IL HB5545

Defines "service provider agency" as a local non-profit entity contracting with municipalities or counties to manage special service areas, and defines "special service area commission" as a local board overseeing a particular special service area.

Requires a list of names and addresses of individuals and entities receiving mailed notice of public hearings be published when notice is given and made available at the hearing.

Changes authorization requirement from 51% to 20% of taxpayers and property owners to authorize creation, enlargement, tax levy, increase, or bond issuance for special service areas; petition must be filed within 60 days after public hearing.

Prohibits special service area commission members from being owners or board members of the service provider agency, and prohibits businesses owned by commission members or municipal employees from providing goods or services to the special service area.

Requires at least one commission member to own homestead property in the area, prohibits commissions from establishing loans or lines of credit, mandates annual audits submitted to municipal authorities, and sets 10-year expiration date with option for single 15-year renewal if authorized by petition.