Illinois 2023-2024 Regular Session

Illinois Senate Bill SB3447 Compare Versions

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

Old	New	Differences
1	1	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 SB3447 Introduced 2/8/2024, by Sen. Bill Cunningham SYNOPSIS AS INTRODUCED: 35 ILCS 200/18-18535 ILCS 200/18-190.3 new Amends the Property Tax Extension Limitation Law in the Property Tax Code. Makes changes to the definition of "limiting rate". Provides for alternative referendum procedures for a taxing district to increase its aggregate extension. Effective immediately. LRB103 39401 HLH 69582 b A BILL FOR 103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 SB3447 Introduced 2/8/2024, by Sen. Bill Cunningham SYNOPSIS AS INTRODUCED: 35 ILCS 200/18-18535 ILCS 200/18-190.3 new 35 ILCS 200/18-185 35 ILCS 200/18-190.3 new Amends the Property Tax Extension Limitation Law in the Property Tax Code. Makes changes to the definition of "limiting rate". Provides for alternative referendum procedures for a taxing district to increase its aggregate extension. Effective immediately. LRB103 39401 HLH 69582 b LRB103 39401 HLH 69582 b A BILL FOR
2	2	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 SB3447 Introduced 2/8/2024, by Sen. Bill Cunningham SYNOPSIS AS INTRODUCED:
3	3	35 ILCS 200/18-18535 ILCS 200/18-190.3 new 35 ILCS 200/18-185 35 ILCS 200/18-190.3 new
4	4	35 ILCS 200/18-185
5	5	35 ILCS 200/18-190.3 new
6	6	Amends the Property Tax Extension Limitation Law in the Property Tax Code. Makes changes to the definition of "limiting rate". Provides for alternative referendum procedures for a taxing district to increase its aggregate extension. Effective immediately.
7	7	LRB103 39401 HLH 69582 b LRB103 39401 HLH 69582 b
8	8	LRB103 39401 HLH 69582 b
9	9	A BILL FOR
10	10	SB3447LRB103 39401 HLH 69582 b SB3447 LRB103 39401 HLH 69582 b
11	11	SB3447 LRB103 39401 HLH 69582 b
12	12	1 AN ACT concerning revenue.
13	13	2 Be it enacted by the People of the State of Illinois,
14	14	3 represented in the General Assembly:
15	15	4 Section 5. The Property Tax Code is amended by changing
16	16	5 Section 18-185 and by adding Section 18-190.3 as follows:
17	17	6 (35 ILCS 200/18-185)
18	18	7 Sec. 18-185. Short title; definitions. This Division 5
19	19	8 may be cited as the Property Tax Extension Limitation Law. As
20	20	9 used in this Division 5:
21	21	10 "Consumer Price Index" means the Consumer Price Index for
22	22	11 All Urban Consumers for all items published by the United
23	23	12 States Department of Labor.
24	24	13 "Extension limitation" means (a) the lesser of 5% or the
25	25	14 percentage increase in the Consumer Price Index during the
26	26	15 12-month calendar year preceding the levy year or (b) the rate
27	27	16 of increase approved by voters under Section 18-205.
28	28	17 "Affected county" means a county of 3,000,000 or more
29	29	18 inhabitants or a county contiguous to a county of 3,000,000 or
30	30	19 more inhabitants.
31	31	20 "Taxing district" has the same meaning provided in Section
32	32	21 1-150, except as otherwise provided in this Section. For the
33	33	22 1991 through 1994 levy years only, "taxing district" includes
34	34	23 only each non-home rule taxing district having the majority of
35	35
36	36
37	37
38	38	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 SB3447 Introduced 2/8/2024, by Sen. Bill Cunningham SYNOPSIS AS INTRODUCED:
39	39	35 ILCS 200/18-18535 ILCS 200/18-190.3 new 35 ILCS 200/18-185 35 ILCS 200/18-190.3 new
40	40	35 ILCS 200/18-185
41	41	35 ILCS 200/18-190.3 new
42	42	Amends the Property Tax Extension Limitation Law in the Property Tax Code. Makes changes to the definition of "limiting rate". Provides for alternative referendum procedures for a taxing district to increase its aggregate extension. Effective immediately.
43	43	LRB103 39401 HLH 69582 b LRB103 39401 HLH 69582 b
44	44	LRB103 39401 HLH 69582 b
45	45	A BILL FOR
46	46
47	47
48	48
49	49
50	50
51	51	35 ILCS 200/18-185
52	52	35 ILCS 200/18-190.3 new
53	53
54	54
55	55
56	56	LRB103 39401 HLH 69582 b
57	57
58	58
59	59
60	60
61	61
62	62
63	63
64	64
65	65
66	66	SB3447 LRB103 39401 HLH 69582 b
67	67
68	68
69	69	SB3447- 2 -LRB103 39401 HLH 69582 b SB3447 - 2 - LRB103 39401 HLH 69582 b
70	70	SB3447 - 2 - LRB103 39401 HLH 69582 b
71	71	1 its 1990 equalized assessed value within any county or
72	72	2 counties contiguous to a county with 3,000,000 or more
73	73	3 inhabitants. Beginning with the 1995 levy year, "taxing
74	74	4 district" includes only each non-home rule taxing district
75	75	5 subject to this Law before the 1995 levy year and each non-home
76	76	6 rule taxing district not subject to this Law before the 1995
77	77	7 levy year having the majority of its 1994 equalized assessed
78	78	8 value in an affected county or counties. Beginning with the
79	79	9 levy year in which this Law becomes applicable to a taxing
80	80	10 district as provided in Section 18-213, "taxing district" also
81	81	11 includes those taxing districts made subject to this Law as
82	82	12 provided in Section 18-213.
