Public Act 095-0672
 
SB0735 Enrolled LRB095 04886 BDD 24950 b

    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
Sections 11-65-10, 11-65-15, 11-65-20, and 11-65-25 as
follows:
 
    (65 ILCS 5/11-65-10 new)
    Sec. 11-65-10. Public-facilities corporations authorized.
    (a) Each municipality referenced in Section 11-65-2 is
authorized to incorporate a public-facilities corporation to
exercise, as business agent of the municipality, the powers of
the municipality set forth in Section 11-65-2, Section 11-65-6,
and Section 11-65-7, and also the power of the municipality to
acquire by dedication, gift, lease, contract, or purchase all
property and rights, necessary or proper, within the corporate
limits of the municipality, for municipal convention hall
purposes.
    (b) In this Division 65, unless the context otherwise
requires, a "public-facilities corporation" means an Illinois
not-for-profit corporation whose purpose is charitable and
civic, organized solely for the purpose of (i) acquiring a site
or sites appropriate for a municipal convention hall; (ii)
constructing, building, and equipping thereon a municipal
convention hall; and (iii) collecting the revenues therefrom,
entirely without profit to the public-facilities corporation,
its officers, or directors. A public-facilities corporation
shall assist the municipality it serves in the municipality's
essential governmental purposes.
    (c) The municipality shall retain control of the
public-facilities corporation by means of the municipality's
expressed legal right, set forth in the articles of
incorporation of the public-facilities corporation, to
appoint, remove, and replace the members of the board of
directors of the public-facilities corporation. The directors
and officers of the public-facilities corporation shall serve
without compensation but may be reimbursed for their reasonable
expenses that are incurred on behalf of the public-facilities
corporation. Upon retirement or redemption of any bonds or
other debt instruments issued by the public-facilities
corporation in connection with the development of the municipal
convention hall, the legal title to the municipal convention
hall shall be transferred to the municipality without any
further consideration by or on behalf of the municipality.
 
    (65 ILCS 5/11-65-15 new)
    Sec. 11-65-15. Exemption from use and occupation taxes. No
tax is imposed under the Use Tax Act, the Service Use Tax Act,
the Service Occupation Tax Act, or the Retailers' Occupation
Tax Act upon the use or sale of tangible personal property sold
to a public-facilities corporation for purposes of
constructing or furnishing a municipal convention hall.
 
    (65 ILCS 5/11-65-20 new)
    Sec. 11-65-20. Exemptions from property taxation. All real
property and the municipal convention hall owned by the
public-facilities corporation is exempt from property
taxation.
 
    (65 ILCS 5/11-65-25 new)
    Sec. 11-65-25. Tax exemptions for existing
public-facilities corporations. If, before the effective date
of this amendatory Act of the 95th General Assembly, a
municipality has incorporated a public-facilities corporation
and the public-facilities corporation complies with the
requirements set forth in Section 11-65-10, then, for all
purposes:
        (1) No tax is imposed under the Use Tax Act, the
    Service Use Tax Act, the Service Occupation Tax Act, or the
    Retailers' Occupation Tax Act upon the use or sale of
    tangible personal property sold to a public-facilities
    corporation for purposes of constructing or furnishing a
    municipal convention hall; and
        (2) all real property and the municipal convention hall
    owned by the public-facilities corporation is exempt from
    property taxation.
 
    Section 99. Effective date. This Act takes effect upon
becoming law.