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| Public Act 096-0192 |
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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: | ||||
(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.) | ||
Section 10. The Property Tax Code is amended by changing | ||
Section 15-55 as follows: | ||
(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 | ||
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 | ||
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 | ||
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, | ||
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 | ||
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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