SB 101 — PROP TAX FREEZE-DISABLED

Disabled8-21-08.) personsSection homestead15. exemption.

(a)The BeginningIllinois withMunicipal theCode assessment for the 2007 tax year, an annual homestead exemption is grantedamended toby disabledchanging personsSection in10-4-2.3 the amount of $3,500, except as providedfollows: in subsection (c), to be deducted from the property’s value as equalized or assessed by the Department of Revenue.

The(65 disabledILCS person5/10-4-2.3) shallSec. receive the homestead exemption upon meeting the following requirements:

(1)10-4-2.3. The property must be occupied as a residence by the disabled person.

(2)Required Thehealth disabledbenefits. person must be liable for paying the real estate taxes on the property.

(3)If Thea disabledmunicipality, personincluding musta behome anrule ownermunicipality, ofis recorda self-insurer for purposes of theproviding propertyhealth orinsurance havecoverage afor legalits oremployees, equitablethe interestcoverage inshall include coverage for the propertypost-mastectomy ascare evidencedbenefits required to be covered by SB0101 Enrolled - 3 - LRB095 03635 BDD 23658 b a writtenpolicy instrument.of accident and health insurance under Section 356t and the coverage required under Sections 356g.5, 356u, 356w, 356x, 356z.6, 356z.9, and 356z.10, and 356z.14 of the Illinois Insurance Code.

InThe therequirement casethat ofhealth abenefits leaseholdbe interestcovered as provided in property,this is an exclusive power and function of the leaseState mustand beis fora SB0101denial Engrossedand -limitation 6under -Article LRB095VII, 03635Section BDD6, 23658subsection b(h) aof singlethe familyIllinois residence.Constitution.

A personhome whorule ismunicipality disabledto duringwhich thethis currentSection assessmentapplies yearmust iscomply eligiblewith toevery applyprovision forof this homesteadSection. exemption during that assessment year.

Application must be made during the application period in effect for the county of residence.

If a homestead exemption has been granted under this Section and the person awarded the exemption subsequently becomes a resident of a facility licensed under the Nursing Home Care Act, then the exemption shall continue (i) so long as the residence continues to be occupied by the qualifying person’s spouse or (ii) if the residence remains unoccupied but is still owned by the person qualified for the homestead exemption.

(b) For the purposes of this Section, "disabled person" means a person unable to engage in any substantial gainful activity by reason of a medically determinable physical or mental impairment that (i) can be expected to result in death or (ii) has lasted or can be expected to last for a continuous period of not less than 12 months.

Disabled persons applying for the exemption under this Section must submit proof of the disability in the manner prescribed by the chief county assessment officer.

Proof that an applicant is eligible to receive disability benefits under the federal Social Security Act constitutes proof of disability for purposes of this Section.

Issuance of an Illinois Disabled Person Identification Card to the applicant stating that the possessor is under a Class 2 disability, as defined in Section 4A of the SB0101 Engrossed - 7 - LRB095 03635 BDD 23658 b Illinois Identification Card Act, constitutes proof that the person is a disabled person for purposes of this Section.

(c) For land improved with (i) an apartment building owned and operated as a cooperative or (ii) a life care facility as defined under Section 2 of the Life Care Facilities Act that is considered to be a cooperative, the maximum reduction from the value of the property, as equalized or assessed by the Department, shall be multiplied by the number of apartments or units occupied by a disabled person.

The disabled person shall receive the homestead exemption upon meeting the following requirements:

(1) The property must be occupied as a residence by the disabled person.

(2) The disabled person must be liable by contract with the owner or owners of record for paying the apportioned property taxes on the property of the cooperative or life care facility.

In the case of a life care facility, the disabled person must be liable for paying the apportioned property taxes under a life care contract as defined in Section 2 of the Life Care Facilities Act.

(3) The disabled person must be an owner of record of a legal or equitable interest in the cooperative apartment building.

A leasehold interest does not meet this requirement.

If a homestead exemption is granted under this subsection, the cooperative association or management firm shall credit the SB0101 Engrossed - 8 - LRB095 03635 BDD 23658 b savings resulting from the exemption to the apportioned tax liability of the qualifying disabled person.

The chief county assessment officer may request reasonable proof that the association or firm has properly credited the exemption.

A person who willfully refuses to credit an exemption to the qualified disabled person is guilty of a Class B misdemeanor.

(d) The chief county assessment officer shall determine the eligibility of property to receive the homestead exemption according to guidelines established by the Department.

After a person has received an exemption under this Section, an annual verification of eligibility for the exemption shall be mailed to the taxpayer.

The chief county assessment officer in a county with fewer than 3,000,000 inhabitants shall provide to each person granted a homestead exemption under this Section a form to designate any other person to receive a duplicate of any notice of delinquency in the payment of taxes assessed and levied under this Code on the person’s qualifying property.

The duplicate notice shall be in addition to the notice required to be provided to the person receiving the exemption and shall be given in the manner required by this Code.

The person filing the request for the duplicate notice shall pay an administrative fee of $5 to the chief county assessment officer.

The assessment officer shall then file the executed designation with the county collector, who shall issue the duplicate notices as indicated by the designation.

A SB0101 Engrossed - 9 - LRB095 03635 BDD 23658 b designation may be rescinded by the disabled person in the manner required by the chief county assessment officer.

(35 ILCS 200/20-178) Sec.

20-178.

Certificate of error;

refund;

interest.

When the county collector makes any refunds due on certificates of error issued under Sections 14-15 through 14-25 that have been either certified or adjudicated, the county collector shall pay the taxpayer interest on the amount of the refund at the rate of 0.5% per month.

No interest shall be due under this Section for any time prior to 60 days after the effective date of this amendatory Act of the 91st General Assembly.

For certificates of error issued prior to the effective date of this amendatory Act of the 91st General Assembly, the county collector shall pay the taxpayer interest from 60 days after the effective date of this amendatory Act of the 91st General Assembly until the date the refund is paid.

For certificates of error issued on or after the effective date of this amendatory Act of the 91st General Assembly, interest shall be paid from 60 days after the certificate of error is issued by the chief county assessment officer to the date the refund is made.

To cover the cost of interest, the county collector shall proportionately reduce the distribution of taxes collected for each taxing district in which the property is situated.

This Section shall not apply to any certificate of error SB0101 Engrossed - 10 - LRB095 03635 BDD 23658 b granting a homestead exemption under Section 15-167, 15-170, 15-172, 15-175, or 15-176.

93-715,95-189, eff.

7-12-04.)8-16-07; (35 ILCS 200/21-135) Sec.

