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1 | AN ACT concerning taxation.
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2 | Be it enacted by the People of the State of Illinois,
| ||||||||||||||||||||||||||||||||
3 | represented in the General Assembly:
| ||||||||||||||||||||||||||||||||
4 | Section 5. The Property Tax Code is amended by changing | ||||||||||||||||||||||||||||||||
5 | Sections 18-80 and 18-185 as follows:
| ||||||||||||||||||||||||||||||||
6 | (35 ILCS 200/18-80)
| ||||||||||||||||||||||||||||||||
7 | Sec. 18-80. Time and form of notice. The notice shall | ||||||||||||||||||||||||||||||||
8 | appear not more than
14 days nor less than 7 days prior to the | ||||||||||||||||||||||||||||||||
9 | date of the public hearing. The
notice shall be no less than | ||||||||||||||||||||||||||||||||
10 | 1/8 page in size, and the smallest type used shall
be 12 point | ||||||||||||||||||||||||||||||||
11 | and shall be enclosed in a black border no less than 1/4 inch | ||||||||||||||||||||||||||||||||
12 | wide.
The notice shall not be placed in that portion of the | ||||||||||||||||||||||||||||||||
13 | newspaper where legal
notices and classified advertisements | ||||||||||||||||||||||||||||||||
14 | appear. The notice for all taxing districts except school | ||||||||||||||||||||||||||||||||
15 | districts shall be published in
substantially the following | ||||||||||||||||||||||||||||||||
16 | form:
| ||||||||||||||||||||||||||||||||
17 | Notice of Proposed Property Tax Increase for ... (commonly | ||||||||||||||||||||||||||||||||
18 | known name of
taxing district).
| ||||||||||||||||||||||||||||||||
19 | I. A public hearing to approve a proposed property tax levy | ||||||||||||||||||||||||||||||||
20 | increase for
... (legal name of the taxing district)... for ... | ||||||||||||||||||||||||||||||||
21 | (year) ... will be held
on ... (date) ... at ... (time) ... at | ||||||||||||||||||||||||||||||||
22 | ... (location).
| ||||||||||||||||||||||||||||||||
23 | Any person desiring to appear at the public hearing and | ||||||||||||||||||||||||||||||||
24 | present testimony
to the taxing district may contact ... (name, | ||||||||||||||||||||||||||||||||
25 | title, address and telephone
number of an appropriate | ||||||||||||||||||||||||||||||||
26 | official).
| ||||||||||||||||||||||||||||||||
27 | II. The corporate and special purpose property taxes | ||||||||||||||||||||||||||||||||
28 | extended or abated
for ... (preceding year) ... were ... | ||||||||||||||||||||||||||||||||
29 | (dollar amount of the final aggregate
levy as extended, plus | ||||||||||||||||||||||||||||||||
30 | the amount abated by the taxing district prior to
extension).
| ||||||||||||||||||||||||||||||||
31 | The proposed corporate and special purpose property taxes | ||||||||||||||||||||||||||||||||
32 | to be levied
for ... (current year) ... are ... (dollar amount |
| |||||||
|
|||||||
1 | of the proposed aggregate
levy). This represents a ... | ||||||
2 | (percentage) ... increase over the previous
year.
| ||||||
3 | III. The property taxes extended for debt service and | ||||||
4 | public building
commission leases for ... (preceding year) ... | ||||||
5 | were ... (dollar amount).
| ||||||
6 | The estimated property taxes to be levied for debt service | ||||||
7 | and public
building commission leases for ... (current year) | ||||||
8 | ... are ... (dollar
amount). This represents a ... (percentage | ||||||
9 | increase or decrease) ... over
the previous year.
| ||||||
10 | IV. The total property taxes extended or abated for ... | ||||||
11 | (preceding year)
... were ... (dollar amount).
| ||||||
12 | The estimated total property taxes to be levied for ... | ||||||
13 | (current year)
... are ... (dollar amount). This represents a | ||||||
14 | ... (percentage increase or
decrease) ... over the previous | ||||||
15 | year.
| ||||||
16 | The notice for all school districts shall be published in
| ||||||
17 | substantially the following form:
| ||||||
18 | Notice of Proposed Property Tax Increase for ... (commonly | ||||||
19 | known name of
school district).
| ||||||
20 | I. A public hearing to approve a proposed property tax levy | ||||||
21 | increase for
... (legal name of the taxing district)... for ... | ||||||
22 | (year) ... will be held
on ... (date) ... at ... (time) ... at | ||||||
23 | ... (location).
| ||||||
24 | Any person desiring to appear at the public hearing and | ||||||
25 | present testimony
to the taxing district may contact ... (name, | ||||||
26 | title, address, and telephone
number of an appropriate | ||||||
27 | official).
| ||||||
28 | II. The corporate and special purpose property taxes | ||||||
29 | extended or abated
for ... (preceding year) ... were ... | ||||||
30 | (dollar amount of the final aggregate
levy as extended, plus | ||||||
31 | the amount abated by the taxing district prior to
extension).
