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95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
SB1568
Introduced 2/9/2007, by Sen. Randall "Randy" M. Hultgren SYNOPSIS AS INTRODUCED:
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Amends the Downstate Forest Preserve District Act. Provides that the district may establish a separate fund for capital improvements, repairs, or replacements. Provides that the amount accumulated in the fund shall not exceed 0.02% of the equalized assessed value of taxable property in the district. Provides for the distribution of surplus moneys. Effective immediately.
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A BILL FOR
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SB1568 |
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LRB095 08997 HLH 29188 b |
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| AN ACT concerning forest preserve districts.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The Downstate Forest Preserve District Act is |
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| amended by adding Section 13.8 as follows:
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| (70 ILCS 805/13.8 new) |
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| Sec. 13.8. In the preparation of the annual appropriation |
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| ordinance, an amount not to exceed 0.02% of the equalized |
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| assessed value of property subject to taxation by the district |
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| may be accumulated in a separate fund for the purpose of |
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| specific capital improvements, repairs, or replacements of |
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| district equipment or other tangible property. The Fund shall |
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| be designated as the "Capital Improvement, Repair, or |
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| Replacement Fund". Expenditures from the Capital Improvement, |
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| Repair, or Replacement Fund shall be appropriated for the |
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| fiscal year in which the capital improvement, repair, or |
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| replacement will occur. If any surplus moneys remain in the |
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| Fund after the completion or abandonment of any object for |
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| which moneys from the Capital Improvement, Repair, or |
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| Replacement Fund were used, then any funds no longer necessary |
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| for capital improvement, repair, or replacement shall be |
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| transferred into the general corporate fund of the district on |
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| the first day of the fiscal year following the abandonment or |