21-135.95-422, eff.

Mailed8-24-07; notice of application for judgment and sale.

Not95-520, lesseff. than 15 days before the date of application for judgment and sale of delinquent properties, the county collector shall mail, by registered or certified mail, a notice of the forthcoming application for judgment and sale to the person shown by the current collector’s warrant book to be the party in whose name the taxes were last assessed or to the current owner of record and, if applicable, to the party specified under Section 15-167 or 15-170.

The8-28-07; notice shall include the intended dates of application for judgment and sale and commencement of the sale, and a description of the properties.

The95-876, countyeff. collector must present proof of the mailing to the court along with the application for judgement.

In8-21-08.) countiesSection with20. less than 3,000,000 inhabitants, a copy of this notice shall also be mailed by the county collector by registered or certified mail to any lienholder of record who annually requests a copy of the notice.

The failureSchool ofCode theis countyamended collectorby tochanging mailSection a10-22.3f noticeas orfollows: its non-delivery to the lienholder shall not affect the validity of the judgment.

In(105 countiesILCS with5/10-22.3f) 3,000,000Sec. or more inhabitants, notice shall not be mailed to any person when, under Section 14-15, a SB0101 Engrossed - 11 - LRB095 03635 BDD 23658 b certificate of error has been executed by the county assessor or by both the county assessor and board of appeals (until the first Monday in December 1998 and the board of review beginning the first Monday in December 1998 and thereafter), except as provided by court order under Section 21-120.

The10-22.3f. collector shall collect $10 from the proceeds of each sale to cover the costs of registered or certified mailing and the costs of advertisement and publication.

IfRequired ahealth taxpayerbenefits. pays the taxes on the property after the notice of the forthcoming application for judgment and sale is mailed but before the sale is made, then the collector shall collect $10 from the taxpayer to cover the costs of registered or certified mailing and the costs of advertisement and publication.

Insurance protection and benefits for employees shall provide the post-mastectomy care benefits required to be covered by a policy of accident and health insurance under Section 356t and the coverage required under Sections 356g.5, 356u, 356w, 356x, 356z.6, and 356z.9, and 356z.14 of the Illinois Insurance Code.

93-899,95-189, eff.

8-10-04.)8-16-07; Section 15.

The95-422, Countyeff. Economic Development Project Area Property Tax Allocation Act is amended by changing Section 6 as follows:

(558-24-07; ILCS 85/6) (from Ch.

34,95-876, par.eff.

7006)8-21-08.) Sec.Section 25.

6.The Illinois Insurance Code is amended by SB0101 Enrolled - 4 - LRB095 03635 BDD 23658 b changing Section 370c and adding Section 356z.14 as follows:

Filing(215 withILCS county5/356z.14 clerk;new) Sec.

certification356z.14. of initial equalized assessed value.

(a)Habilitative Theservices county shall file a certified copy of any ordinance authorizing property tax allocation financing for anchildren. economic development project area with the county clerk, and the county clerk shall immediately thereafter determine (1) the most SB0101 Engrossed - 12 - LRB095 03635 BDD 23658 b recently ascertained equalized assessed value of each lot, block, tract or parcel of real property within the economic development project area from which shall be deducted the homestead exemptions provided by Sections 15-167, 15-170, 15-175, and 15-176 of the Property Tax Code, which value shall be the "initial equalized assessed value" of each such piece of property, and (2) the total equalized assessed value of all taxable real property within the economic development project area by adding together the most recently ascertained equalized assessed value of each taxable lot, block, tract, or parcel of real property within such economic development project area, from which shall be deducted the homestead exemptions provided by Sections 15-167, 15-170, 15-175, and 15-176 of the Property Tax Code.

Upon(a) receivingAs writtenused noticein fromthis theSection, Department"habilitative ofservices" itsmeans approvaloccupational andtherapy, certificationphysical oftherapy, suchspeech economictherapy, developmentand projectother area,services theprescribed countyby clerkthe shallinsured's immediatelytreating certifyphysician suchpursuant amountto asa thetreatment "totalplan initialto equalizedenhance assessedthe value"ability of thea taxablechild propertyto withinfunction thewith economica developmentcongenital, projectgenetic, area.or early acquired disorder.

(b)A Aftercongenital the county clerk has certified the "total initial equalized assessed value" of the taxable real property in the economic development project area, then in respect to every taxing district containing an economic development project area, the county clerk or anygenetic otherdisorder officialincludes, requiredbut by law to ascertain the amount of the equalized assessed value of all taxable property within that taxing district for the purpose of computing the rate percent of tax to be extended upon taxable SB0101 Engrossed - 13 - LRB095 03635 BDD 23658 b property within the taxing district, shall in every year that property tax allocation financing is innot effectlimited ascertainto, thehereditary amountdisorders. of value of taxable property in an economic development project area by including in that amount the lower of the current equalized assessed value or the certified "total initial equalized assessed value" of all taxable real property in such area.

TheAn rateearly percentacquired ofdisorder taxrefers determined shall be extended to thea currentdisorder equalizedresulting assessedfrom valueillness, oftrauma, allinjury, propertyor insome theother economicevent developmentor projectcondition areasuffered inby thea samechild mannerprior asto thethat ratechild percentdeveloping offunctional taxlife isskills extendedsuch toas, allbut othernot taxablelimited propertyto, inwalking, thetalking, taxingor district.self-help skills.

TheCongenital, methodgenetic, ofand allocatingearly taxesacquired establisheddisorders undermay thisinclude, Sectionbut shallare terminatenot whenlimited theto, countyautism adoptsor an ordinanceautism dissolvingspectrum thedisorder, specialcerebral taxpalsy, allocationand fundother fordisorders theresulting economicfrom developmentearly projectchildhood area.illness, trauma, or injury.

This(b) ActA shallgroup notor beindividual construedpolicy asof relievingaccident propertyand ownershealth withininsurance anor economicmanaged developmentcare projectplan areaamended, fromdelivered, payingissued, aor uniformrenewed rateafter the effective date of taxesthis uponamendatory Act of the current95th equalizedGeneral assessedAssembly valuemust provide coverage for habilitative services for children under 19 years of theirage taxablewith propertya congenital, genetic, or early acquired disorder so long as providedall inof the Propertyfollowing Taxconditions Code.are met:

SB0101 Enrolled - 5 - LRB095 03635 BDD 23658 b (1) A physician licensed to practice medicine in all its branches has diagnosed the child's congenital, genetic, or early acquired disorder.

