IL HB4639

Amends the Conservation District Act to extend the maximum maturity period for bonds issued for acquisition or development of real property from 20 years to 25 years after the date of issue.

Amends the Downstate Forest Preserve District Act to extend the maximum maturity period for bonds from 20 years to 25 years after the date of issue, with an exception allowing "Build America Bonds" issued before January 1, 2011, and refunding bonds to mature up to 25 years after issue.

Maintains existing debt limitations for conservation and forest preserve districts, including restrictions on indebtedness for land acquisition and development purposes.

Requires districts to provide by ordinance for collection of annual taxes sufficient to pay bond principal and interest as they become due.

Takes effect upon becoming law.