83	83	13 "Aggregate extension" for taxing districts to which this
84	84	14 Law applied before the 1995 levy year means the annual
85	85	15 corporate extension for the taxing district and those special
86	86	16 purpose extensions that are made annually for the taxing
87	87	17 district, excluding special purpose extensions: (a) made for
88	88	18 the taxing district to pay interest or principal on general
89	89	19 obligation bonds that were approved by referendum; (b) made
90	90	20 for any taxing district to pay interest or principal on
91	91	21 general obligation bonds issued before October 1, 1991; (c)
92	92	22 made for any taxing district to pay interest or principal on
93	93	23 bonds issued to refund or continue to refund those bonds
94	94	24 issued before October 1, 1991; (d) made for any taxing
95	95	25 district to pay interest or principal on bonds issued to
96	96	26 refund or continue to refund bonds issued after October 1,
97	97
98	98
99	99
100	100
101	101
102	102	SB3447 - 2 - LRB103 39401 HLH 69582 b
103	103
104	104
105	105	SB3447- 3 -LRB103 39401 HLH 69582 b SB3447 - 3 - LRB103 39401 HLH 69582 b
106	106	SB3447 - 3 - LRB103 39401 HLH 69582 b
107	107	1 1991 that were approved by referendum; (e) made for any taxing
108	108	2 district to pay interest or principal on revenue bonds issued
109	109	3 before October 1, 1991 for payment of which a property tax levy
110	110	4 or the full faith and credit of the unit of local government is
111	111	5 pledged; however, a tax for the payment of interest or
112	112	6 principal on those bonds shall be made only after the
113	113	7 governing body of the unit of local government finds that all
114	114	8 other sources for payment are insufficient to make those
115	115	9 payments; (f) made for payments under a building commission
116	116	10 lease when the lease payments are for the retirement of bonds
117	117	11 issued by the commission before October 1, 1991, to pay for the
118	118	12 building project; (g) made for payments due under installment
119	119	13 contracts entered into before October 1, 1991; (h) made for
120	120	14 payments of principal and interest on bonds issued under the
121	121	15 Metropolitan Water Reclamation District Act to finance
122	122	16 construction projects initiated before October 1, 1991; (i)
123	123	17 made for payments of principal and interest on limited bonds,
124	124	18 as defined in Section 3 of the Local Government Debt Reform
125	125	19 Act, in an amount not to exceed the debt service extension base
126	126	20 less the amount in items (b), (c), (e), and (h) of this
127	127	21 definition for non-referendum obligations, except obligations
128	128	22 initially issued pursuant to referendum; (j) made for payments
129	129	23 of principal and interest on bonds issued under Section 15 of
130	130	24 the Local Government Debt Reform Act; (k) made by a school
131	131	25 district that participates in the Special Education District
132	132	26 of Lake County, created by special education joint agreement
133	133
134	134
135	135
136	136
137	137
138	138	SB3447 - 3 - LRB103 39401 HLH 69582 b
139	139
140	140
141	141	SB3447- 4 -LRB103 39401 HLH 69582 b SB3447 - 4 - LRB103 39401 HLH 69582 b
142	142	SB3447 - 4 - LRB103 39401 HLH 69582 b
143	143	1 under Section 10-22.31 of the School Code, for payment of the
144	144	2 school district's share of the amounts required to be
145	145	3 contributed by the Special Education District of Lake County
146	146	4 to the Illinois Municipal Retirement Fund under Article 7 of
147	147	5 the Illinois Pension Code; the amount of any extension under
148	148	6 this item (k) shall be certified by the school district to the
149	149	7 county clerk; (l) made to fund expenses of providing joint
150	150	8 recreational programs for persons with disabilities under
151	151	9 Section 5-8 of the Park District Code or Section 11-95-14 of
152	152	10 the Illinois Municipal Code; (m) made for temporary relocation
153	153	11 loan repayment purposes pursuant to Sections 2-3.77 and
154	154	12 17-2.2d of the School Code; (n) made for payment of principal
155	155	13 and interest on any bonds issued under the authority of
156	156	14 Section 17-2.2d of the School Code; (o) made for contributions
157	157	15 to a firefighter's pension fund created under Article 4 of the
158	158	16 Illinois Pension Code, to the extent of the amount certified
159	159	17 under item (5) of Section 4-134 of the Illinois Pension Code;
160	160	18 and (p) made for road purposes in the first year after a
161	161	19 township assumes the rights, powers, duties, assets, property,
162	162	20 liabilities, obligations, and responsibilities of a road
163	163	21 district abolished under the provisions of Section 6-133 of
164	164	22 the Illinois Highway Code.