(2) The treatment is administered by a licensed speech-language pathologist, licensed audiologist, licensed occupational therapist, licensed physical therapist, licensed physician, licensed nurse, licensed optometrist, licensed nutritionist, licensed social worker, or licensed psychologist upon the referral of a physician licensed to practice medicine in all its branches.

(3) The initial or continued treatment must be medically necessary and therapeutic and not experimental or investigational.

(c) The coverage required by this Section shall be subject to other general exclusions and limitations of the policy, including coordination of benefits, participating provider requirements, restrictions on services provided by family or household members, utilization review of health care services, including review of medical necessity, case management, experimental, and investigational treatments, and other managed care provisions.

(d) Coverage under this Section does not apply to those services that are solely educational in nature or otherwise paid under State or federal law for purely educational services.

Nothing in this subsection (d) relieves an insurer or SB0101 Enrolled - 6 - LRB095 03635 BDD 23658 b similar third party from an otherwise valid obligation to provide or to pay for services provided to a child with a disability.

(e) Coverage under this Section for children under age 19 shall not apply to treatment of mental or emotional disorders or illnesses as covered under Section 370 of this Code as well as any other benefit based upon a specific diagnosis that may be otherwise required by law.

(f) The provisions of this Section do not apply to short-term travel, accident-only, limited, or specific disease policies.

(g) Any denial of care for habilitative services shall be subject to appeal and external independent review procedures as provided by Section 45 of the Managed Care Reform and Patient Rights Act.

(h) Upon request of the reimbursing insurer, the provider under whose supervision the habilitative services are being provided shall furnish medical records, clinical notes, or other necessary data to allow the insurer to substantiate that initial or continued medical treatment is medically necessary and that the patient's condition is clinically improving.

When the treating provider anticipates that continued treatment is or will be required to permit the patient to achieve demonstrable progress, the insurer may request that the provider furnish a treatment plan consisting of diagnosis, proposed treatment by type, frequency, anticipated duration of SB0101 Enrolled - 7 - LRB095 03635 BDD 23658 b treatment, the anticipated goals of treatment, and how frequently the treatment plan will be updated.

(i) Rulemaking authority to implement this amendatory Act of the 95th General Assembly, if any, is conditioned on the rules being adopted in accordance with all provisions of the Illinois Administrative Procedure Act and all rules and procedures of the Joint Committee on Administrative Rules;

any purported rule not so adopted, for whatever reason, is unauthorized.

(215 ILCS 5/370c) (from Ch.

73, par.

982c) Sec.

370c.

Mental and emotional disorders.

(a) (1) On and after the effective date of this Section, every insurer which delivers, issues for delivery or renews or modifies group A&H policies providing coverage for hospital or medical treatment or services for illness on an expense-incurred basis shall offer to the applicant or group policyholder subject to the insurers standards of insurability, coverage for reasonable and necessary treatment and services for mental, emotional or nervous disorders or conditions, other than serious mental illnesses as defined in item (2) of subsection (b), up to the limits provided in the policy for other disorders or conditions, except (i) the insured may be required to pay up to 50% of expenses incurred as a result of the treatment or services, and (ii) the annual benefit limit may be limited to the lesser of $10,000 or 25% of SB0101 Enrolled - 8 - LRB095 03635 BDD 23658 b the lifetime policy limit.

(2) Each insured that is covered for mental, emotional or nervous disorders or conditions shall be free to select the physician licensed to practice medicine in all its branches, licensed clinical psychologist, licensed clinical social worker, or licensed clinical professional counselor of his choice to treat such disorders, and the insurer shall pay the covered charges of such physician licensed to practice medicine in all its branches, licensed clinical psychologist, licensed clinical social worker, or licensed clinical professional counselor up to the limits of coverage, provided (i) the disorder or condition treated is covered by the policy, and (ii) the physician, licensed psychologist, licensed clinical social worker, or licensed clinical professional counselor is authorized to provide said services under the statutes of this State and in accordance with accepted principles of his profession.

(3) Insofar as this Section applies solely to licensed clinical social workers and licensed clinical professional counselors, those persons who may provide services to individuals shall do so after the licensed clinical social worker or licensed clinical professional counselor has informed the patient of the desirability of the patient conferring with the patient's primary care physician and the licensed clinical social worker or licensed clinical professional counselor has provided written notification to SB0101 Enrolled - 9 - LRB095 03635 BDD 23658 b the patient's primary care physician, if any, that services are being provided to the patient.

That notification may, however, be waived by the patient on a written form.

Those forms shall be retained by the licensed clinical social worker or licensed clinical professional counselor for a period of not less than 5 years.

(b) (1) An insurer that provides coverage for hospital or medical expenses under a group policy of accident and health insurance or health care plan amended, delivered, issued, or renewed after the effective date of this amendatory Act of the 92nd General Assembly shall provide coverage under the policy for treatment of serious mental illness under the same terms and conditions as coverage for hospital or medical expenses related to other illnesses and diseases.

The coverage required under this Section must provide for same durational limits, amount limits, deductibles, and co-insurance requirements for serious mental illness as are provided for other illnesses and diseases.

This subsection does not apply to coverage provided to employees by employers who have 50 or fewer employees.

(2) "Serious mental illness" means the following psychiatric illnesses as defined in the most current edition of the Diagnostic and Statistical Manual (DSM) published by the American Psychiatric Association:

(A) schizophrenia;

(B) paranoid and other psychotic disorders;

(C) bipolar disorders (hypomanic, manic, depressive, SB0101 Enrolled - 10 - LRB095 03635 BDD 23658 b and mixed);

(D) major depressive disorders (single episode or recurrent);

(E) schizoaffective disorders (bipolar or depressive);

(F) pervasive developmental disorders;

(G) obsessive-compulsive disorders;

(H) depression in childhood and adolescence;

(I) panic disorder;

and (J) post-traumatic stress disorders (acute, chronic, or with delayed onset).

(3) Upon request of the reimbursing insurer, a provider of treatment of serious mental illness shall furnish medical records or other necessary data that substantiate that initial or continued treatment is at all times medically necessary.

An insurer shall provide a mechanism for the timely review by a provider holding the same license and practicing in the same specialty as the patient's provider, who is unaffiliated with the insurer, jointly selected by the patient (or the patient's next of kin or legal representative if the patient is unable to act for himself or herself), the patient's provider, and the insurer in the event of a dispute between the insurer and patient's provider regarding the medical necessity of a treatment proposed by a patient's provider.

If the reviewing provider determines the treatment to be medically necessary, the insurer shall provide reimbursement for the treatment.

