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Public Act 096-0192
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| HB1055 Enrolled |
LRB096 08479 RCE 18599 b |
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AN ACT concerning finance.
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Be it enacted by the People of the State of Illinois,
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represented in the General Assembly:
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Section 5. The State Finance Act is amended by changing |
Section 6z-59 as follows:
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(30 ILCS 105/6z-59)
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Sec. 6z-59. The Tax Recovery Fund. There is created in the
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State treasury the Tax Recovery Fund. Through December 31, 2020
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2010, all moneys received from
the
rental, authorized under |
Section 2705-555 of the Department of Transportation
Law of
the |
Civil Administrative Code of Illinois, of land, buildings, or |
improvements
on property
held for development of an airport in |
Will County by the Department of
Transportation
shall be |
remitted to the State Treasurer for payment into the Tax
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Recovery Fund. Subject to appropriation, the moneys in the Fund |
shall be
expended with
the following priority: (1)
to |
compensate taxing districts for leasehold taxes
then (2) to the |
General Revenue Fund less any money
necessary to pay |
maintenance and repair
costs for that real property.
The tax |
compensation shall be determined in accordance with Sections |
9-195 and
15-55 of
the
Property Tax Code.
Expenditures for |
these purposes may be made by
Department of Transportation |
without regard to the fiscal year in which tax
compensation
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liability and property maintenance and repair costs
were |
incurred. Unexpended moneys in the Fund shall not be |
transferred or
allocated by
the Comptroller or Treasurer to any |
other fund nor shall the Governor authorize
the
transfer or |
allocation of those moneys to any other fund. After December |
31, 2020
2010, all
moneys received from the rental, authorized |
under Section 2705-555 of the
Department
of Transportation Law |
of the Civil Administrative Code of Illinois, of land,
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buildings, or
improvements on property held for the development |
of an airport in Will County
by the
Department of |
Transportation shall not be remitted to the Tax
Recovery
Fund |
but shall instead be paid to the General Revenue Fund. The |
balance
remaining in
the Tax Recovery Fund on December 31, 2020 |
2010 shall first be
expended to
compensate taxing districts for |
leasehold taxes for the 2020 2010
tax
assessment year, and
then |
transferred to
the
General Revenue Fund for the purpose of debt |
service on State bonds issued to
provide
funds for airport land |
acquisition in Will County.
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(Source: P.A. 93-658, eff. 1-22-04.)
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Section 10. The Property Tax Code is amended by changing |
Section 15-55 as follows:
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(35 ILCS 200/15-55)
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Sec. 15-55. State property.
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(a) All property belonging to the State of Illinois
is |
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exempt. However, the State agency holding title shall file the |
certificate
of ownership and use required by Section 15-10, |
together with a copy of any
written lease or agreement, in |
effect on March 30 of the assessment year,
concerning parcels |
of 1 acre or more, or an explanation of the terms of any
oral |
agreement under which the property is leased, subleased or |
rented.
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The leased property shall be assessed to the lessee and the |
taxes thereon
extended and billed to the lessee, and collected |
in the same manner as
for property which is not exempt. The |
lessee shall be liable
for the taxes and no lien shall attach |
to the property of the State.
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For the purposes of this Section, the word "leases" |
includes
licenses, franchises, operating agreements and other |
arrangements under which
private individuals, associations or |
corporations are granted the right to use
property of the |
Illinois State Toll Highway Authority and includes all property
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of the Authority used by others without regard to the size of |
the leased
parcel.
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(b) However, all property of every kind belonging to the |
State of
Illinois, which
is or may hereafter be leased to the |
Illinois Prairie Path Corporation, shall
be exempt from all |
assessments, taxation or collection, despite the making of
any |
such lease, if it is used for:
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(1) conservation, nature trail or any other |
charitable,
scientific,
educational or recreational |
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purposes with public benefit, including the
preserving and |
aiding in the preservation of natural areas, objects, |
flora,
fauna or biotic communities;
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(2) the establishment of footpaths, trails and other |
protected
areas;
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(3) the conservation of the proper use of natural
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resources or the promotion of the study of plant and animal |
communities and
of other phases of ecology, natural history |
and conservation;
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(4) the promotion of education in the fields of nature,
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preservation and
conservation; or
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(5) similar public recreational activities conducted |
by the
Illinois
Prairie
Path Corporation.
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No lien shall attach to the property of the State. No tax |
liability shall
become the obligation of or be enforceable |
against Illinois Prairie Path
Corporation.
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(c) If the State sells the
James R.
Thompson Center
or the |
Elgin Mental Health Center and surrounding land located at 750 |
S.
State Street,
Elgin, Illinois, as provided in subdivision |
(a)(2) of Section 7.4 of
the State Property Control Act,
to
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another entity whose property is not exempt and immediately |
thereafter enters
into a
leaseback or other agreement that |
directly or indirectly gives the State a
right to use,
control, |
and possess the property, that portion of the property leased |
and
occupied exclusively by the State shall remain exempt under |
this
Section.
