Rep. Mark L. Walker
Filed: 3/1/2022
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1 | AMENDMENT TO HOUSE BILL 448
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2 | AMENDMENT NO. ______. Amend House Bill 448 by replacing | ||||||
3 | everything after the enacting clause with the following:
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4 | "Section 5. The Property Tax Code is amended by changing | ||||||
5 | Section 18-185 and by adding Section 18-190.7 as follows: | ||||||
6 | (35 ILCS 200/18-185)
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7 | Sec. 18-185. Short title; definitions. This Division 5 | ||||||
8 | may be cited as the
Property Tax Extension Limitation Law. As | ||||||
9 | used in this Division 5:
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10 | "Consumer Price Index" means the Consumer Price Index for | ||||||
11 | All Urban
Consumers for all items published by the United | ||||||
12 | States Department of Labor.
| ||||||
13 | "Extension limitation" means (a) the lesser of 5% or the | ||||||
14 | percentage increase
in the Consumer Price Index during the | ||||||
15 | 12-month calendar year preceding the
levy year or (b) the rate | ||||||
16 | of increase approved by voters under Section 18-205.
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1 | "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.
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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 | ||||||
9 | counties contiguous to a
county with 3,000,000 or more | ||||||
10 | inhabitants. Beginning with the 1995 levy
year, "taxing | ||||||
11 | district" includes only each non-home rule taxing district
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12 | subject to this Law before the 1995 levy year and each non-home | ||||||
13 | rule
taxing district not subject to this Law before the 1995 | ||||||
14 | levy year having the
majority of its 1994 equalized assessed | ||||||
15 | value in an affected county or
counties. Beginning with the | ||||||
16 | levy year in
which this Law becomes applicable to a taxing | ||||||
17 | district as
provided in Section 18-213, "taxing district" also | ||||||
18 | includes those taxing
districts made subject to this Law as | ||||||
19 | provided in Section 18-213.
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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 |
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1 | for any taxing district to pay
interest or principal on | ||||||
2 | general obligation bonds issued before October 1,
1991; (c) | ||||||
3 | made for any taxing district to pay interest or principal on | ||||||
4 | bonds
issued to refund or continue to refund those bonds | ||||||
5 | issued before October 1,
1991; (d)
made for any taxing | ||||||
6 | district to pay interest or principal on bonds
issued to | ||||||
7 | refund or continue to refund bonds issued after October 1, | ||||||
8 | 1991 that
were approved by referendum; (e)
made for any taxing | ||||||
9 | district to pay interest
or principal on revenue bonds issued | ||||||
10 | before October 1, 1991 for payment of
which a property tax levy | ||||||
11 | or the full faith and credit of the unit of local
government is | ||||||
12 | pledged; however, a tax for the payment of interest or | ||||||
13 | principal
on those bonds shall be made only after the | ||||||
14 | governing body of the unit of local
government finds that all | ||||||
15 | other sources for payment are insufficient to make
those | ||||||
16 | payments; (f) made for payments under a building commission | ||||||
17 | lease when
the lease payments are for the retirement of bonds | ||||||
18 | issued by the commission
before October 1, 1991, to pay for the | ||||||
19 | building project; (g) made for payments
due under installment | ||||||
20 | contracts entered into before October 1, 1991;
(h) made for | ||||||
21 | payments of principal and interest on bonds issued under the
| ||||||
22 | Metropolitan Water Reclamation District Act to finance | ||||||
23 | construction projects
initiated before October 1, 1991; (i) | ||||||
24 | made for payments of principal and
interest on limited bonds, | ||||||
25 | as defined in Section 3 of the Local Government Debt
Reform | ||||||
26 | Act, in an amount not to exceed the debt service extension base |
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1 | less
the amount in items (b), (c), (e), and (h) of this | ||||||
2 | definition for
non-referendum obligations, except obligations | ||||||
3 | initially issued pursuant to
referendum; (j) made for payments | ||||||
4 | of principal and interest on bonds
issued under Section 15 of | ||||||
5 | the Local Government Debt Reform Act; (k)
made
by a school | ||||||
6 | district that participates in the Special Education District | ||||||
7 | of
Lake County, created by special education joint agreement | ||||||
8 | under Section
10-22.31 of the School Code, for payment of the | ||||||
9 | school district's share of the
amounts required to be | ||||||
10 | contributed by the Special Education District of Lake
County | ||||||
11 | to the Illinois Municipal Retirement Fund under Article 7 of | ||||||
12 | the
Illinois Pension Code; the amount of any extension under | ||||||
13 | this item (k) shall be
certified by the school district to the | ||||||
14 | county clerk; (l) 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; (m) made for temporary relocation | ||||||
18 | loan repayment purposes pursuant to Sections 2-3.77 and | ||||||
19 | 17-2.2d of the School Code; (n) made for payment of principal | ||||||
20 | and interest on any bonds issued under the authority of | ||||||
21 | Section 17-2.2d of the School Code; (o) made for contributions | ||||||
22 | to a firefighter's pension fund created under Article 4 of the | ||||||
23 | Illinois Pension Code, to the extent of the amount certified | ||||||
24 | under item (5) of Section 4-134 of the Illinois Pension Code; | ||||||
25 | and (p) made for road purposes in the first year after a | ||||||
26 | township assumes the rights, powers, duties, assets, property, |
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1 | liabilities, obligations, and
responsibilities of a road | ||||||
2 | district abolished under the provisions of Section 6-133 of | ||||||
3 | the Illinois Highway Code.
