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Sen. Don Harmon
Filed: 2/8/2006
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09400SB2123sam001 |
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LRB094 12610 BDD 55725 a |
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| AMENDMENT TO SENATE BILL 2123
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| AMENDMENT NO. ______. Amend Senate Bill 2123 by replacing |
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| everything after the enacting clause with the following:
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| "Section 5. The Property Tax Code is amended by changing |
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| Section 18-230 as follows:
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| (35 ILCS 200/18-230)
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| Sec. 18-230. Rate increase or decrease factor. When a new |
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| rate or a rate
increase or decrease first effective for the |
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| current levy year has been
approved by referendum, the
the |
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| aggregate extension base, as adjusted in Sections
18-215 and |
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| 18-220, shall be multiplied by a rate increase (or decrease) |
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| factor.
The numerator of the rate increase (or decrease) factor |
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| is the total combined
rate for the funds that made up the |
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| aggregate extension for the taxing district
for the prior year |
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| plus the rate increase approved or minus the rate decrease
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| approved. The denominator of the rate increase or decrease |
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| factor is the total
combined rate for the funds that made up |
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| the aggregate extension for the prior
year. For those taxing |
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| districts for which a new rate or a rate increase has
been |
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| approved by referendum held after December 31, 1988, and
that |
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| did not increase their rate to the new maximum rate for that |
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| fund, the
rate increase factor shall be adjusted for 4 levy |
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| years after the year
of the referendum by a factor the |
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| numerator of which is the portion of the
new or increased rate |