State of Illinois
92nd General Assembly
Legislation

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92_HB0914ham005

 










                                           LRB9202962SMdvam03

 1                     AMENDMENT TO HOUSE BILL 914

 2        AMENDMENT NO.     .  Amend House Bill  914  on  page  17,
 3    line 33, before "(i)", by inserting the following:
 4    "excluded  non-referendum bonds.  For park districts (i) that
 5    were first subject to this Law in 1991 or 1995 and (ii) whose
 6    extension for the 1994 levy year for the payment of principal
 7    and interest on bonds issued by  the  park  district  without
 8    referendum  (but not including excluded non-referendum bonds)
 9    was less than 51% of  the  amount  for  the  1991  levy  year
10    constituting  an  extension  for  payment  of  principal  and
11    interest  on  bonds  issued  by  the  park  district  without
12    referendum (but not including excluded non-referendum bonds),
13    "debt  service  extension base" means an amount equal to that
14    portion of the extension for the 1991 levy year  constituting
15    an  extension  for payment of principal and interest on bonds
16    issued by the  park  district  without  referendum  (but  not
17    including  excluded  non-referendum bonds).  The debt service
18    extension base may be established or  increased  as  provided
19    under Section 18-212. "Excluded non-referendum bonds" means";
20    and

21    on page 18, by replacing lines 5 and 6 with the following:
22    "pursuant to referendum.  The debt service extension base may
23    be   established  or  increased  as  provided  under  Section
 
                            -2-            LRB9202962SMdvam03
 1    18-212."; and

 2    on page 25, by replacing lines 5 and 6 with the following:
 3        "Section 99.  Effective date.  This Section, Sections  5,
 4    15,  20,  and  25,  and  the  changes  to  the  definition of
 5    "aggregate extension" and the addition of the  definition  of
 6    "public   building  commission  lease  rental  base"  in  the
 7    Property Tax Extension Limitation Law  in  the  Property  Tax
 8    Code take effect upon becoming law.".

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