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| | SB0347 Engrossed | | LRB098 04578 HLH 34606 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, |
| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Property Tax Code is amended by changing |
| 5 | | Section 18-140 as follows:
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| 6 | | (35 ILCS 200/18-140)
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| 7 | | Sec. 18-140.
Extension upon equalized assessment of |
| 8 | | current levy
year. All taxes shall be extended by each county |
| 9 | | clerk upon the valuation
produced by the equalization and |
| 10 | | assessment of property by the Department for
the levy year. In |
| 11 | | the computation of rates, a fraction of a mill shall be
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| 12 | | extended as the next higher mill. Rates may be calculated |
| 13 | | beyond 3 decimal points to allow the extension to be as close |
| 14 | | to the levy requested as possible. Each installment of taxes |
| 15 | | shall be extended
in a separate column. Installments shall be |
| 16 | | equal and as to each installment a
fraction of a cent shall be |
| 17 | | extended as one cent.
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| 18 | | (Source: P.A. 87-17; 88-455.)
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| 19 | | Section 99. Effective date. This Act takes effect upon |
| 20 | | becoming law. |