Rep. JoAnn D. Osmond
Filed: 3/17/2005
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1 | AMENDMENT TO HOUSE BILL 3095
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2 | AMENDMENT NO. ______. Amend House Bill 3095 by replacing | ||||||
3 | everything after the enacting clause with the following:
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4 | "Section 5. The School Code is amended by changing
Section | ||||||
5 | 17-2.2d as follows:
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6 | (105 ILCS 5/17-2.2d)
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7 | Sec. 17-2.2d. Special taxing and bonding for temporary | ||||||
8 | relocation expense and emergency replacement purposes. | ||||||
9 | (a) In addition to any other taxes and notwithstanding any | ||||||
10 | limitation imposed by the Property Tax Extension Limitation Law | ||||||
11 | or any other limitations specified in this Code or any other | ||||||
12 | law, the school board of any district subject to this Code
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13 | having a population of less than 500,000 inhabitants that meets | ||||||
14 | the criteria specified in subsection (c) of this Section, may, | ||||||
15 | by proper resolution, levy an annual tax not to exceed 0.05% | ||||||
16 | upon the value of the taxable property as equalized or assessed | ||||||
17 | by the Department of Revenue for a period not to exceed 7 years | ||||||
18 | for the purpose of providing for the repayment of moneys paid | ||||||
19 | to the district
distributed for temporary relocation expenses | ||||||
20 | of the district pursuant to Section 2-3.77 of this Code. | ||||||
21 | (b) The school board of any district that meets the | ||||||
22 | criteria specified in subsection (c) of this Section may | ||||||
23 | repair, reconstruct, or replace a condemned building without | ||||||
24 | seeking referendum approval for the repair, reconstruction, or |
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1 | replacement.
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2 | (c) In order for this Section to apply, the school district | ||||||
3 | must (i) be located in a county subject to the Property Tax | ||||||
4 | Extension Limitation Law , (ii) have had a total enrollment of | ||||||
5 | at least 1,075 students as shown on the 2003 Illinois State | ||||||
6 | Report Card, and (ii)
(iii) have had a school building | ||||||
7 | condemned within 10 years after the building's initial | ||||||
8 | occupancy
after January 1, 2004 and prior to June 30, 2004 .
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9 | (d) Notwithstanding any limitation imposed by the Property | ||||||
10 | Tax Extension Limitation Law or any other limitations specified | ||||||
11 | in this Code or any other law, the school board of any district | ||||||
12 | that meets the criteria specified in subsection (c) of this | ||||||
13 | Section, may, by proper resolution, issue bonds, without | ||||||
14 | referendum, in an amount sufficient to finance the total cost | ||||||
15 | of repair, reconstruction, or replacement of the condemned | ||||||
16 | building , including the costs of providing for the payment of | ||||||
17 | any obligations heretofore or hereafter entered into for such | ||||||
18 | purposes . Any premium and all interest earnings on the proceeds | ||||||
19 | of the bonds so issued shall be used for the purposes for which | ||||||
20 | the bonds were issued. The proceeds of any bonds issued under | ||||||
21 | this Section shall be deposited and accounted for separately | ||||||
22 | within the district's site and construction/capital | ||||||
23 | improvements fund. The recording officer of the board shall | ||||||
24 | file in the office of the county clerk of each county in which | ||||||
25 | a portion of the district is situated a certified copy of the | ||||||
26 | resolution providing for the issuance of the bonds and levy of | ||||||
27 | a tax without limit as to rate or amount to pay the bonds. | ||||||
28 | Bonds issued under this Section and any bonds issued to refund | ||||||
29 | those
these bonds are not subject to any debt limitation | ||||||
30 | imposed by this Code or any other law .
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31 | (e) The school board, as an express condition to receiving | ||||||
32 | a temporary relocation loan under Section 2-3.77 of this Code, | ||||||
33 | must agree to levy the tax provided in this Section at the | ||||||
34 | maximum rate permitted and to pay to the State of Illinois for |
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1 | deposit into the Temporary Relocation Expenses Revolving Grant | ||||||
2 | Fund (i) all proceeds of the tax attributable to the first year | ||||||
3 | and succeeding years for which the tax is levied after moneys | ||||||
4 | appropriated for purposes of Section 2-3.77 have been | ||||||
5 | distributed to the school district and (ii) all insurance | ||||||
6 | proceeds that become payable to the district under those | ||||||
7 | provisions of any contract or policy of insurance that provide | ||||||
8 | reimbursement for or other coverage against loss with respect | ||||||
9 | to any temporary relocation expenses of the district or | ||||||
10 | proceeds of any legal judgment or settlement regarding the | ||||||
11 | temporary relocation expenses incurred by the district, | ||||||
12 | provided that the aggregate of any tax and insurance or other | ||||||
13 | proceeds paid by the district to the State pursuant to this | ||||||
14 | subsection (e) shall not exceed in amount the moneys | ||||||
15 | distributed to the district pursuant to Section 2-3.77 as a | ||||||
16 | loan or grant.
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17 | (f) If bonds under this Section have been issued by the | ||||||
18 | school district and the purposes for which the bonds have been | ||||||
19 | issued are accomplished and paid for in full and there remain | ||||||
20 | funds on hand from the proceeds of the bonds or interest | ||||||
21 | earnings or premiums, then the school board, by resolution, | ||||||
22 | shall transfer those excess funds to the district's bond and | ||||||
23 | interest fund for the purpose of abating taxes to pay debt | ||||||
24 | service on the bonds or for defeasance of the debt or both.
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25 | (g) If the school district receives a construction grant | ||||||
26 | under the School Construction Law or any other law and the | ||||||
27 | purposes for which the grant was issued are accomplished and | ||||||
28 | paid for in full and there remains funds on hand from the grant | ||||||
29 | or interest earnings thereon, then the excess funds shall be | ||||||
30 | paid to the State of Illinois for deposit into the School | ||||||
31 | Construction Fund or other State fund from which the | ||||||
32 | construction grant was paid. | ||||||
33 | (h) All insurance proceeds that become payable to the | ||||||
34 | school district under those provisions of a contract or policy |
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1 | of insurance that provide reimbursement for or other coverage | ||||||
2 | against losses other than with respect to any temporary | ||||||
3 | relocation expenses of the district or proceeds of any legal | ||||||
4 | judgment or settlement regarding the repair, reconstruction, | ||||||
5 | or replacement of the condemned building shall be applied to | ||||||
6 | the repair, reconstruction, or replacement. If the project is | ||||||
7 | completed and, therefore, all costs have been paid for in full | ||||||
8 | and there remain funds on hand, including any interest earnings | ||||||
9 | thereon, from the insurance coverage, legal judgment, or | ||||||
10 | settlement, then a portion of those excess funds equal to the | ||||||
11 | State's share of the construction cost of the project shall be | ||||||
12 | paid to the State of Illinois for deposit into the School | ||||||
13 | Construction Fund or other State fund from which the | ||||||
14 | construction grant was paid, and the remainder of the excess | ||||||
15 | funds shall be transferred to the district's bond and interest | ||||||
16 | fund for the purpose of abating taxes to pay debt service on | ||||||
17 | the bonds or for defeasance of the debt or both. If no debt | ||||||
18 | service remains to be paid, then the excess may be transferred | ||||||
19 | to whichever fund that, as determined by the school board, is | ||||||
20 | most in need of the funds.
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21 | (Source: P.A. 93-690, eff. 7-1-04.)
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22 | Section 99. Effective date. This Act takes effect upon | ||||||
23 | becoming law.".
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