093_SB0873sam001

 










                                     LRB093 02815 SJM 12683 a

 1                    AMENDMENT TO SENATE BILL 873

 2        AMENDMENT NO.     .  Amend Senate Bill 873  by  replacing
 3    the title with the following:
 4        "AN ACT concerning taxes."; and

 5    by  replacing  everything  after the enacting clause with the
 6    following:

 7        "Section 5.  The State Finance Act is amended  by  adding
 8    Sections 5.595 and 6z-59 as follows:

 9        (30 ILCS 105/5.595 new)
10        Sec. 5.595.  The Tax Recovery Fund.

11        (30 ILCS 105/6z-59 new)
12        Sec.  6z-59.  The  Tax Recovery Fund. There is created in
13    the State treasury the Tax Recovery Fund.   Through  December
14    31,  2010,  all  moneys  received from the rental, authorized
15    under Section 2705-555 of the  Department  of  Transportation
16    Law  of  the  Civil Administrative Code of Illinois, of land,
17    buildings, or improvements on property held  for  development
18    of   an   airport   in  Will  County  by  the  Department  of
19    Transportation shall be remitted to the State  Treasurer  for
20    payment into the Tax Recovery Fund. Subject to appropriation,
 
                            -2-      LRB093 02815 SJM 12683 a
 1    the  moneys  in the Fund shall be expended with the following
 2    priority: (1) to compensate units  of  local  government  for
 3    property taxes that would have been extended and collected on
 4    Will  County  real property before ownership by the State for
 5    the development of the airport (tax compensation);  then  (2)
 6    to  pay  maintenance and repair costs for that real property.
 7    Expenditures for these purposes may be made by the Department
 8    of Transportation without regard to the fiscal year in  which
 9    tax  compensation  liability  and  property  maintenance  and
10    repair  costs  were  incurred.  Unexpended moneys in the Fund
11    shall not be transferred or allocated by the  Comptroller  or
12    Treasurer  to any other fund nor shall the Governor authorize
13    the transfer or allocation of those moneys to any other fund.
14    After December 31, 2010, all moneys received from the rental,
15    authorized  under  Section  2705-555  of  the  Department  of
16    Transportation  Law  of  the  Civil  Administrative  Code  of
17    Illinois, of land, buildings,  or  improvements  on  property
18    held  for the development of an airport in Will County by the
19    Department of Transportation shall not be remitted to the Tax
20    Recovery Fund but  shall  instead  be  paid  to  the  General
21    Revenue  Fund. The balance remaining in the Tax Recovery Fund
22    on December 31, 2010 shall first be  expended  to  compensate
23    units of local government for taxes for the 2010 property tax
24    assessment  year  and prorated through December 31, 2010, and
25    then transferred to the General Revenue Fund for the  purpose
26    of  debt  service  on State bonds issued to provide funds for
27    airport land acquisition in Will County.

28        Section 10.  The Property Tax Code is amended by changing
29    Section 15-55 as follows:

30        (35 ILCS 200/15-55)
31        Sec. 15-55.  State property.  All property  belonging  to
32    the  State  of  Illinois is exempt. However, the State agency
 
                            -3-      LRB093 02815 SJM 12683 a
 1    holding title shall file the certificate of ownership and use
 2    required by Section  15-10,  together  with  a  copy  of  any
 3    written  lease  or  agreement,  in  effect on March 30 of the
 4    assessment year, concerning parcels of 1 acre or more, or  an
 5    explanation  of  the  terms of any oral agreement under which
 6    the property is leased, subleased or rented.
 7        The leased property shall be assessed to the  lessee  and
 8    the  taxes  thereon  extended  and  billed to the lessee, and
 9    collected in the same manner as for  property  which  is  not
10    exempt.  The lessee shall be liable for the taxes and no lien
11    shall attach to the property of the State.
12        For the purposes  of  this  Section,  the  word  "leases"
13    includes licenses, franchises, operating agreements and other
14    arrangements under which private individuals, associations or
15    corporations  are  granted  the  right to use property of the
16    Illinois  State  Toll  Highway  Authority  and  includes  all
17    property of the Authority used by others  without  regard  to
18    the size of the leased parcel.
19        However,  all  property  of  every  kind belonging to the
20    State of Illinois, which is or may hereafter be leased to the
21    Illinois Prairie Path Corporation, shall be exempt  from  all
22    assessments,  taxation  or  collection, despite the making of
23    any such lease, if it is used for:
24             (a)  conservation,  nature  trail   or   any   other
25        charitable,   scientific,   educational  or  recreational
26        purposes with public benefit,  including  the  preserving
27        and aiding in the preservation of natural areas, objects,
28        flora, fauna or biotic communities;
29             (b)  the  establishment  of  footpaths,  trails  and
30        other protected areas;
31             (c)  the  conservation  of the proper use of natural
32        resources or the promotion of  the  study  of  plant  and
33        animal  communities  and  of  other  phases  of  ecology,
34        natural history and conservation;
 
                            -4-      LRB093 02815 SJM 12683 a
 1             (d)  the  promotion  of  education  in the fields of
 2        nature, preservation and conservation; or
 3             (e)  similar    public    recreational    activities
 4        conducted by the Illinois Prairie Path Corporation.
 5        No lien shall attach to the property of the State. No tax
 6    liability shall become the obligation of  or  be  enforceable
 7    against Illinois Prairie Path Corporation.
 8        However,  the  lessee  of each parcel of real property in
 9    Will County owned by the State of Illinois for the purpose of
10    developing an airport by  the  Department  of  Transportation
11    shall  not  be liable for the taxes thereon. In order for the
12    State to compensate units of local government for taxes  that
13    would  have  been  extended and collected on Will County real
14    property before ownership by the State for the development of
15    the airport, the Will County Supervisor of Assessments  shall
16    certify, in writing, to the Department of Transportation, the
17    amount  of  assessed  taxes for each such parcel for the 2001
18    property tax year. The Department of Transportation shall pay
19    to the Will County Treasurer, from the Tax Recovery Fund,  on
20    or  before  July 1 of each year, the amount of rent collected
21    for each parcel during the previous year (tax  compensation).
22    The  payment, however, shall not exceed, for each parcel, the
23    assessed tax amount for the 2001 property tax year.  The  tax
24    compensation  shall terminate on December 31, 2010. It is the
25    duty of the Department of Transportation  to  file  with  the
26    Office  of  the  Will  County  Supervisor  of  Assessments an
27    affidavit stating the termination date  for  rental  of  each
28    such  parcel due to airport construction. The affidavit shall
29    include the property  identification  number  for  each  such
30    parcel.  In  no  instance shall tax compensation for property
31    owned by the State be deemed delinquent or bear interest.  In
32    no instance shall a lien attach to the property of the State.
33    In  no  instance  shall the State be required to pay property
34    tax  compensation  in  excess  of  the  Tax  Recovery  Fund's
 
                            -5-      LRB093 02815 SJM 12683 a
 1    balance.
 2        Public Act 81-1026 applies to all  leases  or  agreements
 3    entered into or renewed on or after September 24, 1979.
 4    (Source: P.A. 86-413; 88-455.)

 5        Section  99.  Effective date.  This Act takes effect upon
 6    becoming law.".