HB2639 96TH GENERAL ASSEMBLY

LRB096 10665 RLJ 20838 b

96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
HB2639

Introduced 2/20/2009, 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. Effective immediately.

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 96th 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.

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