SB2480 95TH GENERAL ASSEMBLY

LRB095 17403 HLH 43475 b

95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
SB2480

Introduced 2/15/2008, by Sen. John J. Cullerton

SYNOPSIS AS INTRODUCED:

70 ILCS 5/2a.1

from Ch. 15 1/2, par. 68.2a1

Amends the Airport Authorities Act. Makes a technical change in a Section concerning the petition to set forth a tax rate.

A BILL FOR

AN ACT concerning local government.

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

Section 5. The Airport Authorities Act is amended by changing Section 2a.1 as follows:

(70 ILCS 5/2a.1) (from Ch. 15 1/2, par. 68.2a1)

Sec. 2a.1. Petition-Setting forth tax rate. The The petition may, in addition to the matters required to be set forth in Section 2.1, also set forth a tax rate, not to exceed the rate specified in Section 13, as the maximum tax rate for the proposed Authority. In such case, such proposed maximum tax rate shall be included in the proposition submitted as provided in Section 2.3, and, in the event the Authority is established, the aggregate amount of its taxes for any one year, exclusive of the amount levied for bonded indebtedness or interest thereon, shall not exceed such maximum tax rate, unless an increase in such maximum rate is authorized by vote of the electors within the Authority as provided in Section 13.1.

(Source: Laws 1963, p. 1837.)