Illinois General Assembly - Bill Status for SB0196
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 Bill Status of SB0196  103rd General Assembly


Short Description:  PTELL-AGGREGATE EXTENSION

Senate Sponsors
Sen. Dan McConchie

Last Action
DateChamber Action
  1/31/2023SenateReferred to Assignments

Statutes Amended In Order of Appearance
35 ILCS 200/18-185
35 ILCS 200/18-205
35 ILCS 200/18-207 new
35 ILCS 200/18-212


Synopsis As Introduced
Amends the Property Tax Extension Limitation Law in the Property Tax Code. Provides that a taxing district shall reduce its aggregate extension base for the purpose of lowering its limiting rate for future years upon referendum approval initiated by the submission of a petition by the voters of the district. Provides that the extension limitation shall be: (a) the lesser of 5% or the average percentage increase in the Consumer Price Index for the 10 years immediately preceding the levy year for which the extension limitation is being calculated; or (b) the rate of increase approved by the voters. Effective immediately.

Actions 
DateChamber Action
  1/31/2023SenateFiled with Secretary by Sen. Dan McConchie
  1/31/2023SenateFirst Reading
  1/31/2023SenateReferred to Assignments

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