IL HB0983

Amends the Local Government Debt Reform Act to modify procedures for issuing "alternate bonds" (general obligation bonds payable from revenue sources) by governmental units.

Extends the petition period for backdoor referendum from 30 days to 45 days for governmental units with fewer than 500,000 inhabitants issuing alternate bonds payable solely from enterprise revenues (excluding public utilities, streets, roads, and public safety facilities).

Lowers the petition signature requirement for these smaller units with more than 4,000 registered voters to 5% of voters or 5,000 voters (whichever is less), and for units with 4,000 or fewer voters to 15% of voters or 200 voters (whichever is less).

Requires independent accountants or feasibility analysts conducting sufficiency determinations to have no other involvement in the project being financed with bond proceeds.

Effective January 1, 2014.