Record #: O2013-9148   
Type: Ordinance Status: Failed to Pass
Intro date: 11/20/2013 Current Controlling Legislative Body: Committee on Finance
Final action: 5/20/2015
Title: Amendment of Municipal Code Chapter 2-154 regarding corporate tax disclosures
Sponsors: Burns, William D., Dowell, Pat, Hairston, Leslie A., Sawyer, Roderick T., Holmes, Natashia, Foulkes, Toni, Munoz, Ricardo, Mell, Deborah, Smith, Michele, Cappleman, James, Pawar, Ameya, Osterman, Harry, Moore, Joseph
Topic: MUNICIPAL CODE AMENDMENTS - Title 2 - City Government & Administration - Ch. 154 Disclosure of Ownership Interest in Entities
Attachments: 1. O2013-9148.pdf
Related files: R2015-407
City Council November 20, 2013

Corporate Tax Disclosure Ordinance


Section 1. Section 2-154-010 of the Municipal Code of Chicago is hereby amended by inserting the language underscored as follows:

2-154-010 Actions requiring city approval - Disclosure information required when.
[a) Whenever any corporation; partnership; association; business trust; estate;
two or more persons having a joint or common interest; other commercial or legal
entity; trustee of a land trust; or any beneficiary or beneficiaries thereof [for
purposes of this section, collectively "applicant") makes application to the City of
Chicago for action requiring an ordinance, or ordinance amendment, city council
approval, or other city agency approval (for purposes of this section, collectively
"city action"), with respect to sale or purchase of real estate, real property tax
reclassification, zoning, vacation of streets and alleys, leases, and contracts, and/or
receiving financial assistance from The City of Chicago, or entering into a contract
with the City of Chicago the following disclosures and information shall be certified
and attached to the application:
The name, address and percentage of ownership interest of each individual or entity having a beneficial interest of more than 7.5 percent in the applicant (for purposes of this section, "owner"). Any owner required by law to file a statement providing substantially the information required by this paragraph with any other government agency may file a duplicate of such statement;
Whenever any interest required to be disclosed in paragraph (1) is held by an agent or agents, or a nominee or nominees, the principals for whom such agents or nominees hold such interest shall also be disclosed. The application of a spouse or any other party, if constructively controlled by another person, or legal entity as set forth above, shall state the name and address and percentage of beneficial in...

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