Illinois 2023-2024 Regular Session

Illinois Senate Bill SB2092 Compare Versions

Only one version of the bill is available at this time.

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1	1	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 SB2092 Introduced 2/9/2023, by Sen. Doris Turner SYNOPSIS AS INTRODUCED: 20 ILCS 2505/2505-810 new Amends the Department of Revenue Law of the Civil Administrative Code of Illinois. Provides that the Department of Revenue shall establish and administer a State Property Tax Relief Reimbursement Pilot Program for the purpose of reimbursing taxing districts for property tax revenue loss associated with State facilities. Sets forth the amount of the reimbursement. Effective immediately. LRB103 28616 HLH 54997 b A BILL FOR 103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 SB2092 Introduced 2/9/2023, by Sen. Doris Turner SYNOPSIS AS INTRODUCED: 20 ILCS 2505/2505-810 new 20 ILCS 2505/2505-810 new Amends the Department of Revenue Law of the Civil Administrative Code of Illinois. Provides that the Department of Revenue shall establish and administer a State Property Tax Relief Reimbursement Pilot Program for the purpose of reimbursing taxing districts for property tax revenue loss associated with State facilities. Sets forth the amount of the reimbursement. Effective immediately. LRB103 28616 HLH 54997 b LRB103 28616 HLH 54997 b A BILL FOR
2	2	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 SB2092 Introduced 2/9/2023, by Sen. Doris Turner SYNOPSIS AS INTRODUCED:
3	3	20 ILCS 2505/2505-810 new 20 ILCS 2505/2505-810 new
4	4	20 ILCS 2505/2505-810 new
5	5	Amends the Department of Revenue Law of the Civil Administrative Code of Illinois. Provides that the Department of Revenue shall establish and administer a State Property Tax Relief Reimbursement Pilot Program for the purpose of reimbursing taxing districts for property tax revenue loss associated with State facilities. Sets forth the amount of the reimbursement. Effective immediately.
6	6	LRB103 28616 HLH 54997 b LRB103 28616 HLH 54997 b
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8	8	A BILL FOR
9	9	SB2092LRB103 28616 HLH 54997 b SB2092 LRB103 28616 HLH 54997 b
10	10	SB2092 LRB103 28616 HLH 54997 b
11	11	1 AN ACT concerning revenue.
12	12	2 Be it enacted by the People of the State of Illinois,
13	13	3 represented in the General Assembly:
14	14	4 Section 5. The Department of Revenue Law of the Civil
15	15	5 Administrative Code of Illinois is amended by adding Section
16	16	6 2505-810 as follows:
17	17	7 (20 ILCS 2505/2505-810 new)
18	18	8 Sec. 2505-810. State Property Tax Relief Reimbursement
19	19	9 Pilot Program.
20	20	10 (a) For State fiscal years that begin on or after July 1,
21	21	11 2023 and before July 1, 2028, the Department shall establish
22	22	12 and administer a State Property Tax Relief Reimbursement Pilot
23	23	13 Program. For purposes of the Program, the Department shall
24	24	14 reimburse taxing districts, in an amount calculated under
25	25	15 subsection (c), for revenue loss associated with Section 15-55
26	26	16 of the Property Tax Code. Reimbursement payments shall be made
27	27	17 to the county that applies to the Department of Revenue on
28	28	18 behalf of the taxing district under subsection (b) and shall
29	29	19 be distributed by the county to the taxing district as
30	30	20 directed by the Department of Revenue.
31	31	21 (b) If the county clerk determines that one or more taxing
32	32	22 districts located in whole or in part in the county qualify for
33	33	23 reimbursement under this Section, then the county clerk shall
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37	37	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 SB2092 Introduced 2/9/2023, by Sen. Doris Turner SYNOPSIS AS INTRODUCED:
38	38	20 ILCS 2505/2505-810 new 20 ILCS 2505/2505-810 new
39	39	20 ILCS 2505/2505-810 new
40	40	Amends the Department of Revenue Law of the Civil Administrative Code of Illinois. Provides that the Department of Revenue shall establish and administer a State Property Tax Relief Reimbursement Pilot Program for the purpose of reimbursing taxing districts for property tax revenue loss associated with State facilities. Sets forth the amount of the reimbursement. Effective immediately.
41	41	LRB103 28616 HLH 54997 b LRB103 28616 HLH 54997 b
42	42	LRB103 28616 HLH 54997 b
43	43	A BILL FOR
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68	68	1 apply to the Department of Revenue on behalf of the taxing
69	69	2 district for reimbursement under this Section in the form and
70	70	3 manner required by the Department. The county clerk shall
71	71	4 consolidate applications submitted on behalf of more than one
72	72	5 taxing district into a single application. The Department of
73	73	6 Revenue may audit the information submitted by the county
74	74	7 clerk as part of the application under this Section for the
75	75	8 purpose of verifying the accuracy of that information.
76	76	9 (c) The amount of the reimbursement shall be the
77	77	10 difference between (1) the amount of property tax revenue that
78	78	11 would have been required to be collected and distributed to
79	79	12 the taxing district for the taxable year that falls 2 years
80	80	13 before the start of the State fiscal year if the exemptions
81	81	14 under Section 15-55 of the Property Tax Code had not been
82	82	15 applied and (2) the amount of property tax revenue that was
83	83	16 required to be collected and distributed to the taxing
84	84	17 district for that taxable year.
85	85	18 The aggregate amount of reimbursements that may be awarded
86	86	19 under this Section for all taxing districts in any calendar
87	87	20 year may not exceed $15,000,000. If the total amount of
88	88	21 eligible reimbursements under this Section exceeds $15,000,000
89	89	22 in any calendar year, then the reimbursement amount awarded to
90	90	23 each particular taxing district shall be reduced on a pro rata
91	91	24 basis until the aggregate amount of reimbursements awarded
92	92	25 under this Section for the calendar year does not exceed
93	93	26 $15,000,000.
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104	104	1 (d) The Department of Revenue may adopt rules necessary
105	105	2 for the implementation of this Section.
106	106	3 (e) As used in this Section:
107	107	4 "Taxable year" means the calendar year during which
108	108	5 property taxes payable in the next succeeding year are levied.
109	109	6 "Taxing district" has the meaning given to that term in
110	110	7 Section 1-150 of the Property Tax Code.
111	111	8 Section 99. Effective date. This Act takes effect upon
112	112	9 becoming law.
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