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09600HB6335ham001 |
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LRB096 20995 HLH 38032 a |
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| "Affected county" means a county of 3,000,000 or more |
2 |
| inhabitants or a
county contiguous to a county of 3,000,000 or |
3 |
| more inhabitants.
|
4 |
| "Taxing district" has the same meaning provided in Section |
5 |
| 1-150, except as
otherwise provided in this Section. For the |
6 |
| 1991 through 1994 levy years only,
"taxing district" includes |
7 |
| only each non-home rule taxing district having the
majority of |
8 |
| its
1990 equalized assessed value within any county or counties |
9 |
| contiguous to a
county with 3,000,000 or more inhabitants. |
10 |
| Beginning with the 1995 levy
year, "taxing district" includes |
11 |
| only each non-home rule taxing district
subject to this Law |
12 |
| before the 1995 levy year and each non-home rule
taxing |
13 |
| district not subject to this Law before the 1995 levy year |
14 |
| having the
majority of its 1994 equalized assessed value in an |
15 |
| affected county or
counties. Beginning with the levy year in
|
16 |
| which this Law becomes applicable to a taxing district as
|
17 |
| provided in Section 18-213, "taxing district" also includes |
18 |
| those taxing
districts made subject to this Law as provided in |
19 |
| Section 18-213.
|
20 |
| "Aggregate extension" for taxing districts to which this |
21 |
| Law applied before
the 1995 levy year means the annual |
22 |
| corporate extension for the taxing
district and those special |
23 |
| purpose extensions that are made annually for
the taxing |
24 |
| district, excluding special purpose extensions: (a) made for |
25 |
| the
taxing district to pay interest or principal on general |
26 |
| obligation bonds
that were approved by referendum; (b) made for |
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09600HB6335ham001 |
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LRB096 20995 HLH 38032 a |
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| any taxing district to pay
interest or principal on general |
2 |
| obligation bonds issued before October 1,
1991; (c) made for |
3 |
| any taxing district to pay interest or principal on bonds
|
4 |
| issued to refund or continue to refund those bonds issued |
5 |
| before October 1,
1991; (d)
made for any taxing district to pay |
6 |
| interest or principal on bonds
issued to refund or continue to |
7 |
| refund bonds issued after October 1, 1991 that
were approved by |
8 |
| referendum; (e)
made for any taxing district to pay interest
or |
9 |
| principal on revenue bonds issued before October 1, 1991 for |
10 |
| payment of
which a property tax levy or the full faith and |
11 |
| credit of the unit of local
government is pledged; however, a |
12 |
| tax for the payment of interest or principal
on those bonds |
13 |
| shall be made only after the governing body of the unit of |
14 |
| local
government finds that all other sources for payment are |
15 |
| insufficient to make
those payments; (f) made for payments |
16 |
| under a building commission lease when
the lease payments are |
17 |
| for the retirement of bonds issued by the commission
before |
18 |
| October 1, 1991, to pay for the building project; (g) made for |
19 |
| payments
due under installment contracts entered into before |
20 |
| October 1, 1991;
(h) made for payments of principal and |
21 |
| interest on bonds issued under the
Metropolitan Water |
22 |
| Reclamation District Act to finance construction projects
|
23 |
| initiated before October 1, 1991; (i) made for payments of |
24 |
| principal and
interest on limited bonds, as defined in Section |
25 |
| 3 of the Local Government Debt
Reform Act, in an amount not to |
26 |
| exceed the debt service extension base less
the amount in items |
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09600HB6335ham001 |
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LRB096 20995 HLH 38032 a |
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| (b), (c), (e), and (h) of this definition for
non-referendum |
2 |
| obligations, except obligations initially issued pursuant to
|
3 |
| referendum; (j) made for payments of principal and interest on |
4 |
| bonds
issued under Section 15 of the Local Government Debt |
5 |
| Reform Act; (k)
made
by a school district that participates in |
6 |
| the Special Education District of
Lake County, created by |
7 |
| special education joint agreement under Section
10-22.31 of the |
8 |
| School Code, for payment of the school district's share of the
|
9 |
| amounts required to be contributed by the Special Education |
10 |
| District of Lake
County to the Illinois Municipal Retirement |
11 |
| Fund under Article 7 of the
Illinois Pension Code; the amount |
12 |
| of any extension under this item (k) shall be
certified by the |
13 |
| school district to the county clerk; (l) made to fund
expenses |
14 |
| of providing joint recreational programs for the handicapped |
15 |
| under
Section 5-8 of
the
Park District Code or Section 11-95-14 |
16 |
| of the Illinois Municipal Code; (m) made for temporary |
17 |
| relocation loan repayment purposes pursuant to Sections 2-3.77 |
18 |
| and 17-2.2d of the School Code; (n) made for payment of |
19 |
| principal and interest on any bonds issued under the authority |
20 |
| of Section 17-2.2d of the School Code; and (o) made for |
21 |
| contributions to a firefighter's pension fund created under |
22 |
| Article 4 of the Illinois Pension Code, to the extent of the |
23 |
| amount certified under item (5) of Section 4-134 of the |
24 |
| Illinois Pension Code ; and (p) made by a school district for |
25 |
| educational purposes under subsection (b) of Section 17-2 of |
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| the School Code .
