Bill Text: IL SB0196 | 2023-2024 | 103rd General Assembly | Introduced
Bill Title: Amends the Property Tax Extension Limitation Law in the Property Tax Code. Provides that a taxing district shall reduce its aggregate extension base for the purpose of lowering its limiting rate for future years upon referendum approval initiated by the submission of a petition by the voters of the district. Provides that the extension limitation shall be: (a) the lesser of 5% or the average percentage increase in the Consumer Price Index for the 10 years immediately preceding the levy year for which the extension limitation is being calculated; or (b) the rate of increase approved by the voters. Effective immediately.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced) 2023-01-31 - Referred to Assignments [SB0196 Detail]
Download: Illinois-2023-SB0196-Introduced.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 | Sections 18-185, 18-205, and 18-212 and by adding Section | |||||||||||||||||||||||||
6 | 18-207 as follows:
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7 | (35 ILCS 200/18-185)
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8 | Sec. 18-185. Short title; definitions. This Division 5 | |||||||||||||||||||||||||
9 | may be cited as the
Property Tax Extension Limitation Law. As | |||||||||||||||||||||||||
10 | used in this Division 5:
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11 | "Consumer Price Index" means the Consumer Price Index for | |||||||||||||||||||||||||
12 | All Urban
Consumers for all items published by the United | |||||||||||||||||||||||||
13 | States Department of Labor.
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14 | "Extension limitation" means , for taxable years prior to | |||||||||||||||||||||||||
15 | 2024: (a) the lesser of 5% or the percentage increase
in the | |||||||||||||||||||||||||
16 | Consumer Price Index during the 12-month calendar year | |||||||||||||||||||||||||
17 | preceding the
levy year ; or (b) the rate of increase approved | |||||||||||||||||||||||||
18 | by voters under Section 18-205.
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19 | "Extension limitation" means, for taxable year 2024 and | |||||||||||||||||||||||||
20 | thereafter: (a) the lesser of 5% or the average percentage | |||||||||||||||||||||||||
21 | increase in the Consumer Price Index for the 10 years | |||||||||||||||||||||||||
22 | immediately preceding the levy year for which the extension | |||||||||||||||||||||||||
23 | limitation is being calculated; or (b) the rate of increase |
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1 | approved by voters under Section 18-205. | ||||||
2 | "Affected county" means a county of 3,000,000 or more | ||||||
3 | inhabitants or a
county contiguous to a county of 3,000,000 or | ||||||
4 | more inhabitants.
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5 | "Taxing district" has the same meaning provided in Section | ||||||
6 | 1-150, except as
otherwise provided in this Section. For the | ||||||
7 | 1991 through 1994 levy years only,
"taxing district" includes | ||||||
8 | only each non-home rule taxing district having the
majority of | ||||||
9 | its
1990 equalized assessed value within any county or | ||||||
10 | counties contiguous to a
county with 3,000,000 or more | ||||||
11 | inhabitants. Beginning with the 1995 levy
year, "taxing | ||||||
12 | district" includes only each non-home rule taxing district
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13 | subject to this Law before the 1995 levy year and each non-home | ||||||
14 | rule
taxing district not subject to this Law before the 1995 | ||||||
15 | levy year having the
majority of its 1994 equalized assessed | ||||||
16 | value in an affected county or
counties. Beginning with the | ||||||
17 | levy year in
which this Law becomes applicable to a taxing | ||||||
18 | district as
provided in Section 18-213, "taxing district" also | ||||||
19 | includes those taxing
districts made subject to this Law as | ||||||
20 | provided in Section 18-213.
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21 | "Aggregate extension" for taxing districts to which this | ||||||
22 | Law applied before
the 1995 levy year means the annual | ||||||
23 | corporate extension for the taxing
district and those special | ||||||
24 | purpose extensions that are made annually for
the taxing | ||||||
25 | district, excluding special purpose extensions: (a) made for | ||||||
26 | the
taxing district to pay interest or principal on general |
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1 | obligation bonds
that were approved by referendum; (b) made | ||||||
2 | for any taxing district to pay
interest or principal on | ||||||
3 | general obligation bonds issued before October 1,
1991; (c) | ||||||
4 | made for any taxing district to pay interest or principal on | ||||||
5 | bonds
issued to refund or continue to refund those bonds | ||||||
6 | issued before October 1,
1991; (d)
made for any taxing | ||||||
7 | district to pay interest or principal on bonds
issued to | ||||||
8 | refund or continue to refund bonds issued after October 1, | ||||||
9 | 1991 that
were approved by referendum; (e)
made for any taxing | ||||||
10 | district to pay interest
or principal on revenue bonds issued | ||||||
11 | before October 1, 1991 for payment of
which a property tax levy | ||||||
12 | or the full faith and credit of the unit of local
government is | ||||||
13 | pledged; however, a tax for the payment of interest or | ||||||
14 | principal
on those bonds shall be made only after the | ||||||
15 | governing body of the unit of local
government finds that all | ||||||
16 | other sources for payment are insufficient to make
those | ||||||
17 | payments; (f) made for payments under a building commission | ||||||
18 | lease when
the lease payments are for the retirement of bonds | ||||||
19 | issued by the commission
before October 1, 1991, to pay for the | ||||||
20 | building project; (g) made for payments
due under installment | ||||||
21 | contracts entered into before October 1, 1991;
(h) made for | ||||||
22 | payments of principal and interest on bonds issued under the
| ||||||
23 | Metropolitan Water Reclamation District Act to finance | ||||||
24 | construction projects
initiated before October 1, 1991; (i) | ||||||
25 | made for payments of principal and
interest on limited bonds, | ||||||
26 | as defined in Section 3 of the Local Government Debt
Reform |
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1 | Act, in an amount not to exceed the debt service extension base | ||||||
2 | less
the amount in items (b), (c), (e), and (h) of this | ||||||
3 | definition for
non-referendum obligations, except obligations | ||||||
4 | initially issued pursuant to
referendum; (j) made for payments | ||||||
5 | of principal and interest on bonds
issued under Section 15 of | ||||||
6 | the Local Government Debt Reform Act; (k)
made
by a school | ||||||
7 | district that participates in the Special Education District | ||||||
8 | of
Lake County, created by special education joint agreement | ||||||
9 | under Section
10-22.31 of the School Code, for payment of the | ||||||
10 | school district's share of the
amounts required to be | ||||||