| ||||||
32 | The proposed corporate and special purpose property taxes | ||||||
33 | to be levied
for ... (current year) ... are ... (dollar amount | ||||||
34 | of the proposed aggregate
levy). This represents a ... | ||||||
35 | (percentage) ... increase over the previous
year.
| ||||||
36 | III. The property taxes extended for debt service and |
| |||||||
|
|||||||
1 | public building
commission leases for ... (preceding year) ... | ||||||
2 | were ... (dollar amount).
| ||||||
3 | The estimated property taxes to be levied for debt service | ||||||
4 | and public
building commission leases for ... (current year) | ||||||
5 | ... are ... (dollar
amount). This represents a ... (percentage | ||||||
6 | increase or decrease) ... over
the previous year.
| ||||||
7 | IV. The audit completed for fiscal year ... (previous | ||||||
8 | fiscal year) for the Special Education Mandate listed a | ||||||
9 | shortfall of ... (dollar amount of shortfall; $0 if a surplus). | ||||||
10 | The audit completed for that fiscal year for the Transportation | ||||||
11 | Mandate listed a shortfall of ... (dollar amount of shortfall; | ||||||
12 | $0 if a surplus). The proposed Mandate Shortfall Relief Levy | ||||||
13 | for the Special Education Mandate for ... (current year) is ... | ||||||
14 | (dollar amount not to exceed the amount of the audited | ||||||
15 | shortfall). The proposed Mandate Shortfall Relief Levy for the | ||||||
16 | Transportation Mandate for ... (current year) is ... (dollar | ||||||
17 | amount not to exceed the amount of the audited shortfall).
| ||||||
18 | V. The total property taxes extended or abated for ... | ||||||
19 | (preceding year)
... were ... (dollar amount).
| ||||||
20 | The estimated total property taxes to be levied for ... | ||||||
21 | (current year)
... are ... (dollar amount). This represents a | ||||||
22 | ... (percentage increase or
decrease) ... over the previous | ||||||
23 | year.
| ||||||
24 | Any notice which includes any information not specified and | ||||||
25 | required by this
Article shall be an invalid notice.
| ||||||
26 | All hearings shall be open to the public. The corporate | ||||||
27 | authority of the
taxing district shall explain the reasons for | ||||||
28 | the proposed increase and
shall permit persons desiring to be | ||||||
29 | heard an opportunity to present testimony
within reasonable | ||||||
30 | time limits as it determines.
| ||||||
31 | (Source: P.A. 92-382, eff. 8-16-01.)
| ||||||
32 | (35 ILCS 200/18-185)
| ||||||
33 | Sec. 18-185. Short title; definitions. This Division 5 may | ||||||
34 | be cited as the
Property Tax Extension Limitation Law. As used | ||||||
35 | in this Division 5:
|
| |||||||
|
|||||||
1 | "Consumer Price Index" means the Consumer Price Index for | ||||||
2 | All Urban
Consumers for all items published by the United | ||||||
3 | States Department of Labor.
| ||||||
4 | "Extension limitation" means (a) the lesser of 5% or the | ||||||
5 | percentage increase
in the Consumer Price Index during the | ||||||
6 | 12-month calendar year preceding the
levy year or (b) the rate | ||||||
7 | of increase approved by voters under Section 18-205.
| ||||||
8 | "Affected county" means a county of 3,000,000 or more | ||||||
9 | inhabitants or a
county contiguous to a county of 3,000,000 or | ||||||
10 | more inhabitants.
| ||||||
11 | "Taxing district" has the same meaning provided in Section | ||||||
12 | 1-150, except as
otherwise provided in this Section. For the | ||||||
13 | 1991 through 1994 levy years only,
"taxing district" includes | ||||||
14 | only each non-home rule taxing district having the
majority of | ||||||
15 | its
1990 equalized assessed value within any county or counties | ||||||
16 | contiguous to a
county with 3,000,000 or more inhabitants. | ||||||
17 | Beginning with the 1995 levy
year, "taxing district" includes | ||||||
18 | only each non-home rule taxing district
subject to this Law | ||||||
19 | before the 1995 levy year and each non-home rule
taxing | ||||||
20 | district not subject to this Law before the 1995 levy year | ||||||
21 | having the
majority of its 1994 equalized assessed value in an | ||||||
22 | affected county or
counties. Beginning with the levy year in
| ||||||
23 | which this Law becomes applicable to a taxing district as
| ||||||
24 | provided in Section 18-213, "taxing district" also includes | ||||||
25 | those taxing
districts made subject to this Law as provided in | ||||||
26 | Section 18-213.
