||||||
11 | the School Code.
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12 | "Aggregate extension" for all taxing districts to which | ||||||
13 | this Law applies in
accordance with Section 18-213, except for | ||||||
14 | those taxing districts subject to
paragraph (2) of subsection | ||||||
15 | (e) of Section 18-213, means the annual corporate
extension for | ||||||
16 | the
taxing district and those special purpose extensions that | ||||||
17 | are made annually for
the taxing district, excluding special | ||||||
18 | purpose extensions: (a) made for the
taxing district to pay | ||||||
19 | interest or principal on general obligation bonds that
were | ||||||
20 | approved by referendum; (b) made for any taxing district to pay | ||||||
21 | interest
or principal on general obligation bonds issued before | ||||||
22 | the date on which the
referendum making this
Law applicable to | ||||||
23 | the taxing district is held; (c) made
for any taxing district | ||||||
24 | to pay interest or principal on bonds issued to refund
or | ||||||
25 | continue to refund those bonds issued before the date on which | ||||||
26 | the
referendum making this Law
applicable to the taxing |
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| |||||||
1 | district is held;
(d) made for any
taxing district to pay | ||||||
2 | interest or principal on bonds issued to refund or
continue to | ||||||
3 | refund bonds issued after the date on which the referendum | ||||||
4 | making
this Law
applicable to the taxing district is held if | ||||||
5 | the bonds were approved by
referendum after the date on which | ||||||
6 | the referendum making this Law
applicable to the taxing | ||||||
7 | district is held; (e) made for any
taxing district to pay | ||||||
8 | interest or principal on
revenue bonds issued before the date | ||||||
9 | on which the referendum making this Law
applicable to the
| ||||||
10 | taxing district is held for payment of which a property tax
| ||||||
11 | levy or the full faith and credit of the unit of local | ||||||
12 | government is pledged;
however, a tax for the payment of | ||||||
13 | interest or principal on those bonds shall be
made only after | ||||||
14 | the governing body of the unit of local government finds that
| ||||||
15 | all other sources for payment are insufficient to make those | ||||||
16 | payments; (f) made
for payments under a building commission | ||||||
17 | lease when the lease payments are for
the retirement of bonds | ||||||
18 | issued by the commission before the date on which the
| ||||||
19 | referendum making this
Law applicable to the taxing district is | ||||||
20 | held to
pay for the building project; (g) made for payments due | ||||||
21 | under installment
contracts entered into before the date on | ||||||
22 | which the referendum making this Law
applicable to
the taxing | ||||||
23 | district is held;
(h) made for payments
of principal and | ||||||
24 | interest on limited bonds,
as defined in Section 3 of the Local | ||||||
25 | Government Debt Reform Act, in an amount
not to exceed the debt | ||||||
26 | service extension base less the amount in items (b),
(c), and |
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| |||||||
1 | (e) of this definition for non-referendum obligations, except
| ||||||
2 | obligations initially issued pursuant to referendum; (i) made | ||||||
3 | for payments
of
principal and interest on bonds issued under | ||||||
4 | Section 15 of the Local Government
Debt Reform Act;
(j)
made | ||||||
5 | for a qualified airport authority to pay interest or principal | ||||||
6 | on
general obligation bonds issued for the purpose of paying | ||||||
7 | obligations due
under, or financing airport facilities | ||||||
8 | required to be acquired, constructed,
installed or equipped | ||||||
9 | pursuant to, contracts entered into before March
1, 1996 (but | ||||||
10 | not including any amendments to such a contract taking effect | ||||||
11 | on
or after that date); (k) made to fund expenses of providing | ||||||
12 | joint
recreational programs for persons with disabilities | ||||||
13 | under Section 5-8 of
the
Park District Code or Section 11-95-14 | ||||||
14 | of the Illinois Municipal Code; (l) made for contributions to a | ||||||
15 | firefighter's pension fund created under Article 4 of the | ||||||
16 | Illinois Pension Code, to the extent of the amount certified | ||||||
17 | under item (5) of Section 4-134 of the Illinois Pension Code; | ||||||
18 | and (m) made for the taxing district to pay interest or | ||||||
19 | principal on general obligation bonds issued pursuant to | ||||||
20 | Section 19-3.10 of the School Code.
