55 ILCS 5/5-31014

(55 ILCS 5/5-31014) (from Ch. 34, par. 5-31014)

Sec. 5-31014.

Finance.

The fiscal year of each museum
district shall commence July 1 and extend through the following June 30.

The board of each museum district shall, on or before the second
Tuesday in September of each year, adopt a combined annual budget and
appropriation ordinance as provided in The Illinois Municipal Budget Law.

Except as otherwise provided in this Division, a museum
district may annually levy taxes at the following rates and for the
following purposes upon the value of the taxable property within the museum
district as equalized or assessed by the Department of Revenue:

(a) .01% for the general purposes of the museum district,
including acquisition and development of real property which may be in excess
of current requirements and allowed to accumulate from year to year,
to not more than .05% of the equalized assessed value of property within
the museum district.

(b) .01% for acquisition of historic properties both real and personal
which may be in excess of current requirements and allowed to accumulate
from year to year, to not more than .10% of the equalized assessed value of
the property within the museum district.  However, this levy may be used
also for the development of real property and for the general purposes of
the museum district.

Unless otherwise provided by law, a museum district may
not levy annual taxes for all its purposes in the aggregate in excess of
.02% of the value, as equalized or assessed by the Department of Revenue,
of the taxable property therein.

After the adoption of the appropriation ordinance and on or before the
second Tuesday in September of each year, the board shall ascertain the
total amount of the appropriations which are to be provided
from tax levies for the current year.  Then, by an ordinance specifying
in detail the purposes for which such appropriations have been made and
the amounts appropriated for such purposes, the board shall levy
upon the taxable property within the museum district a tax the proceeds of
which shall not exceed the amount so ascertained.  A certified copy of such
ordinance shall be filed on or before the first Tuesday in October with the
clerk of each county within the museum district.

However, if the museum district has levied such tax at a rate lower
than the maximum rate set forth in this Section, the board of trustees may
increase the rate of the tax, but not exceeding such maximum rate, by following the
procedures set forth above in this Section and then by certifying the
proposition of such increase to the proper election officials for
submission to the voters of the museum district at a regular election in
accordance with the general election law.  The proposition shall be in
substantially the following form:

--------------------------------------------------------------
    Shall the maximum rate
of the tax levied by the County            YES
Historical Museum District
for the purposes provided by the       -----------------------
County Historical Museum District
Law be increased from .......              NO
to .......(not to exceed .02%)?
--------------------------------------------------------------

If a majority of all the votes cast upon the proposition are in favor
thereof, the board of trustees may levy the tax at a rate not to exceed the
rate set forth in this Section.

(Source: P.A. 86-962.)