Bill Text: IL SB2586 | 2011-2012 | 97th General Assembly | Introduced
Bill Title: Amends the State Revenue Sharing Act. Makes a technical change in a Section concerning the Personal Property Tax Replacement Fund.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Failed) 2013-01-08 - Session Sine Die [SB2586 Detail]
Download: Illinois-2011-SB2586-Introduced.html
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1 | AN ACT concerning finance.
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2 | Be it enacted by the People of the State of Illinois, | |||||||||||||||||||
3 | represented in the General Assembly:
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4 | Section 5. The State Revenue Sharing Act is amended by | |||||||||||||||||||
5 | changing Section 12 as follows:
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6 | (30 ILCS 115/12) (from Ch. 85, par. 616)
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7 | Sec. 12. Personal Property Tax Replacement Fund. There is | |||||||||||||||||||
8 | hereby
created the the Personal Property Tax Replacement Fund, | |||||||||||||||||||
9 | a special fund in
the State Treasury into which shall be paid | |||||||||||||||||||
10 | all revenue realized:
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11 | (a) all amounts realized from the additional personal | |||||||||||||||||||
12 | property tax
replacement income tax imposed by subsections (c) | |||||||||||||||||||
13 | and (d) of Section 201 of the
Illinois Income Tax Act, except | |||||||||||||||||||
14 | for those amounts deposited into the Income Tax
Refund Fund | |||||||||||||||||||
15 | pursuant to subsection (c) of Section 901 of the Illinois | |||||||||||||||||||
16 | Income
Tax Act; and
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17 | (b) all amounts realized from the additional personal | |||||||||||||||||||
18 | property replacement
invested capital taxes imposed by Section | |||||||||||||||||||
19 | 2a.1 of the Messages Tax
Act, Section 2a.1 of the Gas Revenue | |||||||||||||||||||
20 | Tax Act, Section 2a.1 of the Public
Utilities Revenue Act, and | |||||||||||||||||||
21 | Section 3 of the Water Company Invested Capital
Tax Act, and | |||||||||||||||||||
22 | amounts payable to the Department of Revenue under the
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23 | Telecommunications Infrastructure Maintenance Fee Act.
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1 | As soon as may be after the end of each month, the | ||||||
2 | Department of Revenue
shall certify to the Treasurer and the | ||||||
3 | Comptroller the amount of all refunds
paid out of the General | ||||||
4 | Revenue Fund through the preceding month on account
of | ||||||
5 | overpayment of liability on taxes paid into the Personal | ||||||
6 | Property Tax
Replacement Fund. Upon receipt of such | ||||||
7 | certification, the Treasurer and
the Comptroller shall | ||||||
8 | transfer the amount so certified from the Personal
Property Tax | ||||||
9 | Replacement Fund into the General Revenue Fund.
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10 | The payments of revenue into the Personal Property Tax | ||||||
11 | Replacement Fund
shall be used exclusively for distribution to | ||||||
12 | taxing districts, regional offices and officials for fiscal | ||||||
13 | year 2012, and local officials as provided
in this Section and | ||||||
14 | in the School Code, payment of the ordinary and contingent | ||||||
15 | expenses of the Property Tax Appeal Board, payment of the | ||||||
16 | expenses of the Department of Revenue incurred
in administering | ||||||
17 | the collection and distribution of monies paid into the
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18 | Personal Property Tax Replacement Fund and transfers due to | ||||||
19 | refunds to
taxpayers for overpayment of liability for taxes | ||||||
20 | paid into the Personal
Property Tax Replacement Fund.
