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92_SB1650enr
SB1650 Enrolled SRS92SB0057NCap
1 AN ACT in relation to taxes.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 ARTICLE 5
5 Section 5-1. Short title. This Article may be cited as
6 the Municipal Validation Law of 2002.
7 Section 5-5. Redevelopment actions; validation. All
8 actions taken before the effective date of this Law by any
9 municipality pursuant to the Tax Increment Allocation
10 Redevelopment Act for purposes of approving a redevelopment
11 plan and redevelopment project, designating a redevelopment
12 project area, and adopting tax increment allocation financing
13 are validated, ratified, and confirmed as valid actions in
14 full force and effect as of the date of adoption of the
15 ordinance of the municipality approving the redevelopment
16 plan and project, notwithstanding that an ordinance
17 designating the redevelopment project area was not adopted on
18 that date and an ordinance adopting tax increment allocation
19 financing was not adopted on that date, provided that, no
20 later than 180 days after the effective date of this Law, the
21 governing body of the municipality adopts an ordinance
22 designating the redevelopment project area and an ordinance
23 adopting tax increment allocation financing for the
24 redevelopment project area.
25 Section 5-10. Election validation. All actions taken
26 before the effective date of this Law with respect to a
27 public question authorizing the issuance of general
28 obligation bonds of a municipality that was submitted to and
29 approved by the electors of that municipality at the general
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1 primary election held on March 19, 2002 and all bonds issued
2 or to be issued by that municipality pursuant to that
3 approval are ratified, validated, and confirmed as lawful
4 actions to authorize the issuance of those bonds and any such
5 bonds shall be lawful, valid, and binding general obligations
6 of that municipality, notwithstanding that the notice of
7 election and the form of public question approved by the
8 electors at that election did not conform to the requirements
9 of applicable law, provided that the notice of election and
10 the public question did set forth the principal amount of the
11 bonds and the capital improvements to be financed by the
12 bonds and that no bond issued by virtue of the approval of
13 the public question shall bear interest at a rate exceeding
14 7% per annum.
15 ARTICLE 10
16 Section 10-1. Short title. This Article may be cited as
17 the Maywood Public Library District Tax Levy Validation
18 (2002) Law.
19 Section 10-5. Tax levy ordinances of the Maywood Public
20 Library District. If the Maywood Public Library District has,
21 during the fiscal years 2001 and 2002, within the time
22 required by law adopted annual appropriation ordinances for
23 those years but failed to adopt its annual tax levy ordinance
24 for the tax year 2001 (collectible in 2002), but adopts its
25 2001 tax levy or a supplemental or deficiency 2001 tax levy,
26 or both, by the last Tuesday of December 2002, and duly files
27 the same with the county clerk of the county in which the
28 district is located, then any such tax levy ordinances and
29 supplemental or deficiency tax levy ordinance and the taxes
30 assessed, levied, and extended thereon are hereby validated
31 notwithstanding any failure to comply with the Truth in
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1 Taxation Law or the Cook County Truth in Taxation Law and
2 further notwithstanding any failure to comply with the
3 provisions of the Property Tax Extension Limitation Law or
4 any other law. No 2001 tax levy or supplemental or deficiency
5 levy, however, is validated to the extent it would have
6 exceeded the maximum amount the district could have levied
7 under the Property Tax Extension Limitation Law if the tax
8 levy ordinance or supplemental or deficiency levy ordinance
9 had been adopted and filed in due time in calendar year 2001.
10 Any such tax levy or supplemental or deficiency levy shall be
11 extended by the county clerk of the county in which the
12 public library district is located by adding the amount of
13 the 2001 tax levy or supplemental or deficiency levy to the
14 district's validly enacted 2002 tax levy, regardless of
15 whether that 2001 tax levy is in the form of a customary
16 annual tax levy or in the form of a supplemental or
17 deficiency tax levy. Moreover, if the district has received
18 any tax revenue for the calendar year 2001 intended for the
19 payment of principal and interest on outstanding bonds of the
20 district and the district has used any portion or all of that
21 tax revenue for normal operating expenses, that use of those
22 funds is hereby validated if the district issues either tax
23 anticipation warrants or notes to provide funds sufficient to
24 replace that bond revenue used for operating expenses prior
25 to default on any bond payments; further, the use of the
26 proceeds of the issuance of those notes or warrants to make
27 the bond payments when due is further hereby validated.
28 Section 10-905. The Property Tax Code is amended by
29 adding Sections 18-92, 18-101.47, and 18-197 as follows:
30 (35 ILCS 200/18-92 new)
31 Sec. 18-92. Maywood Public Library District Tax Levy
32 Validation (2002) Law. The provisions of the Truth in
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1 Taxation Law are subject to the Maywood Public Library
2 District Tax Levy Validation (2002) Law.
3 (35 ILCS 200/18-101.47 new)
4 Sec. 18-101.47. Maywood Public Library District Tax Levy
5 Validation (2002) Law. The provisions of the Cook County
6 Truth in Taxation Law are subject to the Maywood Public
7 Library District Tax Levy Validation (2002) Law.
8 (35 ILCS 200/18-197 new)
9 Sec. 18-197. Maywood Public Library District Tax Levy
10 Validation (2002) Law. The provisions of the Property Tax
11 Extension Limitation Law are subject to the Maywood Public
12 Library District Tax Levy Validation (2002) Law.
13 ARTICLE 99
14 Section 99-99. Effective date. This Act takes effect
15 upon becoming law.