SB 1657

  • Illinois Senate Bill
  • 97th Regular Session
  • Introduced in Senate
  • Senate
  • House
  • Governor

Prop Tx-Green Energy Ssa

Abstract

Amends the Illinois Finance Authority Act. Provides that the Illinois Finance Authority has the power to purchase special service area bonds and to accept assignments or pledges, or both, of special service area bonds or agreements relating to public and private green special service area projects. Amends the Special Service Area Tax Law in the Property Tax Code. Provides that the corporate authorities of a county or a municipality may establish a green special service area. Provides that those green special service areas shall include only property for which each owner of record has executed a contract or agreement with the county or municipality consenting to the inclusion of the property within the green special service area. Provides that each owner of record of property within a green special service area may arrange for specific energy efficiency improvements, renewable energy improvements, or water use improvements and may obtain financing for those improvements through the process set forth in the ordinance establishing the green special service area. Provides that counties and municipalities shall levy property taxes on property within green special service areas. Provides that counties and municipalities may issue bonds in connection with green special service areas and may sell, assign, or pledge those bonds to the Illinois Finance Authority. Amends the Counties Code and the Illinois Municipal Code to provide that each county or municipality shall have the power and authority to engage in specified activities that relate to green special service areas. Effective immediately.

Bill Sponsors (1)

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Actions


Jan 08, 2013

Senate

Session Sine Die

Mar 18, 2011

Senate

Rule 3-9(a) / Re-referred to Assignments

Mar 17, 2011

Senate

Postponed - Revenue

Mar 10, 2011

Senate

Postponed - Revenue

Mar 03, 2011

Senate

Postponed - Revenue

Feb 23, 2011

Senate

Assigned to Revenue

Feb 09, 2011

Senate

Filed with Secretary by Sen. Michael W. Frerichs

Senate

Referred to Assignments

Senate

First Reading

Bill Text

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