| ||||||
4 | "Aggregate extension" for the taxing districts to which | ||||||
5 | this Law did not
apply before the 1995 levy year (except taxing | ||||||
6 | districts subject to this Law
in
accordance with Section | ||||||
7 | 18-213) means the annual corporate extension for the
taxing | ||||||
8 | district and those special purpose extensions that are made | ||||||
9 | annually for
the taxing district, excluding special purpose | ||||||
10 | extensions: (a) made for the
taxing district to pay interest | ||||||
11 | or principal on general obligation bonds that
were approved by | ||||||
12 | referendum; (b) made for any taxing district to pay interest
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13 | or principal on general obligation bonds issued before March | ||||||
14 | 1, 1995; (c) made
for any taxing district to pay interest or | ||||||
15 | principal on bonds issued to refund
or continue to refund | ||||||
16 | those bonds issued before March 1, 1995; (d) made for any
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17 | taxing district to pay interest or principal on bonds issued | ||||||
18 | to refund or
continue to refund bonds issued after March 1, | ||||||
19 | 1995 that were approved by
referendum; (e) made for any taxing | ||||||
20 | district to pay interest or principal on
revenue bonds issued | ||||||
21 | before March 1, 1995 for payment of which a property tax
levy | ||||||
22 | or the full faith and credit of the unit of local government is | ||||||
23 | pledged;
however, a tax for the payment of interest or | ||||||
24 | principal on those bonds shall be
made only after the | ||||||
25 | governing body of the unit of local government finds that
all | ||||||
26 | other sources for payment are insufficient to make those |
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| |||||||
1 | payments; (f) made
for payments under a building commission | ||||||
2 | lease when the lease payments are for
the retirement of bonds | ||||||
3 | issued by the commission before March 1, 1995 to
pay for the | ||||||
4 | building project; (g) made for payments due under installment
| ||||||
5 | contracts entered into before March 1, 1995; (h) made for | ||||||
6 | payments of
principal and interest on bonds issued under the | ||||||
7 | Metropolitan Water Reclamation
District Act to finance | ||||||
8 | construction projects initiated before October 1,
1991; (h-4) | ||||||
9 | made for stormwater management purposes by the Metropolitan | ||||||
10 | Water Reclamation District of Greater Chicago under Section 12 | ||||||
11 | of the Metropolitan Water Reclamation District Act; (i) made | ||||||
12 | for payments of principal and interest on limited bonds,
as | ||||||
13 | defined in Section 3 of the Local Government Debt Reform Act, | ||||||
14 | in an amount
not to exceed the debt service extension base less | ||||||
15 | the amount in items (b),
(c), and (e) of this definition for | ||||||
16 | non-referendum obligations, except
obligations initially | ||||||
17 | issued pursuant to referendum and bonds described in
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18 | subsection (h) of this definition; (j) made for payments of
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19 | principal and interest on bonds issued under Section 15 of the | ||||||
20 | Local Government
Debt Reform Act; (k) made for payments of | ||||||
21 | principal and interest on bonds
authorized by Public Act | ||||||
22 | 88-503 and issued under Section 20a of the Chicago
Park | ||||||
23 | District Act for aquarium or
museum projects and bonds issued | ||||||
24 | under Section 20a of the Chicago Park District Act for the | ||||||
25 | purpose of making contributions to the pension fund | ||||||
26 | established under Article 12 of the Illinois Pension Code; (l) |
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1 | made for payments of principal and interest on
bonds
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2 | authorized by Public Act 87-1191 or 93-601 and (i) issued | ||||||
3 | pursuant to Section 21.2 of the Cook County Forest
Preserve | ||||||
4 | District Act, (ii) issued under Section 42 of the Cook County
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5 | Forest Preserve District Act for zoological park projects, or | ||||||
6 | (iii) issued
under Section 44.1 of the Cook County Forest | ||||||
7 | Preserve District Act for
botanical gardens projects; (m) made
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8 | pursuant
to Section 34-53.5 of the School Code, whether levied | ||||||
9 | annually or not;
(n) made to fund expenses of providing joint | ||||||
10 | recreational programs for persons with disabilities under | ||||||
11 | Section 5-8 of the Park
District Code or Section 11-95-14 of | ||||||
12 | the Illinois Municipal Code;
(o) made by the
Chicago Park
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13 | District for recreational programs for persons with | ||||||
14 | disabilities under subsection (c) of
Section
7.06 of the | ||||||