For the property to remain exempt under this |
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subsection (c), the State must
retain an
option to purchase the |
property at a future date or, within the limitations
period for
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reverters, the property must revert back to the State.
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If the property has been conveyed as described in this |
subsection (c), the
property
is no longer exempt pursuant to |
this Section as of the date when:
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(1) the right of the State to use, control, and possess |
the property has
been
terminated; or
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(2) the State no longer has an option to
purchase or |
otherwise acquire the property and
there is no provision |
for a reverter of the property to the State
within the |
limitations period for reverters.
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Pursuant to Sections 15-15 and 15-20 of this Code, the |
State shall notify the
chief
county assessment officer of any |
transaction under this subsection (c). The
chief county
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assessment officer shall determine initial and continuing |
compliance with the
requirements of this Section for tax |
exemption. Failure to notify the chief
county
assessment |
officer of a transaction under this subsection (c) or to |
otherwise
comply with
the requirements of Sections 15-15 and |
15-20 of this Code shall, in the
discretion of the
chief county |
assessment officer, constitute cause to terminate the |
exemption,
notwithstanding any other provision of this Code.
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(c-1) If the Illinois State Toll Highway Authority sells |
the
Illinois State Toll Highway Authority headquarters |
building and surrounding
land,
located at 2700 Ogden Avenue, |
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Downers Grove, Illinois
as provided in subdivision (a)(2) of |
Section 7.5 of
the State Property Control Act,
to
another |
entity whose property is not exempt and immediately thereafter |
enters
into a
leaseback or other agreement that directly or |
indirectly gives the State or the
Illinois State Toll Highway |
Authority a
right to use,
control, and possess the property, |
that portion of the property leased and
occupied exclusively by |
the State or the Authority shall remain exempt under
this
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Section.
For the property to remain exempt under this |
subsection (c), the Authority must
retain an
option to purchase |
the property at a future date or, within the limitations
period |
for
reverters, the property must revert back to the Authority.
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If the property has been conveyed as described in this |
subsection (c), the
property
is no longer exempt pursuant to |
this Section as of the date when:
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(1) the right of the State or the Authority to use, |
control, and possess
the
property has
been
terminated; or
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(2) the Authority no longer has an option to
purchase |
or otherwise acquire the property and
there is no provision |
for a reverter of the property to the Authority
within the |
limitations period for reverters.
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Pursuant to Sections 15-15 and 15-20 of this Code, the |
Authority
shall notify the
chief
county assessment officer of |
any transaction under this subsection (c). The
chief county
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assessment officer shall determine initial and continuing |
compliance with the
requirements of this Section for tax |
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exemption. Failure to notify the chief
county
assessment |
officer of a transaction under this subsection (c) or to |
otherwise
comply with
the requirements of Sections 15-15 and |
15-20 of this Code shall, in the
discretion of the
chief county |
assessment officer, constitute cause to terminate the |
exemption,
notwithstanding any other provision of this Code.
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(d) The fair market rent of each parcel of real property in |
Will
County owned by the State of Illinois for the purpose of |
developing an airport
by the Department of Transportation shall |
include the assessed value of
leasehold tax. The lessee of each |
parcel of real property in Will
County owned by
the
State of |
Illinois for the purpose of developing an airport by the |
Department of
Transportation shall not be liable for the taxes |
thereon. In order for the
State to
compensate taxing districts |
for
the leasehold tax under this paragraph
the Will County |
Supervisor of Assessments shall
certify, in
writing, to the
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Department of Transportation, the amount of leasehold taxes
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extended for the 2002 property tax
year for
each such exempt |
parcel.
The Department of Transportation shall pay to the Will
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County
Treasurer, from the Tax Recovery Fund, on or before July |
1 of each
year, the amount of leasehold taxes for each such |
exempt parcel as certified
by the Will County Supervisor of |
Assessments. The tax compensation shall
terminate
on
December |
31, 2020 2010. It is the duty of the Department of |
Transportation to file
with the
Office of the Will County |
Supervisor of Assessments an affidavit stating the
termination
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date for rental of each such parcel due to airport |
construction. The affidavit
shall include
the property |
identification number for each such parcel. In no instance |
shall
tax
compensation for property owned by the State be |
deemed delinquent or bear
interest. In
no instance shall a lien |
attach to the property of the State. In no instance
shall the |
State
be required to pay leasehold tax compensation in excess |
of the Tax
Recovery Fund's balance.
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(e) Public Act 81-1026 applies to all leases or agreements |
entered into
or
renewed on or after September 24, 1979.
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(Source: P.A. 95-331, eff. 8-21-07.)
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Section 99. Effective date. This Act takes effect upon |
becoming law.
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