(55 ILCS 5/5-1028.1) (from Ch. 34, par. 5-1028.1)
Sec. 5-1028.1.
Distribution of tax receipts balance.
Any unobligated
balance remaining in the County
Retailers' Occupation Tax Fund on December 31, 1989, which fund was
abolished by Public Act 85-1135, and all receipts of county tax as a result
of audits of liability periods prior to January 1, 1990, shall be paid into
the Local Government Tax Fund, for distribution in the manner provided by
Sections 25.05-2, 25.05-2a, 25.05-3, 25.05-3a, 25.05-10 and 25.05-10a of
"An Act to revise the law in relation to counties", approved March 31,
1874, prior to the enactment of Public Act 85-1135. All receipts of
county tax as a result of an assessment not arising from an audit, for
liability periods prior to January 1, 1990, shall be paid into the Local
Government Tax Fund for distribution before July 1, 1990, in the manner
provided by Sections 25.05-2, 25.05-2a, 25-.05-3, 25.05-3a, 25.05-10 and
25.05-10a of
"An Act to revise the law in relation to counties", approved March 31,
1874, prior to the enactment of Public Act 85-1135, and
on and after July 1, 1990, 20% of such receipts shall be transferred into
the County and Mass Transit District Fund and 80% shall be transferred into
the Local Government Tax Fund, for distribution as provided in Sections
6z-17 and 6z-18 of "An Act in relation to State finance", approved June 10,
1919, as amended.
(Source: P.A. 86-1028.)
|