Bill Text: IL SB2188 | 2009-2010 | 96th General Assembly | Enrolled
Bill Title: Amends the Illinois Municipal Budget Law. Makes a technical change in a Section concerning a municipality's noncompliance with the Act.
Spectrum: Bipartisan Bill
Status: (Passed) 2009-11-25 - Public Act . . . . . . . . . 96-0826 [SB2188 Detail]
Download: Illinois-2009-SB2188-Enrolled.html
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| 1 | AN ACT concerning local government.
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| 2 | Be it enacted by the People of the State of Illinois, | ||||||
| 3 | represented in the General Assembly:
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| 4 | Section 5. The Local Government Debt Reform Act is amended | ||||||
| 5 | by changing Section 17.5 as follows:
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| 6 | (30 ILCS 350/17.5) | ||||||
| 7 | Sec. 17.5. Bond authorization by referendum. | ||||||
| 8 | (a) Whenever applicable law
provides
that the | ||||||
| 9 | authorization of or the issuance of bonds is subject to either | ||||||
| 10 | a
referendum or backdoor referendum, the approval, once | ||||||
| 11 | obtained, remains
(i) for 5 years
after the date
of the | ||||||
| 12 | referendum or (ii) for 3 years after the end of the petition
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| 13 | period for a
backdoor referendum. However, whenever the | ||||||
| 14 | applicable law
provides
that the authorization of or the | ||||||
| 15 | issuance of bonds under the Water Pollution Control Loan | ||||||
| 16 | Program or the Public Water Supply Loan Program, under Title | ||||||
| 17 | IV-A of the Environmental Protection Act, is subject to either | ||||||
| 18 | a referendum or backdoor referendum, the approval, once | ||||||
| 19 | obtained, remains (i) for 7 years after the date of the | ||||||
| 20 | referendum or (ii) for 5 years after the end of the petition | ||||||
| 21 | period for a backdoor referendum. | ||||||
| 22 | (b) With respect to any bond approval under subsection (a), | ||||||
| 23 | if, for any reason, the bonds are not issued because of a court | ||||||
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| 1 | action, then the time limits set forth under subsection (a) for | ||||||
| 2 | the approval for the bonds is tolled during the time that the | ||||||
| 3 | court action is pending. This subsection (b) applies to any | ||||||
| 4 | bond issuance approved by referendum held on or after January | ||||||
| 5 | 1, 2003 or by a backdoor referendum held on or after January 1, | ||||||
| 6 | 2005. | ||||||
| 7 | (Source: P.A. 95-517, eff. 8-28-07.)
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| 8 | Section 99. Effective date. This Act takes effect upon | ||||||
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