165	165	23 "Aggregate extension" for the taxing districts to which
166	166	24 this Law did not apply before the 1995 levy year (except taxing
167	167	25 districts subject to this Law in accordance with Section
168	168	26 18-213) means the annual corporate extension for the taxing
169	169
170	170
171	171
172	172
173	173
174	174	SB3447 - 4 - LRB103 39401 HLH 69582 b
175	175
176	176
177	177	SB3447- 5 -LRB103 39401 HLH 69582 b SB3447 - 5 - LRB103 39401 HLH 69582 b
178	178	SB3447 - 5 - LRB103 39401 HLH 69582 b
179	179	1 district and those special purpose extensions that are made
180	180	2 annually for the taxing district, excluding special purpose
181	181	3 extensions: (a) made for the taxing district to pay interest
182	182	4 or principal on general obligation bonds that were approved by
183	183	5 referendum; (b) made for any taxing district to pay interest
184	184	6 or principal on general obligation bonds issued before March
185	185	7 1, 1995; (c) made for any taxing district to pay interest or
186	186	8 principal on bonds issued to refund or continue to refund
187	187	9 those bonds issued before March 1, 1995; (d) made for any
188	188	10 taxing district to pay interest or principal on bonds issued
189	189	11 to refund or continue to refund bonds issued after March 1,
190	190	12 1995 that were approved by referendum; (e) made for any taxing
191	191	13 district to pay interest or principal on revenue bonds issued
192	192	14 before March 1, 1995 for payment of which a property tax levy
193	193	15 or the full faith and credit of the unit of local government is
194	194	16 pledged; however, a tax for the payment of interest or
195	195	17 principal on those bonds shall be made only after the
196	196	18 governing body of the unit of local government finds that all
197	197	19 other sources for payment are insufficient to make those
198	198	20 payments; (f) made for payments under a building commission
199	199	21 lease when the lease payments are for the retirement of bonds
200	200	22 issued by the commission before March 1, 1995 to pay for the
201	201	23 building project; (g) made for payments due under installment
202	202	24 contracts entered into before March 1, 1995; (h) made for
203	203	25 payments of principal and interest on bonds issued under the
204	204	26 Metropolitan Water Reclamation District Act to finance
205	205
206	206
207	207
208	208
209	209
210	210	SB3447 - 5 - LRB103 39401 HLH 69582 b
211	211
212	212
213	213	SB3447- 6 -LRB103 39401 HLH 69582 b SB3447 - 6 - LRB103 39401 HLH 69582 b
214	214	SB3447 - 6 - LRB103 39401 HLH 69582 b
215	215	1 construction projects initiated before October 1, 1991; (h-4)
216	216	2 made for stormwater management purposes by the Metropolitan
217	217	3 Water Reclamation District of Greater Chicago under Section 12
218	218	4 of the Metropolitan Water Reclamation District Act; (h-8) made
219	219	5 for payments of principal and interest on bonds issued under
220	220	6 Section 9.6a of the Metropolitan Water Reclamation District
221	221	7 Act to make contributions to the pension fund established
222	222	8 under Article 13 of the Illinois Pension Code; (i) made for
223	223	9 payments of principal and interest on limited bonds, as
224	224	10 defined in Section 3 of the Local Government Debt Reform Act,
225	225	11 in an amount not to exceed the debt service extension base less
226	226	12 the amount in items (b), (c), and (e) of this definition for
227	227	13 non-referendum obligations, except obligations initially
228	228	14 issued pursuant to referendum and bonds described in
229	229	15 subsections (h) and (h-8) of this definition; (j) made for
230	230	16 payments of principal and interest on bonds issued under
231	231	17 Section 15 of the Local Government Debt Reform Act; (k) made
232	232	18 for payments of principal and interest on bonds authorized by
233	233	19 Public Act 88-503 and issued under Section 20a of the Chicago
234	234	20 Park District Act for aquarium or museum projects and bonds
235	235	21 issued under Section 20a of the Chicago Park District Act for
236	236	22 the purpose of making contributions to the pension fund
237	237	23 established under Article 12 of the Illinois Pension Code; (l)
238	238	24 made for payments of principal and interest on bonds
239	239	25 authorized by Public Act 87-1191 or 93-601 and (i) issued
240	240	26 pursuant to Section 21.2 of the Cook County Forest Preserve
241	241
242	242
243	243
244	244
245	245
246	246	SB3447 - 6 - LRB103 39401 HLH 69582 b
247	247
248	248
249	249	SB3447- 7 -LRB103 39401 HLH 69582 b SB3447 - 7 - LRB103 39401 HLH 69582 b
250	250	SB3447 - 7 - LRB103 39401 HLH 69582 b
251	251	1 District Act, (ii) issued under Section 42 of the Cook County
252	252	2 Forest Preserve District Act for zoological park projects, or
253	253	3 (iii) issued under Section 44.1 of the Cook County Forest
254	254	4 Preserve District Act for botanical gardens projects; (m) made
255	255	5 pursuant to Section 34-53.5 of the School Code, whether levied
256	256	6 annually or not; (n) made to fund expenses of providing joint
257	257	7 recreational programs for persons with disabilities under
258	258	8 Section 5-8 of the Park District Code or Section 11-95-14 of
259	259	9 the Illinois Municipal Code; (o) made by the Chicago Park
260	260	10 District for recreational programs for persons with
261	261	11 disabilities under subsection (c) of Section 7.06 of the
262	262	12 Chicago Park District Act; (p) made for contributions to a
263	263	13 firefighter's pension fund created under Article 4 of the
264	264	14 Illinois Pension Code, to the extent of the amount certified
265	265	15 under item (5) of Section 4-134 of the Illinois Pension Code;
266	266	16 (q) made by Ford Heights School District 169 under Section
267	267	17 17-9.02 of the School Code; and (r) made for the purpose of
268	268	18 making employer contributions to the Public School Teachers'
269	269	19 Pension and Retirement Fund of Chicago under Section 34-53 of
270	270	20 the School Code.