Future contractual or employment actions by the insurer SB0101 Enrolled - 11 - LRB095 03635 BDD 23658 b regarding the patient's provider may not be based on the provider's participation in this procedure.

Nothing prevents the insured from agreeing in writing to continue treatment at his or her expense.

When making a determination of the medical necessity for a treatment modality for serous mental illness, an insurer must make the determination in a manner that is consistent with the manner used to make that determination with respect to other diseases or illnesses covered under the policy, including an appeals process.

(4) A group health benefit plan:

(A) shall provide coverage based upon medical necessity for the following treatment of mental illness in each calendar year:

(i) 45 days of inpatient treatment;

and (ii) beginning on June 26, 2006 (the effective date of Public Act 94-921), 60 visits for outpatient treatment including group and individual outpatient treatment;

and (iii) for plans or policies delivered, issued for delivery, renewed, or modified after January 1, 2007 (the effective date of Public Act 94-906), 20 additional outpatient visits for speech therapy for treatment of pervasive developmental disorders that will be in addition to speech therapy provided pursuant to item (ii) of this subparagraph (A);

(B) may not include a lifetime limit on the number of SB0101 Enrolled - 12 - LRB095 03635 BDD 23658 b days of inpatient treatment or the number of outpatient visits covered under the plan;

and (C) shall include the same amount limits, deductibles, copayments, and coinsurance factors for serious mental illness as for physical illness.

(5) An issuer of a group health benefit plan may not count toward the number of outpatient visits required to be covered under this Section an outpatient visit for the purpose of medication management and shall cover the outpatient visits under the same terms and conditions as it covers outpatient visits for the treatment of physical illness.

(6) An issuer of a group health benefit plan may provide or offer coverage required under this Section through a managed care plan.

(7) This Section shall not be interpreted to require a group health benefit plan to provide coverage for treatment of:

(A) an addiction to a controlled substance or cannabis that is used in violation of law;

or (B) mental illness resulting from the use of a controlled substance or cannabis in violation of law.

(8) (Blank).

(c) This Section shall not be interpreted to require coverage for speech therapy or other habilitative services for those individuals covered under Section 356z.14 of this Code.

93-715,94-402, eff.

7-12-04.)8-2-05; Section 20.

The94-584, Countyeff. Economic Development Project Area Tax Increment Allocation Act of 1991 is amended by changing Section 45 as follows:

(558-15-05; ILCS 90/45) (from Ch.

34,94-906, par.eff.

8045)1-1-07; SB0101 Engrossed - 14 - LRB095 03635 BDD 23658 b Sec.

45.94-921, eff.

Filing6-26-06; with county clerk;

certification95-331, ofeff. initial equalized assessed value.

(a)SB0101 AEnrolled county- that13 has- byLRB095 ordinance03635 approvedBDD an23658 economicb development8-21-07.) plan,Section established30. an economic development project area, and adopted tax increment allocation financing for that area shall file certified copies of the ordinance or ordinances with the county clerk.

UponThe receivingHealth theMaintenance ordinanceOrganization orAct ordinances,is theamended county clerk shall immediately determine (i) the most recently ascertained equalized assessed value of each lot, block, tract, or parcel of real property within the economic development project area from which shall be deducted the homestead exemptions provided by Sectionschanging 15-167,Section 15-170,5-3 15-175, and 15-176 of the Property Tax Code (that value being the "initial equalized assessed value" of each such piece of property) and (ii) the total equalized assessed value of all taxable real property within the economic development project area by adding together the most recently ascertained equalized assessed value of each taxable lot, block, tract, or parcel of real property within the economic development project area, from which shall be deducted the homestead exemptions provided by Sections 15-167, 15-170, 15-175, and 15-176 of the Property Tax Code, and shall certify that amount as thefollows: "total initial equalized assessed value" of the taxable real property within the economic development project area.

(b)(215 AfterILCS the125/5-3) county(from clerkCh. has certified the "total initial equalized assessed value" of the taxable real property in the SB0101 Engrossed - 15 - LRB095 03635 BDD 23658 b economic development project area, then in respect to every taxing district containing an economic development project area, the county clerk or any other official required by law to ascertain the amount of the equalized assessed value of all taxable property within the taxing district for the purpose of computing the rate per cent of tax to be extended upon taxable property within the taxing district shall, in every year that tax increment allocation financing is in effect, ascertain the amount of value of taxable property in an economic development project area by including in that amount the lower of the current equalized assessed value or the certified "total initial equalized assessed value" of all taxable real property in the area.

The111 rate1/2, perpar. cent of tax determined shall be extended to the current equalized assessed value of all property in the economic development project area in the same manner as the rate per cent of tax is extended to all other taxable property in the taxing district.

The1411.2) methodSec. of extending taxes established under this Section shall terminate when the county adopts an ordinance dissolving the special tax allocation fund for the economic development project area.

This5-3. Act shall not be construed as relieving property owners within an economic development project area from paying a uniform rate of taxes upon the current equalized assessed value of their taxable property as provided in the Property Tax Code.

Insurance Code provisions.

(a) Health Maintenance Organizations shall be subject to the provisions of Sections 133, 134, 137, 140, 141.1, 141.2, 141.3, 143, 143c, 147, 148, 149, 151, 152, 153, 154, 154.5, 154.6, 154.7, 154.8, 155.04, 355.2, 356m, 356v, 356w, 356x, 356y, 356z.2, 356z.4, 356z.5, 356z.6, 356z.8, 356z.9, 356z.10, 356z.14, 364.01, 367.2, 367.2-5, 367i, 368a, 368b, 368c, 368d, 368e, 370c, 401, 401.1, 402, 403, 403A, 408, 408.2, 409, 412, 444, and 444.1, paragraph (c) of subsection (2) of Section 367, and Articles IIA, VIII 1/2, XII, XII 1/2, XIII, XIII 1/2, XXV, and XXVI of the Illinois Insurance Code.

(b) For purposes of the Illinois Insurance Code, except for Sections 444 and 444.1 and Articles XIII and XIII 1/2, Health Maintenance Organizations in the following categories are deemed to be "domestic companies":

(1) a corporation authorized under the Dental Service Plan Act or the Voluntary Health Services Plans Act;

(2) a corporation organized under the laws of this State;

or (3) a corporation organized under the laws of another SB0101 Enrolled - 14 - LRB095 03635 BDD 23658 b state, 30% or more of the enrollees of which are residents of this State, except a corporation subject to substantially the same requirements in its state of organization as is a "domestic company" under Article VIII 1/2 of the Illinois Insurance Code.

