IL SB3342

Amends the Conservation District Act to establish tax levy rates for conservation districts, with a base rate of 0.1% for general purposes or alternative rates of 0.025% and 0.075% combined.

Allows conservation districts to accumulate property reserves up to 0.075% to 0.325% of equalized assessed valuation depending on the levy option selected.

Requires districts in a county with population less than 750,000 that is contiguous to a county with population over 2,000,000 to obtain county board approval of their annual budget in addition to board adoption.

Establishes a special provision for conservation districts located wholly within McHenry County to levy up to 0.15% (instead of 0.1%) but requires voter approval before levying any rate exceeding 0.1%.

Sets the aggregate annual tax levy limit at 0.1% of taxable property value, or 0.15% for McHenry County districts, with option to exceed this limit subject to voter approval and Property Tax Extension Limitation Law requirements.