Bill Text: IL HB1384 | 2015-2016 | 99th General Assembly | Introduced
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Amends the Property Tax Code. Provides that, if there is excess money remaining in a special service area fund at the end of a fiscal year, then the corporate authorities may use that excess money to provide special services within the special service area in the next fiscal year, provided that the total amount used may not exceed 25% of the previous fiscal year's budget for the special service area. Effective immediately.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2017-01-03 - Rule 19(b) / Re-referred to Rules Committee [HB1384 Detail]
Download: Illinois-2015-HB1384-Introduced.html
Bill Title: Amends the Property Tax Code. Provides that, if there is excess money remaining in a special service area fund at the end of a fiscal year, then the corporate authorities may use that excess money to provide special services within the special service area in the next fiscal year, provided that the total amount used may not exceed 25% of the previous fiscal year's budget for the special service area. Effective immediately.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2017-01-03 - Rule 19(b) / Re-referred to Rules Committee [HB1384 Detail]
Download: Illinois-2015-HB1384-Introduced.html
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1 | AN ACT concerning revenue.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 5. The Property Tax Code is amended by adding | ||||||||||||||||||||||||
5 | Section 27-92 as follows:
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6 | (35 ILCS 200/27-92 new) | ||||||||||||||||||||||||
7 | Sec. 27-92. Special service area moneys used in the next | ||||||||||||||||||||||||
8 | fiscal year. Notwithstanding any other provision of law, if | ||||||||||||||||||||||||
9 | there is excess money remaining in a special service area fund | ||||||||||||||||||||||||
10 | at the end of a fiscal year, then the corporate authorities may | ||||||||||||||||||||||||
11 | use that excess money to provide special services within the | ||||||||||||||||||||||||
12 | special service area in the next fiscal year, provided that the | ||||||||||||||||||||||||
13 | total amount used may not exceed 25% of the previous fiscal | ||||||||||||||||||||||||
14 | year's budget for the special service area.
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15 | Section 99. Effective date. This Act takes effect upon | ||||||||||||||||||||||||
16 | becoming law.
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