Illinois HB3612 amends the Fox Waterway Agency Act to allow the agency to levy a property tax.
HB3612 removes the prohibition on the Fox Waterway Agency imposing property taxes. The Board of Directors can now levy and collect a general property tax on any property within the agency's limits to cover operating and maintenance costs of the waterway. At least 75% of the collected income must be used for waterway projects, including dredging, site acquisition, water safety, and water quality. Unused funds can be accumulated in a revolving fund.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.