| ||||||
21 | "Aggregate extension" for all taxing districts to which | ||||||
22 | this Law applies in
accordance with paragraph (2) of subsection | ||||||
23 | (e) of Section 18-213 means the
annual corporate extension for | ||||||
24 | the
taxing district and those special purpose extensions that | ||||||
25 | are made annually for
the taxing district, excluding special | ||||||
26 | purpose extensions: (a) made for the
taxing district to pay |
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| |||||||
1 | interest or principal on general obligation bonds that
were | ||||||
2 | approved by referendum; (b) made for any taxing district to pay | ||||||
3 | interest
or principal on general obligation bonds issued before | ||||||
4 | the effective date of
this amendatory Act of 1997;
(c) made
for | ||||||
5 | any taxing district to pay interest or principal on bonds | ||||||
6 | issued to refund
or continue to refund those bonds issued | ||||||
7 | before the effective date
of this amendatory Act of 1997;
(d) | ||||||
8 | made for any
taxing district to pay interest or principal on | ||||||
9 | bonds issued to refund or
continue to refund bonds issued after | ||||||
10 | the effective date of this amendatory Act
of 1997 if the bonds | ||||||
11 | were approved by referendum after the effective date of
this | ||||||
12 | amendatory Act of 1997;
(e) made for any
taxing district to pay | ||||||
13 | interest or principal on
revenue bonds issued before the | ||||||
14 | effective date of this amendatory Act of 1997
for payment of | ||||||
15 | which a property tax
levy or the full faith and credit of the | ||||||
16 | unit of local government is pledged;
however, a tax for the | ||||||
17 | payment of interest or principal on those bonds shall be
made | ||||||
18 | only after the governing body of the unit of local government | ||||||
19 | finds that
all other sources for payment are insufficient to | ||||||
20 | make those payments; (f) made
for payments under a building | ||||||
21 | commission lease when the lease payments are for
the retirement | ||||||
22 | of bonds issued by the commission before the effective date
of | ||||||
23 | this amendatory Act of 1997
to
pay for the building project; | ||||||
24 | (g) made for payments due under installment
contracts entered | ||||||
25 | into before the effective date of this amendatory Act of
1997;
| ||||||
26 | (h) made for payments
of principal and interest on limited |
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| |||||||
1 | bonds,
as defined in Section 3 of the Local Government Debt | ||||||
2 | Reform Act, in an amount
not to exceed the debt service | ||||||
3 | extension base less the amount in items (b),
(c), and (e) of | ||||||
4 | this definition for non-referendum obligations, except
| ||||||
5 | obligations initially issued pursuant to referendum; (i) made | ||||||
6 | for payments
of
principal and interest on bonds issued under | ||||||
7 | Section 15 of the Local Government
Debt Reform Act;
(j)
made | ||||||
8 | for a qualified airport authority to pay interest or principal | ||||||
9 | on
general obligation bonds issued for the purpose of paying | ||||||
10 | obligations due
under, or financing airport facilities | ||||||
11 | required to be acquired, constructed,
installed or equipped | ||||||
12 | pursuant to, contracts entered into before March
1, 1996 (but | ||||||
13 | not including any amendments to such a contract taking effect | ||||||
14 | on
or after that date); (k) made to fund expenses of providing | ||||||
15 | joint
recreational programs for persons with disabilities | ||||||
16 | under Section 5-8 of
the
Park District Code or Section 11-95-14 | ||||||
17 | of the Illinois Municipal Code; and (l) made for contributions | ||||||
18 | to a firefighter's pension fund created under Article 4 of the | ||||||
19 | Illinois Pension Code, to the extent of the amount certified | ||||||
20 | under item (5) of Section 4-134 of the Illinois Pension Code.
