Bill Status of HB1037 98th General Assembly
Short Description: CNTY CD-FARMLAND PRESERVATION
Rep. Michael W. Tryon - Kelly M. Cassidy
| 12/3/2014||House||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Counties Code. Provides that Boone, DeKalb, DuPage, Grundy, Kane, Kankakee, Kendall, Lake, McHenry, and Will county may levy an annual tax for farmland preservation easement and green redevelopment purposes. Provides that the tax may not exceed 0.05% of the equalized assessed value of taxable property in the county. Provides that the tax must be approved by referendum and that it may be discontinued by referendum. Provides that a referendum to levy or discontinue the tax may be initiated by a petition signed by a number of electors equal to at least 0.5% of the total number of votes cast in the county during the last preceding gubernatorial election. Provides that the proceeds of the tax shall be paid into two separate funds, the county farmland preservation easement fund and the green redevelopment fund. Sets forth the ways in which the proceeds of the funds shall be used.