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09600HB6335ham001 |
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LRB096 20995 HLH 38032 a |
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| "Aggregate extension" for the taxing districts to which |
2 |
| this Law did not
apply before the 1995 levy year (except taxing |
3 |
| districts subject to this Law
in
accordance with Section |
4 |
| 18-213) means the annual corporate extension for the
taxing |
5 |
| district and those special purpose extensions that are made |
6 |
| annually for
the taxing district, excluding special purpose |
7 |
| extensions: (a) made for the
taxing district to pay interest or |
8 |
| principal on general obligation bonds that
were approved by |
9 |
| referendum; (b) made for any taxing district to pay interest
or |
10 |
| principal on general obligation bonds issued before March 1, |
11 |
| 1995; (c) made
for any taxing district to pay interest or |
12 |
| principal on bonds issued to refund
or continue to refund those |
13 |
| bonds issued before March 1, 1995; (d) made for any
taxing |
14 |
| district to pay interest or principal on bonds issued to refund |
15 |
| or
continue to refund bonds issued after March 1, 1995 that |
16 |
| were approved by
referendum; (e) made for any taxing district |
17 |
| to pay interest or principal on
revenue bonds issued before |
18 |
| March 1, 1995 for payment of which a property tax
levy or the |
19 |
| full faith and credit of the unit of local government is |
20 |
| pledged;
however, a tax for the payment of interest or |
21 |
| principal on those bonds shall be
made only after the governing |
22 |
| body of the unit of local government finds that
all other |
23 |
| sources for payment are insufficient to make those payments; |
24 |
| (f) made
for payments under a building commission lease when |
25 |
| the lease payments are for
the retirement of bonds issued by |
26 |
| the commission before March 1, 1995 to
pay for the building |
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09600HB6335ham001 |
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LRB096 20995 HLH 38032 a |
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| project; (g) made for payments due under installment
contracts |
2 |
| entered into before March 1, 1995; (h) made for payments of
|
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| principal and interest on bonds issued under the Metropolitan |
4 |
| Water Reclamation
District Act to finance construction |
5 |
| projects initiated before October 1,
1991; (h-4) made for |
6 |
| stormwater management purposes by the Metropolitan Water |
7 |
| Reclamation District of Greater Chicago under Section 12 of the |
8 |
| Metropolitan Water Reclamation District Act; (i) made for |
9 |
| payments of principal and interest on limited bonds,
as defined |
10 |
| in Section 3 of the Local Government Debt Reform Act, in an |
11 |
| amount
not to exceed the debt service extension base less the |
12 |
| amount in items (b),
(c), and (e) of this definition for |
13 |
| non-referendum obligations, except
obligations initially |
14 |
| issued pursuant to referendum and bonds described in
subsection |
15 |
| (h) of this definition; (j) made for payments of
principal and |
16 |
| interest on bonds issued under Section 15 of the Local |
17 |
| Government
Debt Reform Act; (k) made for payments of principal |
18 |
| and interest on bonds
authorized by Public Act 88-503 and |
19 |
| issued under Section 20a of the Chicago
Park District Act for |
20 |
| aquarium or
museum projects; (l) made for payments of principal |
21 |
| and interest on
bonds
authorized by Public Act 87-1191 or |
22 |
| 93-601 and (i) issued pursuant to Section 21.2 of the Cook |
23 |
| County Forest
Preserve District Act, (ii) issued under Section |
24 |
| 42 of the Cook County
Forest Preserve District Act for |
25 |
| zoological park projects, or (iii) issued
under Section 44.1 of |
26 |
| the Cook County Forest Preserve District Act for
botanical |
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09600HB6335ham001 |
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LRB096 20995 HLH 38032 a |
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| gardens projects; (m) made
pursuant
to Section 34-53.5 of the |
2 |
| School Code, whether levied annually or not;
(n) made to fund |
3 |
| expenses of providing joint recreational programs for the
|
4 |
| handicapped under Section 5-8 of the Park
District Code or |
5 |
| Section 11-95-14 of the Illinois Municipal Code;
(o) made by |
6 |
| the
Chicago Park
District for recreational programs for the |
7 |
| handicapped under subsection (c) of
Section
7.06 of the Chicago |
8 |
| Park District Act; (p) made for contributions to a |
9 |
| firefighter's pension fund created under Article 4 of the |
10 |
| Illinois Pension Code, to the extent of the amount certified |
11 |
| under item (5) of Section 4-134 of the Illinois Pension Code; |
12 |
| and (q) made by Ford Heights School District 169 under Section |
13 |
| 17-9.02 of the School Code ; and (r) made by a school district |
14 |
| for educational purposes under subsection (b) of Section 17-2 |
15 |
| of the School Code .
