95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
HB1269

 

Introduced 2/15/2007, by Rep. Robert Rita

 

SYNOPSIS AS INTRODUCED:
 
50 ILCS 310/9   from Ch. 85, par. 709

    Amends the Governmental Account Audit Act. Provides that certain governmental units may levy an auditing tax in an amount that is sufficient to pay the expenses associated with required audits. Effective immediately.


LRB095 04772 HLH 24831 b

FISCAL NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB1269 LRB095 04772 HLH 24831 b

1     AN ACT concerning local government.
 
2     Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
 
4     Section 5. The Governmental Account Audit Act is amended by
5 changing Section 9 as follows:
 
6     (50 ILCS 310/9)  (from Ch. 85, par. 709)
7     Sec. 9. The expenses of the audit and investigation of
8 public accounts provided for by this Act, whether ordered by
9 the governing body or the Comptroller, shall be paid by the
10 governmental unit for which the audit is made. Payment shall be
11 ordered by the governing body out of the funds of the unit and
12 such authorities shall make provision for payment. Contracts
13 for the performance of audits required by this Act may be
14 entered into without competitive bidding. If the audit is made
15 by a licensed public accountant retained by the Comptroller,
16 the governmental unit shall pay to the Comptroller actual
17 compensation and expenses to reimburse him for the cost of
18 making such audit.
19     The governing body of any governmental unit having taxing
20 powers may levy an auditing tax on all taxable property in the
21 unit as equalized or assessed by the Department of Revenue in
22 an amount that will not require extension of such tax at a rate
23 produce a sum that is sufficient to pay the costs of the audit

 

 

HB1269 - 2 - LRB095 04772 HLH 24831 b

1 expenses required by this Act in excess of .005% of the value
2 of all taxable property in the unit as equalized or assessed by
3 the Department of Revenue. This auditing tax may be in excess
4 of or in addition to any statutory limitation of rate or
5 amount. Money received from the auditing tax shall be held in a
6 special fund and used only for the payment of auditing
7 expenses.
8 (Source: P.A. 81-1509.)
 
9     Section 99. Effective date. This Act takes effect upon
10 becoming law.