Full Text of SB0186 95th General Assembly
SB0186enr 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 |
|
|
|
SB0186 Enrolled |
- 2 - |
LRB095 04880 HLH 24944 b |
|
| 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 |
|
|
|
SB0186 Enrolled |
- 3 - |
LRB095 04880 HLH 24944 b |
|
| 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.
|
|