15 | Chicago Park District Act; (p) made for contributions to a | ||||||
16 | firefighter's pension fund created under Article 4 of the | ||||||
17 | Illinois Pension Code, to the extent of the amount certified | ||||||
18 | under item (5) of Section 4-134 of the Illinois Pension Code; | ||||||
19 | (q) made by Ford Heights School District 169 under Section | ||||||
20 | 17-9.02 of the School Code; and (r) made for the purpose of | ||||||
21 | making employer contributions to the Public School Teachers' | ||||||
22 | Pension and Retirement Fund of Chicago under Section 34-53 of | ||||||
23 | the School Code.
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24 | "Aggregate extension" for all taxing districts to which | ||||||
25 | this Law applies in
accordance with Section 18-213, except for | ||||||
26 | those taxing districts subject to
paragraph (2) of subsection |
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1 | (e) of Section 18-213, means the annual corporate
extension | ||||||
2 | for the
taxing district and those special purpose extensions | ||||||
3 | that are made annually for
the taxing district, excluding | ||||||
4 | special purpose extensions: (a) made for the
taxing district | ||||||
5 | to pay interest or principal on general obligation bonds that
| ||||||
6 | were approved by referendum; (b) made for any taxing district | ||||||
7 | to pay interest
or principal on general obligation bonds | ||||||
8 | issued before the date on which the
referendum making this
Law | ||||||
9 | applicable to the taxing district is held; (c) made
for any | ||||||
10 | taxing district to pay interest or principal on bonds issued | ||||||
11 | to refund
or continue to refund those bonds issued before the | ||||||
12 | date on which the
referendum making this Law
applicable to the | ||||||
13 | taxing district is held;
(d) made for any
taxing district to | ||||||
14 | pay interest or principal on bonds issued to refund or
| ||||||
15 | continue to refund bonds issued after the date on which the | ||||||
16 | referendum making
this Law
applicable to the taxing district | ||||||
17 | is held if the bonds were approved by
referendum after the date | ||||||
18 | on which the referendum making this Law
applicable to the | ||||||
19 | taxing district is held; (e) made for any
taxing district to | ||||||
20 | pay interest or principal on
revenue bonds issued before the | ||||||
21 | date on which the referendum making this Law
applicable to the
| ||||||
22 | taxing district is held for payment of which a property tax
| ||||||
23 | levy or the full faith and credit of the unit of local | ||||||
24 | government is pledged;
however, a tax for the payment of | ||||||
25 | interest or principal on those bonds shall be
made only after | ||||||
26 | the governing body of the unit of local government finds that
|
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| |||||||
1 | all 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 the date on which the
| ||||||
5 | referendum making this
Law applicable to the taxing district | ||||||
6 | is held to
pay for the building project; (g) made for payments | ||||||
7 | due under installment
contracts entered into before the date | ||||||
8 | on which the referendum making this Law
applicable to
the | ||||||
9 | taxing district is held;
(h) made for payments
of principal | ||||||
10 | and interest on limited bonds,
as defined in Section 3 of the | ||||||
11 | Local Government Debt Reform Act, in an amount
not to exceed | ||||||
12 | the debt service extension base less the amount in items (b),
| ||||||
13 | (c), and (e) of this definition for non-referendum | ||||||
14 | obligations, except
obligations initially issued pursuant to | ||||||
15 | referendum; (i) made for payments
of
principal and interest on | ||||||
16 | bonds issued under Section 15 of the Local Government
Debt | ||||||
17 | Reform Act;
(j)
made for a qualified airport authority to pay | ||||||
18 | interest or principal on
general obligation bonds issued for | ||||||
19 | the purpose of paying obligations due
under, or financing | ||||||
20 | airport facilities required to be acquired, constructed,
| ||||||
21 | installed or equipped pursuant to, contracts entered into | ||||||
22 | before March
1, 1996 (but not including any amendments to such | ||||||
23 | a contract taking effect on
or after that date); (k) made to | ||||||
24 | fund expenses of providing joint
recreational programs for | ||||||
25 | persons with disabilities under Section 5-8 of
the
Park | ||||||
26 | District Code or Section 11-95-14 of the Illinois Municipal |
| |||||||
| |||||||
1 | Code; (l) made for contributions to a firefighter's pension | ||||||
2 | fund created under Article 4 of the Illinois Pension Code, to | ||||||
3 | the extent of the amount certified under item (5) of Section | ||||||
4 | 4-134 of the Illinois Pension Code; and (m) made for the taxing | ||||||
5 | district to pay interest or principal on general obligation | ||||||
6 | bonds issued pursuant to Section 19-3.10 of the School Code.