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21 | As soon as may be after the effective date of this | ||||||
22 | amendatory Act of 1980,
the Department of Revenue shall certify | ||||||
23 | to the Treasurer the amount of net
replacement revenue paid | ||||||
24 | into the General Revenue Fund prior to that effective
date from | ||||||
25 | the additional tax imposed by Section 2a.1 of the Messages Tax
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26 | Act; Section 2a.1 of the Gas Revenue Tax Act; Section 2a.1 of |
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1 | the Public
Utilities Revenue Act; Section 3 of the Water | ||||||
2 | Company Invested Capital Tax Act;
amounts collected by the | ||||||
3 | Department of Revenue under the Telecommunications | ||||||
4 | Infrastructure Maintenance Fee Act; and the
additional | ||||||
5 | personal
property tax replacement income tax imposed by
the | ||||||
6 | Illinois Income Tax Act, as amended by Public
Act 81-1st | ||||||
7 | Special Session-1. Net replacement revenue shall be defined as
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8 | the total amount paid into and remaining in the General Revenue | ||||||
9 | Fund as a
result of those Acts minus the amount outstanding and | ||||||
10 | obligated from the
General Revenue Fund in state vouchers or | ||||||
11 | warrants prior to the effective
date of this amendatory Act of | ||||||
12 | 1980 as refunds to taxpayers for overpayment
of liability under | ||||||
13 | those Acts.
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14 | All interest earned by monies accumulated in the Personal | ||||||
15 | Property
Tax Replacement Fund shall be deposited in such Fund. | ||||||
16 | All amounts allocated
pursuant to this Section are appropriated | ||||||
17 | on a continuing basis.
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18 | Prior to December 31, 1980, as soon as may be after the end | ||||||
19 | of each quarter
beginning with the quarter ending December 31, | ||||||
20 | 1979, and on and after
December 31, 1980, as soon as may be | ||||||
21 | after January 1, March 1, April 1, May
1, July 1, August 1, | ||||||
22 | October 1 and December 1 of each year, the Department
of | ||||||
23 | Revenue shall allocate to each taxing district as defined in | ||||||
24 | Section 1-150
of the Property Tax Code, in accordance with
the | ||||||
25 | provisions of paragraph (2) of this Section the portion of the | ||||||
26 | funds held
in the Personal Property Tax Replacement Fund which |
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1 | is required to be
distributed, as provided in paragraph (1), | ||||||
2 | for each quarter. Provided,
however, under no circumstances | ||||||
3 | shall any taxing district during each of the
first two years of | ||||||
4 | distribution of the taxes imposed by this amendatory Act of
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5 | 1979 be entitled to an annual allocation which is less than the | ||||||
6 | funds such
taxing district collected from the 1978 personal | ||||||
7 | property tax. Provided further
that under no circumstances | ||||||
8 | shall any taxing district during the third year of
distribution | ||||||
9 | of the taxes imposed by this amendatory Act of 1979 receive | ||||||
10 | less
than 60% of the funds such taxing district collected from | ||||||
11 | the 1978 personal
property tax. In the event that the total of | ||||||
12 | the allocations made as above
provided for all taxing | ||||||
13 | districts, during either of such 3 years, exceeds the
amount | ||||||
14 | available for distribution the allocation of each taxing | ||||||
15 | district shall
be proportionately reduced. Except as provided | ||||||
16 | in Section 13 of this Act, the
Department shall then certify, | ||||||
17 | pursuant to appropriation, such allocations to
the State | ||||||
18 | Comptroller who shall pay over to the several taxing districts | ||||||
19 | the
respective amounts allocated to them.
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20 | Any township which receives an allocation based in whole or | ||||||
21 | in part upon
personal property taxes which it levied pursuant | ||||||
22 | to Section 6-507 or 6-512
of the Illinois Highway Code and | ||||||
23 | which was previously
required to be paid
over to a municipality | ||||||
24 | shall immediately pay over to that municipality a
proportionate | ||||||
25 | share of the personal property replacement funds which such
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26 | township receives.
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1 | Any municipality or township, other than a municipality | ||||||
2 | with a population
in excess of 500,000, which receives an | ||||||
3 | allocation based in whole or in
part on personal property taxes | ||||||
4 | which it levied pursuant to Sections 3-1,
3-4 and 3-6 of the | ||||||
5 | Illinois Local Library Act and which was
previously
required to | ||||||
6 | be paid over to a public library shall immediately pay over
to | ||||||
7 | that library a proportionate share of the personal property tax | ||||||
8 | replacement
funds which such municipality or township | ||||||
9 | receives; provided that if such
a public library has converted | ||||||
10 | to a library organized under The Illinois
Public Library | ||||||
11 | District Act, regardless of whether such conversion has
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12 | occurred on, after or before January 1, 1988, such | ||||||
13 | proportionate share
shall be immediately paid over to the | ||||||
14 | library district which maintains and
operates the library. | ||||||
15 | However, any library that has converted prior to January
1, | ||||||
16 | 1988, and which hitherto has not received the personal property | ||||||
17 | tax
replacement funds, shall receive such funds commencing on | ||||||
18 | January 1, 1988.