| ||||||
21 | "Debt service extension base" means an amount equal to that | ||||||
22 | portion of the
extension for a taxing district for the 1994 | ||||||
23 | levy year, or for those taxing
districts subject to this Law in | ||||||
24 | accordance with Section 18-213, except for
those subject to | ||||||
25 | paragraph (2) of subsection (e) of Section 18-213, for the
levy
| ||||||
26 | year in which the referendum making this Law applicable to the |
| |||||||
| |||||||
1 | taxing district
is held, or for those taxing districts subject | ||||||
2 | to this Law in accordance with
paragraph (2) of subsection (e) | ||||||
3 | of Section 18-213 for the 1996 levy year,
constituting an
| ||||||
4 | extension for payment of principal and interest on bonds issued | ||||||
5 | by the taxing
district without referendum, but not including | ||||||
6 | excluded non-referendum bonds. For park districts (i) that were | ||||||
7 | first
subject to this Law in 1991 or 1995 and (ii) whose | ||||||
8 | extension for the 1994 levy
year for the payment of principal | ||||||
9 | and interest on bonds issued by the park
district without | ||||||
10 | referendum (but not including excluded non-referendum bonds)
| ||||||
11 | was less than 51% of the amount for the 1991 levy year | ||||||
12 | constituting an
extension for payment of principal and interest | ||||||
13 | on bonds issued by the park
district without referendum (but | ||||||
14 | not including excluded non-referendum bonds),
"debt service | ||||||
15 | extension base" means an amount equal to that portion of the
| ||||||
16 | extension for the 1991 levy year constituting an extension for | ||||||
17 | payment of
principal and interest on bonds issued by the park | ||||||
18 | district without referendum
(but not including excluded | ||||||
19 | non-referendum bonds). A debt service extension base | ||||||
20 | established or increased at any time pursuant to any provision | ||||||
21 | of this Law, except Section 18-212, shall be increased each | ||||||
22 | year commencing with the later of (i) the 2009 levy year or | ||||||
23 | (ii) the first levy year in which this Law becomes applicable | ||||||
24 | to the taxing district, by the lesser of 5% or the percentage | ||||||
25 | increase in the Consumer Price Index during the 12-month | ||||||
26 | calendar year preceding the levy year. The debt service |
| |||||||
| |||||||
1 | extension
base may be established or increased as provided | ||||||
2 | under Section 18-212.
"Excluded non-referendum bonds" means | ||||||
3 | (i) bonds authorized by Public
Act 88-503 and issued under | ||||||
4 | Section 20a of the Chicago Park District Act for
aquarium and | ||||||
5 | museum projects; (ii) bonds issued under Section 15 of the
| ||||||
6 | Local Government Debt Reform Act; or (iii) refunding | ||||||
7 | obligations issued
to refund or to continue to refund | ||||||
8 | obligations initially issued pursuant to
referendum.
| ||||||
9 | "Special purpose extensions" include, but are not limited | ||||||
10 | to, extensions
for levies made on an annual basis for | ||||||
11 | unemployment and workers'
compensation, self-insurance, | ||||||
12 | contributions to pension plans, and extensions
made pursuant to | ||||||
13 | Section 6-601 of the Illinois Highway Code for a road
| ||||||
14 | district's permanent road fund whether levied annually or not. | ||||||
15 | The
extension for a special service area is not included in the
| ||||||
16 | aggregate extension.
| ||||||
17 | "Aggregate extension base" means the taxing district's | ||||||
18 | last preceding
aggregate extension as adjusted under Sections | ||||||
19 | 18-135, 18-215,
18-230, and 18-206.
An adjustment under Section | ||||||
20 | 18-135 shall be made for the 2007 levy year and all subsequent | ||||||
21 | levy years whenever one or more counties within which a taxing | ||||||
22 | district is located (i) used estimated valuations or rates when | ||||||
23 | extending taxes in the taxing district for the last preceding | ||||||
24 | levy year that resulted in the over or under extension of | ||||||
25 | taxes, or (ii) increased or decreased the tax extension for the | ||||||
26 | last preceding levy year as required by Section 18-135(c). |
| |||||||
| |||||||
1 | Whenever an adjustment is required under Section 18-135, the | ||||||
2 | aggregate extension base of the taxing district shall be equal | ||||||
3 | to the amount that the aggregate extension of the taxing | ||||||
4 | district would have been for the last preceding levy year if | ||||||
5 | either or both (i) actual, rather than estimated, valuations or | ||||||
6 | rates had been used to calculate the extension of taxes for the | ||||||
7 | last levy year, or (ii) the tax extension for the last | ||||||
8 | preceding levy year had not been adjusted as required by | ||||||
9 | subsection (c) of Section 18-135.
| ||||||
10 | Notwithstanding any other provision of law, for levy year | ||||||
11 | 2012, the aggregate extension base for West Northfield School | ||||||
12 | District No. 31 in Cook County shall be $12,654,592. | ||||||
13 | "Levy year" has the same meaning as "year" under Section
| ||||||
14 | 1-155.
