Illinois Compiled Statutes 65 ILCS 5/8-12-23 – A financially distressed city to which this Division applies shall …
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Illinois Compiled Statutes 65 ILCS 5/8-12-23
- Financially distressed city: means any municipality which is a home rule unit and which (i) is certified by the Department of Revenue as being in the highest 5% of all home rule municipalities in terms of the aggregate of the rate per cent of all taxes levied pursuant to statute or ordinance upon all taxable property of the municipality and as being in the lowest 5% of all home rule municipalities in terms of per capita tax yield, and (ii) is designated by joint resolution of the General Assembly as a financially distressed city. See Illinois Compiled Statutes 65 ILCS 5/8-12-3
A financially distressed city to which this Division applies shall remain subject to all other applicable provisions of this Act, except as limited by this Division; provided, however, that in case of a conflict between the provisions of this Division and any other provision of this Act, the provisions of this Division shall control.