|
16 |
| "Aggregate extension" for all taxing districts to which |
17 |
| this Law applies in
accordance with Section 18-213, except for |
18 |
| those taxing districts subject to
paragraph (2) of subsection |
19 |
| (e) of Section 18-213, means the annual corporate
extension for |
20 |
| the
taxing district and those special purpose extensions that |
21 |
| are made annually for
the taxing district, excluding special |
22 |
| purpose extensions: (a) made for the
taxing district to pay |
23 |
| interest or principal on general obligation bonds that
were |
24 |
| approved by referendum; (b) made for any taxing district to pay |
25 |
| interest
or principal on general obligation bonds issued before |
26 |
| the date on which the
referendum making this
Law applicable to |
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09600HB6335ham001 |
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LRB096 20995 HLH 38032 a |
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| the taxing district is held; (c) made
for any taxing district |
2 |
| to pay interest or principal on bonds issued to refund
or |
3 |
| continue to refund those bonds issued before the date on which |
4 |
| the
referendum making this Law
applicable to the taxing |
5 |
| district is held;
(d) made for any
taxing district to pay |
6 |
| interest or principal on bonds issued to refund or
continue to |
7 |
| refund bonds issued after the date on which the referendum |
8 |
| making
this Law
applicable to the taxing district is held if |
9 |
| the bonds were approved by
referendum after the date on which |
10 |
| the referendum making this Law
applicable to the taxing |
11 |
| district is held; (e) made for any
taxing district to pay |
12 |
| interest or principal on
revenue bonds issued before the date |
13 |
| on which the referendum making this Law
applicable to the
|
14 |
| taxing district is held for payment of which a property tax
|
15 |
| levy or the full faith and credit of the unit of local |
16 |
| government is pledged;
however, a tax for the payment of |
17 |
| interest or principal on those bonds shall be
made only after |
18 |
| the governing body of the unit of local government finds that
|
19 |
| all other sources for payment are insufficient to make those |
20 |
| payments; (f) made
for payments under a building commission |
21 |
| lease when the lease payments are for
the retirement of bonds |
22 |
| issued by the commission before the date on which the
|
23 |
| referendum making this
Law applicable to the taxing district is |
24 |
| held to
pay for the building project; (g) made for payments due |
25 |
| under installment
contracts entered into before the date on |
26 |
| which the referendum making this Law
applicable to
the taxing |
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09600HB6335ham001 |
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LRB096 20995 HLH 38032 a |
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| district is held;
(h) made for payments
of principal and |
2 |
| interest on limited bonds,
as defined in Section 3 of the Local |
3 |
| Government Debt Reform Act, in an amount
not to exceed the debt |
4 |
| service extension base less the amount in items (b),
(c), and |
5 |
| (e) of this definition for non-referendum obligations, except
|
6 |
| obligations initially issued pursuant to referendum; (i) made |
7 |
| for payments
of
principal and interest on bonds issued under |
8 |
| Section 15 of the Local Government
Debt Reform Act;
(j)
made |
9 |
| for a qualified airport authority to pay interest or principal |
10 |
| on
general obligation bonds issued for the purpose of paying |
11 |
| obligations due
under, or financing airport facilities |
12 |
| required to be acquired, constructed,
installed or equipped |
13 |
| pursuant to, contracts entered into before March
1, 1996 (but |
14 |
| not including any amendments to such a contract taking effect |
15 |
| on
or after that date); (k) made to fund expenses of providing |
16 |
| joint
recreational programs for the handicapped under Section |
17 |
| 5-8 of
the
Park District Code or Section 11-95-14 of the |
18 |
| Illinois Municipal Code; (l) made for contributions to a |
19 |
| firefighter's pension fund created under Article 4 of the |
20 |
| Illinois Pension Code, to the extent of the amount certified |
21 |
| under item (5) of Section 4-134 of the Illinois Pension Code; |
22 |
| and (m) made for the taxing district to pay interest or |
23 |
| principal on general obligation bonds issued pursuant to |
24 |
| Section 19-3.10 of the School Code ; and (n) made by a school |
25 |
| district for educational purposes under subsection (b) of |
26 |
| Section 17-2 of the School Code .
