Full Text of HB5395 102nd General Assembly
HB5395ham001 102ND GENERAL ASSEMBLY | Rep. LaToya Greenwood Filed: 2/28/2022
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| 1 | | AMENDMENT TO HOUSE BILL 5395
| 2 | | AMENDMENT NO. ______. Amend House Bill 5395 by replacing | 3 | | everything after the enacting clause with the following:
| 4 | | "Section 5. The Department of Commerce and Economic | 5 | | Opportunity Law of the
Civil Administrative Code of Illinois | 6 | | is amended by adding Section 605-1095 as follows: | 7 | | (20 ILCS 605/605-1095 new) | 8 | | Sec. 605-1095. Tax equivalent grants. | 9 | | (a) If a retailer permanently ceases operations in a | 10 | | municipality and that retailer was responsible for at least | 11 | | 20% of the total use and occupation tax revenue received by the | 12 | | municipality in the calendar year immediately preceding the | 13 | | date the retailer permanently ceased operations in the | 14 | | municipality, then the municipality is entitled to a tax | 15 | | equivalent grant as provided in this Section. Grants under | 16 | | this Section shall be awarded, subject to appropriation, for |
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| 1 | | fiscal years beginning on or after July 1, 2023. | 2 | | (b) The corporate authorities of an eligible municipality | 3 | | may apply to the Department of Commerce and Economic | 4 | | Opportunity for a grant under this Section in the form and | 5 | | manner required by the Department of Commerce and Economic | 6 | | Opportunity by rule. Grants under this Section shall be | 7 | | awarded for each of the 5 State fiscal years to occur after the | 8 | | date the retailer permanently ceases operations in the | 9 | | municipality. The application shall contain the following | 10 | | information: | 11 | | (1) the identity of the retailer that ceased | 12 | | operations; | 13 | | (2) the portion of the use and occupation tax revenue | 14 | | that was received by the municipality in the calendar year | 15 | | immediately preceding the date the retailer permanently | 16 | | ceased operations in the municipality and that is | 17 | | attributable to the retailer; and | 18 | | (3) the total use and occupation tax revenue received | 19 | | by the municipality in the calendar year immediately | 20 | | preceding the date the retailer permanently ceased | 21 | | operations in the municipality. | 22 | | The Department of Revenue shall certify to the Department | 23 | | of Commerce and Economic Opportunity that the amounts reported | 24 | | by the municipality in items (1), (2), and (3) of this | 25 | | subsection (b) are correct. | 26 | | (c) Grants shall be awarded according the following |
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| 1 | | schedule: | 2 | | (1) in the first fiscal year following the date the | 3 | | retailer permanently ceased operations in the | 4 | | municipality, the municipality shall receive 100% of the | 5 | | amount that is reported in item (2) of subsection (b) and | 6 | | that is verified by the Department of Revenue; | 7 | | (2) in the second fiscal year following the date the | 8 | | retailer permanently ceased operations in the | 9 | | municipality, the municipality shall receive 80% of the | 10 | | amount that is reported in item (2) of subsection (b) and | 11 | | that is verified by the Department of Revenue; | 12 | | (3) in the third fiscal year following the date the | 13 | | retailer permanently ceased operations in the | 14 | | municipality, the municipality shall receive 60% of the | 15 | | amount that is reported in item (2) of subsection (b) and | 16 | | that is verified by the Department of Revenue; | 17 | | (4) in the fourth fiscal year following the date the | 18 | | retailer permanently ceased operations in the | 19 | | municipality, the municipality shall receive 40% of the | 20 | | amount that is reported in item (2) of subsection (b) and | 21 | | that is verified by the Department of Revenue; and | 22 | | (5) in the fifth fiscal year following the date the | 23 | | retailer permanently ceased operations in the | 24 | | municipality, the municipality shall receive 20% of the | 25 | | amount that is reported in item (2) of subsection (b) and | 26 | | that is verified by the Department of Revenue. |
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| 1 | | (d) The Department of Commerce and Economic Opportunity | 2 | | shall adopt rules to implement this Section, including, but | 3 | | not limited to, rules concerning the application process and | 4 | | the time period during which applications for grants under | 5 | | this Section will be accepted. | 6 | | (e) As used in this Section: | 7 | | "Retailer" means a retailer or serviceman that is required | 8 | | to collect and remit tax under the Use Tax Act, the Service Use | 9 | | Tax Act, the Service Occupation Tax Act, or the Retailers' | 10 | | Occupation Tax Act. | 11 | | "Use and occupation tax revenue received by the | 12 | | municipality" means: (1) moneys allocated to the municipality | 13 | | from the proceeds collected under the Use Tax Act, the Service | 14 | | Use Tax Act, the Service Occupation Tax Act, and the | 15 | | Retailers' Occupation Tax Act based on sales occurring in the | 16 | | municipality; and (2) the proceeds collected from any | 17 | | municipal use tax imposed by the municipality or any municipal | 18 | | occupation tax imposed by the municipality, if the tax is | 19 | | administered by the Department of Revenue and the proceeds are | 20 | | remitted to the municipality. | 21 | | Section 10. The School Code is amended by adding Section | 22 | | 18-4.6 as follows: | 23 | | (105 ILCS 5/18-4.6 new) | 24 | | Sec. 18-4.6. Tax equivalent grants; State Capitol. Subject |
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| 1 | | to appropriation, the school district in which the Illinois | 2 | | State Capitol Building is located is entitled to a tax | 3 | | equivalent grant as provided in this Section. The State | 4 | | Superintendent of Education shall annually direct the State | 5 | | Comptroller to pay the amount of the tax equivalent grant | 6 | | provided in this Section, and the State Comptroller shall draw | 7 | | his or her warrant upon the State Treasury for the payment of | 8 | | the grant. For fiscal year 2024 and each fiscal year | 9 | | thereafter, the grant shall equal 0.5% of the equalized | 10 | | assessed valuation of all land in the district owned by the | 11 | | State (computing that equalized assessed valuation by | 12 | | multiplying the average value per taxable acre of the school | 13 | | district by the total number of acres of land owned by the | 14 | | State). The school district superintendent shall certify to | 15 | | the State Board of Education the following matters:
(1) that | 16 | | the State Capitol Building is located within the district; (2) | 17 | | the total land area of the district in acres; (3) the total | 18 | | ownership of the land of the State in the district in
acres; | 19 | | (4) the total equalized assessed value of all the
land in the | 20 | | district; (5) the rate of school tax payable in the year; and | 21 | | (6) the computed amount of the tax equivalent grant
claimed.
| 22 | | Certification for fiscal year 2024 grants under this Section | 23 | | shall be made no later than September 15, 2022. For subsequent | 24 | | fiscal years, the certification shall be made no later than | 25 | | July 1 of the calendar year in which the fiscal year begins. | 26 | | Failure of the school district superintendent to certify the |
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| 1 | | claim for the tax equivalent grant on or before the date set | 2 | | forth in this Section shall constitute a forfeiture by the | 3 | | district of its right to the grant for the school year.
| 4 | | Section 99. Effective date. This Act takes effect upon | 5 | | becoming law.".
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