11 | contributed by the Special Education District of Lake
County | ||||||
12 | to the Illinois Municipal Retirement Fund under Article 7 of | ||||||
13 | the
Illinois Pension Code; the amount of any extension under | ||||||
14 | this item (k) shall be
certified by the school district to the | ||||||
15 | county clerk; (l) made to fund
expenses of providing joint | ||||||
16 | recreational programs for persons with disabilities under
| ||||||
17 | Section 5-8 of
the
Park District Code or Section 11-95-14 of | ||||||
18 | the Illinois Municipal Code; (m) made for temporary relocation | ||||||
19 | loan repayment purposes pursuant to Sections 2-3.77 and | ||||||
20 | 17-2.2d of the School Code; (n) made for payment of principal | ||||||
21 | and interest on any bonds issued under the authority of | ||||||
22 | Section 17-2.2d of the School Code; (o) made for contributions | ||||||
23 | to a firefighter's pension fund created under Article 4 of the | ||||||
24 | Illinois Pension Code, to the extent of the amount certified | ||||||
25 | under item (5) of Section 4-134 of the Illinois Pension Code; | ||||||
26 | and (p) made for road purposes in the first year after a |
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1 | township assumes the rights, powers, duties, assets, property, | ||||||
2 | liabilities, obligations, and
responsibilities of a road | ||||||
3 | district abolished under the provisions of Section 6-133 of | ||||||
4 | the Illinois Highway Code.
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5 | "Aggregate extension" for the taxing districts to which | ||||||
6 | this Law did not
apply before the 1995 levy year (except taxing | ||||||
7 | districts subject to this Law
in
accordance with Section | ||||||
8 | 18-213) means the annual corporate extension for the
taxing | ||||||
9 | district and those special purpose extensions that are made | ||||||
10 | annually for
the taxing district, excluding special purpose | ||||||
11 | extensions: (a) made for the
taxing district to pay interest | ||||||
12 | or principal on general obligation bonds that
were approved by | ||||||
13 | referendum; (b) made for any taxing district to pay interest
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14 | or principal on general obligation bonds issued before March | ||||||
15 | 1, 1995; (c) made
for any taxing district to pay interest or | ||||||
16 | principal on bonds issued to refund
or continue to refund | ||||||
17 | those bonds issued before March 1, 1995; (d) made for any
| ||||||
18 | taxing district to pay interest or principal on bonds issued | ||||||
19 | to refund or
continue to refund bonds issued after March 1, | ||||||
20 | 1995 that were approved by
referendum; (e) made for any taxing | ||||||
21 | district to pay interest or principal on
revenue bonds issued | ||||||
22 | before March 1, 1995 for payment of which a property tax
levy | ||||||
23 | or the full faith and credit of the unit of local government is | ||||||
24 | pledged;
however, a tax for the payment of interest or | ||||||
25 | principal on those bonds shall be
made only after the | ||||||
26 | governing body of the unit of local government finds that
all |
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1 | other sources for payment are insufficient to make those | ||||||
2 | payments; (f) made
for payments under a building commission | ||||||
3 | lease when the lease payments are for
the retirement of bonds | ||||||
4 | issued by the commission before March 1, 1995 to
pay for the | ||||||
5 | building project; (g) made for payments due under installment
| ||||||
6 | contracts entered into before March 1, 1995; (h) made for | ||||||
7 | payments of
principal and interest on bonds issued under the | ||||||
8 | Metropolitan Water Reclamation
District Act to finance | ||||||
9 | construction projects initiated before October 1,
1991; (h-4) | ||||||
10 | made for stormwater management purposes by the Metropolitan | ||||||
11 | Water Reclamation District of Greater Chicago under Section 12 | ||||||
12 | of the Metropolitan Water Reclamation District Act; (h-8) made | ||||||
13 | for payments of principal and interest on bonds issued under | ||||||
14 | Section 9.6a of the Metropolitan Water Reclamation District | ||||||
15 | Act to make contributions to the pension fund established | ||||||
16 | under Article 13 of the Illinois Pension Code; (i) made for | ||||||
17 | payments of principal and interest on limited bonds,
as | ||||||
18 | defined in Section 3 of the Local Government Debt Reform Act, | ||||||
19 | in an amount
not to exceed the debt service extension base less | ||||||
20 | the amount in items (b),
(c), and (e) of this definition for | ||||||
21 | non-referendum obligations, except
obligations initially | ||||||
22 | issued pursuant to referendum and bonds described in
| ||||||
23 | subsections (h) and (h-8) of this definition; (j) made for | ||||||
24 | payments of
principal and interest on bonds issued under | ||||||
25 | Section 15 of the Local Government
Debt Reform Act; (k) made | ||||||
26 | for payments of principal and interest on bonds
authorized by |
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1 | Public Act 88-503 and issued under Section 20a of the Chicago
| ||||||
2 | Park District Act for aquarium or
museum projects and bonds | ||||||
3 | issued under Section 20a of the Chicago Park District Act for | ||||||
4 | the purpose of making contributions to the pension fund | ||||||
5 | established under Article 12 of the Illinois Pension Code; (l) | ||||||
6 | made for payments of principal and interest on
bonds
| ||||||
7 | authorized by Public Act 87-1191 or 93-601 and (i) issued | ||||||
8 | pursuant to Section 21.2 of the Cook County Forest
Preserve | ||||||
9 | District Act, (ii) issued under Section 42 of the Cook County
| ||||||
10 | Forest Preserve District Act for zoological park projects, or | ||||||
11 | (iii) issued
under Section 44.1 of the Cook County Forest | ||||||
12 | Preserve District Act for
botanical gardens projects; (m) made
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13 | pursuant
to Section 34-53.5 of the School Code, whether levied | ||||||
14 | annually or not;
(n) made to fund expenses of providing joint | ||||||
15 | recreational programs for persons with disabilities under | ||||||
16 | Section 5-8 of the Park
District Code or Section 11-95-14 of | ||||||
17 | the Illinois Municipal Code;
(o) made by the
Chicago Park
| ||||||
18 | District for recreational programs for persons with | ||||||
19 | disabilities under subsection (c) of
Section
7.06 of the | ||||||
20 | Chicago Park District Act; (p) made for contributions to a | ||||||
21 | firefighter's pension fund created under Article 4 of the | ||||||
22 | Illinois Pension Code, to the extent of the amount certified | ||||||
23 | under item (5) of Section 4-134 of the Illinois Pension Code; | ||||||
24 | (q) made by Ford Heights School District 169 under Section | ||||||
25 | 17-9.02 of the School Code; and (r) made for the purpose of | ||||||
26 | making employer contributions to the Public School Teachers' |
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| |||||||
1 | Pension and Retirement Fund of Chicago under Section 34-53 of | ||||||
2 | the School Code.
