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| | 97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
HB1645 Introduced 2/15/2011, by Rep. Kay Hatcher SYNOPSIS AS INTRODUCED:
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Amends the Property Tax Code. Provides that, if in any taxable year the governing authority of any taxing district determines that a surplus of funds is available from any source, that taxing district may, by resolution or ordinance, eliminate its tax levy for that taxable year. Provides that the taxing district may resume its tax levy in any subsequent taxable year without additional referendum approval.
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| | | FISCAL NOTE ACT MAY APPLY | | HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY |
| | A BILL FOR |
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| | HB1645 | | LRB097 02977 HLH 43002 b |
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| 1 | | AN ACT concerning revenue.
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| 2 | | Be it enacted by the People of the State of Illinois,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Property Tax Code is amended by changing |
| 5 | | Section 18-20 as follows:
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| 6 | | (35 ILCS 200/18-20)
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| 7 | | Sec. 18-20. Abatement of levies.
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| 8 | | (a) Notwithstanding any other law to the contrary, if any |
| 9 | | taxing district
receives funds under Section 12 of the State |
| 10 | | Revenue Sharing Act, which may
lawfully be used by the |
| 11 | | district, the governing authority of the district, upon
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| 12 | | determining that a surplus of funds is available for any |
| 13 | | purpose, shall adopt a
resolution or ordinance reducing its tax |
| 14 | | levy for the year for which the
resolution or ordinance is |
| 15 | | adopted.
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| 16 | | (a-5) In addition, if in any taxable year the governing |
| 17 | | authority of any taxing district determines that a surplus of |
| 18 | | funds is available from any source, that taxing district may, |
| 19 | | by resolution or ordinance, eliminate its tax levy for that |
| 20 | | taxable year. If a taxing district eliminates its tax levy |
| 21 | | under this subsection, it may resume its tax levy in any |
| 22 | | subsequent taxable year without additional referendum |
| 23 | | approval. |