SB 153 — PBLC BLDG COMMISSION ALT BONDS

093_SB0153SB153 Engrossed LRB093 02569 MKM 02579 b AN ACT in relation to local government.

(f) "Enterprise revenues" means the revenues of a SB153 Engrossed -2- LRB093 02569 MKM 02579 b utility or revenue producing enterprise from which revenue bonds may be payable.

SB153 Engrossed -3- LRB093 02569 MKM 02579 b (m) "Limited bonds" means bonds, ____u_____________ _____i_____________________e________ excluding _t____ leases, notes, installment or financing contracts, certificates, tax anticipation warrants or notes, vouchers, and any other evidences of indebtedness, issued under Section 15.01 of this Act.

A governmental unit issuing limited bonds authorized by this Section shall provide in the bond ordinance that the bonds are issued as SB153 Engrossed -4- LRB093 02569 MKM 02579 b limited bonds and are also issued pursuant to applicable law, other than this amendatory Act of 1995, enabling the governmental unit to issue bonds.

"Taxing district" has the same meaning provided in SB153 Engrossed -5- LRB093 02569 MKM 02579 b Section 1-150, except as otherwise provided in this Section.

however, a tax for the payment of SB153 Engrossed -6- LRB093 02569 MKM 02579 b interest or principal on those bonds shall be made only after the governing body of the unit of local government finds that all other sources for payment are insufficient to make those payments;

"Aggregate extension" for the taxing districts to which this Law did not apply before the 1995 levy year (except SB153 Engrossed -7- LRB093 02569 MKM 02579 b taxing districts subject to this Law in accordance with Section 18-213) means the annual corporate extension for the taxing district and those special purpose extensions that are made annually for the taxing district, excluding special purpose extensions:

(i) made for payments of principal and interest on limited bonds, as defined in Section 3 of the Local Government Debt Reform Act, in an amount not to exceed the debt service extension base less the amount in items (b), (c), and (e) of this definition for non-referendum SB153 Engrossed -8- LRB093 02569 MKM 02579 b obligations, except obligations initially issued pursuant to referendum and bonds described in subsection (h) of this definition;

(d) made for any taxing district to pay interest or principal on bonds issued to refund or continue to refund bonds issued after the date on which the referendum making this Law applicable to the taxing district is held if the bonds were approved by referendum after the date on which the referendum SB153 Engrossed -9- LRB093 02569 MKM 02579 b making this Law applicable to the taxing district is held;

"Aggregate extension" for all taxing districts to which this Law applies in accordance with paragraph (2) of SB153 Engrossed -10- LRB093 02569 MKM 02579 b subsection (e) of Section 18-213 means the annual corporate extension for the taxing district and those special purpose extensions that are made annually for the taxing district, excluding special purpose extensions:

(h) made for payments of principal and interest on limited bonds, as defined in Section 3 of the Local Government Debt Reform Act, in an amount not to exceed the debt service extension base less the amount in items (b), SB153 Engrossed -11- LRB093 02569 MKM 02579 b (c), and (e) of this definition for non-referendum obligations, except obligations initially issued pursuant to referendum;

"Special purpose extensions" include, but are not limited to, extensions for levies made on an annual basis for unemployment and workers' compensation, self-insurance, contributions to pension plans, and extensions made pursuant SB153 Engrossed -12- LRB093 02569 MKM 02579 b to Section 6-601 of the Illinois Highway Code for a road district's permanent road fund whether levied annually or not.

"Recovered tax increment value" means, except as otherwise provided in this paragraph, the amount of the current year's equalized assessed value, in the first year after a municipality terminates the designation of an area as SB153 Engrossed -13- LRB093 02569 MKM 02579 b a redevelopment project area previously established under the Tax Increment Allocation Development Act in the Illinois Municipal Code, previously established under the Industrial Jobs Recovery Law in the Illinois Municipal Code, or previously established under the Economic Development Area Tax Increment Allocation Act, of each taxable lot, block, tract, or parcel of real property in the redevelopment project area over and above the initial equalized assessed value of each property in the redevelopment project area.

In the first year after a municipality removes a taxable lot, block, tract, or parcel of real property from a redevelopment project area established under the Tax Increment Allocation Development Act in the Illinois Municipal Code, the Industrial Jobs Recovery Law in the Illinois Municipal Code, or the Economic Development Area Tax Increment Allocation Act, "recovered tax increment value" means the amount of the current year's equalized assessed value of each taxable lot, block, tract, SB153 Engrossed -14- LRB093 02569 MKM 02579 b or parcel of real property removed from the redevelopment project area over and above the initial equalized assessed value of that real property before removal from the redevelopment project area.

(c) "County seat" means a city, village or town which is SB153 Engrossed -15- LRB093 02569 MKM 02579 b the county seat of a county.

1048) SB153 Engrossed -16- LRB093 02569 MKM 02579 b Sec.

NOTICE OF PUBLIC HEARING ON LEASE between (name of the SB153 Engrossed -17- LRB093 02569 MKM 02579 b municipal corporation) and (name of the public building commission).

