093_SB0802ham012
LRB093 02941 RCE 17161 a
1 AMENDMENT TO SENATE BILL 802
2 AMENDMENT NO. . Amend Senate Bill 802, AS AMENDED,
3 with reference to page and line numbers of House Amendment
4 No. 9, by changing "the west" each time it appears to "the
5 east" in each of the following places: page 4, line 12; and
6 page 4, line 16; and
7 by replacing page 6 and lines 1 through 6 on page 7 with the
8 following:
9 "Section 21. Reimbursement for tax base losses.
10 (a) Whenever the City acquires parcels of property
11 within any school district or community college district for
12 the O'Hare Modernization Program, the City shall, for the
13 following taxable year and for each of the 5 taxable years
14 thereafter, pay to that district the amount of the total
15 property tax liability of the acquired parcels to the
16 district for the 2002 taxable year, increased or decreased
17 each year by the percentage change of the district's total
18 tax extension for the current taxable year from the total tax
19 extension for the prior taxable year; provided that no annual
20 increase shall exceed the lesser of 5% or the annual increase
21 in the Consumer Price Index. Funds payable by the City under
22 this Section shall be paid exclusively from non-tax revenues
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1 generated at airports owned by the City, and shall not exceed
2 the amount of those funds that can be paid for that purpose
3 under 49 U.S.C. 47107(l)(2).
4 (b) Notwithstanding any other provision of this Section:
5 (i) no funds shall be payable by the City under this Section
6 with respect to any taxable year succeeding the 2009 taxable
7 year; (ii) in no event shall such funds be payable on or
8 after January 1, 2010; (iii) in no event shall the total
9 funds paid by the City pursuant to this Section to all
10 districts for all taxable years exceed $20,000,000; and (iv)
11 any amounts payable to a district by the City with respect to
12 any parcel of property for any taxable year shall be reduced
13 by the amount of taxes actually paid to the district for that
14 taxable year with respect to that parcel or any leasehold
15 interest therein.
16 (c) Whenever the City acquires property that is subject
17 to this Section, the City shall notify the assessor of the
18 county in which the property is located. The assessor or the
19 clerk of that county shall, on an annual basis, notify the
20 affected school district or community college district of all
21 property that has been identified as being subject to this
22 Section, and shall provide the district and the City with
23 such information as may be required in determining the
24 amounts payable by the City under this Section. The City
25 shall make payments as required by this Section no later than
26 90 days after that information is received and verified by
27 the City.
28 (d) As used in this Section, "Consumer Price Index"
29 means the Consumer Price Index for All Urban Consumers for
30 all items published by the United States Department of
31 Labor"; and
32 by changing "the west" each time it appears to "the east" in
33 each of the following places: page 18, line 31; and page 19,
34 line 2.