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Rep. Emanuel "Chris" Welch
Filed: 5/20/2024
| | 10300SB2703ham001 | | LRB103 36566 HLH 73750 a |
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| 1 | | AMENDMENT TO SENATE BILL 2703
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| 2 | | AMENDMENT NO. ______. Amend Senate Bill 2703 by replacing |
| 3 | | everything after the enacting clause with the following:
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| 4 | | "Section 5. The Property Tax Code is amended by changing |
| 5 | | Section 1-55 as follows:
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| 6 | | (35 ILCS 200/1-55) |
| 7 | | Sec. 1-55. 33 1/3%. One-third of the the fair cash value of |
| 8 | | property, as determined by the Department's sales ratio |
| 9 | | studies for the 3 most recent years preceding the assessment |
| 10 | | year, adjusted to take into account any changes in assessment |
| 11 | | levels implemented since the data for the studies were |
| 12 | | collected. |
| 13 | | (Source: P.A. 86-1481; 87-877; 88-455.)". |