093_SB0196ren

 
SB196 Re-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  property  taxes  under
31    this  Section for corporate purposes for any one year so long
 
SB196 Re-enrolled             -2-    LRB093 04310 SJM 04357 b
 1    as the increase  is  offset  by  a  like  property  tax  levy
 2    reduction in one or more of the park district's funds. At the
 3    time  that  such park district files its levy with the county
 4    clerk, it shall also certify to the  county  clerk  that  the
 5    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  either  exceed or result in a
 8    reduction to the  extension  limitation  to  which  any  park
 9    district  is subject under Section 18-195 of the Property Tax
10    Code.
11        Any funds on hand at the end of the fiscal year that  are
12    not  pledged for or allocated to a particular purpose may, by
13    action of the board of commissioners,  be  transferred  to  a
14    capital  improvement  fund  and  accumulated therein, but the
15    total amount accumulated in the fund may not exceed  1.5%  of
16    the  aggregate  assessed valuation of all taxable property in
17    the park district.
18        The foregoing limitations upon tax rates may be increased
19    or decreased under the referendum provisions of  the  General
20    Revenue Law of the State of Illinois.
21    (Source: P.A. 91-294, eff. 7-29-99.)

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