|
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09600HB6335ham001 |
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LRB096 20995 HLH 38032 a |
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| "Aggregate extension" for all taxing districts to which |
2 |
| this Law applies in
accordance with paragraph (2) of subsection |
3 |
| (e) of Section 18-213 means the
annual corporate extension for |
4 |
| the
taxing district and those special purpose extensions that |
5 |
| are made annually for
the taxing district, excluding special |
6 |
| purpose extensions: (a) made for the
taxing district to pay |
7 |
| interest or principal on general obligation bonds that
were |
8 |
| approved by referendum; (b) made for any taxing district to pay |
9 |
| interest
or principal on general obligation bonds issued before |
10 |
| the effective date of
this amendatory Act of 1997;
(c) made
for |
11 |
| any taxing district to pay interest or principal on bonds |
12 |
| issued to refund
or continue to refund those bonds issued |
13 |
| before the effective date
of this amendatory Act of 1997;
(d) |
14 |
| made for any
taxing district to pay interest or principal on |
15 |
| bonds issued to refund or
continue to refund bonds issued after |
16 |
| the effective date of this amendatory Act
of 1997 if the bonds |
17 |
| were approved by referendum after the effective date of
this |
18 |
| amendatory Act of 1997;
(e) made for any
taxing district to pay |
19 |
| interest or principal on
revenue bonds issued before the |
20 |
| effective date of this amendatory Act of 1997
for payment of |
21 |
| which a property tax
levy or the full faith and credit of the |
22 |
| unit of local government is pledged;
however, a tax for the |
23 |
| payment of interest or principal on those bonds shall be
made |
24 |
| only after the governing body of the unit of local government |
25 |
| finds that
all other sources for payment are insufficient to |
26 |
| make those payments; (f) made
for payments under a building |
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09600HB6335ham001 |
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LRB096 20995 HLH 38032 a |
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| commission lease when the lease payments are for
the retirement |
2 |
| of bonds issued by the commission before the effective date
of |
3 |
| this amendatory Act of 1997
to
pay for the building project; |
4 |
| (g) made for payments due under installment
contracts entered |
5 |
| into before the effective date of this amendatory Act of
1997;
|
6 |
| (h) made for payments
of principal and interest on limited |
7 |
| bonds,
as defined in Section 3 of the Local Government Debt |
8 |
| Reform Act, in an amount
not to exceed the debt service |
9 |
| extension base less the amount in items (b),
(c), and (e) of |
10 |
| this definition for non-referendum obligations, except
|
11 |
| obligations initially issued pursuant to referendum; (i) made |
12 |
| for payments
of
principal and interest on bonds issued under |
13 |
| Section 15 of the Local Government
Debt Reform Act;
(j)
made |
14 |
| for a qualified airport authority to pay interest or principal |
15 |
| on
general obligation bonds issued for the purpose of paying |
16 |
| obligations due
under, or financing airport facilities |
17 |
| required to be acquired, constructed,
installed or equipped |
18 |
| pursuant to, contracts entered into before March
1, 1996 (but |
19 |
| not including any amendments to such a contract taking effect |
20 |
| on
or after that date); (k) made to fund expenses of providing |
21 |
| joint
recreational programs for the handicapped under Section |
22 |
| 5-8 of
the
Park District Code or Section 11-95-14 of the |
23 |
| Illinois Municipal Code; and (l) made for contributions to a |
24 |
| firefighter's pension fund created under Article 4 of the |
25 |
| Illinois Pension Code, to the extent of the amount certified |
26 |
| under item (5) of Section 4-134 of the Illinois Pension Code ; |
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09600HB6335ham001 |
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LRB096 20995 HLH 38032 a |
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| and (m) made by a school district for educational purposes |
2 |
| under subsection (b) of Section 17-2 of the School Code .
