Bill Text: IL HB3591 | 2009-2010 | 96th General Assembly | Introduced

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Bill Title: Amends the O'Hare Modernization Act. Makes a technical change in a Section regarding reimbursement for tax base losses.

Sponsorship: Partisan Bill (Republican 2)

Status: (Introduced - Dead) 2009-04-03 - Rule 19(a) / Re-referred to Rules Committee [HB3591 Detail]

Download: Illinois-2009-HB3591-Introduced.html

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96TH GENERAL ASSEMBLY State of Illinois 2009 and 2010 HB3591 Introduced 2/24/2009, by Rep. Tom Cross - Dennis M. Reboletti SYNOPSIS AS INTRODUCED:
620 ILCS 65/21
Amends the O'Hare Modernization Act. Makes a technical change in a Section regarding reimbursement for tax base losses.
LRB096 10473 AJT 20645 b
A BILL FOR
HB3591 LRB096 10473 AJT 20645 b
AN ACT concerning transportation.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The O'Hare Modernization Act is amended by
changing Section 21 as follows:
(620 ILCS 65/21)
Sec. 21. Reimbursement for tax base losses.
(a) Whenever the the City acquires parcels of property
within any school district or community college district for
the O'Hare Modernization Program, the City shall, for the
following taxable year and for each of the 5 taxable years
thereafter, pay to that district the amount of the total
property tax liability of the acquired parcels to the district
for the 2002 taxable year, increased or decreased each year by
the percentage change of the district's total tax extension for
the current taxable year from the total tax extension for the
prior taxable year; provided that no annual increase shall
exceed the lesser of 5% or the annual increase in the Consumer
Price Index. Funds payable by the City under this Section shall
be paid exclusively from non-tax revenues generated at airports
owned by the City, and shall not exceed the amount of those
funds that can be paid for that purpose under 49 U.S.C.
47107(l)(2).

HB3591 - 2 - LRB096 10473 AJT 20645 b
(b) Notwithstanding any other provision of this Section:
(i) no funds shall be payable by the City under this Section
with respect to any taxable year succeeding the 2009 taxable
year; (ii) in no event shall such funds be payable on or after
January 1, 2010; (iii) in no event shall the total funds paid
by the City pursuant to this Section to all districts for all
taxable years exceed $20,000,000; and (iv) any amounts payable
to a district by the City with respect to any parcel of
property for any taxable year shall be reduced by the amount of
taxes actually paid to the district for that taxable year with
respect to that parcel or any leasehold interest therein.
(c) Whenever the City acquires property that is subject to
this Section, the City shall notify the assessor of the county
in which the property is located. The assessor or the clerk of
that county shall, on an annual basis, notify the affected
school district or community college district of all property
that has been identified as being subject to this Section, and
shall provide the district and the City with such information
as may be required in determining the amounts payable by the
City under this Section. The City shall make payments as
required by this Section no later than 90 days after that
information is received and verified by the City.
(d) As used in this Section, "Consumer Price Index" means
the Consumer Price Index for All Urban Consumers for all items
published by the United States Department of Labor.
(Source: P.A. 93-450, eff. 8-6-03.)