HB3596 95TH GENERAL ASSEMBLY

LRB095 09999 HLH 30213 b

95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
HB3596

Introduced 2/28/2007, by Rep. Dennis M. Reboletti

SYNOPSIS AS INTRODUCED:

65 ILCS 5/8-1-19 new

Amends the Illinois Municipal Code. Provides that the City of Chicago shall create a special fund for the purpose of compensating property owners whose property values are diminished because of expansion at O'Hare Airport. Provides that a portion of the landing fees generated at O'Hare Airport sufficient to cover the costs associated with compensating the property owners shall be deposited into the Fund.

A BILL FOR

AN ACT concerning local government.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Illinois Municipal Code is amended by adding Section 8-1-19 as follows:

(65 ILCS 5/8-1-19 new)

Sec. 8-1-19. O'Hare Expansion Fund. As soon as possible after the effective date of this amendatory Act of the 95th General Assembly, the corporate authorities of the City of Chicago shall create a special fund for the purpose of compensating property owners whose property values are diminished because of expansion at O'Hare International Airport. A portion of the landing fees generated at O'Hare International Airport sufficient to cover the costs associated with compensating the property owners shall be deposited into the Fund.