Full Text of SB2087 94th General Assembly
SB2087sam002 94TH GENERAL ASSEMBLY
|
Sen. Kimberly A. Lightford
Filed: 3/3/2005
|
|
09400SB2087sam002 |
|
LRB094 08857 MKM 42886 a |
|
| 1 |
| AMENDMENT TO SENATE BILL 2087
| 2 |
| AMENDMENT NO. ______. Amend Senate Bill 2087 by replacing | 3 |
| everything after the enacting clause with the following: | 4 |
| "Section 5. The Addison Creek Restoration Commission Act is | 5 |
| amended by changing Sections 15 and 20 and by adding Section 17 | 6 |
| as follows: | 7 |
| (20 ILCS 3901/15)
| 8 |
| (Section scheduled to be repealed on January 1, 2010) | 9 |
| Sec. 15. Acceptance of grants , loans, advances, and | 10 |
| appropriations. The Commission may apply for and accept | 11 |
| grants ,loans, advances, and appropriations from the federal | 12 |
| government and from the State of Illinois or any agency or | 13 |
| instrumentality thereof to be used for the purposes of the | 14 |
| Commission and may enter into any agreement in relation to | 15 |
| these grants , loans, advances, and appropriations. The | 16 |
| Commission may also accept from the State, any State agency, | 17 |
| department, or commission, any unit of local government, any | 18 |
| railroad, school authority, or jointly therefrom, grants of | 19 |
| funds or services for any of the purposes of this Act.
| 20 |
| (Source: P.A. 93-948, eff. 8-19-04.) | 21 |
| (20 ILCS 3901/17 new) | 22 |
| Sec. 17. Borrowing money and issuance of bonds. The | 23 |
| Commission may incur debt and borrow money from time to time |
|
|
|
09400SB2087sam002 |
- 2 - |
LRB094 08857 MKM 42886 a |
|
| 1 |
| and, in evidence thereof, may issue and sell bonds in such | 2 |
| amount or amounts as the Commission may determine to provide | 3 |
| funds for carrying out the purposes of this Act, to pay all | 4 |
| costs and expenses incident to issuing the bonds, and to refund | 5 |
| and refinance, from time to time, bonds so issued and sold, as | 6 |
| often as may be deemed to be advantageous by the Commission. | 7 |
| Before or at the time of issuing bonds, the Commission shall | 8 |
| provide by ordinance for the collection of an annual tax | 9 |
| sufficient to pay the interest on the bonds as it falls due and | 10 |
| to pay the bonds as they mature. Any tax imposed under this | 11 |
| Section shall be levied against the value, equalized or | 12 |
| assessed by the Department of Revenue, of the taxable property | 13 |
| both within the Addison Creek floodplain and the territory of | 14 |
| the Commission and the total amount levied and extended under | 15 |
| this Section, in the aggregate, in all taxable years, shall not | 16 |
| exceed $10,000,000. | 17 |
| (20 ILCS 3901/20)
| 18 |
| (Section scheduled to be repealed on January 1, 2010) | 19 |
| Sec. 20. Taxing powers. | 20 |
| (a) After the first Monday in October and by the first | 21 |
| Monday in December in each year, the Commission shall levy the | 22 |
| general taxes for the Commission by general categories for the | 23 |
| next fiscal year. A certified copy of the levy ordinance shall | 24 |
| be filed with the county clerk of each county in which the | 25 |
| territory of the Commission including the Addison Creek | 26 |
| floodplain is located by the last Tuesday in December each | 27 |
| year. | 28 |
| (b) The amount of taxes levied for general corporate | 29 |
| purposes for a fiscal year may not exceed the rate of .01% of | 30 |
| the value, as equalized or assessed by the Department of | 31 |
| Revenue, of the taxable property within both the Addison Creek | 32 |
| floodplain and the territory of the Commission, provided that | 33 |
| the total amount levied and extended under this Section, in the |
|
|
|
09400SB2087sam002 |
- 3 - |
LRB094 08857 MKM 42886 a |
|
| 1 |
| aggregate, in all taxable years combined shall not exceed | 2 |
| $10,000,000. | 3 |
| (c) This tax and tax rate are exclusive of the taxes | 4 |
| required for the payment of the principal of and interest on | 5 |
| bonds. | 6 |
| (d) The rate of tax levied for general corporate purposes | 7 |
| may not be initially imposed or thereafter increased unless the | 8 |
| board first adopts a resolution authorizing the initial | 9 |
