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| | 98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014
HB1054 Introduced , by Rep. Dr. Pam Roth SYNOPSIS AS INTRODUCED:
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| New Act | | 35 ILCS 200/18-199 new | |
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Creates the City of Braidwood Tax Levy Validation (2013) Act. Validates levy ordinances and tax extensions to the extent they do not exceed the maximum amount authorized under the Property Tax Extension Limitation Law if the taxing district had taken into account the tax increment value from the expiration of City of Braidwood TIF Number 1. Amends the Property Tax Code to make the Property Tax Extension Limitation Law subject to the City of Braidwood Tax Levy Validation (2013) Act. 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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| | HB1054 | | LRB098 04291 HLH 34318 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 1. Short title. This Act may be cited as the City |
| 5 | | of Braidwood Tax Levy Validation (2013) Act.
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| 6 | | Section 5. Tax levy ordinances of taxing districts located |
| 7 | | in the City of Braidwood. If any taxing district located in |
| 8 | | whole or in part within the City of Braidwood has, during the |
| 9 | | fiscal year 2012-2013, within the time required by law adopted |
| 10 | | an annual appropriation ordinance for that year and adopted its |
| 11 | | annual tax levy ordinance for the tax year 2012 and duly files |
| 12 | | the same with the county clerk of the county in which the |
| 13 | | district is located, then any such tax levy ordinance and the |
| 14 | | taxes levied and extended pursuant thereto are hereby |
| 15 | | validated; however, those taxes are validated only to the |
| 16 | | extent they do not exceed the maximum amount the district could |
| 17 | | have levied and the county clerk could have extended under the |
| 18 | | Property Tax Extension Limitation Law of the Property Tax Code |
| 19 | | if the district had taken into account the recovered tax |
| 20 | | increment value from the expiration of the City of Braidwood |
| 21 | | Tax Increment Financing District Number 1 in its 2011 tax year |
| 22 | | levy and subsequent tax year levies as was permitted by law.
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