|
3 |
| "Debt service extension base" means an amount equal to that |
4 |
| portion of the
extension for a taxing district for the 1994 |
5 |
| levy year, or for those taxing
districts subject to this Law in |
6 |
| accordance with Section 18-213, except for
those subject to |
7 |
| paragraph (2) of subsection (e) of Section 18-213, for the
levy
|
8 |
| year in which the referendum making this Law applicable to the |
9 |
| taxing district
is held, or for those taxing districts subject |
10 |
| to this Law in accordance with
paragraph (2) of subsection (e) |
11 |
| of Section 18-213 for the 1996 levy year,
constituting an
|
12 |
| extension for payment of principal and interest on bonds issued |
13 |
| by the taxing
district without referendum, increased each year, |
14 |
| commencing with the 2009 levy year, by 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, but not |
17 |
| including excluded non-referendum bonds. For park districts |
18 |
| (i) that were first
subject to this Law in 1991 or 1995 and |
19 |
| (ii) whose extension for the 1994 levy
year for the payment of |
20 |
| principal and interest on bonds issued by the park
district |
21 |
| without referendum (but not including excluded non-referendum |
22 |
| bonds)
was less than 51% of the amount for the 1991 levy year |
23 |
| constituting an
extension for payment of principal and interest |
24 |
| on bonds issued by the park
district without referendum (but |
25 |
| not including excluded non-referendum bonds),
"debt service |
26 |
| extension base" means an amount equal to that portion of the
|
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|
09600HB6335ham001 |
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LRB096 20995 HLH 38032 a |
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| extension for the 1991 levy year constituting an extension for |
2 |
| payment of
principal and interest on bonds issued by the park |
3 |
| district without referendum
(but not including excluded |
4 |
| non-referendum bonds). The debt service extension
base may be |
5 |
| established or increased as provided under Section 18-212.
|
6 |
| "Excluded non-referendum bonds" means (i) bonds authorized by |
7 |
| Public
Act 88-503 and issued under Section 20a of the Chicago |
8 |
| Park District Act for
aquarium and museum projects; (ii) bonds |
9 |
| issued under Section 15 of the
Local Government Debt Reform |
10 |
| Act; or (iii) refunding obligations issued
to refund or to |
11 |
| continue to refund obligations initially issued pursuant to
|
12 |
| referendum.
|
13 |
| "Special purpose extensions" include, but are not limited |
14 |
| to, extensions
for levies made on an annual basis for |
15 |
| unemployment and workers'
compensation, self-insurance, |
16 |
| contributions to pension plans, and extensions
made pursuant to |
17 |
| Section 6-601 of the Illinois Highway Code for a road
|
18 |
| district's permanent road fund whether levied annually or not. |
19 |
| The
extension for a special service area is not included in the
|
20 |
| aggregate extension.
|
21 |
| "Aggregate extension base" means the taxing district's |
22 |
| last preceding
aggregate extension as adjusted under Sections |
23 |
| 18-135, 18-215,
and 18-230.
An adjustment under Section 18-135 |
24 |
| shall be made for the 2007 levy year and all subsequent levy |
25 |
| years whenever one or more counties within which a taxing |
26 |
| district is located (i) used estimated valuations or rates when |
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09600HB6335ham001 |
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LRB096 20995 HLH 38032 a |
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| extending taxes in the taxing district for the last preceding |
2 |
| levy year that resulted in the over or under extension of |
3 |
| taxes, or (ii) increased or decreased the tax extension for the |
4 |
| last preceding levy year as required by Section 18-135(c). |
5 |
| Whenever an adjustment is required under Section 18-135, the |
6 |
| aggregate extension base of the taxing district shall be equal |
7 |
| to the amount that the aggregate extension of the taxing |
8 |
| district would have been for the last preceding levy year if |
9 |
| either or both (i) actual, rather than estimated, valuations or |
10 |
| rates had been used to calculate the extension of taxes for the |
11 |
| last levy year, or (ii) the tax extension for the last |
12 |
| preceding levy year had not been adjusted as required by |
13 |
| subsection (c) of Section 18-135. |
14 |
| "Levy year" has the same meaning as "year" under Section
|
15 |
| 1-155.
