LOC GOV-TAX ANTICIPATION LOANS

Amends the Property Tax Code and the State Finance Act. Creates the Tax Anticipation Revolving Loan Fund. Provides that moneys in the Fund may be used by the Department of Revenue to make short-term loans to taxing districts that (i) are located within Cook County and (ii) are authorized to issue tax anticipation warrants. Provides that loans may be made if (i) any property tax proceeds are not distributed to the taxing district in a timely manner and (ii) as a result of the delay, it will be necessary for the taxing district to issue tax anticipation warrants. Contains provisions concerning repayment of the loans. Effective immediately.