| ||||||
27 | "Aggregate extension" for taxing districts to which this | ||||||
28 | Law applied before
the 1995 levy year means the annual | ||||||
29 | corporate extension for the taxing
district and those special | ||||||
30 | purpose extensions that are made annually for
the taxing | ||||||
31 | district, excluding special purpose extensions: (a) made for | ||||||
32 | the
taxing district to pay interest or principal on general | ||||||
33 | obligation bonds
that were approved by referendum; (b) made for | ||||||
34 | any taxing district to pay
interest or principal on general | ||||||
35 | obligation bonds issued before October 1,
1991; (c) made for | ||||||
36 | any taxing district to pay interest or principal on bonds
|
| |||||||
|
|||||||
1 | issued to refund or continue to refund those bonds issued | ||||||
2 | before October 1,
1991; (d)
made for any taxing district to pay | ||||||
3 | interest or principal on bonds
issued to refund or continue to | ||||||
4 | refund bonds issued after October 1, 1991 that
were approved by | ||||||
5 | referendum; (e)
made for any taxing district to pay interest
or | ||||||
6 | principal on revenue bonds issued before October 1, 1991 for | ||||||
7 | payment of
which a property tax levy or the full faith and | ||||||
8 | credit of the unit of local
government is pledged; however, a | ||||||
9 | tax for the payment of interest or principal
on those bonds | ||||||
10 | shall be made only after the governing body of the unit of | ||||||
11 | local
government finds that all other sources for payment are | ||||||
12 | insufficient to make
those payments; (f) made for payments | ||||||
13 | under a building commission lease when
the lease payments are | ||||||
14 | for the retirement of bonds issued by the commission
before | ||||||
15 | October 1, 1991, to pay for the building project; (g) made for | ||||||
16 | payments
due under installment contracts entered into before | ||||||
17 | October 1, 1991;
(h) made for payments of principal and | ||||||
18 | interest on bonds issued under the
Metropolitan Water | ||||||
19 | Reclamation District Act to finance construction projects
| ||||||
20 | initiated before October 1, 1991; (i) made for payments of | ||||||
21 | principal and
interest on limited bonds, as defined in Section | ||||||
22 | 3 of the Local Government Debt
Reform Act, in an amount not to | ||||||
23 | exceed the debt service extension base less
the amount in items | ||||||
24 | (b), (c), (e), and (h) of this definition for
non-referendum | ||||||
25 | obligations, except obligations initially issued pursuant to
| ||||||
26 | referendum; (j) made for payments of principal and interest on | ||||||
27 | bonds
issued under Section 15 of the Local Government Debt | ||||||
28 | Reform Act; (k)
made
by a school district that participates in | ||||||
29 | the Special Education District of
Lake County, created by | ||||||
30 | special education joint agreement under Section
10-22.31 of the | ||||||
31 | School Code, for payment of the school district's share of the
| ||||||
32 | amounts required to be contributed by the Special Education | ||||||
33 | District of Lake
County to the Illinois Municipal Retirement | ||||||
34 | Fund under Article 7 of the
Illinois Pension Code; the amount | ||||||
35 | of any extension under this item (k) shall be
certified by the | ||||||
36 | school district to the county clerk; and (l) made to fund
|
| |||||||
|
|||||||
1 | expenses of providing joint recreational programs for the | ||||||
2 | handicapped under
Section 5-8 of
the
Park District Code or | ||||||
3 | Section 11-95-14 of the Illinois Municipal Code ; and (m) made | ||||||
4 | for any mandate shortfall relief levy under Section 17-9.02 of | ||||||
5 | the School Code .
| ||||||
6 | "Aggregate extension" for the taxing districts to which | ||||||
7 | this Law did not
apply before the 1995 levy year (except taxing | ||||||
8 | districts subject to this Law
in
accordance with Section | ||||||
9 | 18-213) means the annual corporate extension for the
taxing | ||||||
10 | district and those special purpose extensions that are made | ||||||
11 | annually for
the taxing district, excluding special purpose | ||||||
12 | extensions: (a) made for the
taxing district to pay interest or | ||||||
13 | principal on general obligation bonds that
were approved by | ||||||
14 | referendum; (b) made for any taxing district to pay interest
or | ||||||
15 | principal on general obligation bonds issued before March 1, | ||||||
16 | 1995; (c) made
for any taxing district to pay interest or | ||||||
17 | principal on bonds issued to refund
or continue to refund those | ||||||
18 | bonds issued before March 1, 1995; (d) made for any
taxing | ||||||
19 | district to pay interest or principal on bonds issued to refund | ||||||
20 | or
continue to refund bonds issued after March 1, 1995 that | ||||||
21 | were approved by
referendum; (e) made for any taxing district | ||||||
22 | to pay interest or principal on
revenue bonds issued before | ||||||
23 | March 1, 1995 for payment of which a property tax
levy or the | ||||||
24 | full faith and credit of the unit of local government is | ||||||
25 | pledged;
however, a tax for the payment of interest or | ||||||
26 | principal on those bonds shall be
made only after the governing | ||||||
27 | body of the unit of local government finds that
all other | ||||||
28 | sources for payment are insufficient to make those payments; | ||||||
29 | (f) made
for payments under a building commission lease when | ||||||
30 | the lease payments are for
the retirement of bonds issued by | ||||||
31 | the commission before March 1, 1995 to
pay for the building | ||||||
32 | project; (g) made for payments due under installment
contracts | ||||||
33 | entered into before March 1, 1995; (h) made for payments of
| ||||||
34 | principal and interest on bonds issued under the Metropolitan | ||||||
35 | Water Reclamation
District Act to finance construction | ||||||
36 | projects initiated before October 1,
1991; (i) made for |
| |||||||
|
|||||||
1 | payments of principal and interest on limited bonds,
as defined | ||||||
