093_SB0196enr

 
SB196 Enrolled                       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,  a
29    park  district  board  of a park district lying wholly within
30    one county is authorized to increase taxes under this Section
31    for corporate purposes for  any  one  year  so  long  as  the
 
SB196 Enrolled             -2-       LRB093 04310 SJM 04357 b
 1    increase  is  offset  by  a like tax rate reduction in one or
 2    more funds. At the time that such  park  district  files  its
 3    levy  with  the  county  clerk,  it shall also certify to the
 4    county clerk that the park district has complied with and  is
 5    authorized to act under this Section 5-1 of the Park District
 6    Code.  In no instance shall the increase exceed the extension
 7    limitation to  which  any  park  district  is  subject  under
 8    Section 18-195 of the Property Tax Code.
 9        Any  funds on hand at the end of the fiscal year that are
10    not pledged for or allocated to a particular purpose may,  by
11    action  of  the  board  of commissioners, be transferred to a
12    capital improvement fund and  accumulated  therein,  but  the
13    total  amount  accumulated in the fund may not exceed 1.5% of
14    the aggregate assessed valuation of all taxable  property  in
15    the park district.
16        The foregoing limitations upon tax rates may be increased
17    or  decreased  under the referendum provisions of the General
18    Revenue Law of the State of Illinois.
19    (Source: P.A. 91-294, eff. 7-29-99.)

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