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19 | Any township which receives an allocation based in whole or | ||||||
20 | in part on
personal property taxes which it levied pursuant to | ||||||
21 | Section 1c of the Public
Graveyards Act and which taxes were | ||||||
22 | previously required to be paid
over to or used for such public | ||||||
23 | cemetery or cemeteries shall immediately
pay over to or use for | ||||||
24 | such public cemetery or cemeteries a proportionate
share of the | ||||||
25 | personal property tax replacement funds which the township
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26 | receives.
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1 | Any taxing district which receives an allocation based in | ||||||
2 | whole or in
part upon personal property taxes which it levied | ||||||
3 | for another
governmental body or school district in Cook County | ||||||
4 | in 1976 or for
another governmental body or school district in | ||||||
5 | the remainder of the
State in 1977 shall immediately pay over | ||||||
6 | to that governmental body or
school district the amount of | ||||||
7 | personal property replacement funds which
such governmental | ||||||
8 | body or school district would receive directly under
the | ||||||
9 | provisions of paragraph (2) of this Section, had it levied its | ||||||
10 | own
taxes.
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11 | (1) The portion of the Personal Property Tax | ||||||
12 | Replacement Fund required to
be
distributed as of the time | ||||||
13 | allocation is required to be made shall be the
amount | ||||||
14 | available in such Fund as of the time allocation is | ||||||
15 | required to be made.
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16 | The amount available for distribution shall be the | ||||||
17 | total amount in the
fund at such time minus the necessary | ||||||
18 | administrative and other authorized expenses as limited
by | ||||||
19 | the appropriation and the amount determined by: (a) $2.8 | ||||||
20 | million for
fiscal year 1981; (b) for fiscal year 1982, | ||||||
21 | .54% of the funds distributed
from the fund during the | ||||||
22 | preceding fiscal year; (c) for fiscal year 1983
through | ||||||
23 | fiscal year 1988, .54% of the funds distributed from the | ||||||
24 | fund during
the preceding fiscal year less .02% of such | ||||||
25 | fund for fiscal year 1983 and
less .02% of such funds for | ||||||
26 | each fiscal year thereafter; (d) for fiscal
year 1989 |
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1 | through fiscal year 2011 no more than 105% of the actual | ||||||
2 | administrative expenses
of the prior fiscal year; (e) for | ||||||
3 | fiscal year 2012 and beyond, a sufficient amount to pay (i) | ||||||
4 | stipends, additional compensation, salary reimbursements, | ||||||
5 | and other amounts directed to be paid out of this Fund for | ||||||
6 | local officials as authorized or required by statute and | ||||||
7 | (ii) no more than 105% of the actual administrative | ||||||
8 | expenses of the prior fiscal year, including payment of the | ||||||
9 | ordinary and contingent expenses of the Property Tax Appeal | ||||||
10 | Board and payment of the expenses of the Department of | ||||||
11 | Revenue incurred in administering the collection and | ||||||
12 | distribution of moneys paid into the Fund; or (f) for | ||||||
13 | fiscal year 2012 only, a sufficient amount to pay stipends, | ||||||
14 | additional compensation, salary reimbursements, and other | ||||||
15 | amounts directed to be paid out of this Fund for regional | ||||||
16 | offices and officials as authorized or required by statute. | ||||||
17 | Such portion of the fund shall be determined after
the | ||||||
18 | transfer into the General Revenue Fund due to refunds, if | ||||||
19 | any, paid
from the General Revenue Fund during the | ||||||
20 | preceding quarter. If at any time,
for any reason, there is | ||||||
21 | insufficient amount in the Personal Property
Tax | ||||||
22 | Replacement Fund for payments for regional offices and | ||||||
23 | officials or local officials or payment of costs of | ||||||
24 | administration or for transfers
due to refunds at the end | ||||||
25 | of any particular month, the amount of such
insufficiency | ||||||
26 | shall be carried over for the purposes of payments for |
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1 | regional offices and officials, local officials, transfers | ||||||
2 | into the
General Revenue Fund, and costs of administration | ||||||
3 | to the
following month or months. Net replacement revenue | ||||||
4 | held, and defined above,
shall be transferred by the | ||||||
5 | Treasurer and Comptroller to the Personal Property
Tax | ||||||
6 | Replacement Fund within 10 days of such certification.
