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1 | AN ACT concerning revenue.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 5. The Property Tax Code is amended by adding | ||||||
5 | Division 7 to Article 18 as follows: | ||||||
6 | (35 ILCS 200/Art. 18 Div. 7 heading new) | ||||||
7 | Division 7. Township Property Tax Extension Freeze Law. | ||||||
8 | (35 ILCS 200/18-280 new) | ||||||
9 | Sec. 18-280. Short title; definitions. This Division 7 may | ||||||
10 | be cited as the Township Property Tax Extension Freeze Law. | ||||||
11 | As used in this Division 7: | ||||||
12 | "Aggregate extension" means the annual corporate extension | ||||||
13 | for the town fund of the township, excluding highway funds, | ||||||
14 | general assistance funds, and any special purpose extensions. | ||||||
15 | "Town fund" means the fund or funds for which moneys are | ||||||
16 | appropriated by townships for general operating expenses in | ||||||
17 | compliance with Section 3 of the Illinois Municipal Budget Law. | ||||||
18 | "Current year" means the 2014 levy year. | ||||||
19 | "Special purpose extensions" include, but are not limited | ||||||
20 | to, extensions for levies made on an annual basis for | ||||||
21 | unemployment and workers' compensation, self-insurance, | ||||||
22 | contributions to pension plans, whether levied annually or not. |
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1 | The extension for a special service area is not included in the | ||||||
2 | aggregate extension. | ||||||
3 | "Aggregate extension base" means the township's aggregate | ||||||
4 | extension for the 2013 levy year. | ||||||
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 and (ii) the | ||||||
11 | assessed value, after final board of review or board of appeals | ||||||
12 | action, of real property not exempt from real estate taxation, | ||||||
13 | which real property was exempt from real estate taxation for | ||||||
14 | any portion of the immediately preceding levy year, multiplied | ||||||
15 | by the equalization factor issued by the Department under | ||||||
16 | Section 17-30. | ||||||
17 | "Recovered tax increment value" means the amount of the | ||||||
18 | current year's equalized assessed value, in the first year | ||||||
19 | after a city terminates the designation of an area as a | ||||||
20 | redevelopment project area previously established under the | ||||||
21 | Tax Increment Allocation Development Act of the Illinois | ||||||
22 | Municipal Code, previously established under the Industrial | ||||||
23 | Jobs Recovery Law of the Illinois Municipal Code, or previously | ||||||
24 | established under the Economic Development Area Tax Increment | ||||||
25 | Allocation Act, of each taxable lot, block, tract, or parcel of | ||||||
26 | real property in the redevelopment project area over and above |
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1 | the initial equalized assessed value of each property in the | ||||||
2 | redevelopment project area. | ||||||
3 | Except as otherwise provided in this Division, "limiting | ||||||
4 | rate" means a fraction the numerator of which is the aggregate | ||||||
5 | extension base and the denominator of which is the current | ||||||
6 | year's equalized assessed value of all real property in the | ||||||
7 | territory under the jurisdiction of the township during the | ||||||
8 | 2013 levy year. The denominator shall not include new property | ||||||
9 | and shall not include the recovered tax increment value. | ||||||
10 | (35 ILCS 200/18-285 new) | ||||||
11 | Sec. 18-285. Township extensions. | ||||||
12 | (a) Notwithstanding any other provision of law, in counties | ||||||
13 | under township organization that are subject to the Property | ||||||
14 | Tax Extension Limitation Law, for the 2014 levy year, for those | ||||||
15 | townships with a population of 100,000 or less, according to | ||||||
16 | the most recent federal decennial census, for which the county | ||||||
17 | clerk extended taxes for any funds included in the aggregate | ||||||
18 | extension base for the 2013 levy year, the county clerk shall | ||||||
19 | extend a rate for the sum of the funds in the township's | ||||||
20 | aggregate extension base that is no greater than the limiting | ||||||
21 | rate. Notwithstanding any other provision of law, except as | ||||||
22 | provided in subsection (b), this Section limits the increase in | ||||||
23 | the township's 2014 aggregate extension to 0%. Notwithstanding | ||||||
24 | any other provision of law, this Section does not apply to the | ||||||
25 | following townships: Orland, Bloom, Rich, Stickney, and |
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1 | Calumet. | ||||||
2 | (b) If and only if the township obtains referendum approval | ||||||
3 | for an increased limiting rate under Section 18-290, then the | ||||||
4 | county clerk shall extend a rate for the sum of the funds in | ||||||
5 | the township's aggregate extension base that is no greater than | ||||||
6 | the increased limiting rate. | ||||||
7 | (c) If the county clerk is required to reduce the aggregate | ||||||
8 | extension of a township under the provisions of this Division, | ||||||
9 | then the county clerk shall proportionally reduce the extension | ||||||
10 | for each fund included in the aggregate extension, unless a | ||||||
11 | different method of reduction is requested by the township. | ||||||
12 | (35 ILCS 200/18-290 new) | ||||||
13 | Sec. 18-290. Increased limiting rate. A township that is | ||||||
14 | subject to the limitation set forth in Section 18-285 may | ||||||
15 | increase its limiting rate for the 2014 levy year if and only | ||||||
16 | if the township submits the question at referendum before the | ||||||
17 | levy date for the applicable year, and if a majority of voters | ||||||
18 | voting on the issue approves adoption of the increased limiting | ||||||
19 | rate. Referenda shall be conducted at a regularly scheduled | ||||||
20 | election in accordance with the Election Code. The question | ||||||
21 | shall be presented in substantially the following manner: | ||||||
22 | Shall the limiting rate under the Township Property Tax | ||||||
23 | Extension Freeze Law for (township), Illinois, be | ||||||
24 | increased to (increased limiting rate)? | ||||||
25 | Votes shall be recorded as "Yes" or "No".
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1 | Section 90. The State Mandates Act is amended by adding | ||||||
2 | Section 8.38 as follows: | ||||||
3 | (30 ILCS 805/8.38 new) | ||||||
4 | Sec. 8.38. Exempt mandate. Notwithstanding Sections 6 and 8 | ||||||
5 | of this Act, no reimbursement by the State is required for the | ||||||
6 | implementation of any mandate created by this amendatory Act of | ||||||
7 | the 98th General Assembly. | ||||||
8 | Section 99. Effective date. This Act takes effect upon | ||||||
9 | becoming law.
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