HB1037 Summary

• Authorizes Boone, DeKalb, DuPage, Grundy, Kane, Kankakee, Kendall, Lake, McHenry, and Will counties to levy an annual tax not exceeding 0.05% of equalized assessed property value for farmland preservation easements and green redevelopment purposes.

• Tax requires approval by referendum, initiated either through county board resolution or by petition signed by at least 0.5% of voters from the last gubernatorial election.

• Tax proceeds must be divided between two funds: at least 50% into county farmland preservation easement fund for purchasing farmland easements, and up to 50% into green redevelopment fund for grants to local units for stormwater management, groundwater protection, and brownfield remediation.

• Green redevelopment funds cannot be used for projects on land planned or reserved for agricultural use or open space.

• Tax can be discontinued by referendum petition of 0.5% of voters; remaining funds revert to general county fund, but existing easement and grant agreements must be fulfilled.