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| | 100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018
HB1242 Introduced , by Rep. Michael J. Madigan SYNOPSIS AS INTRODUCED:
| | 70 ILCS 5/2a.1 | from Ch. 15 1/2, par. 68.2a1 |
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Amends the Airport Authorities Act. Makes a technical change in a Section
concerning the petition to set forth a tax rate.
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| | A BILL FOR |
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| | HB1242 | | LRB100 02950 AWJ 12955 b |
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| 1 | | AN ACT concerning local government.
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| 2 | | Be it enacted by the People of the State of Illinois, |
| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Airport Authorities Act is amended by |
| 5 | | changing Section 2a.1 as follows:
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| 6 | | (70 ILCS 5/2a.1) (from Ch. 15 1/2, par. 68.2a1)
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| 7 | | Sec. 2a.1. Petition-Setting forth tax rate. The
The |
| 8 | | petition may, in addition to the matters required to be set |
| 9 | | forth in
Section 2.1, also set forth a tax rate, not to exceed |
| 10 | | the rate specified
in Section 13, as the maximum tax rate for |
| 11 | | the proposed Authority. In
such case, such proposed maximum tax |
| 12 | | rate shall be included in the
proposition submitted as provided |
| 13 | | in Section 2.3, and, in the event the
Authority is established, |
| 14 | | the aggregate amount of its taxes for any one
year, exclusive |
| 15 | | of the amount levied for bonded indebtedness or interest
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| 16 | | thereon, shall not exceed such maximum tax rate, unless an |
| 17 | | increase in such
maximum rate is authorized by vote of the |
| 18 | | electors within the Authority as
provided in Section 13.1. |
| 19 | | (Source: Laws 1963, p. 1837.)
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