Bill Status of HB 5697   97th General Assembly


Short Description:  PTELL-DISTRICTS ADOPT RATE

House Sponsors
Rep. Michael W. Tryon

Last Action  View All Actions

DateChamber Action
  1/8/2013HouseSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 200/18-185
35 ILCS 200/18-195

Synopsis As Introduced
Amends the Property Tax Extension Limitation Law in the Property Tax Code. Requires the corporate authorities of a taxing district that is subject to the Law to adopt a limiting rate by ordinance or resolution if the percentage change in the equalized assessed value of all property within the taxing district during the 12-month calendar year preceding the levy year is less than the percentage change in the Consumer Price Index during that same period of time. Provides that the limiting rate may not exceed the maximum rate permitted under the Property Tax Extension Limitation Law. Contains provisions concerning notice. Provides that the rate extended for the sum of all of the funds included in the taxing district's aggregate extension may not exceed the limiting rate adopted by the taxing district. Effective immediately.

Actions 
DateChamber Action
  2/16/2012HouseFiled with the Clerk by Rep. Michael W. Tryon
  2/16/2012HouseFirst Reading
  2/16/2012HouseReferred to Rules Committee
  2/27/2012HouseAssigned to Revenue & Finance Committee
  3/9/2012HouseRule 19(a) / Re-referred to Rules Committee
  1/8/2013HouseSession Sine Die

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