| ||||||
7 | "Aggregate extension" for all taxing districts to which | ||||||
8 | this Law applies in
accordance with paragraph (2) of | ||||||
9 | subsection (e) of Section 18-213 means the
annual corporate | ||||||
10 | extension for the
taxing district and those special purpose | ||||||
11 | extensions that are made annually for
the taxing district, | ||||||
12 | excluding special purpose extensions: (a) made for the
taxing | ||||||
13 | district to pay interest or principal on general obligation | ||||||
14 | bonds that
were approved by referendum; (b) made for any | ||||||
15 | taxing district to pay interest
or principal on general | ||||||
16 | obligation bonds issued before March 7, 1997 (the effective | ||||||
17 | date of Public Act 89-718);
(c) made
for any taxing district to | ||||||
18 | pay interest or principal on bonds issued to refund
or | ||||||
19 | continue to refund those bonds issued before March 7, 1997 | ||||||
20 | (the effective date
of Public Act 89-718);
(d) made for any
| ||||||
21 | taxing district to pay interest or principal on bonds issued | ||||||
22 | to refund or
continue to refund bonds issued after March 7, | ||||||
23 | 1997 (the effective date of Public Act 89-718) if the bonds | ||||||
24 | were approved by referendum after March 7, 1997 (the effective | ||||||
25 | date of Public Act 89-718);
(e) made for any
taxing district to | ||||||
26 | pay interest or principal on
revenue bonds issued before March |
| |||||||
| |||||||
1 | 7, 1997 (the effective date of Public Act 89-718)
for payment | ||||||
2 | of which a property tax
levy or the full faith and credit of | ||||||
3 | the unit of local government is pledged;
however, a tax for the | ||||||
4 | payment of interest or principal on those bonds shall be
made | ||||||
5 | only after the governing body of the unit of local government | ||||||
6 | finds that
all other sources for payment are insufficient to | ||||||
7 | make those payments; (f) made
for payments under a building | ||||||
8 | commission lease when the lease payments are for
the | ||||||
9 | retirement of bonds issued by the commission before March 7, | ||||||
10 | 1997 (the effective date
of Public Act 89-718)
to
pay for the | ||||||
11 | building project; (g) made for payments due under installment
| ||||||
12 | contracts entered into before March 7, 1997 (the effective | ||||||
13 | date of Public Act 89-718);
(h) made for payments
of principal | ||||||
14 | and interest on limited bonds,
as defined in Section 3 of the | ||||||
15 | Local Government Debt Reform Act, in an amount
not to exceed | ||||||
16 | the debt service extension base less the amount in items (b),
| ||||||
17 | (c), and (e) of this definition for non-referendum | ||||||
18 | obligations, except
obligations initially issued pursuant to | ||||||
19 | referendum; (i) made for payments
of
principal and interest on | ||||||
20 | bonds issued under Section 15 of the Local Government
Debt | ||||||
21 | Reform Act;
(j)
made for a qualified airport authority to pay | ||||||
22 | interest or principal on
general obligation bonds issued for | ||||||
23 | the purpose of paying obligations due
under, or financing | ||||||
24 | airport facilities required to be acquired, constructed,
| ||||||
25 | installed or equipped pursuant to, contracts entered into | ||||||
26 | before March
1, 1996 (but not including any amendments to such |
| |||||||
| |||||||
1 | a contract taking effect on
or after that date); (k) made to | ||||||
2 | fund expenses of providing joint
recreational programs for | ||||||
3 | persons with disabilities under Section 5-8 of
the
Park | ||||||
4 | District Code or Section 11-95-14 of the Illinois Municipal | ||||||
5 | Code; and (l) made for contributions to a firefighter's | ||||||
6 | pension fund created under Article 4 of the Illinois Pension | ||||||
7 | Code, to the extent of the amount certified under item (5) of | ||||||
8 | Section 4-134 of the Illinois Pension Code.
