Executive Committee

Filed: 5/27/2005

 

 


 

 


 
09400SB0676ham001 LRB094 04414 JAM 47292 a

1
AMENDMENT TO SENATE BILL 676

2     AMENDMENT NO. ______. Amend Senate Bill 676 by replacing
3 everything after the enacting clause with the following:
 
4     "Section 5. The Property Tax Code is amended by changing
5 Section 1-55 as follows:
 
6     (35 ILCS 200/1-55)
7     Sec. 1-55. 33 1/3%. One-third of the the fair cash value of
8 property, as determined by the Department's sales ratio studies
9 for the 3 most recent years preceding the assessment year,
10 adjusted to take into account any changes in assessment levels
11 implemented since the data for the studies were collected.
12 (Source: P.A. 86-1481; 87-877; 88-455.)".