Illinois General Assembly - Full Text of Public Act 099-0019

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Public Act 099-0019

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Public Act 0019 99TH GENERAL ASSEMBLY

Public Act 099-0019

SB0087 Enrolled LRB099 03642 AWJ 23650 b

    AN ACT concerning local government.

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

    Section 5. The Counties Code is amended by changing Section
6-1002.5 as follows:

    (55 ILCS 5/6-1002.5)
    Sec. 6-1002.5. Capital Improvement, Repair, or Replacement
Fund.
    (a) In the preparation of the ~~its~~ annual budget, an amount
not to exceed 3% of the equalized assessed value of property
subject to taxation by the county may be accumulated in a
separate fund ~~a county may appropriate an amount not to exceed~~
~~5% of the amount appropriated to the county's general corporate~~
~~or operating fund,~~for the purpose of making specified capital
improvements, repairs, or replacements with respect to real
property or equipment or other tangible personal property of
the county. Any amount so accumulated ~~appropriated~~ shall be
deposited into a special fund to be known as the County Capital
Improvement, Repair, or Replacement Fund ("the Fund").
Expenditures from the Fund shall be budgeted in the fiscal year
in which the capital improvement, repair, or replacement will
occur.
    (b) Moneys shall be transferred from the Fund into the
county's general corporate or operating fund as follows:
        (1) When a capital improvement, repair, or replacement
    project is completed, or when such a project is abandoned,
    and the county board determines that there remain in the
    Fund unspent moneys that were budgeted for the project,
    those unspent moneys shall be transferred.
        (2) When the county board determines that surplus
    moneys, not needed for any capital improvement, repair, or
    replacement project for which the Fund was established,
    remain in the Fund, those surplus moneys shall be
    transferred.
    Moneys transferred to the county's general corporate or
operating fund under this subsection shall be transferred on
the first day of the fiscal year following the fiscal year in
which the unspent or surplus moneys were determined to exist.
(Source: P.A. 94-644, eff. 8-22-05.)

Effective Date: 1/1/2016

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