Public Act 095-0672
 		





SB0735 Enrolled
LRB095 04886 BDD 24950 b






    AN ACT concerning local government.

 
    Be it enacted by the People of the State of Illinois,
 
represented in the General Assembly:


 
    Section 5. The Illinois Municipal Code is amended  by adding 
Sections 11-65-10, 11-65-15,  11-65-20, and 11-65-25 as 
follows:
 
    (65 ILCS 5/11-65-10  new)
    Sec. 11-65-10. Public-facilities corporations authorized.

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

    Sec. 11-65-25. Tax exemptions for existing 
public-facilities corporations. If, before the effective date 
of this amendatory Act of the 95th General Assembly, a 
municipality has incorporated a public-facilities corporation 
and the public-facilities corporation complies with the 
requirements set forth in Section 11-65-10, then, for all 
purposes:
        (1) No tax is imposed under the Use Tax Act, the 
    Service Use Tax Act, the Service Occupation Tax Act, or the 
    Retailers' Occupation Tax Act upon the use or sale of 
    tangible personal property sold to a public-facilities 
    corporation for purposes of constructing or furnishing a 
    municipal convention hall; and
        (2) all real property and the municipal convention hall 
    owned by the public-facilities corporation is exempt from 
    property taxation.
 

    Section 99. Effective date. This Act takes effect upon 
becoming law.