Bill > HB3612

This bill amends the Fox Waterway Agency Act by removing a previous restriction that prohibited the Agency from imposing property taxes. Specifically, the bill eliminates language that explicitly prevented the Agency from levying property taxes, thereby granting the Agency's board of directors the authority to collect a general property tax on properties within its corporate limits. This new tax power would be used to fund the Agency's operational and maintenance costs related to the waterway. Previously, the Agency was limited to generating revenue through user fees for recreational and commercial boating, revenue bonds, and borrowing from financial institutions. The change allows the Agency more financial flexibility by enabling it to directly collect property tax, which could provide a more stable and predictable source of funding for its ongoing expenses and projects. The bill requires that any new tax or fee changes must still be preceded by public hearings, maintaining a level of transparency and public input in the Agency's financial decision-making process.

Budget and Finance

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3612&GAID=18&DocTypeID=HB&SessionID=114&GA=104