271	271	21 "Aggregate extension" for all taxing districts to which
272	272	22 this Law applies in accordance with Section 18-213, except for
273	273	23 those taxing districts subject to paragraph (2) of subsection
274	274	24 (e) of Section 18-213, means the annual corporate extension
275	275	25 for the taxing district and those special purpose extensions
276	276	26 that are made annually for the taxing district, excluding
277	277
278	278
279	279
280	280
281	281
282	282	SB3447 - 7 - LRB103 39401 HLH 69582 b
283	283
284	284
285	285	SB3447- 8 -LRB103 39401 HLH 69582 b SB3447 - 8 - LRB103 39401 HLH 69582 b
286	286	SB3447 - 8 - LRB103 39401 HLH 69582 b
287	287	1 special purpose extensions: (a) made for the taxing district
288	288	2 to pay interest or principal on general obligation bonds that
289	289	3 were approved by referendum; (b) made for any taxing district
290	290	4 to pay interest or principal on general obligation bonds
291	291	5 issued before the date on which the referendum making this Law
292	292	6 applicable to the taxing district is held; (c) made for any
293	293	7 taxing district to pay interest or principal on bonds issued
294	294	8 to refund or continue to refund those bonds issued before the
295	295	9 date on which the referendum making this Law applicable to the
296	296	10 taxing district is held; (d) made for any taxing district to
297	297	11 pay interest or principal on bonds issued to refund or
298	298	12 continue to refund bonds issued after the date on which the
299	299	13 referendum making this Law applicable to the taxing district
300	300	14 is held if the bonds were approved by referendum after the date
301	301	15 on which the referendum making this Law applicable to the
302	302	16 taxing district is held; (e) made for any taxing district to
303	303	17 pay interest or principal on revenue bonds issued before the
304	304	18 date on which the referendum making this Law applicable to the
305	305	19 taxing district is held for payment of which a property tax
306	306	20 levy or the full faith and credit of the unit of local
307	307	21 government is pledged; however, a tax for the payment of
308	308	22 interest or principal on those bonds shall be made only after
309	309	23 the governing body of the unit of local government finds that
310	310	24 all other sources for payment are insufficient to make those
311	311	25 payments; (f) made for payments under a building commission
312	312	26 lease when the lease payments are for the retirement of bonds
313	313
314	314
315	315
316	316
317	317
318	318	SB3447 - 8 - LRB103 39401 HLH 69582 b
319	319
320	320
321	321	SB3447- 9 -LRB103 39401 HLH 69582 b SB3447 - 9 - LRB103 39401 HLH 69582 b
322	322	SB3447 - 9 - LRB103 39401 HLH 69582 b
323	323	1 issued by the commission before the date on which the
324	324	2 referendum making this Law applicable to the taxing district
325	325	3 is held to pay for the building project; (g) made for payments
326	326	4 due under installment contracts entered into before the date
327	327	5 on which the referendum making this Law applicable to the
328	328	6 taxing district is held; (h) made for payments of principal
329	329	7 and interest on limited bonds, as defined in Section 3 of the
330	330	8 Local Government Debt Reform Act, in an amount not to exceed
331	331	9 the debt service extension base less the amount in items (b),
332	332	10 (c), and (e) of this definition for non-referendum
333	333	11 obligations, except obligations initially issued pursuant to
334	334	12 referendum; (i) made for payments of principal and interest on
335	335	13 bonds issued under Section 15 of the Local Government Debt
336	336	14 Reform Act; (j) made for a qualified airport authority to pay
337	337	15 interest or principal on general obligation bonds issued for
338	338	16 the purpose of paying obligations due under, or financing
339	339	17 airport facilities required to be acquired, constructed,
340	340	18 installed or equipped pursuant to, contracts entered into
341	341	19 before March 1, 1996 (but not including any amendments to such
342	342	20 a contract taking effect on or after that date); (k) made to
343	343	21 fund expenses of providing joint recreational programs for
344	344	22 persons with disabilities under Section 5-8 of the Park
345	345	23 District Code or Section 11-95-14 of the Illinois Municipal
346	346	24 Code; (l) made for contributions to a firefighter's pension
347	347	25 fund created under Article 4 of the Illinois Pension Code, to
348	348	26 the extent of the amount certified under item (5) of Section
349	349
350	350
351	351
352	352
353	353
354	354	SB3447 - 9 - LRB103 39401 HLH 69582 b
355	355
356	356
357	357	SB3447- 10 -LRB103 39401 HLH 69582 b SB3447 - 10 - LRB103 39401 HLH 69582 b
358	358	SB3447 - 10 - LRB103 39401 HLH 69582 b
359	359	1 4-134 of the Illinois Pension Code; and (m) made for the taxing
360	360	2 district to pay interest or principal on general obligation
361	361	3 bonds issued pursuant to Section 19-3.10 of the School Code.
362	362	4 "Aggregate extension" for all taxing districts to which
363	363	5 this Law applies in accordance with paragraph (2) of
364	364	6 subsection (e) of Section 18-213 means the annual corporate
365	365	7 extension for the taxing district and those special purpose
366	366	8 extensions that are made annually for the taxing district,
367	367	9 excluding special purpose extensions: (a) made for the taxing
368	368	10 district to pay interest or principal on general obligation
369	369	11 bonds that were approved by referendum; (b) made for any
370	370	12 taxing district to pay interest or principal on general
371	371	13 obligation bonds issued before March 7, 1997 (the effective
372	372	14 date of Public Act 89-718); (c) made for any taxing district to
373	373	15 pay interest or principal on bonds issued to refund or
374	374	16 continue to refund those bonds issued before March 7, 1997
375	375	17 (the effective date of Public Act 89-718); (d) made for any
376	376	18 taxing district to pay interest or principal on bonds issued
377	377	19 to refund or continue to refund bonds issued after March 7,
378	378	20 1997 (the effective date of Public Act 89-718) if the bonds
379	379	21 were approved by referendum after March 7, 1997 (the effective
380	380	22 date of Public Act 89-718); (e) made for any taxing district to
