Illinois General Assembly - Bill Status for HB2530
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 Bill Status of HB2530  99th General Assembly


House Sponsors
Rep. Michael W. Tryon

Last Action
DateChamber Action
  1/10/2017HouseSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 200/18-185
35 ILCS 200/18-195

Synopsis As Introduced
Amends the Property Tax Extension Limitation Law in the Property Tax Code. Requires the corporate authorities of a taxing district that is subject to the Law to adopt a limiting rate by ordinance or resolution if the percentage change in the equalized assessed value of all property within the taxing district during the 12-month calendar year preceding the levy year is less than the percentage change in the Consumer Price Index during that same period of time. Provides that the limiting rate may not exceed the maximum rate permitted under the Property Tax Extension Limitation Law. Contains provisions concerning notice. Provides that the rate extended for the sum of all of the funds included in the taxing district's aggregate extension may not exceed the limiting rate adopted by the taxing district. Effective immediately.

DateChamber Action
  2/18/2015HouseFiled with the Clerk by Rep. Michael W. Tryon
  2/18/2015HouseFirst Reading
  2/18/2015HouseReferred to Rules Committee
  3/2/2015HouseAssigned to Revenue & Finance Committee
  3/6/2015HouseTo Property Tax Subcommittee
  3/27/2015HouseRule 19(a) / Re-referred to Rules Committee
  1/10/2017HouseSession Sine Die

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