Public Act 103-0137
 
HB2033 EnrolledLRB103 04923 HLH 49933 b


  
    AN ACT concerning finance.
  
 
    Be it enacted by the People of the State of Illinois,
 
represented in the General Assembly:
  
 
 
    Section 5. The Local Government Debt Reform Act is amended  
by changing Section 16 as follows:
 



    (30 ILCS 350/16)  (from Ch. 17, par. 6916)



    Sec. 16. Levy for bonds.  
    (a) A governmental unit may levy a tax for the
payment of 
principal of and interest on general obligation bonds or 
limited
bonds at any
time prior to March 1 of the calendar year 
during which the tax will be
collected.  The county clerk shall 
accept the filing of
the ordinance
levying such tax 
notwithstanding that such time is subsequent to the end of
the 
calendar year next preceding the calendar year during which 
such tax
will be collected.  
    (b) The county clerk shall accept the electronic filing of 
any ordinance under subsection (a). If a governmental unit 
files an ordinance under subsection (a) electronically, then 
the governmental unit shall maintain an original signed copy 
of the ordinance as long as the general obligation bonds or 
limited bonds remain outstanding. 
    (c) In extending taxes for general obligation bonds, the

county clerk shall add to the levy for debt service on such 
bonds an amount
sufficient, in view of all losses and 
delinquencies in tax collection, to
produce tax receipts 
adequate for the prompt payment of such debt service.

(Source: P.A. 91-493, eff. 8-13-99.)

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