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3 | "Aggregate extension" for all taxing districts to which | ||||||
4 | this Law applies in
accordance with Section 18-213, except for | ||||||
5 | those taxing districts subject to
paragraph (2) of subsection | ||||||
6 | (e) of Section 18-213, means the annual corporate
extension | ||||||
7 | for the
taxing district and those special purpose extensions | ||||||
8 | that are made annually for
the taxing district, excluding | ||||||
9 | special purpose extensions: (a) made for the
taxing district | ||||||
10 | to pay interest or principal on general obligation bonds that
| ||||||
11 | were approved by referendum; (b) made for any taxing district | ||||||
12 | to pay interest
or principal on general obligation bonds | ||||||
13 | issued before the date on which the
referendum making this
Law | ||||||
14 | applicable to the taxing district is held; (c) made
for any | ||||||
15 | taxing district to pay interest or principal on bonds issued | ||||||
16 | to refund
or continue to refund those bonds issued before the | ||||||
17 | date on which the
referendum making this Law
applicable to the | ||||||
18 | taxing district is held;
(d) made for any
taxing district to | ||||||
19 | pay interest or principal on bonds issued to refund or
| ||||||
20 | continue to refund bonds issued after the date on which the | ||||||
21 | referendum making
this Law
applicable to the taxing district | ||||||
22 | is held if the bonds were approved by
referendum after the date | ||||||
23 | on which the referendum making this Law
applicable to the | ||||||
24 | taxing district is held; (e) made for any
taxing district to | ||||||
25 | pay interest or principal on
revenue bonds issued before the | ||||||
26 | date on which the referendum making this Law
applicable to the
|
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1 | taxing district is held for payment of which a property tax
| ||||||
2 | levy or the full faith and credit of the unit of local | ||||||
3 | government is pledged;
however, a tax for the payment of | ||||||
4 | interest or principal on those bonds shall be
made only after | ||||||
5 | the governing body of the unit of local government finds that
| ||||||
6 | all other sources for payment are insufficient to make those | ||||||
7 | payments; (f) made
for payments under a building commission | ||||||
8 | lease when the lease payments are for
the retirement of bonds | ||||||
9 | issued by the commission before the date on which the
| ||||||
10 | referendum making this
Law applicable to the taxing district | ||||||
11 | is held to
pay for the building project; (g) made for payments | ||||||
12 | due under installment
contracts entered into before the date | ||||||
13 | on which the referendum making this Law
applicable to
the | ||||||
14 | taxing district is held;
(h) made for payments
of principal | ||||||
15 | and interest on limited bonds,
as defined in Section 3 of the | ||||||
16 | Local Government Debt Reform Act, in an amount
not to exceed | ||||||
17 | the debt service extension base less the amount in items (b),
| ||||||
18 | (c), and (e) of this definition for non-referendum | ||||||
19 | obligations, except
obligations initially issued pursuant to | ||||||
20 | referendum; (i) made for payments
of
principal and interest on | ||||||
21 | bonds issued under Section 15 of the Local Government
Debt | ||||||
22 | Reform Act;
(j)
made for a qualified airport authority to pay | ||||||
23 | interest or principal on
general obligation bonds issued for | ||||||
24 | the purpose of paying obligations due
under, or financing | ||||||
25 | airport facilities required to be acquired, constructed,
| ||||||
26 | installed or equipped pursuant to, contracts entered into |
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1 | before March
1, 1996 (but not including any amendments to such | ||||||
2 | a contract taking effect on
or after that date); (k) made to | ||||||
3 | fund expenses of providing joint
recreational programs for | ||||||
4 | persons with disabilities under Section 5-8 of
the
Park | ||||||
5 | District Code or Section 11-95-14 of the Illinois Municipal | ||||||
6 | Code; (l) made for contributions to a firefighter's pension | ||||||
7 | fund created under Article 4 of the Illinois Pension Code, to | ||||||
8 | the extent of the amount certified under item (5) of Section | ||||||
9 | 4-134 of the Illinois Pension Code; and (m) made for the taxing | ||||||
10 | district to pay interest or principal on general obligation | ||||||
11 | bonds issued pursuant to Section 19-3.10 of the School Code.