| ||||||
9 | "Debt service extension base" means an amount equal to | ||||||
10 | that portion of the
extension for a taxing district for the | ||||||
11 | 1994 levy year, or for those taxing
districts subject to this | ||||||
12 | Law in accordance with Section 18-213, except for
those | ||||||
13 | subject to paragraph (2) of subsection (e) of Section 18-213, | ||||||
14 | for the
levy
year in which the referendum making this Law | ||||||
15 | applicable to the taxing district
is held, or for those taxing | ||||||
16 | districts subject to this Law in accordance with
paragraph (2) | ||||||
17 | of subsection (e) of Section 18-213 for the 1996 levy year,
| ||||||
18 | constituting an
extension for payment of principal and | ||||||
19 | interest on bonds issued by the taxing
district without | ||||||
20 | referendum, but not including excluded non-referendum bonds. | ||||||
21 | For park districts (i) that were first
subject to this Law in | ||||||
22 | 1991 or 1995 and (ii) whose extension for the 1994 levy
year | ||||||
23 | for the payment of principal and interest on bonds issued by | ||||||
24 | the park
district without referendum (but not including | ||||||
25 | excluded non-referendum bonds)
was less than 51% of the amount | ||||||
26 | for the 1991 levy year constituting an
extension for payment |
| |||||||
| |||||||
1 | of principal and interest on bonds issued by the park
district | ||||||
2 | without referendum (but not including excluded non-referendum | ||||||
3 | bonds),
"debt service extension base" means an amount equal to | ||||||
4 | that portion of the
extension for the 1991 levy year | ||||||
5 | constituting an extension for payment of
principal and | ||||||
6 | interest on bonds issued by the park district without | ||||||
7 | referendum
(but not including excluded non-referendum bonds). | ||||||
8 | A debt service extension base established or increased at any | ||||||
9 | time pursuant to any provision of this Law, except Section | ||||||
10 | 18-212, shall be increased each year commencing with the later | ||||||
11 | of (i) the 2009 levy year or (ii) the first levy year in which | ||||||
12 | this Law becomes applicable to the taxing district, by the | ||||||
13 | lesser of 5% or the percentage increase in the Consumer Price | ||||||
14 | Index during the 12-month calendar year preceding the levy | ||||||
15 | year. The debt service extension
base may be established or | ||||||
16 | increased as provided under Section 18-212.
"Excluded | ||||||
17 | non-referendum bonds" means (i) bonds authorized by Public
Act | ||||||
18 | 88-503 and issued under Section 20a of the Chicago Park | ||||||
19 | District Act for
aquarium and museum projects; (ii) bonds | ||||||
20 | issued under Section 15 of the
Local Government Debt Reform | ||||||
21 | Act; or (iii) refunding obligations issued
to refund or to | ||||||
22 | continue to refund obligations initially issued pursuant to
| ||||||
23 | referendum.
| ||||||
24 | "Special purpose extensions" include, but are not limited | ||||||
25 | to, extensions
for levies made on an annual basis for | ||||||
26 | unemployment and workers'
compensation, self-insurance, |
| |||||||
| |||||||
1 | contributions to pension plans, and extensions
made pursuant | ||||||
2 | to Section 6-601 of the Illinois Highway Code for a road
| ||||||
3 | district's permanent road fund whether levied annually or not. | ||||||
4 | The
extension for a special service area is not included in the
| ||||||
5 | aggregate extension.
| ||||||
6 | "Aggregate extension base" means the taxing district's | ||||||
7 | last preceding
aggregate extension as adjusted under Sections | ||||||
8 | 18-135, 18-215,
18-230, 18-206, and 18-233.
