Public Act 095-0659
 		





SB0186 Enrolled
LRB095 04880 HLH 24944 b






    AN ACT concerning local government.

 
    Be it enacted by the People of the State of Illinois,
 
represented in the General Assembly:


 
    Section 5. The Public Library District Act of 1991 is 
amended  by changing Sections 30-95 and 30-100 as follows:
 



    (75 ILCS 16/30-95)



    Sec. 30-95. Working cash fund. 


    (a) A board may, by ordinance, create and maintain a

working cash fund, for the sole purpose of enabling the 
district to have
in its funds, at all times, sufficient money 
to meet demands for
ordinary and necessary and committed 
expenditures for library purposes.

    (b) The working cash fund shall be known as the public 
library district
working cash fund and may contain any amount 
deemed necessary by the
board to satisfy the purpose of the 
fund. The balance in
the fund shall not, however, at any time 
be allowed to exceed 0.2% of the full,
fair cash value of all 
taxable property within the district, as
equalized or assessed 
by the Department of Revenue for the year 1998
for
 the year the 
fund was established or, if established after January 1,
1979, 
then for the year 1978. The money for the fund shall accrue

from the public library district working cash fund tax the 
board is
authorized to levy under Section 35-35.
The board may 
appropriate
moneys to the working cash fund up to the maximum 
amount allowable in the
fund, and the working cash fund may 
receive those appropriations and any
other contributions. 

    (c) Once the fund has been created, the proceeds shall be 
deposited
into a
special and separate fund and may be carried 
over from year to year
without in any manner reducing or 
abating a future annual library tax
levy. The fund shall be 
identified in the budget each year, but shall not be
deemed a 
current asset available for library purposes.

    (d) The proceeds of the fund may be transferred from the 
working cash
fund to the general library fund and disbursed 
from the general
library fund in
anticipation of the collection 
of taxes lawfully levied for general
library purposes or in 
anticipation of taxes imposed before or after the effective

date of this Act by the General Assembly of the
State of 
Illinois to replace revenue lost by units of local government

and school districts as a result of the abolition of ad valorem 
personal
property taxes pursuant to Article IX, Section 5, 
subsection
(c), of the Illinois Constitution. These taxes, when

collected and after payment
of tax warrants, shall be drawn 
upon to reimburse the working cash fund.

    (e)  Temporarily idle moneys in the working cash fund may be 
invested as directed by the governing board of the library 
district, and the interest earned on the investments may, at 
the option of the board, be either transferred permanently to 
the general corporate fund or may remain in the working cash 
fund. If the interest remains in the working cash fund, it may 
serve to increase the balance of the working cash fund 
available for loans, but in no event may the balance of that 
fund be allowed to exceed the statutory maximum for the fund 
established in this Section.

(Source: P.A. 87-1277.)

 



    (75 ILCS 16/30-100)



    Sec. 30-100. Abolition of working cash fund. The board may, 
by resolution,
abolish a working cash fund
established under 
Section 30-95 and direct
the transfer of any balance
in the 
fund, including any interest that has accrued, to the general 
library
fund at the close of the fiscal year.  If the board 
abolishes a
working cash fund under this Section, it may be 
reestablished in the same manner as the fund was originally 
created  under Section 35-35 of this Act
however, it
shall not 
establish another working
cash fund, unless establishment of 
the fund is approved by a majority of
the voters of the 
district voting on the question at a referendum.

(Source: P.A. 87-1277.)

 

    Section 99. Effective date. This Act takes effect upon 
becoming law.