99TH GENERAL ASSEMBLY
State of Illinois
2015 and 2016
HB1384

 

Introduced , by Rep. Sara Feigenholtz

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 200/27-92 new

    Amends the Property Tax Code. Provides that, if there is excess money remaining in a special service area fund at the end of a fiscal year, then the corporate authorities may use that excess money to provide special services within the special service area in the next fiscal year, provided that the total amount used may not exceed 25% of the previous fiscal year's budget for the special service area. Effective immediately.


LRB099 04279 HLH 27519 b

FISCAL NOTE ACT MAY APPLY
HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB1384LRB099 04279 HLH 27519 b

1    AN ACT concerning revenue.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Property Tax Code is amended by adding
5Section 27-92 as follows:
 
6    (35 ILCS 200/27-92 new)
7    Sec. 27-92. Special service area moneys used in the next
8fiscal year. Notwithstanding any other provision of law, if
9there is excess money remaining in a special service area fund
10at the end of a fiscal year, then the corporate authorities may
11use that excess money to provide special services within the
12special service area in the next fiscal year, provided that the
13total amount used may not exceed 25% of the previous fiscal
14year's budget for the special service area.
 
15    Section 99. Effective date. This Act takes effect upon
16becoming law.