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| | 103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
SB1397 Introduced 2/6/2023, by Sen. Sally J. Turner SYNOPSIS AS INTRODUCED:
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30 ILCS 350/16 | from Ch. 17, par. 6916 |
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Amends the Local Government Debt Reform Act. Provides that an ordinance levying a tax for the payment of principal of and interest on general obligation bonds or limited
bonds may be filed electronically with the county clerk. Effective immediately.
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| | A BILL FOR |
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| | SB1397 | | LRB103 04922 HLH 49932 b |
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| 1 | | AN ACT concerning finance.
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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 Local Government Debt Reform Act is amended |
| 5 | | by changing Section 16 as follows:
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| 6 | | (30 ILCS 350/16) (from Ch. 17, par. 6916)
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| 7 | | Sec. 16. Levy for bonds. |
| 8 | | (a) A governmental unit may levy a tax for the
payment of |
| 9 | | principal of and interest on general obligation bonds or |
| 10 | | limited
bonds at any
time prior to March 1 of the calendar year |
| 11 | | during which the tax will be
collected. The county clerk shall |
| 12 | | accept the filing of
the ordinance
levying such tax |
| 13 | | notwithstanding that such time is subsequent to the end of
the |
| 14 | | calendar year next preceding the calendar year during which |
| 15 | | such tax
will be collected. |
| 16 | | (b) The county clerk shall accept the electronic filing of |
| 17 | | any ordinance under subsection (a). If a governmental unit |
| 18 | | files an ordinance under subsection (a) electronically, then |
| 19 | | the governmental unit shall maintain an original signed copy |
| 20 | | of the ordinance as long as the general obligation bonds or |
| 21 | | limited bonds remain outstanding. |
| 22 | | (c) In extending taxes for general obligation bonds, the
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| 23 | | county clerk shall add to the levy for debt service on such |