Beginning with | ||||||
9 | levy year 2022, for taxing districts that are specified in | ||||||
10 | Section 18-190.7, the taxing district's aggregate extension | ||||||
11 | base shall be calculated as provided in Section 18-190.7. An | ||||||
12 | adjustment under Section 18-135 shall be made for the 2007 | ||||||
13 | levy year and all subsequent levy years whenever one or more | ||||||
14 | counties within which a taxing district is located (i) used | ||||||
15 | estimated valuations or rates when extending taxes in the | ||||||
16 | taxing district for the last preceding levy year that resulted | ||||||
17 | in the over or under extension of taxes, or (ii) increased or | ||||||
18 | decreased the tax extension for the last preceding levy year | ||||||
19 | as required by Section 18-135(c). Whenever an adjustment is | ||||||
20 | required under Section 18-135, the aggregate extension base of | ||||||
21 | the taxing district shall be equal to the amount that the | ||||||
22 | aggregate extension of the taxing district would have been for | ||||||
23 | the last preceding levy year if either or both (i) actual, | ||||||
24 | rather than estimated, valuations or rates had been used to | ||||||
25 | calculate the extension of taxes for the last levy year, or | ||||||
26 | (ii) the tax extension for the last preceding levy year had not |
| |||||||
| |||||||
1 | been adjusted as required by subsection (c) of Section 18-135.
| ||||||
2 | Notwithstanding any other provision of law, for levy year | ||||||
3 | 2012, the aggregate extension base for West Northfield School | ||||||
4 | District No. 31 in Cook County shall be $12,654,592. | ||||||
5 | Notwithstanding any other provision of law, for levy year | ||||||
6 | 2022, the aggregate extension base of a home equity assurance | ||||||
7 | program that levied at least $1,000,000 in property taxes in | ||||||
8 | levy year 2019 or 2020 under the Home Equity Assurance Act | ||||||
9 | shall be the amount that the program's aggregate extension | ||||||
10 | base for levy year 2021 would have been if the program had | ||||||
11 | levied a property tax for levy year 2021. | ||||||
12 | "Levy year" has the same meaning as "year" under Section
| ||||||
13 | 1-155.
| ||||||
14 | "New property" means (i) the assessed value, after final | ||||||
15 | board of review or
board of appeals action, of new | ||||||
16 | improvements or additions to existing
improvements on any | ||||||
17 | parcel of real property that increase the assessed value of
| ||||||
18 | that real property during the levy year multiplied by the | ||||||
19 | equalization factor
issued by the Department under Section | ||||||
20 | 17-30, (ii) the assessed value, after
final board of review or | ||||||
21 | board of appeals action, of real property not exempt
from real | ||||||
22 | estate taxation, which real property was exempt from real | ||||||
23 | estate
taxation for any portion of the immediately preceding | ||||||
24 | levy year, multiplied by
the equalization factor issued by the | ||||||
25 | Department under Section 17-30, including the assessed value, | ||||||
26 | upon final stabilization of occupancy after new construction |
| |||||||
| |||||||
1 | is complete, of any real property located within the | ||||||
2 | boundaries of an otherwise or previously exempt military | ||||||
3 | reservation that is intended for residential use and owned by | ||||||
4 | or leased to a private corporation or other entity,
(iii) in | ||||||
5 | counties that classify in accordance with Section 4 of Article
| ||||||
6 | IX of the
Illinois Constitution, an incentive property's | ||||||
7 | additional assessed value
resulting from a
scheduled increase | ||||||
8 | in the level of assessment as applied to the first year
final | ||||||
9 | board of
review market value, and (iv) any increase in | ||||||
10 | assessed value due to oil or gas production from an oil or gas | ||||||
11 | well required to be permitted under the Hydraulic Fracturing | ||||||
12 | Regulatory Act that was not produced in or accounted for | ||||||
13 | during the previous levy year.