(c) In considering the merger, consolidation, or other acquisition of control of a Health Maintenance Organization pursuant to Article VIII 1/2 of the Illinois Insurance Code, (1) the Director shall give primary consideration to the continuation of benefits to enrollees and the financial conditions of the acquired Health Maintenance Organization after the merger, consolidation, or other acquisition of control takes effect;

(2)(i) the criteria specified in subsection (1)(b) of Section 131.8 of the Illinois Insurance Code shall not apply and (ii) the Director, in making his determination with respect to the merger, consolidation, or other acquisition of control, need not take into account the effect on competition of the merger, consolidation, or other acquisition of control;

(3) the Director shall have the power to require the following information:

(A) certification by an independent actuary of the adequacy of the reserves of the Health Maintenance Organization sought to be acquired;

(B) pro forma financial statements reflecting the SB0101 Enrolled - 15 - LRB095 03635 BDD 23658 b combined balance sheets of the acquiring company and the Health Maintenance Organization sought to be acquired as of the end of the preceding year and as of a date 90 days prior to the acquisition, as well as pro forma financial statements reflecting projected combined operation for a period of 2 years;

(C) a pro forma business plan detailing an acquiring party's plans with respect to the operation of the Health Maintenance Organization sought to be acquired for a period of not less than 3 years;

and (D) such other information as the Director shall require.

(d) The provisions of Article VIII 1/2 of the Illinois Insurance Code and this Section 5-3 shall apply to the sale by any health maintenance organization of greater than 10% of its enrollee population (including without limitation the health maintenance organization's right, title, and interest in and to its health care certificates).

(e) In considering any management contract or service agreement subject to Section 141.1 of the Illinois Insurance Code, the Director (i) shall, in addition to the criteria specified in Section 141.2 of the Illinois Insurance Code, take into account the effect of the management contract or service agreement on the continuation of benefits to enrollees and the financial condition of the health maintenance organization to be managed or serviced, and (ii) need not take into account the SB0101 Enrolled - 16 - LRB095 03635 BDD 23658 b effect of the management contract or service agreement on competition.

(f) Except for small employer groups as defined in the Small Employer Rating, Renewability and Portability Health Insurance Act and except for medicare supplement policies as defined in Section 363 of the Illinois Insurance Code, a Health Maintenance Organization may by contract agree with a group or other enrollment unit to effect refunds or charge additional premiums under the following terms and conditions:

(i) the amount of, and other terms and conditions with respect to, the refund or additional premium are set forth in the group or enrollment unit contract agreed in advance of the period for which a refund is to be paid or additional premium is to be charged (which period shall not be less than one year);

and (ii) the amount of the refund or additional premium shall not exceed 20% of the Health Maintenance Organization's profitable or unprofitable experience with respect to the group or other enrollment unit for the period (and, for purposes of a refund or additional premium, the profitable or unprofitable experience shall be calculated taking into account a pro rata share of the Health Maintenance Organization's administrative and marketing expenses, but shall not include any refund to be made or additional premium to be paid pursuant to this subsection (f)).

The Health Maintenance Organization and SB0101 Enrolled - 17 - LRB095 03635 BDD 23658 b the group or enrollment unit may agree that the profitable or unprofitable experience may be calculated taking into account the refund period and the immediately preceding 2 plan years.

The Health Maintenance Organization shall include a statement in the evidence of coverage issued to each enrollee describing the possibility of a refund or additional premium, and upon request of any group or enrollment unit, provide to the group or enrollment unit a description of the method used to calculate (1) the Health Maintenance Organization's profitable experience with respect to the group or enrollment unit and the resulting refund to the group or enrollment unit or (2) the Health Maintenance Organization's unprofitable experience with respect to the group or enrollment unit and the resulting additional premium to be paid by the group or enrollment unit.

In no event shall the Illinois Health Maintenance Organization Guaranty Association be liable to pay any contractual obligation of an insolvent organization to pay any refund authorized under this Section.

93-715,94-906, eff.

7-12-04.)1-1-07; SB0101 Engrossed - 16 - LRB095 03635 BDD 23658 b Section 25.

The94-1076, Illinoiseff. Municipal Code is amended by changing Sections 11-74.4-8, 11-74.4-9, and 11-74.6-40 as follows:

(6512-29-06; ILCS 5/11-74.4-8) (from Ch.

24,95-422, par.eff.

11-74.4-8)8-24-07; Sec.

11-74.4-8.95-520, eff.

Tax8-28-07; increment allocation financing.

A95-876, municipalityeff. may not adopt tax increment financing in a redevelopment project area after the effective date of this amendatory Act of 1997 that will encompass an area that is currently included in an enterprise zone created under the Illinois Enterprise Zone Act unless that municipality, pursuant to Section 5.4 of the Illinois Enterprise Zone Act, amends the enterprise zone designating ordinance to limit the eligibility for tax abatements as provided in Section 5.4.1 of the Illinois Enterprise Zone Act.

A8-21-08.) municipality, at the time a redevelopment project area is designated, may adopt tax increment allocation financing by passing an ordinance providing that the ad valorem taxes, if any, arising from the levies upon taxable real property in such redevelopment project area by taxing districts and tax rates determined in the manner provided in paragraph (c) of Section 11-74.4-935. each year after the effective date of the ordinance until redevelopment project costs and all municipal obligations financing redevelopment project costs incurred under this Division have been paid shall be divided as follows:

(a)The ThatVoluntary portionHealth ofServices taxesPlans leviedAct upon each taxable lot, SB0101 Engrossed - 17 - LRB095 03635 BDD 23658 b block, tract or parcel of real property which is attributableamended to the lower of the current equalized assessed value or the initial equalized assessed value of each such taxable lot, block, tract or parcel of real property in the redevelopment project area shall be allocated to and when collected shall be paid by thechanging countySection collector10 toas thefollows: respective affected taxing districts in the manner required by law in the absence of the adoption of tax increment allocation financing.

(b)SB0101 ExceptEnrolled from- a18 tax- leviedLRB095 by03635 aBDD township23658 tob retire(215 bondsILCS issued165/10) to(from satisfyCh. court-ordered damages, that portion, if any, of such taxes which is attributable to the increase in the current equalized assessed valuation 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 project area shall be allocated to and when collected shall be paid to the municipal treasurer who shall deposit said taxes into a special fund called the special tax allocation fund of the municipality for the purpose of paying redevelopment project costs and obligations incurred in the payment thereof.