|
16 |
| "New property" means (i) the assessed value, after final |
17 |
| board of review or
board of appeals action, of new improvements |
18 |
| or additions to existing
improvements on any parcel of real |
19 |
| property that increase the assessed value of
that real property |
20 |
| during the levy year multiplied by the equalization factor
|
21 |
| issued by the Department under Section 17-30, (ii) the assessed |
22 |
| value, after
final board of review or board of appeals action, |
23 |
| of real property not exempt
from real estate taxation, which |
24 |
| real property was exempt from real estate
taxation for any |
25 |
| portion of the immediately preceding levy year, multiplied by
|
26 |
| the equalization factor issued by the Department under Section |
|
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|
09600HB6335ham001 |
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LRB096 20995 HLH 38032 a |
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|
1 |
| 17-30, including the assessed value, upon final stabilization |
2 |
| of occupancy after new construction is complete, of any real |
3 |
| property located within the boundaries of an otherwise or |
4 |
| previously exempt military reservation that is intended for |
5 |
| residential use and owned by or leased to a private corporation |
6 |
| or other entity, and
(iii) in counties that classify in |
7 |
| accordance with Section 4 of Article
IX of the
Illinois |
8 |
| Constitution, an incentive property's additional assessed |
9 |
| value
resulting from a
scheduled increase in the level of |
10 |
| assessment as applied to the first year
final board of
review |
11 |
| market value.
In addition, the county clerk in a county |
12 |
| containing a population of
3,000,000 or more shall include in |
13 |
| the 1997
recovered tax increment value for any school district, |
14 |
| any recovered tax
increment value that was applicable to the |
15 |
| 1995 tax year calculations.
|
16 |
| "Qualified airport authority" means an airport authority |
17 |
| organized under
the Airport Authorities Act and located in a |
18 |
| county bordering on the State of
Wisconsin and having a |
19 |
| population in excess of 200,000 and not greater than
500,000.
|
20 |
| "Recovered tax increment value" means, except as otherwise |
21 |
| provided in this
paragraph, the amount of the current year's |
22 |
| equalized assessed value, in the
first year after a |
23 |
| municipality terminates
the designation of an area as a |
24 |
| redevelopment project area previously
established under the |
25 |
| Tax Increment Allocation Development Act in the Illinois
|
26 |
| Municipal Code, previously established under the Industrial |
|
|
|
09600HB6335ham001 |
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LRB096 20995 HLH 38032 a |
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|
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| Jobs Recovery Law
in the Illinois Municipal Code, previously |
2 |
| established under the Economic Development Project Area Tax |
3 |
| Increment Act of 1995, or previously established under the |
4 |
| Economic
Development Area Tax Increment Allocation Act, of each |
5 |
| taxable lot, block,
tract, or parcel of real property in the |
6 |
| redevelopment project area over and
above the initial equalized |
7 |
| assessed value of each property in the
redevelopment project |
8 |
| area.
For the taxes which are extended for the 1997 levy year, |
9 |
| the recovered tax
increment value for a non-home rule taxing |
10 |
| district that first became subject
to this Law for the 1995 |
11 |
| levy year because a majority of its 1994 equalized
assessed |
12 |
| value was in an affected county or counties shall be increased |
13 |
| if a
municipality terminated the designation of an area in 1993 |
14 |
| as a redevelopment
project area previously established under |
15 |
| the Tax Increment Allocation
Development Act in the Illinois |
16 |
| Municipal Code, previously established under
the Industrial |
17 |
| Jobs Recovery Law in the Illinois Municipal Code, or previously
|
18 |
| established under the Economic Development Area Tax Increment |
19 |
| Allocation Act,
by an amount equal to the 1994 equalized |
20 |
| assessed value of each taxable lot,
block, tract, or parcel of |
21 |
| real property in the redevelopment project area over
and above |
22 |
| the initial equalized assessed value of each property in the
|
23 |
| redevelopment project area.
