Public Act 099-0019
 
SB0087 EnrolledLRB099 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