| ||||||
15 | "New property" means (i) the assessed value, after final | ||||||
16 | board of review or
board of appeals action, of new improvements | ||||||
17 | or additions to existing
improvements on any parcel of real | ||||||
18 | property that increase the assessed value of
that real property | ||||||
19 | during the levy year multiplied by the equalization factor
| ||||||
20 | issued by the Department under Section 17-30, (ii) the assessed | ||||||
21 | value, after
final board of review or board of appeals action, | ||||||
22 | of real property not exempt
from real estate taxation, which | ||||||
23 | real property was exempt from real estate
taxation for any | ||||||
24 | portion of the immediately preceding levy year, multiplied by
| ||||||
25 | the equalization factor issued by the Department under Section | ||||||
26 | 17-30, including the assessed value, upon final stabilization |
| |||||||
| |||||||
1 | of occupancy after new construction is complete, of any real | ||||||
2 | property located within the boundaries of an otherwise or | ||||||
3 | previously exempt military reservation that is intended for | ||||||
4 | residential use and owned by or leased to a private corporation | ||||||
5 | or other entity,
(iii) in counties that classify in accordance | ||||||
6 | with Section 4 of Article
IX of the
Illinois Constitution, an | ||||||
7 | incentive property's additional assessed value
resulting from | ||||||
8 | a
scheduled increase in the level of assessment as applied to | ||||||
9 | the first year
final board of
review market value, and (iv) any | ||||||
10 | increase in assessed value due to oil or gas production from an | ||||||
11 | oil or gas well required to be permitted under the Hydraulic | ||||||
12 | Fracturing Regulatory Act that was not produced in or accounted | ||||||
13 | for during the previous levy year.
In addition, the county | ||||||
14 | clerk in a county containing a population of
3,000,000 or more | ||||||
15 | shall include in the 1997
recovered tax increment value for any | ||||||
16 | school district, any recovered tax
increment value that was | ||||||
17 | applicable to the 1995 tax year calculations.
| ||||||
18 | "Qualified airport authority" means an airport authority | ||||||
19 | organized under
the Airport Authorities Act and located in a | ||||||
20 | county bordering on the State of
Wisconsin and having a | ||||||
21 | population in excess of 200,000 and not greater than
500,000.
| ||||||
22 | "Recovered tax increment value" means, except as otherwise | ||||||
23 | provided in this
paragraph, the amount of the current year's | ||||||
24 | equalized assessed value, in the
first year after a | ||||||
25 | municipality terminates
the designation of an area as a | ||||||
26 | redevelopment project area previously
established under the |
| |||||||
| |||||||
1 | Tax Increment Allocation Development Act in the Illinois
| ||||||
2 | Municipal Code, previously established under the Industrial | ||||||
3 | Jobs Recovery Law
in the Illinois Municipal Code, previously | ||||||
4 | established under the Economic Development Project Area Tax | ||||||
5 | Increment Act of 1995, or previously established under the | ||||||
6 | Economic
Development Area Tax Increment Allocation Act, of each | ||||||
7 | taxable lot, block,
tract, or parcel of real property in the | ||||||
8 | redevelopment project area over and
above the initial equalized | ||||||
9 | assessed value of each property in the
redevelopment project | ||||||
10 | area.
For the taxes which are extended for the 1997 levy year, | ||||||
11 | the recovered tax
increment value for a non-home rule taxing | ||||||
12 | district that first became subject
to this Law for the 1995 | ||||||
13 | levy year because a majority of its 1994 equalized
assessed | ||||||
14 | value was in an affected county or counties shall be increased | ||||||
15 | if a
municipality terminated the designation of an area in 1993 | ||||||
16 | as a redevelopment
project area previously established under | ||||||
17 | the Tax Increment Allocation
Development Act in the Illinois | ||||||
18 | Municipal Code, previously established under
the Industrial | ||||||
19 | Jobs Recovery Law in the Illinois Municipal Code, or previously
| ||||||
20 | established under the Economic Development Area Tax Increment | ||||||
21 | Allocation Act,
by an amount equal to the 1994 equalized | ||||||
22 | assessed value of each taxable lot,
block, tract, or parcel of | ||||||
23 | real property in the redevelopment project area over
and above | ||||||
24 | the initial equalized assessed value of each property in the
| ||||||
25 | redevelopment project area.