| ||||||
12 | "Aggregate extension" for all taxing districts to which | ||||||
13 | this Law applies in
accordance with paragraph (2) of | ||||||
14 | subsection (e) of Section 18-213 means the
annual corporate | ||||||
15 | extension for the
taxing district and those special purpose | ||||||
16 | extensions that are made annually for
the taxing district, | ||||||
17 | excluding special purpose extensions: (a) made for the
taxing | ||||||
18 | district to pay interest or principal on general obligation | ||||||
19 | bonds that
were approved by referendum; (b) made for any | ||||||
20 | taxing district to pay interest
or principal on general | ||||||
21 | obligation bonds issued before March 7, 1997 (the effective | ||||||
22 | date of Public Act 89-718);
(c) made
for any taxing district to | ||||||
23 | pay interest or principal on bonds issued to refund
or | ||||||
24 | continue to refund those bonds issued before March 7, 1997 | ||||||
25 | (the effective date
of Public Act 89-718);
(d) made for any
| ||||||
26 | taxing district to pay interest or principal on bonds issued |
| |||||||
| |||||||
1 | to refund or
continue to refund bonds issued after March 7, | ||||||
2 | 1997 (the effective date of Public Act 89-718) if the bonds | ||||||
3 | were approved by referendum after March 7, 1997 (the effective | ||||||
4 | date of Public Act 89-718);
(e) made for any
taxing district to | ||||||
5 | pay interest or principal on
revenue bonds issued before March | ||||||
6 | 7, 1997 (the effective date of Public Act 89-718)
for payment | ||||||
7 | of which a property tax
levy or the full faith and credit of | ||||||
8 | the unit of local government is pledged;
however, a tax for the | ||||||
9 | payment of interest or principal on those bonds shall be
made | ||||||
10 | only after the governing body of the unit of local government | ||||||
11 | finds that
all other sources for payment are insufficient to | ||||||
12 | make those payments; (f) made
for payments under a building | ||||||
13 | commission lease when the lease payments are for
the | ||||||
14 | retirement of bonds issued by the commission before March 7, | ||||||
15 | 1997 (the effective date
of Public Act 89-718)
to
pay for the | ||||||
16 | building project; (g) made for payments due under installment
| ||||||
17 | contracts entered into before March 7, 1997 (the effective | ||||||
18 | date of Public Act 89-718);
(h) made for payments
of principal | ||||||
19 | and interest on limited bonds,
as defined in Section 3 of the | ||||||
20 | Local Government Debt Reform Act, in an amount
not to exceed | ||||||
21 | the debt service extension base less the amount in items (b),
| ||||||
22 | (c), and (e) of this definition for non-referendum | ||||||
23 | obligations, except
obligations initially issued pursuant to | ||||||
24 | referendum; (i) made for payments
of
principal and interest on | ||||||
25 | bonds issued under Section 15 of the Local Government
Debt | ||||||
26 | Reform Act;
(j)
made for a qualified airport authority to pay |
| |||||||
| |||||||
1 | interest or principal on
general obligation bonds issued for | ||||||
2 | the purpose of paying obligations due
under, or financing | ||||||
3 | airport facilities required to be acquired, constructed,
| ||||||
4 | installed or equipped pursuant to, contracts entered into | ||||||
5 | before March
1, 1996 (but not including any amendments to such | ||||||
6 | a contract taking effect on
or after that date); (k) made to | ||||||
7 | fund expenses of providing joint
recreational programs for | ||||||
8 | persons with disabilities under Section 5-8 of
the
Park | ||||||
9 | District Code or Section 11-95-14 of the Illinois Municipal | ||||||
10 | Code; and (l) made for contributions to a firefighter's | ||||||
11 | pension fund created under Article 4 of the Illinois Pension | ||||||
12 | Code, to the extent of the amount certified under item (5) of | ||||||
13 | Section 4-134 of the Illinois Pension Code.
| ||||||
14 | "Debt service extension base" means an amount equal to | ||||||
15 | that portion of the
extension for a taxing district for the | ||||||
16 | 1994 levy year, or for those taxing
districts subject to this | ||||||
17 | Law in accordance with Section 18-213, except for
those | ||||||
18 | subject to paragraph (2) of subsection (e) of Section 18-213, | ||||||
19 | for the
levy
year in which the referendum making this Law | ||||||
20 | applicable to the taxing district
is held, or for those taxing | ||||||
21 | districts subject to this Law in accordance with
paragraph (2) | ||||||
22 | of subsection (e) of Section 18-213 for the 1996 levy year,
| ||||||
23 | constituting an
extension for payment of principal and | ||||||
24 | interest on bonds issued by the taxing
district without | ||||||
25 | referendum, but not including excluded non-referendum bonds. | ||||||
26 | For park districts (i) that were first
subject to this Law in |
| |||||||
| |||||||
1 | 1991 or 1995 and (ii) whose extension for the 1994 levy
year | ||||||
2 | for the payment of principal and interest on bonds issued by | ||||||
3 | the park
district without referendum (but not including | ||||||
4 | excluded non-referendum bonds)
was less than 51% of the amount | ||||||
5 | for the 1991 levy year constituting an
extension for payment | ||||||
6 | of principal and interest on bonds issued by the park
district | ||||||
7 | without referendum (but not including excluded non-referendum | ||||||
8 | bonds),
"debt service extension base" means an amount equal to | ||||||
9 | that portion of the
extension for the 1991 levy year | ||||||
10 | constituting an extension for payment of
principal and | ||||||
11 | interest on bonds issued by the park district without | ||||||
12 | referendum
(but not including excluded non-referendum bonds). | ||||||
13 | A debt service extension base established or increased at any | ||||||
14 | time pursuant to any provision of this Law, except Section | ||||||
15 | 18-212, shall be increased each year commencing with the later | ||||||
16 | of (i) the 2009 levy year or (ii) the first levy year in which | ||||||
17 | this Law becomes applicable to the taxing district, by the | ||||||
18 | extension limitation lesser of 5% or the percentage increase | ||||||
19 | in the Consumer Price Index during the 12-month calendar year | ||||||
20 | preceding the levy year . The debt service extension
base may | ||||||
21 | be established or increased as provided under Section 18-212.