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7 | (2) Each quarterly allocation shall first be | ||||||
8 | apportioned in the
following manner: 51.65% for taxing | ||||||
9 | districts in Cook County and 48.35%
for taxing districts in | ||||||
10 | the remainder of the State.
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11 | The Personal Property Replacement Ratio of each taxing | ||||||
12 | district
outside Cook County shall be the ratio which the Tax | ||||||
13 | Base of that taxing
district bears to the Downstate Tax Base. | ||||||
14 | The Tax Base of each taxing
district outside of Cook County is | ||||||
15 | the personal property tax collections
for that taxing district | ||||||
16 | for the 1977 tax year. The Downstate Tax Base
is the personal | ||||||
17 | property tax collections for all taxing districts in the
State | ||||||
18 | outside of Cook County for the 1977 tax year. The Department of
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19 | Revenue shall have authority to review for accuracy and | ||||||
20 | completeness the
personal property tax collections for each | ||||||
21 | taxing district outside Cook
County for the 1977 tax year.
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22 | The Personal Property Replacement Ratio of each Cook County | ||||||
23 | taxing
district shall be the ratio which the Tax Base of that | ||||||
24 | taxing district
bears to the Cook County Tax Base. The Tax Base | ||||||
25 | of each Cook County
taxing district is the personal property | ||||||
26 | tax collections for that taxing
district for the 1976 tax year. |
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1 | The Cook County Tax Base is the
personal property tax | ||||||
2 | collections for all taxing districts in Cook
County for the | ||||||
3 | 1976 tax year. The Department of Revenue shall have
authority | ||||||
4 | to review for accuracy and completeness the personal property | ||||||
5 | tax
collections for each taxing district within Cook County for | ||||||
6 | the 1976 tax year.
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7 | For all purposes of this Section 12, amounts paid to a | ||||||
8 | taxing district
for such tax years as may be applicable by a | ||||||
9 | foreign corporation under the
provisions of Section 7-202 of | ||||||
10 | the Public Utilities Act, as amended,
shall be deemed to be | ||||||
11 | personal property taxes collected by such taxing district
for | ||||||
12 | such tax years as may be applicable. The Director shall | ||||||
13 | determine from the
Illinois Commerce Commission, for any tax | ||||||
14 | year as may be applicable, the
amounts so paid by any such | ||||||
15 | foreign corporation to any and all taxing
districts. The | ||||||
16 | Illinois Commerce Commission shall furnish such information to
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17 | the Director. For all purposes of this Section 12, the Director | ||||||
18 | shall deem such
amounts to be collected personal property taxes | ||||||
19 | of each such taxing district
for the applicable tax year or | ||||||
20 | years.
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21 | Taxing districts located both in Cook County and in one or | ||||||
22 | more other
counties shall receive both a Cook County allocation | ||||||
23 | and a Downstate
allocation determined in the same way as all | ||||||
24 | other taxing districts.
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25 | If any taxing district in existence on July 1, 1979 ceases | ||||||
26 | to exist,
or discontinues its operations, its Tax Base shall |
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1 | thereafter be deemed
to be zero. If the powers, duties and | ||||||
2 | obligations of the discontinued
taxing district are assumed by | ||||||
3 | another taxing district, the Tax Base of
the discontinued | ||||||
4 | taxing district shall be added to the Tax Base of the
taxing | ||||||
5 | district assuming such powers, duties and obligations.
