99TH GENERAL ASSEMBLY
State of Illinois
2015 and 2016
SB0087
 
Introduced 1/28/2015, by Sen. Pamela J. Althoff
 
SYNOPSIS AS INTRODUCED:
 

 
  
55 ILCS 5/6-1002.5

     Amends the Counties Code.  Provides that a county may accumulate an amount not to exceed 3% of the equalized assessed value of property subject to taxation by the county (rather than 5% of the amount appropriated to the county's general corporate or operating fund) in their County Capital Improvement, Repair, or Replacement Fund.
  


LRB099 03642 AWJ 23650 b

 
 
A BILL FOR
 

  
SB0087LRB099 03642 AWJ 23650 b


  
1    AN ACT concerning local government.
  
 
2    Be it enacted by the People of the State of Illinois,
 
3represented in the General Assembly:
  
 
 
4    Section 5. The Counties Code is amended  by changing Section 
56-1002.5 as follows:
 



6    (55 ILCS 5/6-1002.5)



7    Sec. 6-1002.5. Capital Improvement, Repair, or Replacement 
8Fund. 

9    (a) In the preparation of the its annual budget, an amount 
10not to exceed 3% of the equalized assessed value of property 
11subject to taxation by the county may be accumulated in a 
12separate fund a county may appropriate an amount not to exceed

135% of the amount appropriated to the county's general corporate 
14or operating
fund,
for the purpose of making specified capital 
15improvements, repairs,
or replacements with respect to real 
16property or equipment or other tangible
personal property of 
17the county.  Any amount so accumulated appropriated shall be 
18deposited
into a special fund to be known as the County Capital 
19Improvement, Repair, or
Replacement Fund ("the Fund").  
20Expenditures from the Fund shall be budgeted in
the fiscal year 
21in which the capital improvement, repair, or replacement
will 
22occur.

23    (b) Moneys shall be transferred from the Fund into the 
 
 
SB0087- 2 -LRB099 03642 AWJ 23650 b

1county's general
corporate or operating fund as follows:


2        (1) When a capital improvement, repair, or replacement 
3    project is
completed, or when such a project is abandoned, 
4    and the county board determines
that there remain in the 
5    Fund unspent moneys that were budgeted for the
project, 
6    those unspent moneys shall be transferred.


7        (2) When the county board determines that surplus 
8    moneys, not needed for
any capital improvement, repair, or 
9    replacement project for which the Fund was
established, 
10    remain in the Fund, those surplus moneys shall be 
11    transferred.

12    Moneys transferred to the county's general corporate or 
13operating fund under
this
subsection shall be transferred on 
14the first day of the fiscal year following
the fiscal year in

15which the unspent or surplus moneys were determined to
exist.

16(Source: P.A. 94-644, eff. 8-22-05.)