| ||||||
22 | "Excluded non-referendum bonds" means (i) bonds authorized by | ||||||
23 | Public
Act 88-503 and issued under Section 20a of the Chicago | ||||||
24 | Park District Act for
aquarium and museum projects; (ii) bonds | ||||||
25 | issued under Section 15 of the
Local Government Debt Reform | ||||||
26 | Act; or (iii) refunding obligations issued
to refund or to |
| |||||||
| |||||||
1 | continue to refund obligations initially issued pursuant to
| ||||||
2 | referendum.
| ||||||
3 | "Special purpose extensions" include, but are not limited | ||||||
4 | to, extensions
for levies made on an annual basis for | ||||||
5 | unemployment and workers'
compensation, self-insurance, | ||||||
6 | contributions to pension plans, and extensions
made pursuant | ||||||
7 | to Section 6-601 of the Illinois Highway Code for a road
| ||||||
8 | district's permanent road fund whether levied annually or not. | ||||||
9 | The
extension for a special service area is not included in the
| ||||||
10 | aggregate extension.
| ||||||
11 | "Aggregate extension base" means the taxing district's | ||||||
12 | last preceding
aggregate extension as adjusted under Sections | ||||||
13 | 18-135, 18-215,
18-230, 18-206, and 18-233. Beginning with | ||||||
14 | levy year 2022, for taxing districts that are specified in | ||||||
15 | Section 18-190.7, the taxing district's aggregate extension | ||||||
16 | base shall be calculated as provided in Section 18-190.7.
An | ||||||
17 | adjustment under Section 18-135 shall be made for the 2007 | ||||||
18 | levy year and all subsequent levy years whenever one or more | ||||||
19 | counties within which a taxing district is located (i) used | ||||||
20 | estimated valuations or rates when extending taxes in the | ||||||
21 | taxing district for the last preceding levy year that resulted | ||||||
22 | in the over or under extension of taxes, or (ii) increased or | ||||||
23 | decreased the tax extension for the last preceding levy year | ||||||
24 | as required by Section 18-135(c). Whenever an adjustment is | ||||||
25 | required under Section 18-135, the aggregate extension base of | ||||||
26 | the taxing district shall be equal to the amount that the |
| |||||||
| |||||||
1 | aggregate extension of the taxing district would have been for | ||||||
2 | the last preceding levy year if either or both (i) actual, | ||||||
3 | rather than estimated, valuations or rates had been used to | ||||||
4 | calculate the extension of taxes for the last levy year, or | ||||||
5 | (ii) the tax extension for the last preceding levy year had not | ||||||
6 | been adjusted as required by subsection (c) of Section 18-135.
| ||||||
7 | Notwithstanding any other provision of law, for levy year | ||||||
8 | 2012, the aggregate extension base for West Northfield School | ||||||
9 | District No. 31 in Cook County shall be $12,654,592. | ||||||
10 | Notwithstanding any other provision of law, for levy year | ||||||
11 | 2022, the aggregate extension base of a home equity assurance | ||||||
12 | program that levied at least $1,000,000 in property taxes in | ||||||
13 | levy year 2019 or 2020 under the Home Equity Assurance Act | ||||||
14 | shall be the amount that the program's aggregate extension | ||||||
15 | base for levy year 2021 would have been if the program had | ||||||
16 | levied a property tax for levy year 2021. | ||||||
17 | "Levy year" has the same meaning as "year" under Section
| ||||||
18 | 1-155.
| ||||||
19 | "New property" means (i) the assessed value, after final | ||||||
20 | board of review or
board of appeals action, of new | ||||||
21 | improvements or additions to existing
improvements on any | ||||||
22 | parcel of real property that increase the assessed value of
| ||||||
23 | that real property during the levy year multiplied by the | ||||||
24 | equalization factor
issued by the Department under Section | ||||||
25 | 17-30, (ii) the assessed value, after
final board of review or | ||||||
26 | board of appeals action, of real property not exempt
from real |
| |||||||
| |||||||
1 | estate taxation, which real property was exempt from real | ||||||
2 | estate
taxation for any portion of the immediately preceding | ||||||
3 | levy year, multiplied by
the equalization factor issued by the | ||||||
4 | Department under Section 17-30, including the assessed value, | ||||||
5 | upon final stabilization of occupancy after new construction | ||||||
6 | is complete, of any real property located within the | ||||||
7 | boundaries of an otherwise or previously exempt military | ||||||
8 | reservation that is intended for residential use and owned by | ||||||
9 | or leased to a private corporation or other entity,
(iii) in | ||||||
10 | counties that classify in accordance with Section 4 of Article
| ||||||
11 | IX of the
Illinois Constitution, an incentive property's | ||||||
12 | additional assessed value
resulting from a
scheduled increase | ||||||
13 | in the level of assessment as applied to the first year
final | ||||||
14 | board of
review market value, and (iv) any increase in | ||||||
15 | assessed value due to oil or gas production from an oil or gas | ||||||
16 | well required to be permitted under the Hydraulic Fracturing | ||||||
17 | Regulatory Act that was not produced in or accounted for | ||||||
18 | during the previous levy year.
