98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014
HB4273
 
Introduced , by Rep. Jack D. Franks
 
SYNOPSIS AS INTRODUCED:
 

 
35 ILCS 200/18-50.2 new

     Amends the Property Tax Code.  Provides that a non-binding advisory referendum concerning a proposed  extension limitation shall be placed on the ballot at the
first general
election to occur after the effective date of the amendatory Act.  Effective immediately.
  


LRB098 14672 HLH 50344 b

FISCAL NOTE ACT MAY APPLY
 
 
A BILL FOR
 

  
HB4273LRB098 14672 HLH 50344 b


  
1    AN ACT concerning revenue.
  
 
2    Be it enacted by the People of the State of Illinois,
 
3represented in the General Assembly:
  
 
 
4    Section 5. The Property Tax Code is amended  by adding 
5Section 18-50.2 as follows:
 
6    (35 ILCS 200/18-50.2 new)
7    Sec. 18-50.2. Advisory referendum.  The following 
8non-binding advisory
referendum shall be placed on the ballot 
9at the
first general
election to occur after the effective date 
10of this amendatory Act of the 98th General Assembly:
11        "Would you support a change in the Property Tax Code to 
12    provide that: if the value of all taxable property in a 
13    taxing district in a given tax year is lower than the value 
14    of all taxable property in the taxing district in the 
15    previous tax year, then the taxing district may not 
16    increase its levy over the previous levy year unless that 
17    increase is approved by the voters of the taxing district 
18    at a referendum?" 
19    Votes shall be recorded as "Yes" or "No". 
 
 
20    Section 99. Effective date. This Act takes effect upon 
21becoming law.