SB2087sam004 94TH GENERAL ASSEMBLY

Sen. Kimberly A. Lightford

Filed: 3/15/2005

 

 


 

 


 
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1
AMENDMENT TO SENATE BILL 2087

2     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)
8     (Section scheduled to be repealed on January 1, 2010)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.
20 (Source: P.A. 93-948, eff. 8-19-04.)
 
21     (20 ILCS 3901/17 new)
22     Sec. 17. Borrowing money and issuance of bonds.
23     (a) The Commission may incur debt and borrow money from

 

 

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1 time to time and, in evidence thereof, may issue and sell bonds
2 in an amount sufficient to provide funds for carrying out the
3 purposes of this Act, to pay all costs and expenses incident to
4 issuing the bonds, and to refund and refinance, from time to
5 time, bonds so issued and sold.
6     (b) Before issuing any bonds under this Section, the
7 Commission shall adopt a resolution calling for the submission
8 of the question of issuing the bonds and imposing a tax
9 sufficient for payment of the interest on the bonds as it falls
10 due and to pay the bonds as they mature to the voters of that
11 part of the territory of the Commission that is within the
12 Addison Creek floodplain in accordance with the general
13 election law. The question must be in substantially the
14 following form:
15         Shall the Commission issue bonds in an amount not to
16     exceed (insert amount) and levy a tax at a rate not to
17     exceed (insert rate) of the equalized assessed value of all
18     taxable property located within that part of the territory
19     of the Commission that is within the Addison Creek
20     floodplain for the payment of the interest on the bonds as
21     it falls due and to pay the bonds as they mature?
22     The ballot must have printed on it, but not as part of the
23 proposition submitted, the following: "The approximate impact
24 of the proposed tax rate on the owner of a single family home
25 having a market value of (insert value) would be (insert
26 amount) in the first year of the tax if the tax is fully
27 implemented." No other information needs to be included on the
28 ballot.
29     The votes must be recorded as "Yes" or "No".
30     If a majority of the electors voting on the question vote
31 in the affirmative, the Commission may thereafter issue the
32 bonds and levy the tax.
33     (c) The total amount levied and extended under this Section
34 and Section 20, in the aggregate, in any single taxable year,

 

 

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1 shall not exceed $10,000,000.
 
2     (20 ILCS 3901/20)
3     (Section scheduled to be repealed on January 1, 2010)
4     Sec. 20. Taxing powers.
5     (a) After the first Monday in October and by the first
6 Monday in December in each year, the Commission shall levy the
7 general taxes for the Commission by general categories for the
8 next fiscal year. A certified copy of the levy ordinance shall
9 be filed with the county clerk of each county in which the that
10 part of the territory of the Commission that is within the
11 Addison Creek floodplain is located by the last Tuesday in
12 December each year.
13     (b) The amount of taxes levied for general corporate
14 purposes for a fiscal year may not exceed the rate of .01% of
15 the value, as equalized or assessed by the Department of
16 Revenue, of the taxable property located within that part of
17 the territory of the Commission that is within the Addison
18 Creek floodplain, provided that the total amount levied and
19 extended under this Section and Section 17, in the aggregate,
20 in any single taxable year, shall not exceed $10,000,000.
21     (c) This tax and tax rate are exclusive of the taxes
22 required for the payment of the principal of and interest on
23 bonds.
24     (d) The rate of the tax levied for general corporate
25 purposes of the Commission may be initially imposed or
26 thereafter increased, up to the maximum rate identified in
27 subsection (b), by the Commission by a resolution calling for
28 the submission of the question of imposing or increasing the
29 rate to the voters of that part of the territory of the
30 Commission that is within the Addison Creek floodplain in
31 accordance with the general election law. The question must be
32 in substantially the following form:
33         Shall the Commission be authorized to establish its

 

 

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1     general corporate tax rate at (insert rate) on the
2     equalized assessed value on all taxable property located
3     within that part of the territory of the Commission that is
4     within the Addison Creek floodplain 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.
21 The Commission shall not have the power to levy real property
22 taxes for any purpose whatsoever.
23 (Source: P.A. 93-948, eff. 8-19-04.)
 
24     Section 99. Effective date. This Act takes effect on July
25 1, 2005.".