The county clerk or clerks shall thereupon, and thereafter annually during the term of the lease, extend taxes against all of the taxable property contained in that municipal corporation ___ sufficient to pay the annual rental reserved in such lease o __ _______i_____________________t____________________b_____________ SB153 Engrossed -18- LRB093 02569 MKM 02579 b _____s_____________________s______________________a___.

in counties with less than 80,000 but more than 15,000 SB153 Engrossed -19- LRB093 02569 MKM 02579 b inhabitants at a rate not exceeding .27%, of the value as equalized or assessed by the Department of Revenue;

and in counties having 3,000,000 or more inhabitants for each even numbered year, subject to the abatement requirements hereinafter provided, at a rate not exceeding .39% of the value, as equalized or assessed by the Department of Revenue, and for each odd numbered year, subject to the abatement requirements hereinafter provided, at a rate not exceeding .35% of the value as equalized or assessed by the Department of Revenue, except taxes for the payment of interest on and principal of bonded indebtedness heretofore duly authorized for the construction of State aid roads in the county as defined in "An Act to revise the law in relation to roads and bridges", approved June 27, 1913, or for the construction of county highways as defined in the Illinois Highway Code, and except taxes for the payment of interest on and principal of bonded indebtedness duly authorized without a vote of the people of the county, and except taxes authorized as additional by a vote of the people of the county, and except taxes for working cash fund purposes, and except taxes as authorized by Sections 5-601, 5-602, 5-603, 5-604 and 6-512 of the Illinois Highway Code, and except taxes authorized under Section 7 of the Village Library Act, and except taxes levied to pay the annual rent payments due under a lease entered into by the county with a Public Building Commission as authorized by Section 18 of the Public Building Commission Act, i ________________t_____________ SB153 Engrossed -20- LRB093 02569 MKM 02579 b ______t____________________g______________________e_____________ _____e_____________________n________________________a___________ _______l___________________t______________________n_____________ ______r____________________e______________________i_____________ _____n_____________________A______________________l_____________ _____i_____________________o______________________f_____________ _______G___________________e__________ and except taxes levied under Division 6-3, and except taxes levied for general assistance for needy persons in counties under commission form of government and except taxes levied under the County Care for Persons with Developmental Disabilities Act, and except taxes levied under the Community Mental Health Act, and except taxes levied under Section 5-1025 to pay the expenses of elections and except taxes levied under "An Act to provide the manner of levying or imposing taxes for the provision of special services to areas within the boundaries of home rule units and non-home rule municipalities and counties", approved September 21, 1973, and except taxes levied under Section 3a of the Revenue Act of 1939 for the purposes of helping to pay for the expenses of the assessor's office, and except taxes levied under Division 5-21, and except taxes levied pursuant to Section 19 of "The Illinois Emergency Services and Disaster Agency Act of 1975", as now or hereafter amended, and except taxes levied pursuant to Division 5-23, and except taxes levied under Section 5 of the County Shelter Care and Detention Home Act, and except taxes levied under the Children's Advocacy Center Act, and except taxes levied under Section 9-107 of the Local Governmental and Governmental Employees Tort Immunity Act.

Those taxes a county has levied and excepted from the rate limitation imposed by this Section or Section 25.05 of "An Act to revise the law in relation to counties", approved March 31, 1874, in reliance on this amendatory Act of 1994 are not invalid because of any provision of this Section that SB153 Engrossed -21- LRB093 02569 MKM 02579 b may be construed to or may have been construed to restrict or limit those taxes levied and those taxes are hereby validated.

In counties having 3,000,000 or more inhabitants, taxes levied for any year for any purpose or purposes, except amounts levied for the payment of bonded indebtedness or interest thereon and for pension fund purpose, and except taxes levied to pay the annual rent payments due under a lease entered into by the county with a Public Building Commission as authorized by Section 18 of the Public Building Commission Act, are subject to the limitation that they shall not exceed the estimated amount of taxes to be levied for the year for the purpose or purposes as determined in accordance with Section 6-24001 and set forth in the annual appropriation bill of the county and in ascertaining the rate SB153 Engrossed -22- LRB093 02569 MKM 02579 b per cent that will produce the amount of any tax levied in any county, the county clerk shall not add to the tax or rate any sum or amount to cover the loss and cost of collecting the tax, except in the case of amounts levied for the payment of bonded indebtedness or interest thereon, and in the case of amounts levied for pension fund purposes, and except taxes levied to pay the annual rent payments due under a lease entered into by the county with a Public Building Commission as authorized by Section 18 of the Public Building Commission Act.

If the amount received from the collection of the tax levied in the last preceding even numbered year for county purposes as aforesaid, as shown by the county treasurer's final settlement for the last preceding even numbered year and also by subsequent receipts of delinquent taxes for the county purposes fund levied for the last preceding even numbered year, equals or exceeds the amount produced by multiplying the rate extended for the county purposes for the last preceding even numbered year by the total assessed valuation of all property in the county used in the year for purposes of state and county taxes, and by deducting therefrom the amount appropriated to cover the loss SB153 Engrossed -23- LRB093 02569 MKM 02579 b and cost of collecting taxes to be levied for the county purposes fund for the last preceding even numbered year, the clerk in determining the rate per cent to be extended for the county purposes fund shall deduct from the amount of the levy certified to him for county purposes as aforesaid for even numbered years the amount received by the county clerk or withheld by the county treasurer from other municipal corporations within the county as their pro rata share of election expenses for the last preceding even numbered year, as authorized in Sections 13-11, 13-12, 13-13 and 16-2 of the Election Code, and the clerk in these counties shall extend only the net amount remaining after such deductions.

In counties having less than 3,000,000 inhabitants, in ascertaining the rate per cent that will produce the amount of any tax levied in that county, the County Clerk shall not add to the tax or rate any sum or amount to cover the loss and cost of collecting the tax except in the case of amounts levied for the payment of bonded indebtedness or interest thereon and in the case of amounts levied for pension fund purposes and except taxes levied to pay the annual rent payments due under a lease entered into by the county with a SB153 Engrossed -24- LRB093 02569 MKM 02579 b Public Building Commission as authorized by Section 18 of the Public Building Commission Act.

SB153 Engrossed -25- LRB093 02569 MKM 02579 b INDEX Statutes amended in order of appearance 30 ILCS 350/3 from Ch.