Bill Text: IL HB4730 | 2023-2024 | 103rd General Assembly | Introduced

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Bill Title: Amends the Department of Revenue Law of the Civil Administrative Code of Illinois. Provides that the Department of Revenue shall reimburse eligible municipalities for revenue loss associated with tax exempt State property located in the municipality. Provides that the aggregate amount of reimbursements for all taxing districts in any calendar year may not exceed $100,000,000. Sets forth the amount of the reimbursement. Effective immediately.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced) 2024-04-05 - Rule 19(a) / Re-referred to Rules Committee [HB4730 Detail]

Download: Illinois-2023-HB4730-Introduced.html

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103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB4730 Introduced , by Rep. Michael J. Coffey, Jr. 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 reimburse eligible municipalities for revenue loss associated with tax exempt State property located in the municipality. Provides that the aggregate amount of reimbursements for all taxing districts in any calendar year may not exceed $100,000,000. Sets forth the amount of the reimbursement. Effective immediately.
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A BILL FOR
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AN ACT concerning revenue.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Department of Revenue Law of the Civil
Administrative Code of Illinois is amended by adding Section
2505-810 as follows:
(20 ILCS 2505/2505-810 new)
Sec. 2505-810. Municipal Property Tax Relief Reimbursement
Pilot Program.
(a) Subject to appropriation, for State fiscal years that
begin on or after July 1, 2024 and before July 1, 2029, the
Department shall establish and administer a Municipal Property
Tax Relief Reimbursement Pilot Program. For purposes of the
Program, the Department shall reimburse eligible
municipalities for revenue loss associated with tax exempt
State property located in the municipality. Reimbursement
payments shall be made to the county that applies to the
Department of Revenue on behalf of the municipality under
subsection (b) and shall be distributed by the county to the
municipality as directed by the Department of Revenue.
(b) If the county clerk determines that that one or more
municipalities located in whole or in part in the county
qualify for reimbursement under this Section, then the county

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clerk shall apply to the Department of Revenue on behalf of the
municipality for reimbursement under this Section in the form
and manner required by the Department. The county clerk shall
consolidate applications submitted on behalf of more than one
municipality into a single application. The Department of
Revenue may audit the information submitted by the county
clerk as part of the application under this Section for the
purpose of verifying the accuracy of the information.
(c) The maximum amount of the reimbursement the difference
between (i) the amount of property tax revenue that would have
been required to be collected and distributed to the
municipality for the taxable year that falls 2 years before
the start of the State fiscal year if the property tax
exemption for State property had not been applied; and (2) the
amount of property tax revenue that was actually required to
be collected and distributed to the municipality for that
taxable year.
The aggregate amount of reimbursements that may be awarded
under this Section for all municipalities in any calendar year
may not exceed $100,000,000. If the total amount of eligible
reimbursements under this Section exceeds $100,000,000 in any
calendar year, then the reimbursement amount awarded to each
particular municipality shall be reduced on a pro rata basis
until the aggregate amount of reimbursements awarded under
this Section for the calendar year does not exceed
$100,000,000.

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(d) The Department of Revenue may adopt rules necessary
for the implementation of this Section.
(e) As used in this Section:
"Taxable year" means the calendar year during which
property taxes payable in the next succeeding year are levied.