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6 | If two or more taxing districts in existence on July 1, | ||||||
7 | 1979, or a
successor or successors thereto shall consolidate | ||||||
8 | into one taxing
district, the Tax Base of such consolidated | ||||||
9 | taxing district shall be the
sum of the Tax Bases of each of | ||||||
10 | the taxing districts which have consolidated.
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11 | If a single taxing district in existence on July 1, 1979, | ||||||
12 | or a
successor or successors thereto shall be divided into two | ||||||
13 | or more
separate taxing districts, the tax base of the taxing | ||||||
14 | district so
divided shall be allocated to each of the resulting | ||||||
15 | taxing districts in
proportion to the then current equalized | ||||||
16 | assessed value of each resulting
taxing district.
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17 | If a portion of the territory of a taxing district is | ||||||
18 | disconnected
and annexed to another taxing district of the same | ||||||
19 | type, the Tax Base of
the taxing district from which | ||||||
20 | disconnection was made shall be reduced
in proportion to the | ||||||
21 | then current equalized assessed value of the disconnected
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22 | territory as compared with the then current equalized assessed | ||||||
23 | value within the
entire territory of the taxing district prior | ||||||
24 | to disconnection, and the
amount of such reduction shall be | ||||||
25 | added to the Tax Base of the taxing
district to which | ||||||
26 | annexation is made.
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1 | If a community college district is created after July 1, | ||||||
2 | 1979,
beginning on the effective date of this amendatory Act of | ||||||
3 | 1995, its Tax Base
shall be 3.5% of the sum of the personal | ||||||
4 | property tax collected for the
1977 tax year within the | ||||||
5 | territorial jurisdiction of the district.
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6 | The amounts allocated and paid to taxing districts pursuant | ||||||
7 | to
the provisions of this amendatory Act of 1979 shall be | ||||||
8 | deemed to be
substitute revenues for the revenues derived from | ||||||
9 | taxes imposed on
personal property pursuant to the provisions | ||||||
10 | of the "Revenue Act of
1939" or "An Act for the assessment and | ||||||
11 | taxation of private car line
companies", approved July 22, | ||||||
12 | 1943, as amended, or Section 414 of the
Illinois Insurance | ||||||
13 | Code, prior to the abolition of such taxes and shall
be used | ||||||
14 | for the same purposes as the revenues derived from ad valorem
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15 | taxes on real estate.
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16 | Monies received by any taxing districts from the Personal | ||||||
17 | Property
Tax Replacement Fund shall be first applied toward | ||||||
18 | payment of the proportionate
amount of debt service which was | ||||||
19 | previously levied and collected from
extensions against | ||||||
20 | personal property on bonds outstanding as of December 31,
1978 | ||||||
21 | and next applied toward payment of the proportionate share of | ||||||
22 | the pension
or retirement obligations of the taxing district | ||||||
23 | which were previously levied
and collected from extensions | ||||||
24 | against personal property. For each such
outstanding bond | ||||||
25 | issue, the County Clerk shall determine the percentage of the
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26 | debt service which was collected from extensions against real |
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1 | estate in the
taxing district for 1978 taxes payable in 1979, | ||||||
2 | as related to the total amount
of such levies and collections | ||||||
3 | from extensions against both real and personal
property. For | ||||||
4 | 1979 and subsequent years' taxes, the County Clerk shall levy
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5 | and extend taxes against the real estate of each taxing | ||||||
6 | district which will
yield the said percentage or percentages of | ||||||
7 | the debt service on such
outstanding bonds. The balance of the | ||||||
8 | amount necessary to fully pay such debt
service shall | ||||||
9 | constitute a first and prior lien upon the monies
received by | ||||||
10 | each such taxing district through the Personal Property Tax
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11 | Replacement Fund and shall be first applied or set aside for | ||||||
12 | such purpose.
In counties having fewer than 3,000,000 | ||||||
13 | inhabitants, the amendments to
this paragraph as made by this | ||||||
14 | amendatory Act of 1980 shall be first
applicable to 1980 taxes | ||||||
15 | to be collected in 1981.
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16 | (Source: P.A. 96-45, eff. 7-15-09; 97-72, eff. 7-1-11; 97-619, | ||||||
17 | eff. 11-14-11.)
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