[ Search ] [ Legislation ]
[ Home ] [ Back ] [ Bottom ]
| [ Introduced ] | [ Enrolled ] | [ House Amendment 001 ] |
91_HB0843eng HB0843 Engrossed LRB9102030MWcs 1 AN ACT to amend the Park District Code by changing 2 Section 5-1. 3 Be it enacted by the People of the State of Illinois, 4 represented in the General Assembly: 5 Section 5. The Park District Code is amended by changing 6 Section 5-1 as follows: 7 (70 ILCS 1205/5-1) (from Ch. 105, par. 5-1) 8 Sec. 5-1. Each Park District has the power to levy and 9 collect taxes on all the taxable property in the district for 10 all corporate purposes. The commissioners may accumulate 11 funds for the purposes of building repairs and improvements 12 and may annually levy taxes for such purposes in excess of 13 current requirements for its other purposes but subject to 14 the tax rate limitation as herein provided. 15 All general taxes proposed by the board to be levied upon 16 the taxable property within the district shall be levied by 17 ordinance. A certified copy of such levy ordinance shall be 18 filed with the county clerk of the county in which the same 19 is to be collected not later than the last Tuesday in 20 December in each year. The county clerk shall extend such 21 tax; provided, the aggregate amount of taxes levied for any 22 one year, exclusive of the amount levied for the payment of 23 the principal and interest on bonded indebtedness of the 24 district and taxes authorized by special referenda shall not 25 exceed the rate of .10%, or the rate limitation in effect on 26 July 1, 1967, whichever is greater, of the value, as 27 equalized or assessed by the Department of Revenue. 28 Any funds on hand at the end of the fiscal year that are 29 not pledged for or allocated to a particular purpose may, by 30 action of the board of commissioners, be transferred to a 31 capital improvement fund and accumulated therein, but the HB0843 Engrossed -2- LRB9102030MWcs 1 total amount accumulated in the fund may not exceed 1.5% of 2 the aggregate assessed valuation of all taxable property in 3 the park district. 4 The foregoing limitations upon tax rates may be increased 5 or decreased under the referendum provisions of the General 6 Revenue Law of the State of Illinois. 7 (Source: P.A. 86-346; 87-17.) 8 Section 99. Effective date. This Act takes effect upon 9 becoming law.