Illinois General Assembly - Full Text of Public Act 095-0659
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Public Act 095-0659




Public Act 095-0659
SB0186 Enrolled LRB095 04880 HLH 24944 b

    AN ACT concerning local government.
    Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
    Section 5. The Public Library District Act of 1991 is
amended by changing Sections 30-95 and 30-100 as follows:
    (75 ILCS 16/30-95)
    Sec. 30-95. Working cash fund.
    (a) A board may, by ordinance, create and maintain a
working cash fund, for the sole purpose of enabling the
district to have in its funds, at all times, sufficient money
to meet demands for ordinary and necessary and committed
expenditures for library purposes.
    (b) The working cash fund shall be known as the public
library district working cash fund and may contain any amount
deemed necessary by the board to satisfy the purpose of the
fund. The balance in the fund shall not, however, at any time
be allowed to exceed 0.2% of the full, fair cash value of all
taxable property within the district, as equalized or assessed
by the Department of Revenue for the year 1998 for the year the
fund was established or, if established after January 1, 1979,
then for the year 1978. The money for the fund shall accrue
from the public library district working cash fund tax the
board is authorized to levy under Section 35-35. The board may
appropriate moneys to the working cash fund up to the maximum
amount allowable in the fund, and the working cash fund may
receive those appropriations and any other contributions.
    (c) Once the fund has been created, the proceeds shall be
deposited into a special and separate fund and may be carried
over from year to year without in any manner reducing or
abating a future annual library tax levy. The fund shall be
identified in the budget each year, but shall not be deemed a
current asset available for library purposes.
    (d) The proceeds of the fund may be transferred from the
working cash fund to the general library fund and disbursed
from the general library fund in anticipation of the collection
of taxes lawfully levied for general library purposes or in
anticipation of taxes imposed before or after the effective
date of this Act by the General Assembly of the State of
Illinois to replace revenue lost by units of local government
and school districts as a result of the abolition of ad valorem
personal property taxes pursuant to Article IX, Section 5,
subsection (c), of the Illinois Constitution. These taxes, when
collected and after payment of tax warrants, shall be drawn
upon to reimburse the working cash fund.
    (e) Temporarily idle moneys in the working cash fund may be
invested as directed by the governing board of the library
district, and the interest earned on the investments may, at
the option of the board, be either transferred permanently to
the general corporate fund or may remain in the working cash
fund. If the interest remains in the working cash fund, it may
serve to increase the balance of the working cash fund
available for loans, but in no event may the balance of that
fund be allowed to exceed the statutory maximum for the fund
established in this Section.
(Source: P.A. 87-1277.)
    (75 ILCS 16/30-100)
    Sec. 30-100. Abolition of working cash fund. The board may,
by resolution, abolish a working cash fund established under
Section 30-95 and direct the transfer of any balance in the
fund, including any interest that has accrued, to the general
library fund at the close of the fiscal year. If the board
abolishes a working cash fund under this Section, it may be
reestablished in the same manner as the fund was originally
created under Section 35-35 of this Act however, it shall not
establish another working cash fund, unless establishment of
the fund is approved by a majority of the voters of the
district voting on the question at a referendum.
(Source: P.A. 87-1277.)
    Section 99. Effective date. This Act takes effect upon
becoming law.

Effective Date: 10/11/2007