381	381	23 pay interest or principal on revenue bonds issued before March
382	382	24 7, 1997 (the effective date of Public Act 89-718) for payment
383	383	25 of which a property tax levy or the full faith and credit of
384	384	26 the unit of local government is pledged; however, a tax for the
385	385
386	386
387	387
388	388
389	389
390	390	SB3447 - 10 - LRB103 39401 HLH 69582 b
391	391
392	392
393	393	SB3447- 11 -LRB103 39401 HLH 69582 b SB3447 - 11 - LRB103 39401 HLH 69582 b
394	394	SB3447 - 11 - LRB103 39401 HLH 69582 b
395	395	1 payment of interest or principal on those bonds shall be made
396	396	2 only after the governing body of the unit of local government
397	397	3 finds that all other sources for payment are insufficient to
398	398	4 make those payments; (f) made for payments under a building
399	399	5 commission lease when the lease payments are for the
400	400	6 retirement of bonds issued by the commission before March 7,
401	401	7 1997 (the effective date of Public Act 89-718) to pay for the
402	402	8 building project; (g) made for payments due under installment
403	403	9 contracts entered into before March 7, 1997 (the effective
404	404	10 date of Public Act 89-718); (h) made for payments of principal
405	405	11 and interest on limited bonds, as defined in Section 3 of the
406	406	12 Local Government Debt Reform Act, in an amount not to exceed
407	407	13 the debt service extension base less the amount in items (b),
408	408	14 (c), and (e) of this definition for non-referendum
409	409	15 obligations, except obligations initially issued pursuant to
410	410	16 referendum; (i) made for payments of principal and interest on
411	411	17 bonds issued under Section 15 of the Local Government Debt
412	412	18 Reform Act; (j) made for a qualified airport authority to pay
413	413	19 interest or principal on general obligation bonds issued for
414	414	20 the purpose of paying obligations due under, or financing
415	415	21 airport facilities required to be acquired, constructed,
416	416	22 installed or equipped pursuant to, contracts entered into
417	417	23 before March 1, 1996 (but not including any amendments to such
418	418	24 a contract taking effect on or after that date); (k) made to
419	419	25 fund expenses of providing joint recreational programs for
420	420	26 persons with disabilities under Section 5-8 of the Park
421	421
422	422
423	423
424	424
425	425
426	426	SB3447 - 11 - LRB103 39401 HLH 69582 b
427	427
428	428
429	429	SB3447- 12 -LRB103 39401 HLH 69582 b SB3447 - 12 - LRB103 39401 HLH 69582 b
430	430	SB3447 - 12 - LRB103 39401 HLH 69582 b
431	431	1 District Code or Section 11-95-14 of the Illinois Municipal
432	432	2 Code; and (l) made for contributions to a firefighter's
433	433	3 pension fund created under Article 4 of the Illinois Pension
434	434	4 Code, to the extent of the amount certified under item (5) of
435	435	5 Section 4-134 of the Illinois Pension Code.
436	436	6 "Debt service extension base" means an amount equal to
437	437	7 that portion of the extension for a taxing district for the
438	438	8 1994 levy year, or for those taxing districts subject to this
439	439	9 Law in accordance with Section 18-213, except for those
440	440	10 subject to paragraph (2) of subsection (e) of Section 18-213,
441	441	11 for the levy year in which the referendum making this Law
442	442	12 applicable to the taxing district is held, or for those taxing
443	443	13 districts subject to this Law in accordance with paragraph (2)
444	444	14 of subsection (e) of Section 18-213 for the 1996 levy year,
445	445	15 constituting an extension for payment of principal and
446	446	16 interest on bonds issued by the taxing district without
447	447	17 referendum, but not including excluded non-referendum bonds.
448	448	18 For park districts (i) that were first subject to this Law in
449	449	19 1991 or 1995 and (ii) whose extension for the 1994 levy year
450	450	20 for the payment of principal and interest on bonds issued by
451	451	21 the park district without referendum (but not including
452	452	22 excluded non-referendum bonds) was less than 51% of the amount
453	453	23 for the 1991 levy year constituting an extension for payment
454	454	24 of principal and interest on bonds issued by the park district
455	455	25 without referendum (but not including excluded non-referendum
456	456	26 bonds), "debt service extension base" means an amount equal to
457	457
458	458
459	459
460	460
461	461
462	462	SB3447 - 12 - LRB103 39401 HLH 69582 b
463	463
464	464
465	465	SB3447- 13 -LRB103 39401 HLH 69582 b SB3447 - 13 - LRB103 39401 HLH 69582 b
466	466	SB3447 - 13 - LRB103 39401 HLH 69582 b
467	467	1 that portion of the extension for the 1991 levy year
468	468	2 constituting an extension for payment of principal and
469	469	3 interest on bonds issued by the park district without
470	470	4 referendum (but not including excluded non-referendum bonds).
471	471	5 A debt service extension base established or increased at any
472	472	6 time pursuant to any provision of this Law, except Section
473	473	7 18-212, shall be increased each year commencing with the later
474	474	8 of (i) the 2009 levy year or (ii) the first levy year in which
475	475	9 this Law becomes applicable to the taxing district, by the
476	476	10 lesser of 5% or the percentage increase in the Consumer Price
477	477	11 Index during the 12-month calendar year preceding the levy
478	478	12 year. The debt service extension base may be established or
479	479	13 increased as provided under Section 18-212. "Excluded
480	480	14 non-referendum bonds" means (i) bonds authorized by Public Act
481	481	15 88-503 and issued under Section 20a of the Chicago Park
482	482	16 District Act for aquarium and museum projects; (ii) bonds
483	483	17 issued under Section 15 of the Local Government Debt Reform
484	484	18 Act; or (iii) refunding obligations issued to refund or to
485	485	19 continue to refund obligations initially issued pursuant to
486	486	20 referendum.
487	487	21 "Special purpose extensions" include, but are not limited
488	488	22 to, extensions for levies made on an annual basis for
489	489	23 unemployment and workers' compensation, self-insurance,
490	490	24 contributions to pension plans, and extensions made pursuant
491	491	25 to Section 6-601 of the Illinois Highway Code for a road
492	492	26 district's permanent road fund whether levied annually or not.