In the first year after a | ||||||
26 | municipality
removes a taxable lot, block, tract, or parcel of |
| |||||||
| |||||||
1 | real property from a
redevelopment project area established | ||||||
2 | under the Tax Increment Allocation
Development Act in the | ||||||
3 | Illinois
Municipal Code, the Industrial Jobs Recovery Law
in | ||||||
4 | the Illinois Municipal Code, or the Economic
Development Area | ||||||
5 | Tax Increment Allocation Act, "recovered tax increment value"
| ||||||
6 | means the amount of the current year's equalized assessed value | ||||||
7 | of each taxable
lot, block, tract, or parcel of real property | ||||||
8 | removed from the redevelopment
project area over and above the | ||||||
9 | initial equalized assessed value of that real
property before | ||||||
10 | removal from the redevelopment project area.
| ||||||
11 | Except as otherwise provided in this Section, "limiting | ||||||
12 | rate" means a
fraction the numerator of which is the last
| ||||||
13 | preceding aggregate extension base times an amount equal to one | ||||||
14 | plus the
extension limitation defined in this Section and the | ||||||
15 | denominator of which
is the current year's equalized assessed | ||||||
16 | value of all real property in the
territory under the | ||||||
17 | jurisdiction of the taxing district during the prior
levy year. | ||||||
18 | If an increase in the district's aggregate extension has been | ||||||
19 | approved by referendum on or after January 1, 2020, then, for | ||||||
20 | the year for which the increase has been approved, the limiting | ||||||
21 | rate for that district shall be a fraction, the numerator of | ||||||
22 | which is the sum of (i) the last
preceding aggregate extension | ||||||
23 | base times an amount equal to one plus the
extension limitation | ||||||
24 | defined in this Section and (ii) the amount of the increase | ||||||
25 | approved by referendum under Section 18-190.3 of this Law, and | ||||||
26 | the denominator of which
is the current year's equalized |
| |||||||
| |||||||
1 | assessed value of all real property in the
territory under the | ||||||
2 | jurisdiction of the taxing district during the prior
levy year. | ||||||
3 | For those taxing districts that reduced their aggregate
| ||||||
4 | extension for the last preceding levy year, except for school | ||||||
5 | districts that reduced their extension for educational | ||||||
6 | purposes pursuant to Section 18-206, the highest aggregate | ||||||
7 | extension
in any of the last 3 preceding levy years shall be | ||||||
8 | used for the purpose of
computing the limiting rate. The | ||||||
9 | denominator shall not include new
property or the recovered tax | ||||||
10 | increment
value.
If a new rate, a rate decrease, or a limiting | ||||||
11 | rate increase has been approved at an election held after March | ||||||
12 | 21, 2006, then (i) the otherwise applicable limiting rate shall | ||||||
13 | be increased by the amount of the new rate or shall be reduced | ||||||
14 | by the amount of the rate decrease, as the case may be, or (ii) | ||||||
15 | in the case of a limiting rate increase, the limiting rate | ||||||
16 | shall be equal to the rate set forth
in the proposition | ||||||
17 | approved by the voters for each of the years specified in the | ||||||
18 | proposition, after
which the limiting rate of the taxing | ||||||
19 | district shall be calculated as otherwise provided. In the case | ||||||
20 | of a taxing district that obtained referendum approval for an | ||||||
21 | increased limiting rate on March 20, 2012, the limiting rate | ||||||
22 | for tax year 2012 shall be the rate that generates the | ||||||
23 | approximate total amount of taxes extendable for that tax year, | ||||||
24 | as set forth in the proposition approved by the voters; this | ||||||
25 | rate shall be the final rate applied by the county clerk for | ||||||
26 | the aggregate of all capped funds of the district for tax year |
| |||||||
| |||||||
1 | 2012.
| ||||||
2 | (Source: P.A. 99-143, eff. 7-27-15; 99-521, eff. 6-1-17; | ||||||
3 | 100-465, eff. 8-31-17.)
