Illinois Compiled Statutes 70 ILCS 855/2 – Nothing in this Act shall be construed as validating any tax levy in …
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Terms Used In Illinois Compiled Statutes 70 ILCS 855/2
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
Nothing in this Act shall be construed as validating any tax levy in excess of the rate of taxation authorized by law for any fiscal year or for any purpose not permitted by the Illinois Constitution.