In32, anypar. county with a population of 3,000,000 or more that has adopted a procedure for collecting taxes that provides for one or more of the installments of the taxes to be billed and collected on an estimated basis, the municipal treasurer shall be paid for deposit in the special tax allocation fund of the municipality, from the taxes collected from estimated bills issued for property in the SB0101 Engrossed - 18 - LRB095 03635 BDD 23658 b redevelopment project area, the difference between the amount actually collected from each taxable lot, block, tract, or parcel of real property within the redevelopment project area and an amount determined by multiplying the rate at which taxes were last extended against the taxable lot, block, track, or parcel of real property in the manner provided in subsection (c) of Section 11-74.4-9 by the initial equalized assessed value of the property divided by the number of installments in which real estate taxes are billed and collected within the county;

provided604) thatSec. the payments on or before December 31, 1999 to a municipal treasurer shall be made only if each of the following conditions are met:

(1)10. The total equalized assessed value of the redevelopment project area as last determined was not less than 175% of the total initial equalized assessed value.

(2)Application Not more than 50% of theInsurance totalCode equalizedprovisions. assessed value of the redevelopment project area as last determined is attributable to a piece of property assigned a single real estate index number.

(3)Health Theservices municipalplan clerkcorporations hasand certifiedall topersons theinterested countytherein clerkor thatdealing thetherewith municipalityshall hasbe issuedsubject its obligations to whichthe thereprovisions hasof beenArticles pledgedIIA theand incrementalXII property1/2 taxesand ofSections the3.1, redevelopment133, project140, area143, or143c, taxes149, levied155.37, and354, collected355.2, on356g.5, any356r, or356t, all356u, property356v, in356w, the356x, municipality356y, or356z.1, the356z.2, full356z.4, faith356z.5, and356z.6, credit356z.8, of356z.9, the356z.10, municipality356z.14, to364.01, pay367.2, or368a, secure401, payment401.1, for402, all403, or403A, a408, portion408.2, ofand the412, redevelopmentand projectparagraphs SB0101(7) Engrossedand -(15) 19of -Section LRB095367 03635of BDDthe 23658Illinois bInsurance costs.Code.

The certification shall be filed annually no later than September 1 for the estimated taxes to be distributed in the following year;

however, for the year 1992 the certification shall be made at any time on or before March 31, 1992.

(4) The municipality has not requested that the total initial equalized assessed value of real property be adjusted as provided in subsection (b) of Section 11-74.4-9.

The conditions of paragraphs (1) through (4) do not apply after December 31, 1999 to payments to a municipal treasurer made by a county with 3,000,000 or more inhabitants that has adopted an estimated billing procedure for collecting taxes.

If a county that has adopted the estimated billing procedure makes an erroneous overpayment of tax revenue to the municipal treasurer, then the county may seek a refund of that overpayment.

The county shall send the municipal treasurer a notice of liability for the overpayment on or before the mailing date of the next real estate tax bill within the county.

The refund shall be limited to the amount of the overpayment.

It is the intent of this Division that after the effective date of this amendatory Act of 1988 a municipality’s own ad valorem tax arising from levies on taxable real property be included in the determination of incremental revenue in the manner provided in paragraph (c) of Section 11-74.4-9.

If the SB0101 Engrossed - 20 - LRB095 03635 BDD 23658 b municipality does not extend such a tax, it shall annually deposit in the municipality’s Special Tax Increment Fund an amount equal to 10% of the total contributions to the fund from all other taxing districts in that year.

The annual 10% deposit required by this paragraph shall be limited to the actual amount of municipally produced incremental tax revenues available to the municipality from taxpayers located in the redevelopment project area in that year if:

(a) the plan for the area restricts the use of the property primarily to industrial purposes, (b) the municipality establishing the redevelopment project area is a home-rule community with a 1990 population of between 25,000 and 50,000, (c) the municipality is wholly located within a county with a 1990 population of over 750,000 and (d) the redevelopment project area was established by the municipality prior to June 1, 1990.

This payment shall be in lieu of a contribution of ad valorem taxes on real property.

If no such payment is made, any redevelopment project area of the municipality shall be dissolved.

If a municipality has adopted tax increment allocation financing by ordinance and the County Clerk thereafter certifies the "total initial equalized assessed value as adjusted" of the taxable real property within such redevelopment project area in the manner provided in paragraph (b) of Section 11-74.4-9, each year after the date of the certification of the total initial equalized assessed value as adjusted until redevelopment project costs and all municipal SB0101 Engrossed - 21 - LRB095 03635 BDD 23658 b obligations financing redevelopment project costs have been paid the ad valorem taxes, if any, arising from the levies upon the taxable real property in such redevelopment project area by taxing districts and tax rates determined in the manner provided in paragraph (c) of Section 11-74.4-9 shall be divided as follows:

(1) That portion of the taxes levied upon each taxable lot, block, tract or parcel of real property which is attributable to the lower of the current equalized assessed value or "current equalized assessed value as adjusted" or the initial equalized assessed value of each such taxable lot, block, tract, or parcel of real property existing at the time tax increment financing was adopted, minus the total current homestead exemptions provided by Sections 15-167, 15-170, 15-175, and 15-176 of the Property Tax Code in the redevelopment project area shall be allocated to and when collected shall be paid by the county collector to the respective affected taxing districts in the manner required by law in the absence of the adoption of tax increment allocation financing.

(2) That portion, if any, of such taxes which is attributable to the increase in the current equalized assessed valuation 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 existing at the time tax increment financing was SB0101 Engrossed - 22 - LRB095 03635 BDD 23658 b adopted, minus the total current homestead exemptions pertaining to each piece of property provided by Sections 15-167, 15-170, 15-175, and 15-176 of the Property Tax Code in the redevelopment project area, shall be allocated to and when collected shall be paid to the municipal Treasurer, who shall deposit said taxes into a special fund called the special tax allocation fund of the municipality for the purpose of paying redevelopment project costs and obligations incurred in the payment thereof.

The municipality may pledge in the ordinance the funds in and to be deposited in the special tax allocation fund for the payment of such costs and obligations.

No part of the current equalized assessed valuation of each property in the redevelopment project area attributable to any increase above the total initial equalized assessed value, or the total initial equalized assessed value as adjusted, of such properties shall be used in calculating the general State school aid formula, provided for in Section 18-8 of the School Code, until such time as all redevelopment project costs have been paid as provided for in this Section.

Whenever a municipality issues bonds for the purpose of financing redevelopment project costs, such municipality may provide by ordinance for the appointment of a trustee, which may be any trust company within the State, and for the establishment of such funds or accounts to be maintained by such trustee as the municipality shall deem necessary to SB0101 Engrossed - 23 - LRB095 03635 BDD 23658 b provide for the security and payment of the bonds.