In addition, the county clerk | ||||||
14 | in a county containing a population of
3,000,000 or more shall | ||||||
15 | include in the 1997
recovered tax increment value for any | ||||||
16 | school district, any recovered tax
increment value that was | ||||||
17 | applicable to the 1995 tax year calculations.
| ||||||
18 | "Qualified airport authority" means an airport authority | ||||||
19 | organized under
the Airport Authorities Act and located in a | ||||||
20 | county bordering on the State of
Wisconsin and having a | ||||||
21 | population in excess of 200,000 and not greater than
500,000.
| ||||||
22 | "Recovered tax increment value" means, except as otherwise | ||||||
23 | provided in this
paragraph, the amount of the current year's | ||||||
24 | equalized assessed value, in the
first year after a | ||||||
25 | municipality terminates
the designation of an area as a | ||||||
26 | redevelopment project area previously
established under the |
| |||||||
| |||||||
1 | Tax Increment Allocation Redevelopment Act in the Illinois
| ||||||
2 | Municipal Code, previously established under the Industrial | ||||||
3 | Jobs Recovery Law
in the Illinois Municipal Code, previously | ||||||
4 | established under the Economic Development Project Area Tax | ||||||
5 | Increment Act of 1995, or previously established under the | ||||||
6 | Economic
Development Area Tax Increment Allocation Act, of | ||||||
7 | each taxable lot, block,
tract, or parcel of real property in | ||||||
8 | the redevelopment project area over and
above the initial | ||||||
9 | equalized assessed value of each property in the
redevelopment | ||||||
10 | project area.
For the taxes which are extended for the 1997 | ||||||
11 | levy year, the recovered tax
increment value for a non-home | ||||||
12 | rule taxing district that first became subject
to this Law for | ||||||
13 | the 1995 levy year because a majority of its 1994 equalized
| ||||||
14 | assessed value was in an affected county or counties shall be | ||||||
15 | increased if a
municipality terminated the designation of an | ||||||
16 | area in 1993 as a redevelopment
project area previously | ||||||
17 | established under the Tax Increment Allocation Redevelopment
| ||||||
18 | Act in the Illinois Municipal Code, previously established | ||||||
19 | under
the Industrial Jobs Recovery Law in the Illinois | ||||||
20 | Municipal Code, or previously
established under the Economic | ||||||
21 | Development Area Tax Increment Allocation Act,
by an amount | ||||||
22 | equal to the 1994 equalized assessed value of each taxable | ||||||
23 | lot,
block, tract, or parcel of real property in the | ||||||
24 | redevelopment project area over
and above the initial | ||||||
25 | equalized assessed value of each property in the
redevelopment | ||||||
26 | project area.
In the first year after a municipality
removes a |
| |||||||
| |||||||
1 | taxable lot, block, tract, or parcel of real property from a
| ||||||
2 | redevelopment project area established under the Tax Increment | ||||||
3 | Allocation Redevelopment
Act in the Illinois
Municipal Code, | ||||||
4 | the Industrial Jobs Recovery Law
in the Illinois Municipal | ||||||
5 | Code, or the Economic
Development Area Tax Increment | ||||||
6 | Allocation Act, "recovered tax increment value"
means the | ||||||
7 | amount of the current year's equalized assessed value of each | ||||||
8 | taxable
lot, block, tract, or parcel of real property removed | ||||||
9 | from the redevelopment
project area over and above the initial | ||||||
10 | equalized assessed value of that real
property before removal | ||||||
11 | from the redevelopment project area.
| ||||||
12 | Except as otherwise provided in this Section, "limiting | ||||||
13 | rate" means a
fraction the numerator of which is the last
| ||||||
14 | preceding aggregate extension base times an amount equal to | ||||||
15 | one plus the
extension limitation defined in this Section and | ||||||
16 | the denominator of which
is the current year's equalized | ||||||
17 | assessed value of all real property in the
territory under the | ||||||
18 | jurisdiction of the taxing district during the prior
levy | ||||||
19 | year. For those taxing districts that reduced their aggregate
| ||||||
20 | extension for the last preceding levy year, except for school | ||||||
21 | districts that reduced their extension for educational | ||||||
22 | purposes pursuant to Section 18-206, the highest aggregate | ||||||
23 | extension
in any of the last 3 preceding levy years shall be | ||||||
24 | used for the purpose of
computing the limiting rate. The | ||||||
25 | denominator shall not include new
property or the recovered | ||||||
26 | tax increment
value.
