Illinois General Assembly - Illinois Compiled Statutes

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70 ILCS 410/13

(70 ILCS 410/13) (from Ch. 96 1/2, par. 7114)

Sec. 13.

The fiscal year of each district shall commence April 1 and
extend through the following March 31.

The board shall, within the first quarter of each fiscal year,
adopt a combined annual budget and appropriation
ordinance as provided in the Illinois Municipal Budget Law.
In a district located entirely within a county with a population of less than 750,000 that is contiguous to a county with a population of more than
2,000,000, the district's combined annual budget and appropriation ordinance
shall not be considered to be adopted until it is also adopted by resolution of
the county
board of the county in which the district is located.

Except as otherwise provided in this Act, a district may annually
levy taxes upon all the taxable property therein at the value thereof,
as equalized or assessed by the Department of Revenue, to be extended at
not more than the rates and for the purposes specified hereinafter:

(1) 0.025% for the general purposes of the district,

including acquisition and development of real property which may be in excess of current requirements and allowed to accumulate from year to year, and for any purposes specified by the district; however, no tax may be extended at a rate that will result in accumulation of any amount representing more than 0.075% of the equalized assessed valuation of the district.

(2) 0.075% for acquisition of real property, which

may be in excess of current requirements and allowed to accumulate from year to year, and for any purposes specified by the district; however, no tax may be extended at a rate that will result in accumulation of any amount representing more than 0.25% of the equalized assessed valuation of the district.

(3) 0.1%, in lieu of the two rates specified in (1)

and (2) above, for the general purposes of the district, including the acquisition, development, operation and maintenance of real property which may be in excess of current requirements and allowed to accumulate from year to year, and for any purposes specified by the district; however, no tax may be extended at a rate that will result in accumulation of any amount representing more than 0.325% of the equalized assessed valuation of the district.

Except as provided in some other Act, a district may not levy annual
taxes, for all its purposes in the aggregate, in excess of 0.1% of the
value, as equalized or assessed by the Department of Revenue, of the
taxable property therein.

After the adoption of the combined budget and appropriation ordinance
and within the second quarter of each fiscal year, the board shall ascertain
the total amount of the appropriations legally made which are to be
provided for 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 not to exceed the total amount so ascertained upon all the
property subject to taxation within the district as the same is assessed
and equalized for state and county purposes for the current year. A
certified copy of such ordinance shall be filed on or before the first
Tuesday in October with the clerk of each county wherein the district or
any part thereof is located.

(Source: P.A. 94-617, eff. 8-18-05.)