If such municipality provides for the appointment of a trustee, such trustee shall be considered the assignee of any payments assigned by the municipality pursuant to such ordinance and this Section.

Any amounts paid to such trustee as assignee shall be deposited in the funds or accounts established pursuant to such trust agreement, and shall be held by such trustee in trust for the benefit of the holders of the bonds, and such holders shall have a lien on and a security interest in such funds or accounts so long as the bonds remain outstanding and unpaid.

Upon retirement of the bonds, the trustee shall pay over any excess amounts held to the municipality for deposit in the special tax allocation fund.

When such redevelopment projects costs, including without limitation all municipal obligations financing redevelopment project costs incurred under this Division, have been paid, all surplus funds then remaining in the special tax allocation fund shall be distributed by being paid by the municipal treasurer to the Department of Revenue, the municipality and the county collector;

first to the Department of Revenue and the municipality in direct proportion to the tax incremental revenue received from the State and the municipality, but not to exceed the total incremental revenue received from the State or the municipality less any annual surplus distribution of incremental revenue previously made;

with any remaining funds to be paid to the County Collector who shall immediately SB0101 Engrossed - 24 - LRB095 03635 BDD 23658 b thereafter pay said funds to the taxing districts in the redevelopment project area in the same manner and proportion as the most recent distribution by the county collector to the affected districts of real property taxes from real property in the redevelopment project area.

Upon the payment of all redevelopment project costs, the retirement of obligations, the distribution of any excess monies pursuant to this Section, and final closing of the books and records of the redevelopment project area, the municipality shall adopt an ordinance dissolving the special tax allocation fund for the redevelopment project area and terminating the designation of the redevelopment project area as a redevelopment project area.

Title to real or personal property and public improvements acquired by or for the municipality as a result of the redevelopment project and plan shall vest in the municipality when acquired and shall continue to be held by the municipality after the redevelopment project area has been terminated.

Municipalities shall notify affected taxing districts prior to November 1 if the redevelopment project area is to be terminated by December 31 of that same year.

If a municipality extends estimated dates of completion of a redevelopment project and retirement of obligations to finance a redevelopment project, as allowed by this amendatory Act of 1993, that extension shall not extend the property tax increment allocation financing authorized by this Section.

Thereafter the rates of the taxing districts shall be extended SB0101 Engrossed - 25 - LRB095 03635 BDD 23658 b and taxes levied, collected and distributed in the manner applicable in the absence of the adoption of tax increment allocation financing.

Nothing in this Section shall be construed as relieving property in such redevelopment project areas from being assessed as provided in the Property Tax Code or as relieving owners of such property from paying a uniform rate of taxes, as required by Section 4 of Article 9 of the Illinois Constitution.

92-16,94-1076, eff.

6-28-01;12-29-06;

93-298,95-189, eff.

7-23-03;8-16-07;

93-715,95-331, eff.

7-12-04.)8-21-07; (65 ILCS 5/11-74.4-9) (from Ch.

24,95-422, par.eff.

11-74.4-9)8-24-07; Sec.

11-74.4-9.95-520, eff.

Equalized8-28-07; assessed value of property.

(a)95-876, Ifeff. a municipality by ordinance provides for tax increment allocation financing pursuant to Section 11-74.4-8, the county clerk immediately thereafter shall determine (1) the most recently ascertained equalized assessed value of each lot, block, tract or parcel of real property within such redevelopment project area from which shall be deducted the homestead exemptions provided by Sections 15-167, 15-170, 15-175, and 15-176 of the Property Tax Code, which value shall be the "initial equalized assessed value" of each such piece of property, and (2) the total equalized assessed value of all taxable real property within such redevelopment project area by adding together the most recently ascertained equalized SB0101 Engrossed - 26 - LRB095 03635 BDD 23658 b assessed value of each taxable lot, block, tract, or parcel of real property within such project area, from which shall be deducted the homestead exemptions provided by Sections 15-167, 15-170, 15-175, and 15-176 of the Property Tax Code, and shall certify such amount as the "total initial equalized assessed value" of the taxable real property within such project area.

(b)8-21-08.) InSection reference90. to any municipality which has adopted tax increment financing after January 1, 1978, and in respect to which the county clerk has certified the "total initial equalized assessed value" of the property in the redevelopment area, the municipality may thereafter request the clerk in writing to adjust the initial equalized value of all taxable real property within the redevelopment project area by deducting therefrom the exemptions provided for by Sections 15-167, 15-170, 15-175, and 15-176 of the Property Tax Code applicable to each lot, block, tract or parcel of real property within such redevelopment project area.

The countyState clerkMandates shallAct immediately after the written request to adjust the total initial equalized value is receivedamended determine the total homestead exemptions in the redevelopment project area provided by Sections 15-167, 15-170, 15-175, and 15-176 of the Property Tax Code by adding togetherSection the8.32 homesteadas exemptionsfollows: provided by said Sections on each lot, block, tract or parcel of real property within such redevelopment project area and then shall deduct the total of said exemptions from the total initial equalized assessed value.

The(30 countyILCS clerk805/8.32 shallnew) thenSec. SB0101 Engrossed - 27 - LRB095 03635 BDD 23658 b promptly certify such amount as the "total initial equalized assessed value as adjusted" of the taxable real property within such redevelopment project area.

(c)8.32. After the county clerk has certified the "total initial equalized assessed value" of the taxable real property in such area, then in respect to every taxing district containing a redevelopment project area, the county clerk or any other official required by law to ascertain the amount of the equalized assessed value of all taxable property within such district for the purpose of computing the rate per cent of tax to be extended upon taxable property within such district, shall in every year that tax increment allocation financing is in effect ascertain the amount of value of taxable property in a redevelopment project area by including in such amount the lower of the current equalized assessed value or the certified "total initial equalized assessed value" of all taxable real property in such area, except that after he has certified the "total initial equalized assessed value as adjusted" he shall in the year of said certification if tax rates have not been extended and in every year thereafter that tax increment allocation financing is in effect ascertain the amount of value of taxable property in a redevelopment project area by including in such amount the lower of the current equalized assessed value or the certified "total initial equalized assessed value as adjusted" of all taxable real property in such area.

The rate per cent of tax determined shall be SB0101 Engrossed - 28 - LRB095 03635 BDD 23658 b extended to the current equalized assessed value of all property in the redevelopment project area in the same manner as the rate per cent of tax is extended to all other taxable property in the taxing district.