If a new rate, a rate decrease, or a |
| |||||||
| |||||||
1 | limiting rate increase has been approved at an election held | ||||||
2 | after March 21, 2006, then (i) the otherwise applicable | ||||||
3 | limiting rate shall be increased by the amount of the new rate | ||||||
4 | or shall be reduced by the amount of the rate decrease, as the | ||||||
5 | case may be, or (ii) in the case of a limiting rate increase, | ||||||
6 | the limiting rate shall be equal to the rate set forth
in the | ||||||
7 | proposition approved by the voters for each of the years | ||||||
8 | specified in the proposition, after
which the limiting rate of | ||||||
9 | the taxing district shall be calculated as otherwise provided. | ||||||
10 | In the case of a taxing district that obtained referendum | ||||||
11 | approval for an increased limiting rate on March 20, 2012, the | ||||||
12 | limiting rate for tax year 2012 shall be the rate that | ||||||
13 | generates the approximate total amount of taxes extendable for | ||||||
14 | that tax year, as set forth in the proposition approved by the | ||||||
15 | voters; this rate shall be the final rate applied by the county | ||||||
16 | clerk for the aggregate of all capped funds of the district for | ||||||
17 | tax year 2012.
| ||||||
18 | (Source: P.A. 102-263, eff. 8-6-21; 102-311, eff. 8-6-21; | ||||||
19 | 102-519, eff. 8-20-21; 102-558, eff. 8-20-21; revised | ||||||
20 | 10-5-21.)
| ||||||
21 | (35 ILCS 200/18-190.7 new) | ||||||
22 | Sec. 18-190.7. Alternative aggregate extension base for | ||||||
23 | certain taxing districts; recapture. | ||||||
24 | (a) This Section applies to the following taxing districts | ||||||
25 | that are subject to this Division 5: |
| |||||||
| |||||||
1 | (1) school districts that have a designation of | ||||||
2 | recognition or review according to the State Board of | ||||||
3 | Education's School District Financial Profile System as of | ||||||
4 | the first day of the levy year for which the taxing | ||||||
5 | district seeks to increase its aggregate extension under | ||||||
6 | this Section; | ||||||
7 | (2) park districts; | ||||||
8 | (3) library districts; and | ||||||
9 | (4) community college districts. | ||||||
10 | (b) Subject to the limitations of subsection (c), | ||||||
11 | beginning in levy year 2022, a taxing district specified in | ||||||
12 | subsection (a) may recapture certain levy amounts that are | ||||||
13 | otherwise unavailable to the taxing district as a result of | ||||||
14 | the taxing district not extending the maximum amount permitted | ||||||
15 | under this Division 5 in a previous levy year. For that | ||||||
16 | purpose, the taxing district's aggregate extension base shall | ||||||
17 | be the greater of: (1) the taxing district's aggregate | ||||||
18 | extension limit; or (2) the taxing district's last preceding | ||||||
19 | aggregate extension, as adjusted under Sections 18-135, | ||||||
20 | 18-215, 18-230, 18-206, and 18-233. | ||||||
21 | (c) Notwithstanding the provisions of this Section, the | ||||||
22 | aggregate extension of a taxing district that uses an | ||||||
23 | aggregate extension limit under this Section for a particular | ||||||
24 | levy year may not exceed the taxing district's aggregate | ||||||
25 | extension for the immediately preceding levy year by more than | ||||||
26 | 5% unless the increase is approved by the voters under Section |
| |||||||
| |||||||
1 | 18-205; however, if a taxing district is unable to recapture | ||||||
2 | the entire unrealized levy amount in a single levy year due to | ||||||
3 | the limitations of this subsection (c), the taxing district | ||||||
4 | may increase its aggregate extension in each immediately | ||||||
5 | succeeding levy year until the entire levy amount is | ||||||
6 | recaptured, except that the increase in each succeeding levy | ||||||
7 | year may not exceed the greater of (i) 5% or (ii) the increase | ||||||
8 | approved by the voters under Section 18-205. | ||||||
9 | In order to be eligible for recapture under this Section, | ||||||
10 | the taxing district must certify to the county clerk that the | ||||||
11 | taxing district did not extend the maximum amount permitted | ||||||
12 | under this Division 5 for a particular levy year. That | ||||||
13 | certification must be made not more than 30 days after the | ||||||
14 | taxing district's budget and levy ordinance is adopted for the | ||||||
15 | levy year for which the taxing district did not extend the | ||||||
16 | maximum amount permitted under this Division 5. | ||||||
17 | (d) As used in this Section, "aggregate extension limit" | ||||||
18 | means the taxing district's last preceding aggregate extension | ||||||
19 | if the district had utilized the maximum limiting rate | ||||||
20 | permitted without referendum for each of the 3 immediately | ||||||
21 | preceding levy years, as adjusted under Section 18-135, | ||||||
22 | 18-215, 18-230, 18-206, and 18-233.
| ||||||
23 | Section 99. Effective date. This Act takes effect upon | ||||||
24 | becoming law.".
|