Public Act 094-0682
 
SB2087 Enrolled LRB094 08857 MKM 39076 b

    AN ACT concerning State government.
 
    Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
 
    Section 5. The Addison Creek Restoration Commission Act is
amended by changing Sections 15 and 20 and by adding Section 17
as follows:
 
    (20 ILCS 3901/15)
    (Section scheduled to be repealed on January 1, 2010)
    Sec. 15. Acceptance of grants, loans, advances, and
appropriations. The Commission may apply for and accept grants,
loans, advances, and appropriations from the federal
government and from the State of Illinois or any agency or
instrumentality thereof to be used for the purposes of the
Commission and may enter into any agreement in relation to
these grants, loans, advances, and appropriations. The
Commission may also accept from the State, any State agency,
department, or commission, any unit of local government, any
railroad, school authority, or jointly therefrom, grants of
funds or services for any of the purposes of this Act.
(Source: P.A. 93-948, eff. 8-19-04.)
 
    (20 ILCS 3901/17 new)
    Sec. 17. Borrowing money and issuance of bonds.
    (a) The Commission may incur debt and borrow money from
time to time and, in evidence thereof, may issue and sell bonds
in an amount sufficient to provide funds for carrying out the
purposes of this Act, to pay all costs and expenses incident to
issuing the bonds, and to refund and refinance, from time to
time, bonds so issued and sold.
    (b) Before issuing any bonds under this Section, the
Commission shall adopt a resolution calling for the submission
of the question of issuing the bonds and imposing a tax
sufficient for payment of the interest on the bonds as it falls
due and to pay the bonds as they mature to the voters of that
part of the territory of the Commission that is within the
Addison Creek floodplain in accordance with the general
election law. The question must be in substantially the
following form:
        Shall the Commission issue bonds in an amount not to
    exceed (insert amount) and levy a tax at a rate not to
    exceed (insert rate) of the equalized assessed value of all
    taxable property located within that part of the territory
    of the Commission that is within the Addison Creek
    floodplain for the payment of the interest on the bonds as
    it falls due and to pay the bonds as they mature?
    The ballot must have printed on it, but not as part of the
proposition submitted, the following: "The approximate impact
of the proposed tax rate on the owner of a single family home
having a market value of (insert value) would be (insert
amount) in the first year of the tax if the tax is fully
implemented." No other information needs to be included on the
ballot.
    The votes must be recorded as "Yes" or "No".
    If a majority of the electors voting on the question vote
in the affirmative, the Commission may thereafter issue the
bonds and levy the tax.
    (c) The total amount levied and extended under this Section
and Section 20, in the aggregate, in any single taxable year,
shall not exceed $10,000,000.
 
    (20 ILCS 3901/20)
    (Section scheduled to be repealed on January 1, 2010)
    Sec. 20. Taxing powers.
    (a) After the first Monday in October and by the first
Monday in December in each year, the Commission shall levy the
general taxes for the Commission by general categories for the
next fiscal year. A certified copy of the levy ordinance shall
be filed with the county clerk of each county in which the that
part of the territory of the Commission that is within the
Addison Creek floodplain is located by the last Tuesday in
December each year.
    (b) The amount of taxes levied for general corporate
purposes for a fiscal year may not exceed the rate of .01% of
the value, as equalized or assessed by the Department of
Revenue, of the taxable property located within that part of
the territory of the Commission that is within the Addison
Creek floodplain, provided that the total amount levied and
extended under this Section and Section 17, in the aggregate,
in any single taxable year, shall not exceed $10,000,000.
    (c) This tax and tax rate are exclusive of the taxes
required for the payment of the principal of and interest on
bonds.
    (d) The rate of the tax levied for general corporate
purposes of the Commission may be initially imposed or
thereafter increased, up to the maximum rate identified in
subsection (b), by the Commission by a resolution calling for
the submission of the question of imposing or increasing the
rate to the voters of that part of the territory of the
Commission that is within the Addison Creek floodplain in
accordance with the general election law. The question must be
in substantially the following form:
        Shall the Commission be authorized to establish its
    general corporate tax rate at (insert rate) on the
    equalized assessed value on all taxable property located
    within that part of the territory of the Commission that is
    within the Addison Creek floodplain for its general
    purposes?
    The ballot must have printed on it, but not as part of the
proposition submitted, the following: "The approximate impact
of the proposed (tax rate or increase) on the owner of a single
family home having a market value of (insert value) would be
(insert amount) in the first year of the (tax rate or increase)
if the (tax rate or increase) is fully implemented." The ballot
may have printed on it, but not as part of the proposition, one
or both of the following: "The last tax rate extended for the
purposes of the Commission was (insert rate). The last rate
increase approved for the purposes of the Commission was in
(insert year)." No other information needs to be included on
the ballot.
    The votes must be recorded as "Yes" or "No".
    If a majority of the electors voting on the question vote
in the affirmative, the Commission may thereafter levy the tax.
The Commission shall not have the power to levy real property
taxes for any purpose whatsoever.
(Source: P.A. 93-948, eff. 8-19-04.)
 
    Section 99. Effective date. This Act takes effect on July
1, 2005.

Effective Date: 11/3/2005