Illinois House Bill 933 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 28 2019 - 25% progression, died in committee
Action: 2019-03-29 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Counties Code, Illinois Local Library Act, Public Library District Act of 1991, and the Village Library Act. Provides that local libraries may not possess securities or financial assets in a fiscal year in excess of 200% of the total revenue (during the preceding fiscal year) of the local library. Provides that if a local library possesses securities or financial assets in excess of 200% of the total revenue, then it must reduce its property tax levy to ensure that the securities or financial assets plus revenue does not exceed 200% of the total revenue. Requires a voter referendum approving any capital improvement project that at least 50% of the projected cost of the project is to be paid for by the local library's securities or financial assets and it imposes additional operating costs on the local library. Requires a local library to disclose on its website its securities and financial assets when the local library's securities and financial assets are in excess of 50% of the total revenue of the local library. Defines terms. Amends the State Library Act. Requires the State Librarian to adopt rules governing when and how local libraries disclose the local library's securities and financial assets on their website.

LIBRARIES-SECURITIES & ASSETS

Rep. David McSweeney [R]

Date	Chamber	Action
2019-03-29	House	Rule 19(a) / Re-referred to Rules Committee
2019-02-14	House	To Property Tax Subcommittee
2019-02-05	House	Assigned to Revenue & Finance Committee
2019-01-28	House	Referred to Rules Committee
2019-01-28	House	First Reading
2019-01-28	House	Filed with the Clerk by Rep. David McSweeney

Chapter	Article	Section	Citation Type	Statute Text
15	320	8.5	New Code	See Bill Text
55	5	5-38012.5	New Code	See Bill Text
75	16	1-60	New Code	See Bill Text
75	40	4.5	New Code	See Bill Text
75	5	1-8	New Code	See Bill Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=933&GAID=15&DocTypeID=HB&SessionID=108&GA=101
Text	https://www.ilga.gov/legislation/101/HB/10100HB0933.htm