In addition, the county clerk | ||||||
19 | in a county containing a population of
3,000,000 or more shall | ||||||
20 | include in the 1997
recovered tax increment value for any | ||||||
21 | school district, any recovered tax
increment value that was | ||||||
22 | applicable to the 1995 tax year calculations.
| ||||||
23 | "Qualified airport authority" means an airport authority | ||||||
24 | organized under
the Airport Authorities Act and located in a | ||||||
25 | county bordering on the State of
Wisconsin and having a | ||||||
26 | population in excess of 200,000 and not greater than
500,000.
|
| |||||||
| |||||||
1 | "Recovered tax increment value" means, except as otherwise | ||||||
2 | provided in this
paragraph, the amount of the current year's | ||||||
3 | equalized assessed value, in the
first year after a | ||||||
4 | municipality terminates
the designation of an area as a | ||||||
5 | redevelopment project area previously
established under the | ||||||
6 | Tax Increment Allocation Redevelopment Act in the Illinois
| ||||||
7 | Municipal Code, previously established under the Industrial | ||||||
8 | Jobs Recovery Law
in the Illinois Municipal Code, previously | ||||||
9 | established under the Economic Development Project Area Tax | ||||||
10 | Increment Act of 1995, or previously established under the | ||||||
11 | Economic
Development Area Tax Increment Allocation Act, of | ||||||
12 | each taxable lot, block,
tract, or parcel of real property in | ||||||
13 | the redevelopment project area over and
above the initial | ||||||
14 | equalized assessed value of each property in the
redevelopment | ||||||
15 | project area.
For the taxes which are extended for the 1997 | ||||||
16 | levy year, the recovered tax
increment value for a non-home | ||||||
17 | rule taxing district that first became subject
to this Law for | ||||||
18 | the 1995 levy year because a majority of its 1994 equalized
| ||||||
19 | assessed value was in an affected county or counties shall be | ||||||
20 | increased if a
municipality terminated the designation of an | ||||||
21 | area in 1993 as a redevelopment
project area previously | ||||||
22 | established under the Tax Increment Allocation Redevelopment
| ||||||
23 | Act in the Illinois Municipal Code, previously established | ||||||
24 | under
the Industrial Jobs Recovery Law in the Illinois | ||||||
25 | Municipal Code, or previously
established under the Economic | ||||||
26 | Development Area Tax Increment Allocation Act,
by an amount |
| |||||||
| |||||||
1 | equal to the 1994 equalized assessed value of each taxable | ||||||
2 | lot,
block, tract, or parcel of real property in the | ||||||
3 | redevelopment project area over
and above the initial | ||||||
4 | equalized assessed value of each property in the
redevelopment | ||||||
5 | project area.
In the first year after a municipality
removes a | ||||||
6 | taxable lot, block, tract, or parcel of real property from a
| ||||||
7 | redevelopment project area established under the Tax Increment | ||||||
8 | Allocation Redevelopment
Act in the Illinois
Municipal Code, | ||||||
9 | the Industrial Jobs Recovery Law
in the Illinois Municipal | ||||||
10 | Code, or the Economic
Development Area Tax Increment | ||||||
11 | Allocation Act, "recovered tax increment value"
means the | ||||||
12 | amount of the current year's equalized assessed value of each | ||||||
13 | taxable
lot, block, tract, or parcel of real property removed | ||||||
14 | from the redevelopment
project area over and above the initial | ||||||
15 | equalized assessed value of that real
property before removal | ||||||
16 | from the redevelopment project area.
| ||||||
17 | Except as otherwise provided in this Section, "limiting | ||||||
18 | rate" means a
fraction the numerator of which is the last
| ||||||
19 | preceding aggregate extension base (as reduced by Section | ||||||
20 | 18-207, if applicable) times an amount equal to one plus the
| ||||||
21 | extension limitation defined in this Section and the | ||||||
22 | denominator of which
is the current year's equalized assessed | ||||||
23 | value of all real property in the
territory under the | ||||||
24 | jurisdiction of the taxing district during the prior
levy | ||||||
25 | year. For those taxing districts that reduced their aggregate
| ||||||
26 | extension for the last preceding levy year, except for school |
| |||||||
| |||||||
1 | districts that reduced their extension for educational | ||||||
2 | purposes pursuant to Section 18-206 and taxing districts that | ||||||
3 | reduced their aggregate extension pursuant to Section 18-207 , | ||||||
4 | the highest aggregate extension
in any of the last 3 preceding | ||||||
5 | levy years shall be used for the purpose of
computing the | ||||||
6 | limiting rate. The denominator shall not include new
property | ||||||
7 | or the recovered tax increment
value.
If a new rate, a rate | ||||||
8 | decrease, or a limiting rate increase has been approved at an | ||||||
9 | election held after March 21, 2006, then (i) the otherwise | ||||||
10 | applicable limiting rate shall be increased by the amount of | ||||||
11 | the new rate or shall be reduced by the amount of the rate | ||||||
12 | decrease, as the case may be, or (ii) in the case of a limiting | ||||||
13 | rate increase, the limiting rate shall be equal to the rate set | ||||||
14 | forth
in the proposition approved by the voters for each of the | ||||||
15 | years specified in the proposition, after
which the limiting | ||||||
16 | rate of the taxing district shall be calculated as otherwise | ||||||
17 | provided. In the case of a taxing district that obtained | ||||||
18 | referendum approval for an increased limiting rate on March | ||||||
19 | 20, 2012, the limiting rate for tax year 2012 shall be the rate | ||||||
20 | that generates the approximate total amount of taxes | ||||||
21 | extendable for that tax year, as set forth in the proposition | ||||||
22 | approved by the voters; this rate shall be the final rate | ||||||
23 | applied by the county clerk for the aggregate of all capped | ||||||
24 | funds of the district for tax year 2012.