2 | in Section 3 of the Local Government Debt Reform Act, in an | ||||||
3 | amount
not to exceed the debt service extension base less the | ||||||
4 | amount in items (b),
(c), and (e) of this definition for | ||||||
5 | non-referendum obligations, except
obligations initially | ||||||
6 | issued pursuant to referendum and bonds described in
subsection | ||||||
7 | (h) of this definition; (j) made for payments of
principal and | ||||||
8 | interest on bonds issued under Section 15 of the Local | ||||||
9 | Government
Debt Reform Act; (k) made for payments of principal | ||||||
10 | and interest on bonds
authorized by Public Act 88-503 and | ||||||
11 | issued under Section 20a of the Chicago
Park District Act for | ||||||
12 | aquarium or
museum projects; (l) made for payments of principal | ||||||
13 | and interest on
bonds
authorized by Public Act 87-1191 or | ||||||
14 | 93-601
this amendatory Act of the 93rd General
Assembly and (i) | ||||||
15 | issued pursuant to Section 21.2 of the Cook County Forest
| ||||||
16 | Preserve District Act, (ii) issued under Section 42 of the Cook | ||||||
17 | County
Forest Preserve District Act for zoological park | ||||||
18 | projects, or (iii) issued
under Section 44.1 of the Cook County | ||||||
19 | Forest Preserve District Act for
botanical gardens projects; | ||||||
20 | (m) made
pursuant
to Section 34-53.5 of the School Code, | ||||||
21 | whether levied annually or not;
(n) made to fund expenses of | ||||||
22 | providing joint recreational programs for the
handicapped | ||||||
23 | under Section 5-8 of the Park
District Code or Section 11-95-14 | ||||||
24 | of the Illinois Municipal Code;
and (o) made by the
Chicago | ||||||
25 | Park
District for recreational programs for the handicapped | ||||||
26 | under subsection (c) of
Section
7.06 of the Chicago Park | ||||||
27 | District Act ; and (p) made for any mandate shortfall relief | ||||||
28 | levy under Section 17-9.02 of the School Code .
| ||||||
29 | "Aggregate extension" for all taxing districts to which | ||||||
30 | this Law applies in
accordance with Section 18-213, except for | ||||||
31 | those taxing districts subject to
paragraph (2) of subsection | ||||||
32 | (e) of Section 18-213, means the annual corporate
extension for | ||||||
33 | the
taxing district and those special purpose extensions that | ||||||
34 | are made annually for
the taxing district, excluding special | ||||||
35 | purpose extensions: (a) made for the
taxing district to pay | ||||||
36 | interest or principal on general obligation bonds that
were |
| |||||||
|
|||||||
1 | approved by referendum; (b) made for any taxing district to pay | ||||||
2 | interest
or principal on general obligation bonds issued before | ||||||
3 | the date on which the
referendum making this
Law applicable to | ||||||
4 | the taxing district is held; (c) made
for any taxing district | ||||||
5 | to pay interest or principal on bonds issued to refund
or | ||||||
6 | continue to refund those bonds issued before the date on which | ||||||
7 | the
referendum making this Law
applicable to the taxing | ||||||
8 | district is held;
(d) made for any
taxing district to pay | ||||||
9 | interest or principal on bonds issued to refund or
continue to | ||||||
10 | refund bonds issued after the date on which the referendum | ||||||
11 | making
this Law
applicable to the taxing district is held if | ||||||
12 | the bonds were approved by
referendum after the date on which | ||||||
13 | the referendum making this Law
applicable to the taxing | ||||||
14 | district is held; (e) made for any
taxing district to pay | ||||||
15 | interest or principal on
revenue bonds issued before the date | ||||||
16 | on which the referendum making this Law
applicable to the
| ||||||
17 | taxing district is held for payment of which a property tax
| ||||||
18 | levy or the full faith and credit of the unit of local | ||||||
19 | government is pledged;
however, a tax for the payment of | ||||||
20 | interest or principal on those bonds shall be
made only after | ||||||
21 | the governing body of the unit of local government finds that
| ||||||
22 | all other sources for payment are insufficient to make those | ||||||
23 | payments; (f) made
for payments under a building commission | ||||||
24 | lease when the lease payments are for
the retirement of bonds | ||||||
25 | issued by the commission before the date on which the
| ||||||
26 | referendum making this
Law applicable to the taxing district is | ||||||
27 | held to
pay for the building project; (g) made for payments due | ||||||
28 | under installment
contracts entered into before the date on | ||||||
29 | which the referendum making this Law
applicable to
the taxing | ||||||
30 | district is held;
(h) made for payments
of principal and | ||||||
31 | interest on limited bonds,
as defined in Section 3 of the Local | ||||||
32 | Government Debt Reform Act, in an amount
not to exceed the debt | ||||||
33 | service extension base less the amount in items (b),
(c), and | ||||||
34 | (e) of this definition for non-referendum obligations, except
| ||||||
35 | obligations initially issued pursuant to referendum; (i) made | ||||||
36 | for payments
of
principal and interest on bonds issued under |
| |||||||
|
|||||||
1 | Section 15 of the Local Government
Debt Reform Act;
(j)
made | ||||||
2 | for a qualified airport authority to pay interest or principal | ||||||
3 | on
general obligation bonds issued for the purpose of paying | ||||||
4 | obligations due
under, or financing airport facilities | ||||||
5 | required to be acquired, constructed,
installed or equipped | ||||||
6 | pursuant to, contracts entered into before March
1, 1996 (but | ||||||
7 | not including any amendments to such a contract taking effect | ||||||
8 | on
or after that date); and (k) made to fund expenses of | ||||||
9 | providing joint
recreational programs for the handicapped | ||||||
10 | under Section 5-8 of
the
Park District Code or Section 11-95-14 | ||||||
11 | of the Illinois Municipal Code ; and (l) made for any mandate | ||||||
12 | shortfall relief levy under Section 17-9.02 of the School Code .