493	493
494	494
495	495
496	496
497	497
498	498	SB3447 - 13 - LRB103 39401 HLH 69582 b
499	499
500	500
501	501	SB3447- 14 -LRB103 39401 HLH 69582 b SB3447 - 14 - LRB103 39401 HLH 69582 b
502	502	SB3447 - 14 - LRB103 39401 HLH 69582 b
503	503	1 The extension for a special service area is not included in the
504	504	2 aggregate extension.
505	505	3 "Aggregate extension base" means the taxing district's
506	506	4 last preceding aggregate extension as adjusted under Sections
507	507	5 18-135, 18-215, 18-230, 18-206, and 18-233. Beginning with
508	508	6 levy year 2022, for taxing districts that are specified in
509	509	7 Section 18-190.7, the taxing district's aggregate extension
510	510	8 base shall be calculated as provided in Section 18-190.7. An
511	511	9 adjustment under Section 18-135 shall be made for the 2007
512	512	10 levy year and all subsequent levy years whenever one or more
513	513	11 counties within which a taxing district is located (i) used
514	514	12 estimated valuations or rates when extending taxes in the
515	515	13 taxing district for the last preceding levy year that resulted
516	516	14 in the over or under extension of taxes, or (ii) increased or
517	517	15 decreased the tax extension for the last preceding levy year
518	518	16 as required by Section 18-135(c). Whenever an adjustment is
519	519	17 required under Section 18-135, the aggregate extension base of
520	520	18 the taxing district shall be equal to the amount that the
521	521	19 aggregate extension of the taxing district would have been for
522	522	20 the last preceding levy year if either or both (i) actual,
523	523	21 rather than estimated, valuations or rates had been used to
524	524	22 calculate the extension of taxes for the last levy year, or
525	525	23 (ii) the tax extension for the last preceding levy year had not
526	526	24 been adjusted as required by subsection (c) of Section 18-135.
527	527	25 Notwithstanding any other provision of law, for levy year
528	528	26 2012, the aggregate extension base for West Northfield School
529	529
530	530
531	531
532	532
533	533
534	534	SB3447 - 14 - LRB103 39401 HLH 69582 b
535	535
536	536
537	537	SB3447- 15 -LRB103 39401 HLH 69582 b SB3447 - 15 - LRB103 39401 HLH 69582 b
538	538	SB3447 - 15 - LRB103 39401 HLH 69582 b
539	539	1 District No. 31 in Cook County shall be $12,654,592.
540	540	2 Notwithstanding any other provision of law, for levy year
541	541	3 2022, the aggregate extension base of a home equity assurance
542	542	4 program that levied at least $1,000,000 in property taxes in
543	543	5 levy year 2019 or 2020 under the Home Equity Assurance Act
544	544	6 shall be the amount that the program's aggregate extension
545	545	7 base for levy year 2021 would have been if the program had
546	546	8 levied a property tax for levy year 2021.
547	547	9 "Levy year" has the same meaning as "year" under Section
548	548	10 1-155.
549	549	11 "New property" means (i) the assessed value, after final
550	550	12 board of review or board of appeals action, of new
551	551	13 improvements or additions to existing improvements on any
552	552	14 parcel of real property that increase the assessed value of
553	553	15 that real property during the levy year multiplied by the
554	554	16 equalization factor issued by the Department under Section
555	555	17 17-30, (ii) the assessed value, after final board of review or
556	556	18 board of appeals action, of real property not exempt from real
557	557	19 estate taxation, which real property was exempt from real
558	558	20 estate taxation for any portion of the immediately preceding
559	559	21 levy year, multiplied by the equalization factor issued by the
560	560	22 Department under Section 17-30, including the assessed value,
561	561	23 upon final stabilization of occupancy after new construction
562	562	24 is complete, of any real property located within the
563	563	25 boundaries of an otherwise or previously exempt military
564	564	26 reservation that is intended for residential use and owned by
565	565
566	566
567	567
568	568
569	569
570	570	SB3447 - 15 - LRB103 39401 HLH 69582 b
571	571
572	572
573	573	SB3447- 16 -LRB103 39401 HLH 69582 b SB3447 - 16 - LRB103 39401 HLH 69582 b
574	574	SB3447 - 16 - LRB103 39401 HLH 69582 b
575	575	1 or leased to a private corporation or other entity, (iii) in
576	576	2 counties that classify in accordance with Section 4 of Article
577	577	3 IX of the Illinois Constitution, an incentive property's
578	578	4 additional assessed value resulting from a scheduled increase
579	579	5 in the level of assessment as applied to the first year final
580	580	6 board of review market value, and (iv) any increase in
581	581	7 assessed value due to oil or gas production from an oil or gas
582	582	8 well required to be permitted under the Hydraulic Fracturing
583	583	9 Regulatory Act that was not produced in or accounted for
584	584	10 during the previous levy year. In addition, the county clerk
585	585	11 in a county containing a population of 3,000,000 or more shall
586	586	12 include in the 1997 recovered tax increment value for any
587	587	13 school district, any recovered tax increment value that was
588	588	14 applicable to the 1995 tax year calculations.
589	589	15 "Qualified airport authority" means an airport authority
590	590	16 organized under the Airport Authorities Act and located in a
591	591	17 county bordering on the State of Wisconsin and having a
592	592	18 population in excess of 200,000 and not greater than 500,000.
