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| | 97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
HB3104 Introduced 2/23/2011, by Rep. Michael W. Tryon SYNOPSIS AS INTRODUCED:
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Amends the Property Tax Extension Limitation Law of the Property Tax Code. Provides that if, in any levy year, after application of the allowable extension limitations, the aggregate extension for a taxing district increases less than 1.0%, or the aggregate extension for a taxing district decreases, the implementation of the Law shall be suspended for that levy year only. Provides that, upon suspension of the Law, the tax rate shall be calculated as if the taxing district were located in a county to which the Law does not apply. Provides that the Law shall go back into effect in the following levy year unless the 1.0% threshold is once again not met. Effective immediately.
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| | | FISCAL NOTE ACT MAY APPLY | | HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY |
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| | HB3104 | | LRB097 08891 HLH 49022 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 adding |
| 5 | | Section 18-187 as follows:
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| 6 | | (35 ILCS 200/18-187 new) |
| 7 | | Sec. 18-187. Suspension of implementation. If, in any levy |
| 8 | | year, after application of the allowable extension limitations |
| 9 | | under this Law, the aggregate extension for a taxing district |
| 10 | | increases less than 1.0%, or the aggregate extension for a |
| 11 | | taxing district decreases, the implementation of this Law shall |
| 12 | | be suspended for the taxing district for that levy year only. |
| 13 | | Upon suspension of the Law, the tax rate for the taxing |
| 14 | | district shall be calculated as if the taxing district were |
| 15 | | located in a county to which this Law does not apply. This Law |
| 16 | | shall go back into effect in the following levy year unless, in |
| 17 | | the following levy year, after application of the allowable |
| 18 | | extension limitations, the aggregate extension for the taxing |
| 19 | | district increases less than 1.0% or decreases.
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| 20 | | Section 99. Effective date. This Act takes effect upon |
| 21 | | becoming law.
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