| ||||||
13 | "Aggregate extension" for all taxing districts to which | ||||||
14 | this Law applies in
accordance with paragraph (2) of subsection | ||||||
15 | (e) of Section 18-213 means the
annual corporate extension for | ||||||
16 | the
taxing district and those special purpose extensions that | ||||||
17 | are made annually for
the taxing district, excluding special | ||||||
18 | purpose extensions: (a) made for the
taxing district to pay | ||||||
19 | interest or principal on general obligation bonds that
were | ||||||
20 | approved by referendum; (b) made for any taxing district to pay | ||||||
21 | interest
or principal on general obligation bonds issued before | ||||||
22 | the effective date of
this amendatory Act of 1997;
(c) made
for | ||||||
23 | any taxing district to pay interest or principal on bonds | ||||||
24 | issued to refund
or continue to refund those bonds issued | ||||||
25 | before the effective date
of this amendatory Act of 1997;
(d) | ||||||
26 | made for any
taxing district to pay interest or principal on | ||||||
27 | bonds issued to refund or
continue to refund bonds issued after | ||||||
28 | the effective date of this amendatory Act
of 1997 if the bonds | ||||||
29 | were approved by referendum after the effective date of
this | ||||||
30 | amendatory Act of 1997;
(e) made for any
taxing district to pay | ||||||
31 | interest or principal on
revenue bonds issued before the | ||||||
32 | effective date of this amendatory Act of 1997
for payment of | ||||||
33 | which a property tax
levy or the full faith and credit of the | ||||||
34 | unit of local government is pledged;
however, a tax for the | ||||||
35 | payment of interest or principal on those bonds shall be
made | ||||||
36 | only after the governing body of the unit of local government |
| |||||||
|
|||||||
1 | finds that
all other sources for payment are insufficient to | ||||||
2 | make those payments; (f) made
for payments under a building | ||||||
3 | commission lease when the lease payments are for
the retirement | ||||||
4 | of bonds issued by the commission before the effective date
of | ||||||
5 | this amendatory Act of 1997
to
pay for the building project; | ||||||
6 | (g) made for payments due under installment
contracts entered | ||||||
7 | into before the effective date of this amendatory Act of
1997;
| ||||||
8 | (h) made for payments
of principal and interest on limited | ||||||
9 | bonds,
as defined in Section 3 of the Local Government Debt | ||||||
10 | Reform Act, in an amount
not to exceed the debt service | ||||||
11 | extension base less the amount in items (b),
(c), and (e) of | ||||||
12 | this definition for non-referendum obligations, except
| ||||||
13 | obligations initially issued pursuant to referendum; (i) made | ||||||
14 | for payments
of
principal and interest on bonds issued under | ||||||
15 | Section 15 of the Local Government
Debt Reform Act;
(j)
made | ||||||
16 | for a qualified airport authority to pay interest or principal | ||||||
17 | on
general obligation bonds issued for the purpose of paying | ||||||
18 | obligations due
under, or financing airport facilities | ||||||
19 | required to be acquired, constructed,
installed or equipped | ||||||
20 | pursuant to, contracts entered into before March
1, 1996 (but | ||||||
21 | not including any amendments to such a contract taking effect | ||||||
22 | on
or after that date); and (k) made to fund expenses of | ||||||
23 | providing joint
recreational programs for the handicapped | ||||||
24 | under Section 5-8 of
the
Park District Code or Section 11-95-14 | ||||||
25 | of the Illinois Municipal Code ; and (l) made for any mandate | ||||||
26 | shortfall relief levy under Section 17-9.02 of the School Code .