593	593	19 "Recovered tax increment value" means, except as otherwise
594	594	20 provided in this paragraph, the amount of the current year's
595	595	21 equalized assessed value, in the first year after a
596	596	22 municipality terminates the designation of an area as a
597	597	23 redevelopment project area previously established under the
598	598	24 Tax Increment Allocation Redevelopment Act in the Illinois
599	599	25 Municipal Code, previously established under the Industrial
600	600	26 Jobs Recovery Law in the Illinois Municipal Code, previously
601	601
602	602
603	603
604	604
605	605
606	606	SB3447 - 16 - LRB103 39401 HLH 69582 b
607	607
608	608
609	609	SB3447- 17 -LRB103 39401 HLH 69582 b SB3447 - 17 - LRB103 39401 HLH 69582 b
610	610	SB3447 - 17 - LRB103 39401 HLH 69582 b
611	611	1 established under the Economic Development Project Area Tax
612	612	2 Increment Act of 1995, or previously established under the
613	613	3 Economic Development Area Tax Increment Allocation Act, of
614	614	4 each taxable lot, block, tract, or parcel of real property in
615	615	5 the redevelopment project area over and above the initial
616	616	6 equalized assessed value of each property in the redevelopment
617	617	7 project area. For the taxes which are extended for the 1997
618	618	8 levy year, the recovered tax increment value for a non-home
619	619	9 rule taxing district that first became subject to this Law for
620	620	10 the 1995 levy year because a majority of its 1994 equalized
621	621	11 assessed value was in an affected county or counties shall be
622	622	12 increased if a municipality terminated the designation of an
623	623	13 area in 1993 as a redevelopment project area previously
624	624	14 established under the Tax Increment Allocation Redevelopment
625	625	15 Act in the Illinois Municipal Code, previously established
626	626	16 under the Industrial Jobs Recovery Law in the Illinois
627	627	17 Municipal Code, or previously established under the Economic
628	628	18 Development Area Tax Increment Allocation Act, by an amount
629	629	19 equal to the 1994 equalized assessed value of each taxable
630	630	20 lot, block, tract, or parcel of real property in the
631	631	21 redevelopment project area over and above the initial
632	632	22 equalized assessed value of each property in the redevelopment
633	633	23 project area. In the first year after a municipality removes a
634	634	24 taxable lot, block, tract, or parcel of real property from a
635	635	25 redevelopment project area established under the Tax Increment
636	636	26 Allocation Redevelopment Act in the Illinois Municipal Code,
637	637
638	638
639	639
640	640
641	641
642	642	SB3447 - 17 - LRB103 39401 HLH 69582 b
643	643
644	644
645	645	SB3447- 18 -LRB103 39401 HLH 69582 b SB3447 - 18 - LRB103 39401 HLH 69582 b
646	646	SB3447 - 18 - LRB103 39401 HLH 69582 b
647	647	1 the Industrial Jobs Recovery Law in the Illinois Municipal
648	648	2 Code, or the Economic Development Area Tax Increment
649	649	3 Allocation Act, "recovered tax increment value" means the
650	650	4 amount of the current year's equalized assessed value of each
651	651	5 taxable lot, block, tract, or parcel of real property removed
652	652	6 from the redevelopment project area over and above the initial
653	653	7 equalized assessed value of that real property before removal
654	654	8 from the redevelopment project area.
655	655	9 Except as otherwise provided in this Section, "limiting
656	656	10 rate" means a fraction the numerator of which is the last
657	657	11 preceding aggregate extension base times an amount equal to
658	658	12 one plus the extension limitation defined in this Section and
659	659	13 the denominator of which is the current year's equalized
660	660	14 assessed value of all real property in the territory under the
661	661	15 jurisdiction of the taxing district during the prior levy
662	662	16 year. If an increase in the district's aggregate extension has
663	663	17 been approved by referendum on or after January 1, 2025, then,
664	664	18 for the year for which the increase has been approved, the
665	665	19 limiting rate for that district shall be a fraction, the
666	666	20 numerator of which is the sum of (i) the last preceding
667	667	21 aggregate extension base times an amount equal to one plus the
668	668	22 extension limitation defined in this Section and (ii) the
669	669	23 amount of the increase approved by referendum under Section
670	670	24 18-190.3 of this Law, and the denominator of which is the
671	671	25 current year's equalized assessed value of all real property
672	672	26 in the territory under the jurisdiction of the taxing district
673	673
674	674
675	675
676	676
677	677
678	678	SB3447 - 18 - LRB103 39401 HLH 69582 b
679	679
680	680
681	681	SB3447- 19 -LRB103 39401 HLH 69582 b SB3447 - 19 - LRB103 39401 HLH 69582 b
682	682	SB3447 - 19 - LRB103 39401 HLH 69582 b
683	683	1 during the prior levy year. For those taxing districts that
684	684	2 reduced their aggregate extension for the last preceding levy
685	685	3 year, except for school districts that reduced their extension
686	686	4 for educational purposes pursuant to Section 18-206, the
687	687	5 highest aggregate extension in any of the last 3 preceding
688	688	6 levy years shall be used for the purpose of computing the
689	689	7 limiting rate. The denominator shall not include new property
690	690	8 or the recovered tax increment value. If a new rate, a rate
691	691	9 decrease, or a limiting rate increase has been approved at an
692	692	10 election held after March 21, 2006, then (i) the otherwise
693	693	11 applicable limiting rate shall be increased by the amount of
694	694	12 the new rate or shall be reduced by the amount of the rate
695	695	13 decrease, as the case may be, or (ii) in the case of a limiting
696	696	14 rate increase, the limiting rate shall be equal to the rate set
697	697	15 forth in the proposition approved by the voters for each of the
698	698	16 years specified in the proposition, after which the limiting
699	699	17 rate of the taxing district shall be calculated as otherwise
700	700	18 provided. In the case of a taxing district that obtained
701	701	19 referendum approval for an increased limiting rate on March
702	702	20 20, 2012, the limiting rate for tax year 2012 shall be the rate
703	703	21 that generates the approximate total amount of taxes
704	704	22 extendable for that tax year, as set forth in the proposition
705	705	23 approved by the voters; this rate shall be the final rate
706	706	24 applied by the county clerk for the aggregate of all capped
707	707	25 funds of the district for tax year 2012.
