Illinois General Assembly - Bill Status for HB4267
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 Bill Status of HB4267  99th General Assembly

Short Description:  PTELL-RESERVES

House Sponsors
Rep. Fred Crespo - Sam Yingling - Carol Sente - Jack D. Franks - David McSweeney, Natalie A. Manley, Michelle Mussman, Stephanie A. Kifowit and Martin J. Moylan

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

Statutes Amended In Order of Appearance
35 ILCS 200/18-185
35 ILCS 200/18-205
35 ILCS 200/18-242 new
30 ILCS 805/8.39 new

Synopsis As Introduced
Amends the Property Tax Extension Limitation Law in the Property Tax Code. Provides that, if, at the end of any levy year, a taxing district has reserves of 50% or more of its operating budget for that levy year, then, for the next levy year, "extension limitation" means 0% or the rate of increase approved by the voters. Preempts the power of home rule units to tax. Effective immediately.

DateChamber Action
  8/5/2015HouseFiled with the Clerk by Rep. Fred Crespo
  8/5/2015HouseFirst Reading
  8/5/2015HouseReferred to Rules Committee
  8/27/2015HouseAdded Chief Co-Sponsor Rep. Sam Yingling
  9/10/2015HouseAdded Chief Co-Sponsor Rep. Carol Sente
  9/24/2015HouseAdded Chief Co-Sponsor Rep. Jack D. Franks
  9/24/2015HouseAdded Chief Co-Sponsor Rep. David McSweeney
  9/24/2015HouseAdded Co-Sponsor Rep. Natalie A. Manley
  9/24/2015HouseAdded Co-Sponsor Rep. Michelle Mussman
  9/24/2015HouseAdded Co-Sponsor Rep. Stephanie A. Kifowit
  9/24/2015HouseAdded Co-Sponsor Rep. Martin J. Moylan
  3/23/2016HouseAssigned to Revenue & Finance Committee
  3/29/2016HouseTo Property Tax Subcommittee
  4/8/2016HouseRule 19(a) / Re-referred to Rules Committee
  1/10/2017HouseSession Sine Die

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