| ||||||
27 | "Debt service extension base" means ,for all taxing | ||||||
28 | districts except school districts, an amount equal to that | ||||||
29 | portion of the
extension for a taxing district for the 1994 | ||||||
30 | levy year, or for those taxing
districts subject to this Law in | ||||||
31 | accordance with Section 18-213, except for
those subject to | ||||||
32 | paragraph (2) of subsection (e) of Section 18-213, for the
levy
| ||||||
33 | year in which the referendum making this Law applicable to the | ||||||
34 | taxing district
is held, or for those taxing districts subject | ||||||
35 | to this Law in accordance with
paragraph (2) of subsection (e) | ||||||
36 | of Section 18-213 for the 1996 levy year,
constituting an
|
| |||||||
|
|||||||
1 | extension for payment of principal and interest on bonds issued | ||||||
2 | by the taxing
district without referendum, but not including | ||||||
3 | excluded non-referendum bonds. For park districts (i) that were | ||||||
4 | first
subject to this Law in 1991 or 1995 and (ii) whose | ||||||
5 | extension for the 1994 levy
year for the payment of principal | ||||||
6 | and interest on bonds issued by the park
district without | ||||||
7 | referendum (but not including excluded non-referendum bonds)
| ||||||
8 | was less than 51% of the amount for the 1991 levy year | ||||||
9 | constituting an
extension for payment of principal and interest | ||||||
10 | on bonds issued by the park
district without referendum (but | ||||||
11 | not including excluded non-referendum bonds),
"debt service | ||||||
12 | extension base" means an amount equal to that portion of the
| ||||||
13 | extension for the 1991 levy year constituting an extension for | ||||||
14 | payment of
principal and interest on bonds issued by the park | ||||||
15 | district without referendum
(but not including excluded | ||||||
16 | non-referendum bonds). The debt service extension
base may be | ||||||
17 | established or increased as provided under Section 18-212.
| ||||||
18 | "Excluded non-referendum bonds" means (i) bonds authorized by | ||||||
19 | Public
Act 88-503 and issued under Section 20a of the Chicago | ||||||
20 | Park District Act for
aquarium and museum projects; (ii) bonds | ||||||
21 | issued under Section 15 of the
Local Government Debt Reform | ||||||
22 | Act; or (iii) refunding obligations issued
to refund or to | ||||||
23 | continue to refund obligations initially issued pursuant to
| ||||||
24 | referendum.
"Debt service extension base" means, for school | ||||||
25 | districts, an amount equal to 33% of the school district's | ||||||
26 | currently applicable debt limitation under Section 19-1 of the | ||||||
27 | School Code.
| ||||||
28 | "Special purpose extensions" include, but are not limited | ||||||
29 | to, extensions
for levies made on an annual basis for | ||||||
30 | unemployment and workers'
compensation, self-insurance, | ||||||
31 | contributions to pension plans, and extensions
made pursuant to | ||||||
32 | Section 6-601 of the Illinois Highway Code for a road
| ||||||
33 | district's permanent road fund whether levied annually or not. | ||||||
34 | The
extension for a special service area is not included in the
| ||||||
35 | aggregate extension.
| ||||||
36 | "Aggregate extension base" means the taxing district's |
| |||||||
|
|||||||
1 | last preceding
aggregate extension as adjusted under Sections | ||||||
2 | 18-215 through 18-230.
| ||||||
3 | "Levy year" has the same meaning as "year" under Section
| ||||||
4 | 1-155.
| ||||||
5 | "New property" means (i) the assessed value, after final | ||||||
6 | board of review or
board of appeals action, of new improvements | ||||||
7 | or additions to existing
improvements on any parcel of real | ||||||
8 | property that increase the assessed value of
that real property | ||||||
9 | during the levy year multiplied by the equalization factor
| ||||||
10 | issued by the Department under Section 17-30, (ii) the assessed | ||||||
11 | value, after
final board of review or board of appeals action, | ||||||
12 | of real property not exempt
from real estate taxation, which | ||||||
13 | real property was exempt from real estate
taxation for any | ||||||
14 | portion of the immediately preceding levy year, multiplied by
| ||||||
15 | the equalization factor issued by the Department under Section | ||||||
16 | 17-30, and
(iii) in counties that classify in accordance with | ||||||
17 | Section 4 of Article
IX of the
Illinois Constitution, an | ||||||
18 | incentive property's additional assessed value
resulting from | ||||||
19 | a
scheduled increase in the level of assessment as applied to | ||||||
20 | the first year
final board of
review market value.
In addition, | ||||||
21 | the county clerk in a county containing a population of
| ||||||
22 | 3,000,000 or more shall include in the 1997
recovered tax | ||||||
23 | increment value for any school district, any recovered tax
| ||||||
24 | increment value that was applicable to the 1995 tax year | ||||||
25 | calculations.
| ||||||
26 | "Qualified airport authority" means an airport authority | ||||||
27 | organized under
the Airport Authorities Act and located in a | ||||||
28 | county bordering on the State of
Wisconsin and having a | ||||||
29 | population in excess of 200,000 and not greater than
500,000.
| ||||||
30 | "Recovered tax increment value" means, except as otherwise | ||||||
31 | provided in this
paragraph, the amount of the current year's | ||||||
32 | equalized assessed value, in the
first year after a | ||||||
33 | municipality terminates
the designation of an area as a | ||||||
34 | redevelopment project area previously
established under the | ||||||
35 | Tax Increment Allocation Development Act in the Illinois
| ||||||
36 | Municipal Code, previously established under the Industrial |
| |||||||
|
|||||||
1 | Jobs Recovery Law
in the Illinois Municipal Code, or previously | ||||||
2 | established under the Economic
Development Area Tax Increment | ||||||
3 | Allocation Act, of each taxable lot, block,
tract, or parcel of | ||||||
4 | real property in the redevelopment project area over and
above | ||||||
5 | the initial equalized assessed value of each property in the
| ||||||
6 | redevelopment project area.
