Illinois General Assembly - Full Text of SB0186
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Full Text of SB0186  95th General Assembly



SB0186 Enrolled LRB095 04880 HLH 24944 b

1     AN ACT concerning local government.
2     Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4     Section 5. The Public Library District Act of 1991 is
5 amended by changing Sections 30-95 and 30-100 as follows:
6     (75 ILCS 16/30-95)
7     Sec. 30-95. Working cash fund.
8     (a) A board may, by ordinance, create and maintain a
9 working cash fund, for the sole purpose of enabling the
10 district to have in its funds, at all times, sufficient money
11 to meet demands for ordinary and necessary and committed
12 expenditures for library purposes.
13     (b) The working cash fund shall be known as the public
14 library district working cash fund and may contain any amount
15 deemed necessary by the board to satisfy the purpose of the
16 fund. The balance in the fund shall not, however, at any time
17 be allowed to exceed 0.2% of the full, fair cash value of all
18 taxable property within the district, as equalized or assessed
19 by the Department of Revenue for the year 1998 for the year the
20 fund was established or, if established after January 1, 1979,
21 then for the year 1978. The money for the fund shall accrue
22 from the public library district working cash fund tax the
23 board is authorized to levy under Section 35-35. The board may



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1 appropriate moneys to the working cash fund up to the maximum
2 amount allowable in the fund, and the working cash fund may
3 receive those appropriations and any other contributions.
4     (c) Once the fund has been created, the proceeds shall be
5 deposited into a special and separate fund and may be carried
6 over from year to year without in any manner reducing or
7 abating a future annual library tax levy. The fund shall be
8 identified in the budget each year, but shall not be deemed a
9 current asset available for library purposes.
10     (d) The proceeds of the fund may be transferred from the
11 working cash fund to the general library fund and disbursed
12 from the general library fund in anticipation of the collection
13 of taxes lawfully levied for general library purposes or in
14 anticipation of taxes imposed before or after the effective
15 date of this Act by the General Assembly of the State of
16 Illinois to replace revenue lost by units of local government
17 and school districts as a result of the abolition of ad valorem
18 personal property taxes pursuant to Article IX, Section 5,
19 subsection (c), of the Illinois Constitution. These taxes, when
20 collected and after payment of tax warrants, shall be drawn
21 upon to reimburse the working cash fund.
22     (e) Temporarily idle moneys in the working cash fund may be
23 invested as directed by the governing board of the library
24 district, and the interest earned on the investments may, at
25 the option of the board, be either transferred permanently to
26 the general corporate fund or may remain in the working cash



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1 fund. If the interest remains in the working cash fund, it may
2 serve to increase the balance of the working cash fund
3 available for loans, but in no event may the balance of that
4 fund be allowed to exceed the statutory maximum for the fund
5 established in this Section.
6 (Source: P.A. 87-1277.)
7     (75 ILCS 16/30-100)
8     Sec. 30-100. Abolition of working cash fund. The board may,
9 by resolution, abolish a working cash fund established under
10 Section 30-95 and direct the transfer of any balance in the
11 fund, including any interest that has accrued, to the general
12 library fund at the close of the fiscal year. If the board
13 abolishes a working cash fund under this Section, it may be
14 reestablished in the same manner as the fund was originally
15 created under Section 35-35 of this Act however, it shall not
16 establish another working cash fund, unless establishment of
17 the fund is approved by a majority of the voters of the
18 district voting on the question at a referendum.
19 (Source: P.A. 87-1277.)
20     Section 99. Effective date. This Act takes effect upon
21 becoming law.