(65 ILCS 5/Art. 11 Div. 120 heading) DIVISION 120.
TRANSPORTATION SYSTEM TAX
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(65 ILCS 5/11-120-1) (from Ch. 24, par. 11-120-1)
Sec. 11-120-1.
The corporate authorities of any city, village or incorporated town
may levy, annually, a tax of not to exceed .03% of the value, as
equalized or assessed by the Department of Revenue, on
all taxable property therein, to provide revenue for the purpose of
operating, maintaining and improving any local transportation system
owned and operated by such city, village or incorporated town. This tax
shall be in addition to all taxes authorized by law to be levied and
collected in the municipality and shall be in addition to the amount
authorized to be levied for general purposes as provided by Section
8-3-1.
(Source: P.A. 81-1509.)
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(65 ILCS 5/11-120-2) (from Ch. 24, par. 11-120-2)
Sec. 11-120-2.
This Division 120 shall not be in force in any city,
village or incorporated town until the question of its adoption is
certified by the clerk and submitted to the electors of the city, village
or incorporated town and
approved by a majority of those voting on the question.
The question shall be in substantially the
following form:
Shall Division 120 of the Illinois Municipal Code permitting YES municipalities to levy an additional annual tax of not to exceed .03%
for the purpose of operating, maintaining and improving local NO transportation systems be adopted?
If a majority of the votes cast on the question is in favor of
adopting this Division 120, such division shall be adopted. It shall be
in force in the adopting city, village or incorporated town for the
purpose of the fiscal years succeeding the year in which the election is
held.
(Source: P.A. 81-1489 .)
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