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92_HB6294
LRB9217093SMfg
1 AN ACT in relation to taxes.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. If and only if House Bill 539 of the 92nd
5 General Assembly becomes law, the Property Tax Code is
6 amended by changing Section 31-35 as follows:
7 (35 ILCS 200/31-35)
8 Sec. 31-35. Deposit of tax revenue.
9 (a) Beginning on the effective date of this amendatory
10 Act of the 92nd General Assembly and through June 30, 2003,
11 of the moneys collected under Section 31-15, 50% shall be
12 deposited into the Illinois Affordable Housing Trust Fund,
13 20% into the Open Space Lands Acquisition and Development
14 Fund, 5% into the Natural Areas Acquisition Fund, and 25%
15 into the General Revenue Fund.
16 (b) Beginning July 1, 2003, of the moneys collected
17 under Section 31-15, 50% shall be deposited into the Illinois
18 Affordable Housing Trust Fund, 35% into the Open Space Lands
19 Acquisition and Development Fund, and 15% into the Natural
20 Areas Acquisition Fund.
21 (Source: P.A. 91-555, eff. 1-1-00; 92HB0539enr.)
22 Section 99. Effective date. This Act takes effect July
23 1, 2003.