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FOR IMMEDIATE RELEASE
January 22, 2004

Governor Signs Bills Into Law
Thursday, January 22, 2004

SPRINGFIELD – Governor Rod R. Blagojevich today signed into law 3 bills.
 
Bill No.:  HB 940                       
An Act Concerning:  Public Works                      
Description:  Creates the Public Works Contract Change Order Act.  Provides that if a change order in any public works contract entered into by a unit of local government or a school district authorizes or necessitates any increase in the contract price that is 50% or more of the original contract price, then the portion of the contract that is covered by the change order must be resubmitted for bidding in the same manner for which the original contract was bid.  Provides that bidding for the portion of the contract covered by the change order shall be subject to any requirements to employ females and minorities on the public works project that existed at the bidding for the original contract, together with any later requirements imposed by law.  Preempts home rule powers.  Amends the State Mandates Act to require implementation without reimbursement.
Action:  Approved                   
Effective Date:  June 1, 2004
 
Bill No.:  SB 1883            
An Act Concerning:  Real Estate            
Description:  Amends the Real Estate Transfer Tax Law in the Property Tax Code.  Provides that the tax is also imposed on the privilege of transferring a controlling interest in a real estate entity.  Imposes the tax whether or not a document is recorded.  Amends the Illinois Municipal Code and the Counties Code with respect to home rule real estate transfer faxes.  Provides that those taxes may be imposed or increased by referendum to the same extent as the State tax.  Amends the Stock, Commodity, or Options Transactions Tax Exemption Act.  Provides that nothing in the Act shall be construed to prohibit or otherwise invalidate any real estate transfer tax or fee authorized or permitted by law.  
Action:  Approved
Effective Date:  Effective Immediately  
 
Bill No.:  SB 1937                                 
An Act Concerning:  Taxes           
Description:  Amends the Motor Fuel Tax Law.  Makes a technical change in a section concerning the distribution and use of certain tax moneys under the act.  Amends the Property Tax Code to exempt the lessee of each parcel of real property in Will County owned by the State of Illinois for the purpose of developing an airport from the payment of leasehold taxes on that property.  Provides that, through December 31, 2010, the Department of Transportation shall pay to the Will County Treasurer, from the Tax Recover Fund (a new Fund created in the State Finance Act into which the State shall deposit all receipts from the lease of this property), on or before July 1 of each year, the amount of leasehold taxes for each exempt parcel to compensate taxing districts for the leasehold taxes that otherwise would have been collected.  Amends the State Finance Act to cerate the tax Recovery Fund. 
Action:  Approved
Effective Date:  Effective Immediately  
 
 


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