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
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
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
LRB103 28616 HLH 54997 b
A BILL FOR
SB2092LRB103 28616 HLH 54997 b SB2092 LRB103 28616 HLH 54997 b
SB2092 LRB103 28616 HLH 54997 b
1 AN ACT concerning revenue.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Department of Revenue Law of the Civil
5 Administrative Code of Illinois is amended by adding Section
6 2505-810 as follows:
7 (20 ILCS 2505/2505-810 new)
8 Sec. 2505-810. State Property Tax Relief Reimbursement
9 Pilot Program.
10 (a) For State fiscal years that begin on or after July 1,
11 2023 and before July 1, 2028, the Department shall establish
12 and administer a State Property Tax Relief Reimbursement Pilot
13 Program. For purposes of the Program, the Department shall
14 reimburse taxing districts, in an amount calculated under
15 subsection (c), for revenue loss associated with Section 15-55
16 of the Property Tax Code. Reimbursement payments shall be made
17 to the county that applies to the Department of Revenue on
18 behalf of the taxing district under subsection (b) and shall
19 be distributed by the county to the taxing district as
20 directed by the Department of Revenue.
21 (b) If the county clerk determines that one or more taxing
22 districts located in whole or in part in the county qualify for
23 reimbursement under this Section, then the county clerk shall
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
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
LRB103 28616 HLH 54997 b
A BILL FOR
20 ILCS 2505/2505-810 new
LRB103 28616 HLH 54997 b
SB2092 LRB103 28616 HLH 54997 b
SB2092- 2 -LRB103 28616 HLH 54997 b SB2092 - 2 - LRB103 28616 HLH 54997 b
SB2092 - 2 - LRB103 28616 HLH 54997 b
1 apply to the Department of Revenue on behalf of the taxing
2 district for reimbursement under this Section in the form and
3 manner required by the Department. The county clerk shall
4 consolidate applications submitted on behalf of more than one
5 taxing district into a single application. The Department of
6 Revenue may audit the information submitted by the county
7 clerk as part of the application under this Section for the
8 purpose of verifying the accuracy of that information.
9 (c) The amount of the reimbursement shall be the
10 difference between (1) the amount of property tax revenue that
11 would have been required to be collected and distributed to
12 the taxing district for the taxable year that falls 2 years
13 before the start of the State fiscal year if the exemptions
14 under Section 15-55 of the Property Tax Code had not been
15 applied and (2) the amount of property tax revenue that was
16 required to be collected and distributed to the taxing
17 district for that taxable year.
18 The aggregate amount of reimbursements that may be awarded
19 under this Section for all taxing districts in any calendar
20 year may not exceed $15,000,000. If the total amount of
21 eligible reimbursements under this Section exceeds $15,000,000
22 in any calendar year, then the reimbursement amount awarded to
23 each particular taxing district shall be reduced on a pro rata
24 basis until the aggregate amount of reimbursements awarded
25 under this Section for the calendar year does not exceed
26 $15,000,000.
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1 (d) The Department of Revenue may adopt rules necessary
2 for the implementation of this Section.
3 (e) As used in this Section:
4 "Taxable year" means the calendar year during which
5 property taxes payable in the next succeeding year are levied.
6 "Taxing district" has the meaning given to that term in
7 Section 1-150 of the Property Tax Code.
8 Section 99. Effective date. This Act takes effect upon
9 becoming law.
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