90th General Assembly
Summary of HB1310
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House Sponsors:

Short description: 
MUNI CD-POOL-ICE RINK-BONDS                                                

Synopsis of Bill as introduced:
        Amends the Illinois Municipal Code.  Provides that the notes  and      
   bonds  issued  for  purposes  involving natatoriums or swimming pools,      
   indoor or outdoor tennis  courts,  handball,  racquetball,  or  squash      
   courts,  artificial  ice  skating  rinks,  golf  courses, or any other      
   recreational facility by a municipality,  and  the  income  therefrom,      
   shall  be  free  from  all  taxation  by  the  State  or its political      
   subdivisions except  for  estate,  transfer,  and  inheritance  taxes.      
   Effective immediately.                                                      
        HOUSE AMENDMENT NO. 1.                                                 
        Limits the exemption from taxation for bonds and notes  to  those      
   bonds  and  notes  issued  by a municipality with a population of less      
   than 7,500.                                                                 
Last action on Bill: SESSION SINE DIE

   Last action date: 99-01-12

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   1     SENATE -   0


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