IL HB0933

Limits local libraries to possessing securities or financial assets no greater than 200% of their total revenue in any fiscal year; libraries exceeding this threshold must reduce property tax levies within one year to comply.

Requires voter referendum approval for capital improvement projects where at least 50% of projected costs are funded by the library's securities or financial assets and the project will impose additional operating costs.

Mandates local libraries disclose their securities and financial assets on their website when holdings exceed 50% of total revenue, with disclosure rules to be adopted by the State Librarian.

Applies these restrictions and requirements to county libraries, public library districts, and village libraries through cross-references to the Illinois Local Library Act.

Defines "financial asset," "security," and "total revenue" based on the Uniform Commercial Code and the preceding fiscal year's actual revenue.