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92_SB1650enr SB1650 Enrolled SRS92SB0057NCap 1 AN ACT in relation to taxes. 2 Be it enacted by the People of the State of Illinois, 3 represented in the General Assembly: 4 ARTICLE 5 5 Section 5-1. Short title. This Article may be cited as 6 the Municipal Validation Law of 2002. 7 Section 5-5. Redevelopment actions; validation. All 8 actions taken before the effective date of this Law by any 9 municipality pursuant to the Tax Increment Allocation 10 Redevelopment Act for purposes of approving a redevelopment 11 plan and redevelopment project, designating a redevelopment 12 project area, and adopting tax increment allocation financing 13 are validated, ratified, and confirmed as valid actions in 14 full force and effect as of the date of adoption of the 15 ordinance of the municipality approving the redevelopment 16 plan and project, notwithstanding that an ordinance 17 designating the redevelopment project area was not adopted on 18 that date and an ordinance adopting tax increment allocation 19 financing was not adopted on that date, provided that, no 20 later than 180 days after the effective date of this Law, the 21 governing body of the municipality adopts an ordinance 22 designating the redevelopment project area and an ordinance 23 adopting tax increment allocation financing for the 24 redevelopment project area. 25 Section 5-10. Election validation. All actions taken 26 before the effective date of this Law with respect to a 27 public question authorizing the issuance of general 28 obligation bonds of a municipality that was submitted to and 29 approved by the electors of that municipality at the general SB1650 Enrolled -2- SRS92SB0057NCap 1 primary election held on March 19, 2002 and all bonds issued 2 or to be issued by that municipality pursuant to that 3 approval are ratified, validated, and confirmed as lawful 4 actions to authorize the issuance of those bonds and any such 5 bonds shall be lawful, valid, and binding general obligations 6 of that municipality, notwithstanding that the notice of 7 election and the form of public question approved by the 8 electors at that election did not conform to the requirements 9 of applicable law, provided that the notice of election and 10 the public question did set forth the principal amount of the 11 bonds and the capital improvements to be financed by the 12 bonds and that no bond issued by virtue of the approval of 13 the public question shall bear interest at a rate exceeding 14 7% per annum. 15 ARTICLE 10 16 Section 10-1. Short title. This Article may be cited as 17 the Maywood Public Library District Tax Levy Validation 18 (2002) Law. 19 Section 10-5. Tax levy ordinances of the Maywood Public 20 Library District. If the Maywood Public Library District has, 21 during the fiscal years 2001 and 2002, within the time 22 required by law adopted annual appropriation ordinances for 23 those years but failed to adopt its annual tax levy ordinance 24 for the tax year 2001 (collectible in 2002), but adopts its 25 2001 tax levy or a supplemental or deficiency 2001 tax levy, 26 or both, by the last Tuesday of December 2002, and duly files 27 the same with the county clerk of the county in which the 28 district is located, then any such tax levy ordinances and 29 supplemental or deficiency tax levy ordinance and the taxes 30 assessed, levied, and extended thereon are hereby validated 31 notwithstanding any failure to comply with the Truth in SB1650 Enrolled -3- SRS92SB0057NCap 1 Taxation Law or the Cook County Truth in Taxation Law and 2 further notwithstanding any failure to comply with the 3 provisions of the Property Tax Extension Limitation Law or 4 any other law. No 2001 tax levy or supplemental or deficiency 5 levy, however, is validated to the extent it would have 6 exceeded the maximum amount the district could have levied 7 under the Property Tax Extension Limitation Law if the tax 8 levy ordinance or supplemental or deficiency levy ordinance 9 had been adopted and filed in due time in calendar year 2001. 10 Any such tax levy or supplemental or deficiency levy shall be 11 extended by the county clerk of the county in which the 12 public library district is located by adding the amount of 13 the 2001 tax levy or supplemental or deficiency levy to the 14 district's validly enacted 2002 tax levy, regardless of 15 whether that 2001 tax levy is in the form of a customary 16 annual tax levy or in the form of a supplemental or 17 deficiency tax levy. Moreover, if the district has received 18 any tax revenue for the calendar year 2001 intended for the 19 payment of principal and interest on outstanding bonds of the 20 district and the district has used any portion or all of that 21 tax revenue for normal operating expenses, that use of those 22 funds is hereby validated if the district issues either tax 23 anticipation warrants or notes to provide funds sufficient to 24 replace that bond revenue used for operating expenses prior 25 to default on any bond payments; further, the use of the 26 proceeds of the issuance of those notes or warrants to make 27 the bond payments when due is further hereby validated. 28 Section 10-905. The Property Tax Code is amended by 29 adding Sections 18-92, 18-101.47, and 18-197 as follows: 30 (35 ILCS 200/18-92 new) 31 Sec. 18-92. Maywood Public Library District Tax Levy 32 Validation (2002) Law. The provisions of the Truth in SB1650 Enrolled -4- SRS92SB0057NCap 1 Taxation Law are subject to the Maywood Public Library 2 District Tax Levy Validation (2002) Law. 3 (35 ILCS 200/18-101.47 new) 4 Sec. 18-101.47. Maywood Public Library District Tax Levy 5 Validation (2002) Law. The provisions of the Cook County 6 Truth in Taxation Law are subject to the Maywood Public 7 Library District Tax Levy Validation (2002) Law. 8 (35 ILCS 200/18-197 new) 9 Sec. 18-197. Maywood Public Library District Tax Levy 10 Validation (2002) Law. The provisions of the Property Tax 11 Extension Limitation Law are subject to the Maywood Public 12 Library District Tax Levy Validation (2002) Law. 13 ARTICLE 99 14 Section 99-99. Effective date. This Act takes effect 15 upon becoming law.