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| | 99TH GENERAL ASSEMBLY
State of Illinois
2015 and 2016
HB1384 Introduced , by Rep. Sara Feigenholtz SYNOPSIS AS INTRODUCED:
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Amends the Property Tax Code. Provides that, if there is excess money remaining in a special service area fund at the end of a fiscal year, then the corporate authorities may use that excess money to provide special services within the special service area in the next fiscal year, provided that the total amount used may not exceed 25% of the previous fiscal year's budget for the special service area. Effective immediately.
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| | | FISCAL NOTE ACT MAY APPLY | | HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY |
| | A BILL FOR |
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| | HB1384 | | LRB099 04279 HLH 27519 b |
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| 1 | | AN ACT concerning revenue.
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| 2 | | Be it enacted by the People of the State of Illinois,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Property Tax Code is amended by adding |
| 5 | | Section 27-92 as follows:
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| 6 | | (35 ILCS 200/27-92 new) |
| 7 | | Sec. 27-92. Special service area moneys used in the next |
| 8 | | fiscal year. Notwithstanding any other provision of law, if |
| 9 | | there is excess money remaining in a special service area fund |
| 10 | | at the end of a fiscal year, then the corporate authorities may |
| 11 | | use that excess money to provide special services within the |
| 12 | | special service area in the next fiscal year, provided that the |
| 13 | | total amount used may not exceed 25% of the previous fiscal |
| 14 | | year's budget for the special service area.
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| 15 | | Section 99. Effective date. This Act takes effect upon |
| 16 | | becoming law.
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