Full Text of SB2087 94th General Assembly
SB2087sam001 94TH GENERAL ASSEMBLY
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Sen. Kimberly A. Lightford
Filed: 3/3/2005
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| AMENDMENT TO SENATE BILL 2087
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| AMENDMENT NO. ______. Amend Senate Bill 2087 by replacing | 3 |
| everything after the enacting clause with the following: | 4 |
| "Section 5. The Addison Creek Restoration Commission Act is | 5 |
| amended by changing Sections 15 and 20 and by adding Section 17 | 6 |
| as follows: | 7 |
| (20 ILCS 3901/15)
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| (Section scheduled to be repealed on January 1, 2010) | 9 |
| Sec. 15. Acceptance of grants , loans, advances, and | 10 |
| appropriations. The Commission may apply for and accept | 11 |
| grants ,loans, advances, and appropriations from the federal | 12 |
| government and from the State of Illinois or any agency or | 13 |
| instrumentality thereof to be used for the purposes of the | 14 |
| Commission and may enter into any agreement in relation to | 15 |
| these grants , loans, advances, and appropriations. The | 16 |
| Commission may also accept from the State, any State agency, | 17 |
| department, or commission, any unit of local government, any | 18 |
| railroad, school authority, or jointly therefrom, grants of | 19 |
| funds or services for any of the purposes of this Act.
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| (Source: P.A. 93-948, eff. 8-19-04.) | 21 |
| (20 ILCS 3901/17 new) | 22 |
| Sec. 17. Borrowing money and issuance of bonds. The | 23 |
| Commission may incur debt and borrow money from time to time |
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| and, in evidence thereof, may issue and sell bonds in such | 2 |
| amount or amounts as the Commission may determine to provide | 3 |
| funds for carrying out the purposes of this Act, to pay all | 4 |
| costs and expenses incident to issuing the bonds, and to refund | 5 |
| and refinance, from time to time, bonds so issued and sold, as | 6 |
| often as may be deemed to be advantageous by the Commission. | 7 |
| Before or at the time of issuing bonds, the Commission shall | 8 |
| provide by ordinance for the collection of an annual tax | 9 |
| sufficient to pay the interest on the bonds as it falls due and | 10 |
| to pay the bonds as they mature. The total amount levied and | 11 |
| extended under this Section, in the aggregate, in all taxable | 12 |
| years, shall not exceed $10,000,000. | 13 |
| (20 ILCS 3901/20)
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| (Section scheduled to be repealed on January 1, 2010) | 15 |
| Sec. 20. Taxing powers. | 16 |
| (a) After the first Monday in October and by the first | 17 |
| Monday in December in each year, the Commission shall levy the | 18 |
| general taxes for the Commission by general categories for the | 19 |
| next fiscal year. A certified copy of the levy ordinance shall | 20 |
| be filed with the county clerk of each county in which the | 21 |
| territory of the Commission is located by the last Tuesday in | 22 |
| December each year. | 23 |
| (b) The amount of taxes levied for general corporate | 24 |
| purposes for a fiscal year may not exceed the rate of .01% of | 25 |
| the value, as equalized or assessed by the Department of | 26 |
| Revenue, of the taxable property within the territory of the | 27 |
| Commission, provided that the total amount levied and extended | 28 |
| under this Section, in the aggregate, in all taxable years | 29 |
| combined shall not exceed $10,000,000. | 30 |
| (c) This tax and tax rate are exclusive of the taxes | 31 |
| required for the payment of the principal of and interest on | 32 |
| bonds. | 33 |
| (d) The rate of tax levied for general corporate purposes |
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| may not be initially imposed or thereafter increased unless the | 2 |
| board first adopts a resolution authorizing the initial | 3 |
| imposition of the tax rate or the increase and publishes notice | 4 |
| thereof in a newspaper having general circulation in the | 5 |
| territory of the Commission at least once not less than 45 days | 6 |
| prior to the effective date of the initial imposition of the | 7 |
| tax rate or the increase. The notice shall include a statement | 8 |
| of (1) the specific number of voters required to sign a | 9 |
| petition requesting that the question of the adoption of the | 10 |
| resolution be submitted to the electors of the territory of the | 11 |
| Commission; (2) the time in which the petition must be filed; | 12 |
| and (3) the date of the prospective referendum. The Commission | 13 |
| shall provide a petition form to any individual requesting one. | 14 |
| If, no later than 30 days after the publication of the notice, | 15 |
| petitions signed by voters of the territory of the Commission | 16 |
| equal to 10% or more of the registered voters of the | 17 |
| Commission, as determined by reference to the number of voters | 18 |
| registered at the next preceding general election, and residing | 19 |
| in the territory of the Commission are presented to the | 20 |
| Commission expressing opposition to the imposition of the tax | 21 |
| rate or the increase, the proposition must first be certified | 22 |
| by the Commission to the proper election officials, who shall | 23 |
| submit the proposition to the legal voters of the territory of | 24 |
| the Commission at an election in accordance with the general | 25 |
| election law and approved by a majority of those voting on the | 26 |
| proposition. | 27 |
| The rate of the tax levied for general corporate purposes | 28 |
| of the Commission may be initially imposed or thereafter | 29 |
| increased, up to the maximum rate identified in subsection (b), | 30 |
| by the Commission by a resolution calling for the submission of | 31 |
| the question of imposing or increasing the rate to the voters | 32 |
| of the territory of the Commission in accordance with the | 33 |
| general election law. The question must be in substantially the | 34 |
| following form: |
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| Shall the Commission be authorized to establish its | 2 |
| general corporate tax rate at (insert rate) on the | 3 |
| equalized assessed value on all taxable property located | 4 |
| within the territory of the Commission for its general | 5 |
| purposes? | 6 |
| The ballot must have printed on it, but not as part of the | 7 |
| proposition submitted, the following: "The approximate impact | 8 |
| of the proposed (tax rate or increase) on the owner of a single | 9 |
| family home having a market value of (insert value) would be | 10 |
| (insert amount) in the first year of the (tax rate or increase) | 11 |
| if the (tax rate or increase) is fully implemented." The ballot | 12 |
| may have printed on it, but not as part of the proposition, one | 13 |
| or both of the following: "The last tax rate extended for the | 14 |
| purposes of the Commission was (insert rate). The last rate | 15 |
| increase approved for the purposes of the Commission was in | 16 |
| (insert year)." No other information needs to be included on | 17 |
| the ballot. | 18 |
| The votes must be recorded as "Yes" or "No". | 19 |
| If a majority of the electors voting on the question vote | 20 |
| in the affirmative, the Commission may thereafter levy the tax.
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| The Commission shall not have the power to levy real property | 22 |
| taxes for any purpose whatsoever.
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| (Source: P.A. 93-948, eff. 8-19-04.)
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| Section 99. Effective date. This Act takes effect on July | 25 |
| 1, 2005.".
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