Public Act 93-0625

SB196 Re-enrolled                    LRB093 04310 SJM 04357 b

    AN ACT in relation to taxes.

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

    Section 5.  The Park District Code is amended by changing
Section 5-1 as follows:

    (70 ILCS 1205/5-1) (from Ch. 105, par. 5-1)
    Sec.  5-1.  Each  Park District has the power to levy and
collect taxes on all the taxable property in the district for
all corporate  purposes.  The  commissioners  may  accumulate
funds  for  the purposes of building repairs and improvements
and may annually levy taxes for such purposes  in  excess  of
current  requirements  for  its other purposes but subject to
the tax rate limitation as herein provided.
    All general taxes proposed by the board to be levied upon
the taxable property within the district shall be  levied  by
ordinance.  A  certified copy of such levy ordinance shall be
filed with the county clerk of the county in which  the  same
is  to  be  collected  not  later  than  the  last Tuesday in
December in each year. The county  clerk  shall  extend  such
tax;  provided,  the aggregate amount of taxes levied for any
one year, exclusive of the amount levied for the  payment  of
the  principal  and  interest  on  bonded indebtedness of the
district and taxes authorized by special referenda, shall not
exceed, except as otherwise provided  in  this  Section,  the
rate  of  .10%,  or  the rate limitation in effect on July 1,
1967, whichever is greater, of the  value,  as  equalized  or
assessed by the Department of Revenue.
    Notwithstanding  any  other  provision of this Section, a
park district board of a park district  lying  wholly  within
one  county  is  authorized  to increase property taxes under
this Section for corporate purposes for any one year so  long
as  the  increase  is  offset  by  a  like  property tax levy
reduction in one or more of the park district's funds. At the
time that such park district files its levy with  the  county
clerk,  it  shall  also  certify to the county clerk that the
park district has complied with  and  is  authorized  to  act
under  this  Section  5-1  of  the  Park District Code. In no
instance shall the increase either  exceed  or  result  in  a
reduction  to  the  extension  limitation  to  which any park
district is subject under Section 18-195 of the Property  Tax
Code.
    Any  funds on hand at the end of the fiscal year that are
not pledged for or allocated to a particular purpose may,  by
action  of  the  board  of commissioners, be transferred to a
capital improvement fund and  accumulated  therein,  but  the
total  amount  accumulated in the fund may not exceed 1.5% of
the aggregate assessed valuation of all taxable  property  in
the park district.
    The foregoing limitations upon tax rates may be increased
or  decreased  under the referendum provisions of the General
Revenue Law of the State of Illinois.
(Source: P.A. 91-294, eff. 7-29-99.)

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