| imposition of the tax rate or the increase and publishes notice | 10 |
| thereof in a newspaper having general circulation in the | 11 |
| territory of the Commission that includes the Addison Creek | 12 |
| floodplain at least once not less than 45 days prior to the | 13 |
| effective date of the initial imposition of the tax rate or the | 14 |
| increase. The notice shall include a statement of (1) the | 15 |
| specific number of voters required to sign a petition | 16 |
| requesting that the question of the adoption of the resolution | 17 |
| be submitted to the electors of that part of the territory of | 18 |
| the Commission that is within the Addison Creek floodplain; (2) | 19 |
| the time in which the petition must be filed; and (3) the date | 20 |
| of the prospective referendum. The Commission shall provide a | 21 |
| petition form to any individual requesting one. If, no later | 22 |
| than 30 days after the publication of the notice, petitions | 23 |
| signed by voters of that part of the territory of the | 24 |
| Commission that is within the Addison Creek floodplain equal to | 25 |
| 10% or more of the registered voters of that part of the | 26 |
| territory of the Commission that is within the Addison Creek | 27 |
| floodplain, as determined by reference to the number of voters | 28 |
| registered at the next preceding general election, and residing | 29 |
| in that part of the territory of the Commission that is within | 30 |
| the Addison Creek floodplain are presented to the Commission | 31 |
| expressing opposition to the imposition of the tax rate or the | 32 |
| increase, the proposition must first be certified by the | 33 |
| Commission to the proper election officials, who shall submit | 34 |
| the proposition to the legal voters of the territory of the |
|
|
|
09400SB2087sam002 |
- 4 - |
LRB094 08857 MKM 42886 a |
|
| 1 |
| Commission at an election in accordance with the general | 2 |
| election law and approved by a majority of those voting on the | 3 |
| proposition. | 4 |
| The rate of the tax levied for general corporate purposes | 5 |
| of the Commission may be initially imposed or thereafter | 6 |
| increased, up to the maximum rate identified in subsection (b), | 7 |
| by the Commission by a resolution calling for the submission of | 8 |
| the question of imposing or increasing the rate to the voters | 9 |
| of that part of the territory of the Commission that is within | 10 |
| the Addison Creek floodplain in accordance with the general | 11 |
| election law. The question must be in substantially the | 12 |
| following form: | 13 |
| Shall the Commission be authorized to establish its | 14 |
| general corporate tax rate at (insert rate) on the | 15 |
| equalized assessed value on all taxable property located | 16 |
| within that part of the territory of the Commission that is | 17 |
| within the Addison Creek floodplain for its general | 18 |
| purposes? | 19 |
| The ballot must have printed on it, but not as part of the | 20 |
| proposition submitted, the following: "The approximate impact | 21 |
| of the proposed (tax rate or increase) on the owner of a single | 22 |
| family home having a market value of (insert value) would be | 23 |
| (insert amount) in the first year of the (tax rate or increase) | 24 |
| if the (tax rate or increase) is fully implemented." The ballot | 25 |
| may have printed on it, but not as part of the proposition, one | 26 |
| or both of the following: "The last tax rate extended for the | 27 |
| purposes of the Commission was (insert rate). The last rate | 28 |
| increase approved for the purposes of the Commission was in | 29 |
| (insert year)." No other information needs to be included on | 30 |
| the ballot. | 31 |
| The votes must be recorded as "Yes" or "No". | 32 |
| If a majority of the electors voting on the question vote | 33 |
| in the affirmative, the Commission may thereafter levy the tax.
| 34 |
| The Commission shall not have the power to levy real property |
|
|
|
09400SB2087sam002 |
- 5 - |
LRB094 08857 MKM 42886 a |
|
| 1 |
| taxes for any purpose whatsoever.
| 2 |
| (Source: P.A. 93-948, eff. 8-19-04.)
| 3 |
| Section 99. Effective date. This Act takes effect on July | 4 |
| 1, 2005.
|
|