708	708	26 (Source: P.A. 102-263, eff. 8-6-21; 102-311, eff. 8-6-21;
709	709
710	710
711	711
712	712
713	713
714	714	SB3447 - 19 - LRB103 39401 HLH 69582 b
715	715
716	716
717	717	SB3447- 20 -LRB103 39401 HLH 69582 b SB3447 - 20 - LRB103 39401 HLH 69582 b
718	718	SB3447 - 20 - LRB103 39401 HLH 69582 b
719	719	1 102-519, eff. 8-20-21; 102-558, eff. 8-20-21; 102-707, eff.
720	720	2 4-22-22; 102-813, eff. 5-13-22; 102-895, eff. 5-23-22;
721	721	3 103-154, eff. 6-30-23.)
722	722	4 (35 ILCS 200/18-190.3 new)
723	723	5 Sec. 18-190.3. Direct referendum; increased aggregate
724	724	6 extension. As an alternative to the procedures set forth in
725	725	7 Sections 18-190 and 18-205, a taxing district may increase its
726	726	8 aggregate extension to an amount that exceeds the amount that
727	727	9 would otherwise be permitted under this Law if the taxing
728	728	10 district obtains referendum approval as provided in this
729	729	11 Section.
730	730	12 The proposition seeking to obtain referendum approval to
731	731	13 increase the aggregate extension shall be in substantially the
732	732	14 following form:
733	733	15 "Shall the aggregate extension (the total dollar
734	734	16 amount levied by the district for each of the tax funds
735	735	17 included under the Property Tax Limitation Law)
736	736	18 for...(insert legal name, number, if any, and county or
737	737	19 counties of taxing district and geographic or other common
738	738	20 name by which a school or community college district is
739	739	21 known and referred to), Illinois, be increased by (insert
740	740	22 the amount of increase sought) for levy year...(insert the
741	741	23 levy year for which the increase will take effect)?"
742	742	24 The votes must be recorded as "Yes" or "No".
743	743	25 The ballot for any proposition submitted pursuant to this
744	744
745	745
746	746
747	747
748	748
749	749	SB3447 - 20 - LRB103 39401 HLH 69582 b
750	750
751	751
752	752	SB3447- 21 -LRB103 39401 HLH 69582 b SB3447 - 21 - LRB103 39401 HLH 69582 b
753	753	SB3447 - 21 - LRB103 39401 HLH 69582 b
754	754	1 Section shall have printed thereon, but not as a part of the
755	755	2 proposition submitted, only the following supplemental
756	756	3 information (which shall be supplied to the election authority
757	757	4 by the taxing district) in substantially the following form:
758	758	5 "(1) The amount of taxes extended which were subject
759	759	6 to the Property Tax Cap (Property Tax Extension Limitation
760	760	7 Law) in levy year (insert most recent levy year) was
761	761	8 (insert the most recent levy year's aggregate extension
762	762	9 base). If the proposition is not approved, then the taxing
763	763	10 district may increase its extension by the lesser of 5% or
764	764	11 the percentage increase in the Consumer Price Index during
765	765	12 the 12-month calendar year preceding (insert levy year).
766	766	13 If the proposition is approved, then the taxing district
767	767	14 may increase its extension in levy year (insert levy year)
768	768	15 by an additional (insert the amount of increase sought).
769	769	16 (2) For the...(insert levy year for which the increase
770	770	17 will be applicable) levy year, the approximate amount of
771	771	18 the additional tax extendable against property containing
772	772	19 a single family residence and having a fair market value
773	773	20 at the time of the referendum of $100,000 is estimated to
774	774	21 be (insert amount).".
775	775	22 The approximate amount of the additional taxes extendable
776	776	23 shown in paragraph (2) shall be calculated by multiplying
777	777	24 $100,000 (the fair market value of the property without regard
778	778	25 to any property tax exemptions) by (i) the percentage level of
779	779	26 assessment prescribed for that property by statute, or by
780	780
781	781
782	782
783	783
784	784
785	785	SB3447 - 21 - LRB103 39401 HLH 69582 b
786	786
787	787
788	788	SB3447- 22 -LRB103 39401 HLH 69582 b SB3447 - 22 - LRB103 39401 HLH 69582 b
789	789	SB3447 - 22 - LRB103 39401 HLH 69582 b
790	790	1 ordinance of the county board in counties that classify
791	791	2 property for purposes of taxation in accordance with Section 4
792	792	3 of Article IX of the Illinois Constitution; (ii) the most
793	793	4 recent final equalization factor certified to the county clerk
794	794	5 by the Department of Revenue at the time the taxing district
795	795	6 initiates the submission of the proposition to the electors;
796	796	7 and (iii) the increase in the aggregate extension proposed in
797	797	8 the question; and dividing the result by the last known
798	798	9 equalized assessed value of the taxing district at the time
799	799	10 the submission of the question is initiated by the taxing
800	800	11 district. Any notice required to be published in connection
801	801	12 with the submission of the proposition shall also contain this
802	802	13 supplemental information and shall not contain any other
803	803	14 supplemental information regarding the proposition. Any error,
804	804	15 miscalculation, or inaccuracy in computing any amount set
805	805	16 forth on the ballot and in the notice that is not deliberate
806	806	17 shall not invalidate or affect the validity of any proposition
807	807	18 approved. Notice of the referendum shall be published and
808	808	19 posted as otherwise required by law, and the submission of the
809	809	20 proposition shall be initiated as provided by law.
810	810	21 If a majority of all ballots cast on the proposition are in
811	811	22 favor of the proposition, then the district may increase its
812	812	23 aggregate extension as provided in the referendum.
813	813
814	814
815	815
816	816
817	817
818	818	SB3447 - 22 - LRB103 39401 HLH 69582 b