State of Illinois
92nd General Assembly

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 1        AN ACT concerning airport authorities.

 2        Be  it  enacted  by  the People of the State of Illinois,
 3    represented in the General Assembly:

 4        Section 5. The Airport  Authorities  Act  is  amended  by
 5    adding Sections 13.2 and 23.3 as follows:

 6        (70 ILCS 5/13.2 new)
 7        Sec.  13.2. Capital improvement program and budget.  Each
 8    airport authority  organized  under  this  Act  may  annually
 9    prepare  and  update a 5-year capital improvement program and
10    yearly capital budgets based on the program.  The purposes of
11    the program are to  (i)  inventory  the  airport  authority's
12    capital  assets,  (ii)  determine the match between needs and
13    resources,  (iii)  plan  for  capital  investments  and   the
14    maintenance   of   existing   facilities,  (iv)  analyze  the
15    relationships  between  capital  maintenance  and   operating
16    spending,  and  (v) assist the airport authority in competing
17    for its fair share of State and federal moneys.

18        (70 ILCS 5/13.3 new)
19        Sec. 13.3. Appropriations for capital  improvements.   An
20    airport  authority  that  has  prepared a capital improvement
21    program under Section 13.2 may, in its  annual  appropriation
22    ordinance,  appropriate  an  amount  not  to exceed 3% of the
23    equalized assessed value of property subject to  taxation  by
24    the  airport  authority  for  the purpose of making specified
25    capital improvements, acquisitions, repairs, or  replacements
26    of  the  airport  authority's  real  property or equipment or
27    tangible personal property.  The amount appropriated for that
28    purpose may be deposited into a special  fund  known  as  the
29    Capital  Program Fund.  Expenditures from the Capital Program
30    Fund must be budgeted in the fiscal year in which the capital
                            -2-                LRB9205503MWdv
 1    improvement, acquisition, repair, or replacement will  occur.
 2    If   any  surplus  moneys  remain  after  the  completion  or
 3    abandonment of any object for which the Capital Program  Fund
 4    was  established,  the moneys no longer necessary for capital
 5    improvement,  acquisition,  repair,  or  replacement  may  be
 6    transferred into the airport  authority's  general  corporate
 7    funds  on  the  first  day  of  the fiscal year following the
 8    abandonment or completion of the project or the discovery  of
 9    the surplus moneys.

10        Section 99.   Effective date.  This Act takes effect upon
11    becoming law.

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