| ||||||
25 | (Source: P.A. 102-263, eff. 8-6-21; 102-311, eff. 8-6-21; | ||||||
26 | 102-519, eff. 8-20-21; 102-558, eff. 8-20-21; 102-707, eff. |
| |||||||
| |||||||
1 | 4-22-22; 102-813, eff. 5-13-22; 102-895, eff. 5-23-22; revised | ||||||
2 | 8-29-22.)
| ||||||
3 | (35 ILCS 200/18-205)
| ||||||
4 | Sec. 18-205. Referendum to increase the extension | ||||||
5 | limitation. A taxing
district is limited to an extension | ||||||
6 | limitation as defined in Section 18-185 of 5% or the | ||||||
7 | percentage increase
in the Consumer Price Index during the | ||||||
8 | 12-month calendar year preceding the
levy year, whichever is | ||||||
9 | less . A taxing district may increase its extension
limitation | ||||||
10 | for one or more levy years if that taxing district holds a | ||||||
11 | referendum
before the levy date for the first levy year at | ||||||
12 | which a majority of voters voting on the issue approves
| ||||||
13 | adoption of a higher extension limitation. Referenda shall be | ||||||
14 | conducted at a
regularly scheduled election in accordance with | ||||||
15 | the Election Code. The question shall be presented in
| ||||||
16 | substantially the following manner for all elections held | ||||||
17 | after March 21, 2006:
| ||||||
18 | Shall the extension limitation under the Property Tax | ||||||
19 | Extension Limitation Law for (insert the legal name, | ||||||
20 | number, if any, and county or counties of the taxing | ||||||
21 | district and geographic or other common name by which a | ||||||
22 | school or community college district is known and referred | ||||||
23 | to), Illinois, be increased from (the extension limitation | ||||||
24 | under item (a) of the definition of extension limitation | ||||||
25 | in Section 18-185) the lesser of 5% or the percentage |
| |||||||
| |||||||
1 | increase in the Consumer Price Index over the prior levy | ||||||
2 | year to (insert the percentage of the proposed increase)% | ||||||
3 | per year for (insert each levy year for which the | ||||||
4 | increased extension limitation will apply)? | ||||||
5 | The votes must be recorded as "Yes" or "No".
| ||||||
6 | If a majority of voters voting on the issue approves the | ||||||
7 | adoption of
the increase, the increase shall be applicable for | ||||||
8 | each
levy year specified.
| ||||||
9 | The ballot for any question submitted pursuant to this | ||||||
10 | Section shall have printed thereon, but not as a part of the | ||||||
11 | question submitted, only the following supplemental | ||||||
12 | information (which shall be supplied to the election authority | ||||||
13 | by the taxing district) in substantially the following form: | ||||||
14 | (1) For the (insert the first levy year for which the | ||||||
15 | increased extension
limitation will be applicable) levy | ||||||
16 | year the approximate amount of the additional tax
| ||||||
17 | extendable against property containing a single family | ||||||
18 | residence and having a fair market
value at the time of the | ||||||
19 | referendum of $100,000 is estimated to be $.... | ||||||
20 | (2) Based upon an average annual percentage increase | ||||||
21 | (or decrease) in the
market value of such property of ...% | ||||||
22 | (insert percentage equal to the average
annual percentage | ||||||
23 | increase or decrease for the prior 3 levy years, at the | ||||||
24 | time the
submission of the question is initiated by the | ||||||
25 | taxing district, in the amount of (A) the
equalized | ||||||
26 | assessed value of the taxable property in the taxing |
| |||||||
| |||||||
1 | district less (B) the new
property included in the | ||||||
2 | equalized assessed value), the approximate amount of the
| ||||||
3 | additional tax extendable against such property for the | ||||||
4 | ... levy year is estimated to be
$... and for the ... levy | ||||||
5 | year is estimated to be $.... | ||||||
6 | Paragraph (2) shall be included only if the increased | ||||||
7 | extension limitation will be applicable for more than one year | ||||||
8 | and shall list each levy year for which the increased | ||||||
9 | extension limitation will be applicable. The additional tax | ||||||
10 | shown for each levy year shall be the approximate dollar | ||||||
11 | amount of the increase over the amount of the most recently | ||||||
12 | completed extension at the time the submission of the question | ||||||
13 | is initiated by the taxing district. The approximate amount of | ||||||
14 | the additional tax extendable shown in paragraphs (1) and (2) | ||||||
15 | shall be calculated by multiplying $100,000 (the fair market | ||||||
16 | value of the property without regard to any property tax | ||||||
17 | exemptions) by (i) the percentage level of assessment | ||||||
18 | prescribed for that property by statute, or by ordinance of | ||||||
19 | the county board in counties that classify property for | ||||||
20 | purposes of taxation in accordance with Section 4 of Article | ||||||
21 | IX of the Illinois Constitution; (ii) the most recent final | ||||||
22 | equalization factor certified to the county clerk by the | ||||||
23 | Department of Revenue at the time the taxing district | ||||||
24 | initiates the submission of the proposition to the electors; | ||||||
25 | (iii) the last known aggregate extension base of the taxing | ||||||
26 | district at the time the submission of the question is |
| |||||||
| |||||||
1 | initiated by the taxing district; and (iv) the difference | ||||||
2 | between the percentage increase proposed in the question and | ||||||
3 | the otherwise applicable extension limitation lesser of 5% or | ||||||
4 | the percentage increase in the Consumer Price Index for the | ||||||
5 | prior levy year (or an estimate of the percentage increase for | ||||||
6 | the prior levy year if the increase is unavailable at the time | ||||||
7 | the submission of the question is initiated by the taxing | ||||||
8 | district) ; and dividing the result by the last known equalized | ||||||
9 | assessed value of the taxing district at the time the | ||||||
10 | submission of the question is initiated by the taxing | ||||||
11 | district. This amendatory Act of the 97th General Assembly is | ||||||
12 | intended to clarify the existing requirements of this Section, | ||||||
13 | and shall not be construed to validate any prior non-compliant | ||||||
14 | referendum language. Any notice required to be published in | ||||||
15 | connection with the submission of the question shall also | ||||||
16 | contain this supplemental information and shall not contain | ||||||
17 | any other supplemental information. Any error, miscalculation, | ||||||
18 | or inaccuracy in computing any amount set forth on the ballot | ||||||
19 | or in the notice that is not deliberate shall not invalidate or | ||||||
20 | affect the validity of any proposition approved. Notice of the | ||||||
21 | referendum shall be published and posted as otherwise required | ||||||
22 | by law, and the submission of the question shall be initiated | ||||||
23 | as provided by law.