| ||||||
4 | (35 ILCS 200/18-190.3 new) | ||||||
5 | Sec. 18-190.3. Direct referendum; increased aggregate | ||||||
6 | extension. As an alternative to the procedures set forth in | ||||||
7 | Sections 18-190 and 18-205, a taxing district may increase its | ||||||
8 | aggregate extension to an amount that exceeds the amount that | ||||||
9 | would otherwise be permitted under this Law if the taxing | ||||||
10 | district obtains referendum approval as provided in this | ||||||
11 | Section. | ||||||
12 | The proposition seeking to obtain referendum approval to | ||||||
13 | increase the aggregate extension shall be in substantially the | ||||||
14 | following form: | ||||||
15 | "Shall the aggregate extension (the total dollar | ||||||
16 | amount levied by the district for each of the tax funds | ||||||
17 | included under the Property Tax Limitation Law) | ||||||
18 | for...(insert legal name, number, if any, and county or | ||||||
19 | counties of taxing district and geographic or other common | ||||||
20 | name by which a school or community college district is | ||||||
21 | known and referred to), Illinois, be increased by (insert | ||||||
22 | the amount of increase sought) for levy year...(insert the | ||||||
23 | levy year for which the increase will take effect)?" | ||||||
24 | The votes must be recorded as "Yes" or "No". | ||||||
25 | The ballot for any proposition submitted pursuant to this |
| |||||||
| |||||||
1 | Section shall have printed thereon, but not as a part of the | ||||||
2 | proposition submitted, only the following supplemental | ||||||
3 | information (which shall be supplied to the election authority | ||||||
4 | by the taxing district) in substantially the following form: | ||||||
5 | "(1) The amount of taxes extended which were subject to | ||||||
6 | the Property Tax Cap (Property Tax Extension Limitation | ||||||
7 | Law) in levy year (insert most recent levy year) was | ||||||
8 | (insert the most recent levy year's aggregate extension | ||||||
9 | base). If the proposition is not approved, then the taxing | ||||||
10 | district may increase its extension by the lesser of 5% or | ||||||
11 | the percentage increase in the Consumer Price Index during | ||||||
12 | the 12-month calendar year preceding (insert levy year). If | ||||||
13 | the proposition is approved, then the taxing district may | ||||||
14 | increase its extension in levy year (insert levy year) by | ||||||
15 | an additional (insert the amount of increase sought). | ||||||
16 | (2) For the...(insert levy year for which
the increase | ||||||
17 | will be applicable) levy year, the approximate amount of | ||||||
18 | the additional tax extendable against property containing | ||||||
19 | a single family residence and having a fair market value at | ||||||
20 | the time of the referendum of $100,000 is estimated to be | ||||||
21 | (insert amount).". | ||||||
22 | The approximate amount of the additional taxes extendable | ||||||
23 | shown in paragraph (2) shall be calculated by multiplying | ||||||
24 | $100,000 (the fair market value of the property without regard | ||||||
25 | to any property tax exemptions) by (i) the percentage level of | ||||||
26 | assessment prescribed for that property by statute, or by |
| |||||||
| |||||||
1 | ordinance of the county board in counties that classify | ||||||
2 | property for purposes of taxation in accordance with Section 4 | ||||||
3 | of Article IX of the Illinois Constitution; (ii) the most | ||||||
4 | recent final equalization factor certified to the county clerk | ||||||
5 | by the Department of Revenue at the time the taxing district | ||||||
6 | initiates the submission of the proposition to the electors; | ||||||
7 | and (iii) the increase in the aggregate extension proposed in | ||||||
8 | the question; and dividing the result by the last known | ||||||
9 | equalized assessed value of the taxing district at the time the | ||||||
10 | submission of the question is initiated by the taxing district. | ||||||
11 | Any notice required to be published in connection with the | ||||||
12 | submission of the proposition shall also contain this | ||||||
13 | supplemental information and shall not contain any other | ||||||
14 | supplemental information regarding the proposition. Any error, | ||||||
15 | miscalculation, or inaccuracy in computing any amount set forth | ||||||
16 | on the ballot and in the notice that is not deliberate shall | ||||||
17 | not invalidate or affect the validity of any proposition | ||||||
18 | approved. Notice of the referendum shall be published and | ||||||
19 | posted as otherwise required by law, and the submission of the | ||||||
20 | proposition shall be initiated as provided by law. | ||||||
21 | If a majority of all ballots cast on the proposition are in | ||||||
22 | favor of the proposition, then the district may increase its | ||||||
23 | aggregate extension as provided in the referendum.
|