Illinois General Assembly - Illinois Compiled Statutes

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40 ILCS 5/10-107

(40 ILCS 5/10-107) (from Ch. 108 1/2, par. 10-107)

Sec. 10-107. Financing; tax levy.

(a) The forest preserve district may
levy an annual tax on the value, as equalized or assessed by the
Department of Revenue, of all taxable property in the
district for the purpose of providing revenue for the fund. The rate of
such tax in any year may not exceed the rate herein specified for that
year or the rate which will produce, when extended, the sum herein
stated for that year, whichever is higher: for any year prior to 1970,
.00103% or $195,000; for the year 1970, .00111% or $210,000; for the
year 1971, .00116% or $220,000. For the year 1972 and each year
thereafter through levy year 2022, the Forest Preserve District shall levy a tax annually at a
rate on the dollar of the value, as equalized or assessed by the
Department of Revenue upon all taxable property in the
county, when extended, not to exceed an amount equal to the total amount
of contributions by the employees to the fund made in the calendar year
2 years prior to the year for which the annual applicable tax is levied,
multiplied by 1.25 for the year 1972; and by 1.30 for the year 1973 and
for each year thereafter through levy year 2022. Beginning in levy year 2023,
 and in each levy year thereafter, the Forest Preserve
District shall levy a tax annually at a rate on the dollar of
the value, as equalized or assessed by the Department of
Revenue, of all taxable property within the county that will
produce, when extended, an amount equal to no less than the
amount of the Forest Preserve District's total required
contribution to the Fund for the next payment year, as
determined under subsection (b). For the purposes of this
Section, the payment year is the year immediately following
the levy year.

The tax shall be levied and collected in like manner with the general
taxes of the district and shall be in addition to the maximum of all
other tax rates which the district may levy upon the aggregate valuation
of all taxable property and shall be exclusive of and in addition to the
maximum amount and rate of taxes the district may levy for general
purposes or under and by virtue of any laws which limit the amount of
tax which the district may levy for general purposes. The county clerk
of the county in which the forest preserve district is located in
reducing tax levies under the provisions of "An Act concerning the levy
and extension of taxes", approved May 9, 1901, as amended, shall not
consider any such tax as a part of the general tax levy for forest
preserve purposes, and shall not include the same in the limitation of
1% of the assessed valuation upon which taxes are required to be
extended, and shall not reduce the same under the provisions of that
Act. The proceeds of the tax herein authorized shall be kept as a
separate fund.

The forest preserve district may use other lawfully available funds in lieu of all or part of the levy.

The Board may establish a manpower program reserve, or a special
forest preserve district contribution rate, with respect to employees
whose wages are funded as program participants under the Comprehensive
Employment and Training Act of 1973 in the manner provided in subsection
(d) or (e), respectively, of Section 9-169.

(b)(1) For payment years 2024 through 2054, the Forest
Preserve District's required annual contribution to the fund
shall be the minimum required employer contribution set forth
in paragraph (3) of this subsection (b).

(2) The Board shall retain an actuary who is a
member in good standing of the American Academy of Actuaries
to produce an annual actuarial report of the Fund. The annual
actuarial report shall include, but not be limited to: (i) a
statement of the actuarial value of the Fund's assets as
projected over 30 years' time and the actuarial value of the
Fund's liabilities as projected over the same period of time;
and (ii) the minimum required employer contribution for the
second year immediately following the year ending on the
valuation date upon which the annual actuarial report is
based. The annual actuarial report shall be reviewed and
formally adopted by the Board and may be included
in other annual reports.

(3) The minimum required employer contribution for a
specified year as set forth in the annual actuarial report
required under paragraph (2) shall be the amount determined by
the Fund's actuary to be equal to the sum of: (i) the projected
normal cost for pensions for that fiscal year, plus (ii) a
projected unfunded actuarial accrued liability amortization
payment for pensions for the fiscal year, plus (iii) projected
expenses for that fiscal year, plus (iv) interest to adjust
for payment pattern during the fiscal year, minus (v)
projected employee contributions for that fiscal year. The
Forest Preserve District's required annual contribution to the
Fund shall not be less than the sum of: (i) the projected





normal cost for pensions for that fiscal year, plus (ii) a
projected unfunded actuarial accrued liability amortization
payment for pensions for the fiscal year, plus (iii) projected
expenses for that fiscal year, plus (iv) interest to adjust
for payment pattern during the fiscal year, minus (v)
projected employee contributions for that fiscal year. The
minimum required employer contribution shall be based on the
entry age normal cost method, a 5-year smoothed actuarial
value of assets, and a 30-year layered amortization of
unfunded actuarial accrued liability with payments increasing
at 2% per year. The unfunded actuarial accrued liability
payment schedule shall be based on the schedule initially
established in 2016 and ending in 2046.

The minimum required employer contribution shall be
submitted annually by the Forest Preserve District on or
before July 31 unless another time frame is agreed upon by the
Forest Preserve District and the Fund. The methods provided in
this Section may be amended as recommended by an independent
actuary engaged by the Fund and in compliance with actuarial
standards of practice and as adopted by an affirmative vote of
a simple majority of the Board and the Forest Preserve
District Board of Commissioners.

(4) For payment years after 2055, the Forest Preserve District's required annual contribution to the Fund shall be equal to the amount, if any, needed to bring the total actuarial assets of the Fund up to 100% of the total actuarial liabilities of the Fund by the end of the year.

(5)  To the extent that the Forest Preserve District's
contribution for any of the payment years referenced in this
subsection (b) is made with property taxes, those property
taxes shall be levied, collected, and paid to the Fund in a
like manner with the general taxes of the Forest
Preserve District.

(Source: P.A. 102-210, eff. 1-1-22; 102-1131, eff. 6-1-23.)