HB5762 95TH GENERAL ASSEMBLY

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95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
HB5762

Introduced , by Rep. Jack D. Franks

SYNOPSIS AS INTRODUCED:

35 ILCS 200/18-80

Amends the Truth in Taxation Law in the Property Tax Code. Requires that the cost of legal services to be incurred with respect to conducting referenda and to issuing bonded debt must be disclosed in notices and at hearings. Deletes a provision that any notice that includes any nonspecified information is invalid.

FISCAL NOTE ACT MAY APPLY

A BILL FOR

AN ACT concerning revenue.

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

Section 5. The Property Tax Code is amended by changing Section 18-80 as follows:

(35 ILCS 200/18-80)

Sec. 18-80. Time and form of notice. The notice shall appear not more than 14 days nor less than 7 days prior to the date of the public hearing. The notice shall be no less than 1/8 page in size, and the smallest type used shall be 12 point and shall be enclosed in a black border no less than 1/4 inch wide. The notice shall not be placed in that portion of the newspaper where legal notices and classified advertisements appear. The notice shall be published in substantially the following form:

Notice of Proposed Property Tax Increase for ... (commonly known name of taxing district).

I. A public hearing to approve a proposed property tax levy increase for ... (legal name of the taxing district)... for ... (year) ... will be held on ... (date) ... at ... (time) ... at ... (location).

Any person desiring to appear at the public hearing and present testimony to the taxing district may contact ... (name, title, address and telephone number of an appropriate official).

II. The corporate and special purpose property taxes extended or abated for ... (preceding year) ... were ... (dollar amount of the final aggregate levy as extended, plus the amount abated by the taxing district prior to extension).

The proposed corporate and special purpose property taxes to be levied for ... (current year) ... are ... (dollar amount of the proposed aggregate levy). This represents a ... (percentage) ... increase over the previous year.

III. The property taxes extended for debt service and public building commission leases for ... (preceding year) ... were ... (dollar amount).

The estimated property taxes to be levied for debt service and public building commission leases for ... (current year) ... are ... (dollar amount). This represents a ... (percentage increase or decrease) ... over the previous year.

The estimated cost of attorneys' services in connection with issuing bonded debt to be repaid with property tax revenue is $...(if applicable). The estimated costs of attorneys' services in connection with the debt service (repayment of bonds with property tax revenue) is approximately $... .

IV. The total property taxes extended or abated for ... (preceding year) ... were ... (dollar amount).

The estimated total property taxes to be levied for ... (current year) ... are ... (dollar amount). This represents a ... (percentage increase or decrease) ... over the previous year.

Each Any notice must include at least the which includes any information not specified and required by this Article shall be an invalid notice.

All hearings shall be open to the public. The corporate authority of the taxing district shall explain:

(1) the reasons for the proposed increase;

(2) all costs expected to be incurred by the taxing district in connection with procuring legal services for conducting any referenda seeking authorization for an increase in any tax; and

(3) all costs to be incurred by the taxing district in connection with any legal services associated with the issuance of bonded debt. The corporate authority of the taxing district shall permit persons desiring to be heard an opportunity to present testimony within reasonable time limits as it determines.

(Source: P.A. 92-382, eff. 8-16-01.)