Synopsis As Introduced 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.
Replaces everything after the enacting clause. Amends the Property Tax Code. Provides that, if funds received through a special service area are going to be used by a person or entity other than the municipality or county, then the notice of the establishment of the special service area shall include a statement to that effect. Provides that no member of a special service area commission may be an executive officer, owner, or member of the board of directors of the service provider agency selected for a services contract for that special service area. Provides that no business owned by a member of special service area commission may, for valuable consideration, provide goods or services as a subcontractor of a service provider agency pursuant to a services contract for the special service area that is the subject of that special service area commission. Provides that at least one membership position for each special service area commission in a special service area which contains one or more homestead properties shall be reserved as a first priority membership position for any owner of homestead property located within that special service area. Provides that special service area commissions in municipalities with 1,000,000 or more inhabitants may not establish any loan or line of credit in connection with the special service area. Requires special service area audits. Provides that municipalities with 1,000,000 or more inhabitants may charge an annual administrative fee in connection with the administration of a special service area. Provides that the corporate authorities of certain municipalities may disconnect erroneously included property from a special service area solely by municipal action.