IL HB1578

Park districts may levy taxes on all taxable property for corporate purposes, subject to a rate limit of 0.10% or the rate in effect on July 1, 1967, whichever is greater, excluding bonded debt and special referendum taxes.

Park districts lying wholly within one county may increase property taxes for corporate purposes if offset by equal reductions in other park district funds, without exceeding the extension limitation under Section 18-195 of the Property Tax Code.

Park districts may levy an additional tax of up to 0.12% for recreational programs including playgrounds and community centers, which is excluded from general rate limitations and requires voter approval for amounts exceeding 0.075%.

Park districts subject to Section 18-195 of the Property Tax Code may increase property taxes for corporate and recreational purposes up to the combined authorized rates if they do not levy the optional taxes under Sections 5-3 and 5-3a.

Unused funds at fiscal year-end may be transferred to a capital improvement fund but cannot exceed 1.5% of the aggregate assessed valuation of taxable property in the district.