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IL SB3341

Bill

Status

Passed

1/9/2015

Primary Sponsor

Pamela Althoff

Click for details

Origin

Senate

98th General Assembly

AI Summary

  • Allows conservation districts located entirely within McHenry County to issue bonds without voter approval for development of real property (including trails, parking lots, bridges, roads, picnic shelters, and accessibility/historic structure improvements) if the property was acquired with referendum-approved bonds.

  • Preserves existing authority for all conservation districts to issue bonds without voter approval for real property acquisition and expands the ability to issue bonds for property development in districts meeting specific county population criteria.

  • Clarifies that referendum-approved bonds, refunding bonds, and fully paid bonds do not count against a district's debt limit when calculating the 0.575% indebtedness cap.

  • Requires districts to provide annual tax collection by ordinance to pay principal and interest on bonds before or at the time of issuance.

  • Mandates that bond ballots include printed language showing the approximate tax impact on a single-family home at a specified market value in the first year of the increase.

Legislative Description

CONSERVATION DISTRICT-DEBT

Last Action

Public Act . . . . . . . . . 98-1168

1/9/2015

Committee Referrals

Revenue & Finance11/25/2014
Rules5/16/2014
Finance5/1/2014
Revenue & Finance4/28/2014
Rules4/7/2014
Revenue2/25/2014
Assignments2/14/2014

Full Bill Text

No bill text available