In the first year after a |
24 |
| municipality
removes a taxable lot, block, tract, or parcel of |
25 |
| real property from a
redevelopment project area established |
26 |
| under the Tax Increment Allocation
Development Act in the |
|
|
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09600HB6335ham001 |
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LRB096 20995 HLH 38032 a |
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|
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| Illinois
Municipal Code, the Industrial Jobs Recovery Law
in |
2 |
| the Illinois Municipal Code, or the Economic
Development Area |
3 |
| Tax Increment Allocation Act, "recovered tax increment value"
|
4 |
| means the amount of the current year's equalized assessed value |
5 |
| of each taxable
lot, block, tract, or parcel of real property |
6 |
| removed from the redevelopment
project area over and above the |
7 |
| initial equalized assessed value of that real
property before |
8 |
| removal from the redevelopment project area.
|
9 |
| Except as otherwise provided in this Section, "limiting |
10 |
| rate" means a
fraction the numerator of which is the last
|
11 |
| preceding aggregate extension base times an amount equal to one |
12 |
| plus the
extension limitation defined in this Section and the |
13 |
| denominator of which
is the current year's equalized assessed |
14 |
| value of all real property in the
territory under the |
15 |
| jurisdiction of the taxing district during the prior
levy year. |
16 |
| For those taxing districts that reduced their aggregate
|
17 |
| extension for the last preceding levy year, the highest |
18 |
| aggregate extension
in any of the last 3 preceding levy years |
19 |
| shall be used for the purpose of
computing the limiting rate. |
20 |
| The denominator shall not include new
property or the recovered |
21 |
| tax increment
value.
If a new rate, a rate decrease, or a |
22 |
| limiting rate increase has been approved at an election held |
23 |
| after March 21, 2006, then (i) the otherwise applicable |
24 |
| limiting rate shall be increased by the amount of the new rate |
25 |
| or shall be reduced by the amount of the rate decrease, as the |
26 |
| case may be, or (ii) in the case of a limiting rate increase, |
|
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09600HB6335ham001 |
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LRB096 20995 HLH 38032 a |
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| the limiting rate shall be equal to the rate set forth
in the |
2 |
| proposition approved by the voters for each of the years |
3 |
| specified in the proposition, after
which the limiting rate of |
4 |
| the taxing district shall be calculated as otherwise provided.
|
5 |
| (Source: P.A. 95-90, eff. 1-1-08; 95-331, eff. 8-21-07; 95-404, |
6 |
| eff. 1-1-08; 95-876, eff. 8-21-08; 96-501, eff. 8-14-09; |
7 |
| 96-517, eff. 8-14-09; revised 9-15-09.) |
8 |
| Section 10. The School Code is amended by changing Sections |
9 |
| 17-2 as follows: |
10 |
| (105 ILCS 5/17-2) (from Ch. 122, par. 17-2) |
11 |
| Sec. 17-2. Tax levies; purposes; rates. |
12 |
| (a) Except as otherwise provided in
Articles 12 and 13 of |
13 |
| this Act, the following maximum rates shall apply to all
taxes |
14 |
| levied after August 10, 1965, in districts having a population |
15 |
| of less
than 500,000 inhabitants, including those districts |
16 |
| organized under Article 11
of the School Code. The school board |
17 |
| of any district having a population of
less than 500,000 |
18 |
| inhabitants may levy a tax annually, at not to exceed the
|
19 |
| maximum rates and for the specified purposes, upon all the |
20 |
| taxable property of
the district at the value, as equalized or |
21 |
| assessed by the Department of
Revenue as follows: |
22 |
| (1) districts maintaining only grades 1 through 8, .92% |
23 |
| for educational
purposes and .25% for operations and |
24 |
| maintenance purposes; |
|
|
|
09600HB6335ham001 |
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LRB096 20995 HLH 38032 a |
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|
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| (2) districts maintaining only grades 9 through 12, |
2 |
| .92% for
educational purposes and .25% for operations and |
3 |
| maintenance purposes; |
4 |
| (3) districts maintaining grades 1 through 12, 1.63% |
5 |
| for the 1985-86
school year, 1.68% for the 1986-87 school |
6 |
| year, 1.75% for the 1987-88
school year and 1.84% for the |
7 |
| 1988-89 school year and thereafter for
educational |
8 |
| purposes and .405% for the 1989-90 school year, .435% for |
9 |
| the
1990-91 school year, .465% for the 1991-92 school year, |
10 |
| and .50% for the
1992-93 school year and thereafter for |
11 |
| operations and maintenance purposes; |
12 |
| (4) all districts, 0.75% for capital improvement |
13 |
| purposes (which is in
addition to the levy for operations |
14 |
| and maintenance purposes), which tax is to
be
levied, |
15 |
