[ Search ] [ PDF text ] [ Legislation ]
[ Home ] [ Back ] [ Bottom ]
|[ Introduced ]||[ Engrossed ]||[ House Amendment 001 ]|
|[ Senate Amendment 001 ]|
92_SB1262ham002 LRB9208557MWpkam04 1 AMENDMENT TO SENATE BILL 1262 2 AMENDMENT NO. . Amend Senate Bill 1262, AS AMENDED, 3 by replacing everything after the enacting clause with the 4 following: 5 "Section 5. The Airport Authorities Act is amended by 6 adding Sections 13.2 and 13.3 as follows: 7 (70 ILCS 5/13.2 new) 8 Sec. 13.2. Capital improvement program and budget. Each 9 airport authority organized under this Act may annually 10 prepare and update a 5-year capital improvement program and 11 yearly capital budgets based on the program. The purposes of 12 the program are to (i) inventory the airport authority's 13 capital assets, (ii) determine the match between needs and 14 resources, (iii) plan for capital investments and the 15 maintenance of existing facilities, (iv) analyze the 16 relationships between capital maintenance and operating 17 spending, and (v) assist the airport authority in competing 18 for its fair share of State and federal moneys. 19 (70 ILCS 5/13.3 new) 20 Sec. 13.3. Appropriations for capital improvements. An 21 airport authority that has prepared a capital improvement -2- LRB9208557MWpkam04 1 program under Section 13.2 may, in its annual appropriation 2 ordinance, appropriate an amount not to exceed 3% of the 3 equalized assessed value of property subject to taxation by 4 the airport authority for the purpose of making specified 5 capital improvements, acquisitions, repairs, or replacements 6 of the airport authority's real property or equipment or 7 tangible personal property. The amount appropriated for that 8 purpose may be deposited into a special fund known as the 9 Capital Program Fund. Expenditures from the Capital Program 10 Fund must be budgeted in the fiscal year in which the capital 11 improvement, acquisition, repair, or replacement will occur. 12 If any surplus moneys remain after the completion or 13 abandonment of any object for which the Capital Program Fund 14 was established, the moneys no longer necessary for capital 15 improvement, acquisition, repair, or replacement may be 16 transferred into the airport authority's general corporate 17 funds on the first day of the fiscal year following the 18 abandonment or completion of the project or the discovery of 19 the surplus moneys. 20 Section 99. Effective date. This Act takes effect upon 21 becoming law.".
[ Top ]