093_SB0196eng

 
SB196 Engrossed                      LRB093 04310 SJM 04357 b

 1        AN ACT in relation to taxes.

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

 4        Section 5.  The Park District Code is amended by changing
 5    Section 5-1 as follows:

 6        (70 ILCS 1205/5-1) (from Ch. 105, par. 5-1)
 7        Sec. 5-1. Each Park District has the power  to  levy  and
 8    collect taxes on all the taxable property in the district for
 9    all  corporate  purposes.  The  commissioners  may accumulate
10    funds for the purposes of building repairs  and  improvements
11    and  may  annually  levy taxes for such purposes in excess of
12    current requirements for its other purposes  but  subject  to
13    the tax rate limitation as herein provided.
14        All general taxes proposed by the board to be levied upon
15    the  taxable  property within the district shall be levied by
16    ordinance. A certified copy of such levy ordinance  shall  be
17    filed  with  the county clerk of the county in which the same
18    is to be  collected  not  later  than  the  last  Tuesday  in
19    December  in  each  year.  The county clerk shall extend such
20    tax; provided, the aggregate amount of taxes levied  for  any
21    one  year,  exclusive of the amount levied for the payment of
22    the principal and interest  on  bonded  indebtedness  of  the
23    district and taxes authorized by special referenda, shall not
24    exceed,  except  as  otherwise  provided in this Section, the
25    rate of .10%, or the rate limitation in  effect  on  July  1,
26    1967,  whichever  is  greater,  of the value, as equalized or
27    assessed by the Department of Revenue.
28        Notwithstanding any other provision of this  Section,  in
29    counties  with  a  population  greater than 3,000,000, a park
30    district board of a park district  lying  wholly  within  one
31    county is authorized to increase taxes under this Section for
 
SB196 Engrossed             -2-      LRB093 04310 SJM 04357 b
 1    corporate  purposes  for any one year so long as the increase
 2    is offset by a like tax rate reduction in one or more  funds.
 3    At  the  time that such park district files its levy with the
 4    county clerk, it shall also certify to the county clerk  that
 5    the  park district has complied with and is authorized to act
 6    under this Section 5-1 of  the  Park  District  Code.  In  no
 7    instance  shall  the increase exceed the extension limitation
 8    to which any park district is subject under Section 18-195 of
 9    the Property Tax Code.
10        Any funds on hand at the end of the fiscal year that  are
11    not  pledged for or allocated to a particular purpose may, by
12    action of the board of commissioners,  be  transferred  to  a
13    capital  improvement  fund  and  accumulated therein, but the
14    total amount accumulated in the fund may not exceed  1.5%  of
15    the  aggregate  assessed valuation of all taxable property in
16    the park district.
17        The foregoing limitations upon tax rates may be increased
18    or decreased under the referendum provisions of  the  General
19    Revenue Law of the State of Illinois.
20    (Source: P.A. 91-294, eff. 7-29-99.)

21        Section  99.  Effective date.  This Act takes effect upon
22    becoming law.