Illinois General Assembly - Illinois Compiled Statutes

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65 ILCS 95/4

(65 ILCS 95/4) (from Ch. 24, par. 1604)

Sec. 4. Creation of Commission.

(a) Whenever in a municipality with
more than 1,000,000 inhabitants, the question of creating a home equity
program within a contiguous territory included entirely within
the municipality is initiated by resolution or ordinance
of the corporate authorities of the municipality or by a petition
signed by not less than 10% of the total number of registered voters of
each precinct in the territory, the registered voters of
which are eligible to sign the petition, it shall be
the duty of the election authority having jurisdiction over such
municipality to submit the question of creating a home equity program to
the electors of each precinct within
the territory at the regular election specified in the resolution,
ordinance or petition initiating the question.  If the question is
initiated by petition and if the requisite number of signatures is not
obtained in any precinct included within the territory described in the
petition, then the petition shall be valid as to the territory encompassed by those
precincts for which the requisite number of signatures is obtained and any
such precinct for which the requisite number of signatures is not obtained
shall be excluded from the territory.  A petition initiating a
question described in this Section shall be filed with the election
authority having jurisdiction over the municipality.  The petition
shall be filed and objections thereto shall be made in the manner provided
in the general election law.  A resolution, ordinance, or petition
initiating a question described in this Section shall specify the election
at which the question is to be submitted.  The referendum on such question
shall be held in accordance with general election law.  Such
question, and the resolution, ordinance, or petition initiating the
question, shall include a description of the territory, the name of the
proposed home equity program, and the maximum rate at which the home
equity program shall be able to levy a property tax.  All
of that area within the geographic boundaries of the territory described in
such question shall be included in the program, and no area outside the
geographic boundaries of the territory described in such question shall be
included in the program.  If the election authority determines that the
description cannot be included within the space limitations of the ballot,
the election authority shall prepare large printed copies of a notice of
the question, which shall be prominently displayed in the polling place of
each precinct in which the question is to be submitted.

(b) Whenever a majority of the voters on such public question approve the
creation of a home equity program as certified by the proper election
authorities, the mayor of the municipality shall appoint, with the consent
of the corporate authorities, 9 individuals, to be known as commissioners,
to serve as the governing body of the home equity program.  The mayor
shall choose 7 of the 9 individuals to be appointed to the governing
commission from nominees submitted by a community organization or community
organizations as defined in this Act.  A community organization may
recommend up to 20 individuals to serve on a governing commission. Beginning after the effective date of this amendatory Act of the 100th General Assembly, a home equity commission shall consist of 7 commissioners; however, the 9 commissioners serving on a governing commission on the effective date of this amendatory Act of the 100th General Assembly shall be allowed to finish their current terms of service. Thereafter, the number of commissioners shall be reduced to 7.

No fewer than 5 commissioners serving at any one time shall reside
within the territory of the program. Beginning after the effective date of this amendatory Act of the 100th General Assembly, and upon the number of commissioners being reduced to 7, no fewer than 4 commissioners serving at any one time shall reside within the territory of the program.

Upon the initial appointment of 7 commissioners to a governing commission under the provisions of this amendatory Act of the 100th General Assembly, the terms of the initial
commissioners shall be as follows: one shall serve
for one year, 3 shall serve for 2 years, and 3 shall serve for 3
years and until a successor is appointed and qualified.  All
succeeding terms shall be for 3 years, or until a successor is appointed
or qualified.
Commissioners shall serve without compensation except for reimbursement for
reasonable expenses incurred in the performance of duties as a
commissioner.  A vacancy in the office of a member of a commission shall be
filled in like manner as an original appointment.

All proceedings and meetings of the governing commission shall be
conducted in accordance with the provisions of the Open Meetings Act,
as now or hereafter amended.

(Source: P.A. 100-107, eff. 1-1-18.)