| accumulated for not more than 6 years, and spent for |
16 |
| capital
improvement purposes (including but not limited to |
17 |
| the construction of a new
school building or buildings or |
18 |
| the purchase of school grounds on which any new
school |
19 |
| building is to be constructed or located, or both) only in |
20 |
| accordance
with Section 17-2.3 of this Act; |
21 |
| (5) districts maintaining only grades 1 through 8, .12% |
22 |
| for
transportation purposes, provided that districts |
23 |
| maintaining only grades
kindergarten through 8 which have |
24 |
| an enrollment of at least 2600 students
may levy, subject |
25 |
| to Section 17-2.2, at not to exceed a maximum rate of
.20% |
26 |
| for transportation purposes for any school year in which |
|
|
|
09600HB6335ham001 |
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LRB096 20995 HLH 38032 a |
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|
1 |
| the number of
students requiring transportation in the |
2 |
| district exceeds by at least 2%
the number of students |
3 |
| requiring transportation in the district during the
|
4 |
| preceding school year, as verified in the district's claim |
5 |
| for pupil
transportation and reimbursement and as |
6 |
| certified by the State Board of
Education to the county |
7 |
| clerk of the county in which such district is
located not |
8 |
| later than November 15 following the submission of such |
9 |
| claim;
districts maintaining only grades 9 through 12, .12% |
10 |
| for transportation
purposes; and districts maintaining |
11 |
| grades 1 through 12, .14% for the
1985-86 school year, .16% |
12 |
| for the 1986-87 school year, .18% for the 1987-88
school |
13 |
| year and .20% for the 1988-89 school year and thereafter, |
14 |
| for
transportation purposes; |
15 |
| (6) districts providing summer classes, .15% for |
16 |
| educational
purposes, subject to Section 17-2.1 of this |
17 |
| Act. |
18 |
| Whenever any special charter school district operating |
19 |
| grades 1
through 12, has organized or shall organize under the |
20 |
| general school
law, the district so organized may continue to |
21 |
| levy taxes at not to
exceed the rate at which taxes were last |
22 |
| actually extended by the
special charter district, except that |
23 |
| if such rate at which taxes were
last actually extended by such |
24 |
| special charter district was less than
the maximum rate for |
25 |
| districts maintaining grades 1 through 12
authorized under this |
26 |
| Section, such special charter district
nevertheless may levy |
|
|
|
09600HB6335ham001 |
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LRB096 20995 HLH 38032 a |
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|
1 |
| taxes at a rate not to exceed the maximum rate for
districts |
2 |
| maintaining grades 1 through 12 authorized under this Section,
|
3 |
| and except that if any such district maintains only grades 1 |
4 |
| through 8,
the board may levy, for educational purposes, at a |
5 |
| rate not to exceed
the maximum rate for elementary districts |
6 |
| authorized under this Section. |
7 |
| Maximum rates before or after established in excess of |
8 |
| those
prescribed shall not be affected by the amendatory Act of |
9 |
| 1965. |
10 |
| (b) In levy years 2010 and 2011, any school district having |
11 |
| a population of less
than 500,000 inhabitants may, by |
12 |
| resolution, levy an additional tax for educational purposes not |
13 |
| to exceed 0.25% upon the equalized assessed value of all |
14 |
| taxable property within
the district if (i) the district |
15 |
| maintains fund balances or cash reserves that do not exceed 25% |
16 |
| of the district's expenditures for the fiscal year immediately |
17 |
| preceding the levy year, (ii) the district's spending rate per |
18 |
| student for the fiscal year immediately preceding the levy year |
19 |
| was at or below the State average for that fiscal year, and |
20 |
| (iii) none of the district's schools were on the academic watch |
21 |
| list under Section 2-3.25d of this Code during the 2 calendar |
22 |
| years immediately preceding the levy year. The board shall |
23 |
| present the resolution to the county clerk, who shall ascertain |
24 |
| the rate (expressed as a
percentage) that, when extended upon |
25 |
| the total valuation of all property subject to taxation
within |
26 |
| that school district,
will produce a net amount not less than |
|
|
|
09600HB6335ham001 |
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LRB096 20995 HLH 38032 a |
|
|
1 |
| the total amount directed to be
levied by the district. The |
2 |
| county clerk shall then certify the
rate and shall
extend the |
3 |
| additional tax
to be levied upon the books of the collector of |
4 |
| taxes for the county
against all taxable property in the county |
5 |
| within the limits of
the
school district. |
6 |
| (Source: P.A. 87-984; 87-1023; 88-45.)
|
7 |
| Section 99. Effective date. This Act takes effect upon |
8 |
| becoming law.".
|