Title
Ordinance abating the tax heretofore levied for General County Purposes for the Tax Year 2025 and Collected in Fiscal Year (FY) 2026 to authorize a property tax abatement in support of the Illinois Department of Commerce and Economic Opportunity (DCEO) Energy Transition Community Grant Program in the amount of $587,516.86.
Staff Summary
* Lake County is one of several local government units (referred to as "Zion taxing Bodies" who are impacted by the closure of the Zion nuclear plant) that can take advantage of funding set aside by the Illinois General Assembly through the Energy Transition Community Grant Program.
* The grant is for an overall abatement to the full tax levy, benefiting all property taxpayers in the County, not limited to parcels in the City of Zion.
* The County is abating the full amount of its grant allocation of $587,516.86, which will reduce the tax amount owed by each taxpayer for Tax Year 2025 only (collected in FY 2026).
Body
AN ORDINANCE ABATING THE TAX HERETOFORE LEVIED FOR THE TAX YEAR 2025 AND COLLECTED IN FISCAL YEAR (FY) 2026 TO AUTHORIZE A PROPERTY TAX ABATEMENT IN SUPPORT OF THE ILLINOIS DEPARTMENT OF COMMERCE AND ECONOMIC OPPORTUNITY ENERGY TRANSITION COMMUNITY GRANT PROGRAM
WHEREAS, the Illinois General Assembly passed and signed into law Illinois Public Act 102-0662, creating the Climate and Equitable Jobs Act on September 15, 2021, establishing the Energy Transition Community Grant ("ETCG") program; and
WHEREAS, the Illinois Department of Commerce and Economic Opportunity ("DCEO") is administering the ETCG grant program pursuant to the directive of the Illinois General Assembly, which requires local taxing bodies within Lake County to provide a tax abatement equal to at least seventy-five percent (75%) of the awarded grant funds; and
WHEREAS, Lake County (the "County") is a unit of local government and a taxing body impacted by the closure of the Zion Nuclear plant and therefore authorized under 35 ILCS 200/18-16...
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