The method of extending taxes established under this Section shall terminate when the municipality adopts an ordinance dissolving the special tax allocation fund for the redevelopment project area.

This Division shall not be construed as relieving property owners within a redevelopment project area from paying a uniform rate of taxes upon the current equalized assessed value of their taxable property as provided in the Property Tax Code.

(Source:

P.A.

93-715, eff.

7-12-04.) (65 ILCS 5/11-74.6-40) Sec.

11-74.6-40.

Equalized assessed value determination;

property tax extension.

(a) If a municipality by ordinance provides for tax increment allocation financing under Section 11-74.6-35, the county clerk immediately thereafter:

(1) shall determine the initial equalized assessed value of each parcel of real property in the redevelopment project area, which is the most recently established equalized assessed value of each lot, block, tract or parcel of taxable real property within the redevelopment project area, minus the homestead exemptions provided by Sections 15-167, 15-170, 15-175, and 15-176 of the Property SB0101 Engrossed - 29 - LRB095 03635 BDD 23658 b Tax Code;

and (2) shall certify to the municipality the total initial equalized assessed value of all taxable real property within the redevelopment project area.

(b) Any municipality that has established a vacant industrial buildings conservation area may, by ordinance passed after the adoption of tax increment allocation financing, provide that the county clerk immediately thereafter shall again determine:

(1) the updated initial equalized assessed value of each lot, block, tract or parcel of real property, which is the most recently ascertained equalized assessed value of each lot, block, tract or parcel of real property within the vacant industrial buildings conservation area;

and (2) the total updated initial equalized assessed value of all taxable real property within the redevelopment project area, which is the total of the updated initial equalized assessed value of all taxable real property within the vacant industrial buildings conservation area.

The county clerk shall certify to the municipality the total updated initial equalized assessed value of all taxable real property within the industrial buildings conservation area.

(c) After the county clerk has certified the total initial equalized assessed value or the total updated initial equalized assessed value of the taxable real property in the area, for SB0101 Engrossed - 30 - LRB095 03635 BDD 23658 b each taxing district in which a redevelopment project area is situated, the county clerk or any other official required by law to determine the amount of the equalized assessed value of all taxable property within the district for the purpose of computing the percentage rate of tax to be extended upon taxable property within the district, shall in every year that tax increment allocation financing is in effect determine the total equalized assessed value of taxable property in a redevelopment project area by including in that amount the lower of the current equalized assessed value or the certified total initial equalized assessed value or, if the total of updated equalized assessed value has been certified, the total updated initial equalized assessed value of all taxable real property in the redevelopment project area.

After he has certified the total initial equalized assessed value he shall in the year of that certification, if tax rates have not been extended, and in every subsequent year that tax increment allocation financing is in effect, determine the amount of equalized assessed value of taxable property in a redevelopment project area by including in that amount the lower of the current total equalized assessed value or the certified total initial equalized assessed value or, if the total of updated initial equalized assessed values have been certified, the total updated initial equalized assessed value of all taxable real property in the redevelopment project area.

(d) The percentage rate of tax determined shall be extended SB0101 Engrossed - 31 - LRB095 03635 BDD 23658 b on the current equalized assessed value of all property in the redevelopment project area in the same manner as the rate per cent of tax is extended to all other taxable property in the taxing district.

The method of extending taxes established under this Section shall terminate when the municipality adopts an ordinance dissolving the special tax allocation fund for the redevelopment project area.

This Law shall not be construed as relieving property owners within a redevelopment project area from paying a uniform rate of taxes upon the current equalized assessed value of their taxable property as provided in the Property Tax Code.

(Source:

P.A.

93-715, eff.

7-12-04.) Section 30.

The Economic Development Project Area Tax Increment Allocation Act of 1995 is amended by changing Section 45 as follows:

(65 ILCS 110/45) Sec.

45.

Filing with county clerk;

certification of initial equalized assessed value.

(a) A municipality that has by ordinance approved an economic development plan, established an economic development project area, and adopted tax increment allocation financing for that area shall file certified copies of the ordinance or ordinances with the county clerk.

Upon receiving the ordinance or ordinances, the county clerk shall immediately determine (i) SB0101 Engrossed - 32 - LRB095 03635 BDD 23658 b the most recently ascertained equalized assessed value of each lot, block, tract, or parcel of real property within the economic development project area from which shall be deducted the homestead exemptions provided by Sections 15-167, 15-170, 15-175, and 15-176 of the Property Tax Code (that value being the "initial equalized assessed value" of each such piece of property) and (ii) the total equalized assessed value of all taxable real property within the economic development project area by adding together the most recently ascertained equalized assessed value of each taxable lot, block, tract, or parcel of real property within the economic development project area, from which shall be deducted the homestead exemptions provided by Sections 15-167, 15-170, 15-175, and 15-176 of the Property Tax Code, and shall certify that amount as the "total initial equalized assessed value" of the taxable real property within the economic development project area.

(b) After the county clerk has certified the "total initial equalized assessed value" of the taxable real property in the economic development project area, then in respect to every taxing district containing an economic development project area, the county clerk or any other official required by law to ascertain the amount of the equalized assessed value of all taxable property within the taxing district for the purpose of computing the rate per cent of tax to be extended upon taxable property within the taxing district shall, in every year that tax increment allocation financing is in effect, ascertain the SB0101 Engrossed - 33 - LRB095 03635 BDD 23658 b amount of value of taxable property in an economic development project area by including in that amount the lower of the current equalized assessed value or the certified "total initial equalized assessed value" of all taxable real property in the area.

The rate per cent of tax determined shall be extended to the current equalized assessed value of all property in the economic development project area in the same manner as the rate per cent of tax is extended to all other taxable property in the taxing district.

The method of extending taxes established under this Section shall terminate when the municipality adopts an ordinance dissolving the special tax allocation fund for the economic development project area.

This Act shall not be construed as relieving owners or lessees of property within an economic development project area from paying a uniform rate of taxes upon the current equalized assessed value of their taxable property as provided in the Property Tax Code.

(Source:

P.A.

93-715, eff.

7-12-04.) Section 90.

The State Mandates Act is amended by adding Section 8.31 as follows:

(30 ILCS 805/8.31 new) Sec.

8.31.

Notwithstanding Sections 6 and 8 of this Act, no reimbursement by the State is required for the implementation of any mandate created by this amendatory Act of SB0101 Engrossed - 34 - LRB095 03635 BDD 23658 b the 95th General Assembly.

Section 99.

Effective date.

This Act takes effect upon becoming law.