SB2338 93RD GENERAL ASSEMBLY

LRB093 18168 SJM 43862 b

93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004
SB2338

Introduced 1/28/2004, by Dale A. Righter

SYNOPSIS AS INTRODUCED:

New Act
35 ILCS 200/18-93 new
35 ILCS 200/18-198 new

Creates the Village of Strasburg Tax Levy Validation (2004) Act. Validates the 2003 tax levy ordinance and supplemental or deficiency tax levy ordinance adopted in 2004 and the taxes assessed, levied, and extended thereon by the Village of Strasburg if it meets certain criteria. Provides that no 2003 tax levy or supplemental or deficiency levy, however, is validated to the extent it would have exceeded the maximum amount the district could have levied under the Property Tax Extension Limitation Law if the tax levy ordinance or supplemental or deficiency levy ordinance had been adopted and filed in due time in calendar year 2003. Validates the use for normal operating expenses by the Village of any tax revenue for the calendar year 2003 intended for the payment of principal and interest on outstanding bonds, and validates the use of revenue generated from tax anticipation warrants to make bond payments. Amends the Property Tax Code to provide that the Property Tax Extension Limitation Law and the Truth in Taxation Law are subject to the Village of Strasburg Tax Levy Validation (2004) Act. Effective immediately.

A BILL FOR

AN ACT in relation to taxes.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 1. Short title. This Act may be cited as the Village of Strasburg Tax Levy Validation (2004) Act.

Section 5. Tax levy ordinances of the Village of Strasburg.

If the Village of Strasburg has, during the fiscal years 2003 and 2004, within the time required by law adopted annual appropriation ordinances for those years but failed to adopt its annual tax levy ordinance for the tax year 2003 (collectible in 2004), but adopts its 2003 tax levy or a supplemental or deficiency 2003 tax levy, or both, by the last Tuesday of December 2004, and duly files the same with the county clerk of the county in which the district is located, then any such tax levy ordinances and supplemental or deficiency tax levy ordinance and the taxes assessed, levied, and extended thereon are hereby validated notwithstanding any failure to comply with the Truth in Taxation Law and further notwithstanding any failure to comply with the provisions of the Property Tax Extension Limitation Law or any other law. No 2003 tax levy or supplemental or deficiency levy, however, is validated to the extent it would have exceeded the maximum amount the district could have levied under the Property Tax Extension Limitation Law if the tax levy ordinance or supplemental or deficiency levy ordinance had been adopted and filed in due time in calendar year 2003.

Any such tax levy or supplemental or deficiency levy shall be extended by the county clerk of the county in which the Village of Strasburg is located by adding the amount of the 2003 tax levy or supplemental or deficiency levy to the district's validly enacted 2004 tax levy, regardless of whether that 2003 tax levy is in the form of a customary annual tax levy or in the form of a supplemental or deficiency tax levy.

Moreover, if the district has received any tax revenue for the calendar year 2003 intended for the payment of principal and interest on outstanding bonds of the district and the district has used any portion or all of that tax revenue for normal operating expenses, that use of those funds is hereby validated if the district issues either tax anticipation warrants or notes to provide funds sufficient to replace that bond revenue used for operating expenses prior to default on any bond payments; further, the use of the proceeds of the issuance of those notes or warrants to make the bond payments when due is further hereby validated.

Section 905. The Property Tax Code is amended by adding Sections 18-93 and 18-198 as follows:

(35 ILCS 200/18-93 new)

Sec. 18-93. Village of Strasburg Tax Levy Validation (2004) Act. The provisions of the Truth in Taxation Law are subject to the Village of Strasburg Tax Levy Validation (2004) Act.

(35 ILCS 200/18-198 new)

Sec. 18-198. Village of Strasburg Tax Levy Validation (2004) Act. The provisions of the Property Tax Extension Limitation Law are subject to the Village of Strasburg Tax Levy Validation (2004) Act.

Section 999. Effective date. This Act takes effect upon becoming law.