For the taxes which are extended | ||||||
7 | for the 1997 levy year, the recovered tax
increment value for a | ||||||
8 | non-home rule taxing district that first became subject
to this | ||||||
9 | Law for the 1995 levy year because a majority of its 1994 | ||||||
10 | equalized
assessed value was in an affected county or counties | ||||||
11 | shall be increased if a
municipality terminated the designation | ||||||
12 | of an area in 1993 as a redevelopment
project area previously | ||||||
13 | established under the Tax Increment Allocation
Development Act | ||||||
14 | in the Illinois Municipal Code, previously established under
| ||||||
15 | the Industrial Jobs Recovery Law in the Illinois Municipal | ||||||
16 | Code, or previously
established under the Economic Development | ||||||
17 | Area Tax Increment Allocation Act,
by an amount equal to the | ||||||
18 | 1994 equalized assessed value of each taxable lot,
block, | ||||||
19 | tract, or parcel of real property in the redevelopment project | ||||||
20 | area over
and above the initial equalized assessed value of | ||||||
21 | each property in the
redevelopment project area.
In the first | ||||||
22 | year after a municipality
removes a taxable lot, block, tract, | ||||||
23 | or parcel of real property from a
redevelopment project area | ||||||
24 | established under the Tax Increment Allocation
Development Act | ||||||
25 | in the Illinois
Municipal Code, the Industrial Jobs Recovery | ||||||
26 | Law
in the Illinois Municipal Code, or the Economic
Development | ||||||
27 | Area Tax Increment Allocation Act, "recovered tax increment | ||||||
28 | value"
means the amount of the current year's equalized | ||||||
29 | assessed value of each taxable
lot, block, tract, or parcel of | ||||||
30 | real property removed from the redevelopment
project area over | ||||||
31 | and above the initial equalized assessed value of that real
| ||||||
32 | property before removal from the redevelopment project area.
| ||||||
33 | Except as otherwise provided in this Section, "limiting | ||||||
34 | rate" means a
fraction the numerator of which is the last
| ||||||
35 | preceding aggregate extension base times an amount equal to one | ||||||
36 | plus the
extension limitation defined in this Section and the |
| |||||||
|
|||||||
1 | denominator of which
is the current year's equalized assessed | ||||||
2 | value of all real property in the
territory under the | ||||||
3 | jurisdiction of the taxing district during the prior
levy year. | ||||||
4 | For those taxing districts that reduced their aggregate
| ||||||
5 | extension for the last preceding levy year, the highest | ||||||
6 | aggregate extension
in any of the last 3 preceding levy years | ||||||
7 | shall be used for the purpose of
computing the limiting rate. | ||||||
8 | The denominator shall not include new
property. The denominator | ||||||
9 | shall not include the recovered tax increment
value.
| ||||||
10 | (Source: P.A. 92-547, eff. 6-13-02; 93-601, eff. 1-1-04; | ||||||
11 | 93-606, eff. 11-18-03; 93-612, eff. 11-18-03; revised | ||||||
12 | 12-10-03.)
| ||||||
13 | Section 10. The School Code is amended by changing Section | ||||||
14 | 3-15.1 and by adding Sections 2-3.134 and 17-9.02 as follows: | ||||||
15 | (105 ILCS 5/2-3.134 new) | ||||||
16 | Sec. 2-3.134. Mandates shortfall audits. To require to be | ||||||
17 | included in the annual financial statement of each school | ||||||
18 | district prepared and submitted under Section 3-15.1 of this | ||||||
19 | Code a report showing the receipts and disbursements for | ||||||
20 | special educational purposes and for transportation purposes, | ||||||
21 | including the balance in those funds. Each statement must show | ||||||
22 | an amount for each such fund reflecting the extent to which | ||||||
23 | disbursements for each such purpose exceeded receipts for each | ||||||
24 | such purposes, those receipts excluding any transfers from | ||||||
25 | other school district funds and excluding revenues raised from | ||||||
26 | any taxes levied pursuant to Section 17-9.02 of this Code. Such | ||||||
27 | amount in either fund shall be considered a "mandate shortfall" | ||||||
28 | for the audited year and shall permit a mandate shortfall | ||||||
29 | relief levy in the next occurring school district levy, subject | ||||||
30 | to the provisions of Section 17-9.02 of this Code. The State | ||||||
31 | Board may adopt any rules necessary and consistent with the | ||||||
32 | requirements of this Section to implement its provisions.
