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92_HB0914ham005
LRB9202962SMdvam03
1 AMENDMENT TO HOUSE BILL 914
2 AMENDMENT NO. . Amend House Bill 914 on page 17,
3 line 33, before "(i)", by inserting the following:
4 "excluded non-referendum bonds. For park districts (i) that
5 were first subject to this Law in 1991 or 1995 and (ii) whose
6 extension for the 1994 levy year for the payment of principal
7 and interest on bonds issued by the park district without
8 referendum (but not including excluded non-referendum bonds)
9 was less than 51% of the amount for the 1991 levy year
10 constituting an extension for payment of principal and
11 interest on bonds issued by the park district without
12 referendum (but not including excluded non-referendum bonds),
13 "debt service extension base" means an amount equal to that
14 portion of the extension for the 1991 levy year constituting
15 an extension for payment of principal and interest on bonds
16 issued by the park district without referendum (but not
17 including excluded non-referendum bonds). The debt service
18 extension base may be established or increased as provided
19 under Section 18-212. "Excluded non-referendum bonds" means";
20 and
21 on page 18, by replacing lines 5 and 6 with the following:
22 "pursuant to referendum. The debt service extension base may
23 be established or increased as provided under Section
-2- LRB9202962SMdvam03
1 18-212."; and
2 on page 25, by replacing lines 5 and 6 with the following:
3 "Section 99. Effective date. This Section, Sections 5,
4 15, 20, and 25, and the changes to the definition of
5 "aggregate extension" and the addition of the definition of
6 "public building commission lease rental base" in the
7 Property Tax Extension Limitation Law in the Property Tax
8 Code take effect upon becoming law.".