| ||||||
24 | (Source: P.A. 97-1087, eff. 8-24-12.)
| ||||||
25 | (35 ILCS 200/18-207 new) |
| |||||||
| |||||||
1 | Sec. 18-207. Reduced aggregate extension base. | ||||||
2 | (a) Upon submission of a petition signed by a number of | ||||||
3 | voters of the taxing district that is not less than 10% of the | ||||||
4 | votes cast in the taxing district at the immediately preceding | ||||||
5 | gubernatorial
election, the question of whether a taxing | ||||||
6 | district shall reduce its aggregate extension base for the | ||||||
7 | purpose of lowering its limiting rate for future years shall | ||||||
8 | be submitted to the voters of the taxing district at the next | ||||||
9 | general or consolidated election. The petition shall set forth | ||||||
10 | the amount of the reduction and the levy years for which the | ||||||
11 | reduction shall be applicable. | ||||||
12 | (b) The petition shall be filed with the applicable | ||||||
13 | election authority, as defined in Section 1-3 of the Election | ||||||
14 | Code, or, in the case of multiple election authorities, with | ||||||
15 | the State Board of Elections, not more than 10 months nor less | ||||||
16 | than 6 months prior to the election at which the question is to | ||||||
17 | be submitted to the voters, and its validity shall be | ||||||
18 | determined as provided by Article 28 of the Election Code and | ||||||
19 | general election law. The election authority or Board, as | ||||||
20 | applicable, shall certify the question and the proper election | ||||||
21 | authority or authorities shall submit the question to the | ||||||
22 | voters. Except as otherwise provided in this Section, this | ||||||
23 | referendum shall be subject to all other general election law | ||||||
24 | requirements. | ||||||
25 | (c) The proposition seeking to reduce the aggregate | ||||||
26 | extension base shall be in substantially the following form: |
| |||||||
| |||||||
1 | Shall the aggregate extension base used to calculate | ||||||
2 | the limiting rate for (taxing district) under the Property | ||||||
3 | Tax Extension Limitation Law be reduced by (amount of | ||||||
4 | money expressed in U.S. dollars) for (levy year or years)? | ||||||
5 | Votes shall be recorded as "Yes" or "No". | ||||||
6 | If a majority of all votes cast on the proposition are in | ||||||
7 | favor of the proposition, then the aggregate extension base | ||||||
8 | shall be reduced as provided in the referendum.
| ||||||
9 | (35 ILCS 200/18-212)
| ||||||
10 | Sec. 18-212. Referendum on debt service extension base. A | ||||||
11 | taxing district
may establish or increase its debt service | ||||||
12 | extension base if
(i) that taxing district holds a referendum | ||||||
13 | before the date on which the levy
must
be filed with the county | ||||||
14 | clerk of the county or counties in which the taxing
district is | ||||||
15 | situated and (ii) a majority of voters voting on the issue | ||||||
16 | approves
the establishment of or increase in the debt service | ||||||
17 | extension base. A debt service extension base established or | ||||||
18 | increased by a referendum held pursuant to this Section after | ||||||
19 | February 2, 2010, shall be increased each year, commencing | ||||||
20 | with the first levy year beginning after the date of the | ||||||
21 | referendum, by the extension limitation lesser of 5% or the | ||||||
22 | percentage increase in the Consumer Price Index during the | ||||||
23 | 12-month calendar year preceding the levy year if the optional | ||||||
24 | language concerning the annual increase is included in the | ||||||
25 | question submitted to the electors of the taxing district. |
| |||||||
| |||||||
1 | Referenda
under
this
Section shall be conducted at a regularly | ||||||
2 | scheduled election in accordance with
the Election Code. The | ||||||
3 | governing body of the taxing district shall certify the
| ||||||
4 | question to the proper election authorities who shall submit | ||||||
5 | the question to
the electors of the taxing district in | ||||||
6 | substantially the following form:
| ||||||
7 | "Shall the debt service extension base under the | ||||||
8 | Property Tax Extension
Limitation Law for ... (taxing | ||||||
9 | district name) ...
for payment of principal and interest | ||||||
10 | on limited bonds be .... ((established at
$ ....) . (or) | ||||||
11 | (increased
from $ .... to $ ....)) .. for the ..... levy | ||||||
12 | year and all subsequent levy
years (optional language: , | ||||||
13 | such debt service extension base to be increased each year | ||||||
14 | by (extension limitation amount) the lesser of 5% or the | ||||||
15 | percentage increase in the Consumer Price Index during the | ||||||
16 | 12-month calendar year preceding the levy year )?"
| ||||||
17 | Votes on the question shall be recorded as "Yes" or "No".
| ||||||
18 | If a majority of voters voting on the issue approves the | ||||||
19 | establishment of or
increase
in the debt service extension | ||||||
20 | base, the establishment of or increase in the
debt
service | ||||||
21 | extension base shall be applicable for the levy years | ||||||
22 | specified.
| ||||||
23 | (Source: P.A. 96-1202, eff. 7-22-10.)
| ||||||
24 | Section 99. Effective date. This Act takes effect upon | ||||||
25 | becoming law.
|