| ||||||
33 | (105 ILCS 5/3-15.1) (from Ch. 122, par. 3-15.1)
|
| |||||||
|
|||||||
1 | Sec. 3-15.1. Reports. To require the appointed school | ||||||
2 | treasurer in Class
II counties, in each school district which | ||||||
3 | forms a part of a Class II
county school unit but which is not | ||||||
4 | subject to the jurisdiction of the
trustees of schools of any | ||||||
5 | township in which such district is located, and
in each school | ||||||
6 | district of the Class I counties to prepare and forward to
his | ||||||
7 | office on or before October 15, annually, and at such other | ||||||
8 | times as
may be required by him or by the State Board of | ||||||
9 | Education a statement
exhibiting the financial condition of the | ||||||
10 | school for the preceding year
commencing on July 1 and ending | ||||||
11 | June 30.
| ||||||
12 | In Class I county school units, and in each school district | ||||||
13 | which forms
a part of a Class II county school unit but which | ||||||
14 | is not subject to the
jurisdiction of the trustees of schools | ||||||
15 | of any township in
which such school district is located, the | ||||||
16 | statement shall in the case of
districts on the accrual basis | ||||||
17 | show the assets, liabilities and fund
balance of the funds as | ||||||
18 | of the end of the fiscal year. The statement
shall show the | ||||||
19 | operation of the funds for the fiscal year with a
| ||||||
20 | reconciliation and analysis of changes in the funds at the end | ||||||
21 | of the
period. For districts on a cash basis the statement | ||||||
22 | shall show the
receipts and disbursements by funds including | ||||||
23 | the source of receipts and
purpose for which the disbursements | ||||||
24 | were made together with the balance
at the end of the fiscal | ||||||
25 | year. Each school district that is the
administrator of a joint | ||||||
26 | agreement shall cause an Annual Financial
Statement to be | ||||||
27 | submitted on forms prescribed by the State Board of
Education | ||||||
28 | exhibiting the financial condition of the program established
| ||||||
29 | pursuant to the joint agreement, for the fiscal year ending on | ||||||
30 | the
immediately preceding June 30.
| ||||||
31 | The regional superintendent shall send all required | ||||||
32 | reports to the
State Board of Education on or before November | ||||||
33 | 15, annually.
| ||||||
34 | For all districts the statements shall show bonded debt, | ||||||
35 | tax
warrants, taxes received and receivable by funds and such | ||||||
36 | other
information as may be required by the State Board of |
| |||||||
|
|||||||
1 | Education. The statements shall also show the special education | ||||||
2 | and transportation mandate shortfalls and the other | ||||||
3 | information required under Section 2-3.134 of this Code. Any
| ||||||
4 | district from which such report is not so received when
| ||||||
5 | required shall have its portion of the distributive fund | ||||||
6 | withheld for
the next ensuing year until such report is filed.
| ||||||
7 | If a district is divided by a county line or lines the | ||||||
8 | foregoing
required statement shall be forwarded to the regional | ||||||
9 | superintendent of
schools having supervision and control of the | ||||||
10 | district.
| ||||||
11 | (Source: P.A. 86-1441; 87-473.)
| ||||||
12 | (105 ILCS 5/17-9.02 new) | ||||||
13 | Sec. 17-9.02. Mandates shortfall relief levies.
| ||||||
14 | (a) The school board of any district may, by proper | ||||||
15 | resolution, levy an annual tax to be known as the "mandate | ||||||
16 | shortfall relief levy for the special education mandate," upon | ||||||
17 | the value of the taxable property within its territory as | ||||||
18 | equalized or assessed by the Department of Revenue at a rate | ||||||
19 | that will produce a sum sufficient to offset the mandate | ||||||
20 | shortfall for the most recently audited year for the special | ||||||
21 | education mandate as determined under Section 2-3.134 of this | ||||||
22 | Code and reported in the school district's annual financial | ||||||
23 | report. The revenue raised by such tax shall be used only for | ||||||
24 | the same special education purposes for which revenues raised | ||||||
25 | by the tax authorized under Section 17-2.2a of this Code may be | ||||||
26 | used. | ||||||
27 | (b) The school board of any district may, by proper | ||||||
28 | resolution, levy an annual tax to be known as the "mandate | ||||||
29 | shortfall relief levy for the transportation mandate," upon the | ||||||
30 | value of the taxable property within its territory as equalized | ||||||
31 | or assessed by the Department of Revenue at a rate that will | ||||||
32 | produce a sum sufficient to offset the mandate shortfall for | ||||||
33 | the most recently audited year for the transportation mandate | ||||||
34 | as determined under Section 2-3.134 of this Code and reported | ||||||
35 | in the school district's annual financial report. The revenue |
| |||||||
|
|||||||
1 | raised by such tax shall be used only for the same | ||||||
2 | transportation purposes for which revenues raised by the | ||||||
3 | transportation tax authorized under item (5) of Section 17-2 of | ||||||
4 | this Code may be used.
| ||||||
5 | Section 99. Effective date. This Act takes effect on July | ||||||
6 | 1, 2004.
|