Illinois General Assembly - Full Text of SB4160
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Full Text of SB4160  102nd General Assembly

SB4160 102ND GENERAL ASSEMBLY

  
  

 


 
102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
SB4160

 

Introduced 2/9/2022, by Sen. Dan McConchie

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 200/18-185
35 ILCS 200/18-205
35 ILCS 200/18-207 new
35 ILCS 200/18-212

    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.


LRB102 26260 HLH 36140 b

 

 

A BILL FOR

 

SB4160LRB102 26260 HLH 36140 b

1    AN ACT concerning revenue.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Property Tax Code is amended by changing
5Sections 18-185, 18-205, and 18-212 and by adding Section
618-207 as follows:
 
7    (35 ILCS 200/18-185)
8    Sec. 18-185. Short title; definitions. This Division 5
9may be cited as the Property Tax Extension Limitation Law. As
10used in this Division 5:
11    "Consumer Price Index" means the Consumer Price Index for
12All Urban Consumers for all items published by the United
13States Department of Labor.
14    "Extension limitation" means, for taxable years prior to
152023: (a) the lesser of 5% or the percentage increase in the
16Consumer Price Index during the 12-month calendar year
17preceding the levy year; or (b) the rate of increase approved
18by voters under Section 18-205.
19    "Extension limitation" means, for taxable year 2023 and
20thereafter: (a) the lesser of 5% or the average percentage
21increase in the Consumer Price Index for the 10 years
22immediately preceding the levy year for which the extension
23limitation is being calculated; or (b) the rate of increase

 

 

SB4160- 2 -LRB102 26260 HLH 36140 b

1approved by voters under Section 18-205.
2    "Affected county" means a county of 3,000,000 or more
3inhabitants or a county contiguous to a county of 3,000,000 or
4more inhabitants.
5    "Taxing district" has the same meaning provided in Section
61-150, except as otherwise provided in this Section. For the
71991 through 1994 levy years only, "taxing district" includes
8only each non-home rule taxing district having the majority of
9its 1990 equalized assessed value within any county or
10counties contiguous to a county with 3,000,000 or more
11inhabitants. Beginning with the 1995 levy year, "taxing
12district" includes only each non-home rule taxing district
13subject to this Law before the 1995 levy year and each non-home
14rule taxing district not subject to this Law before the 1995
15levy year having the majority of its 1994 equalized assessed
16value in an affected county or counties. Beginning with the
17levy year in which this Law becomes applicable to a taxing
18district as provided in Section 18-213, "taxing district" also
19includes those taxing districts made subject to this Law as
20provided in Section 18-213.
21    "Aggregate extension" for taxing districts to which this
22Law applied before the 1995 levy year means the annual
23corporate extension for the taxing district and those special
24purpose extensions that are made annually for the taxing
25district, excluding special purpose extensions: (a) made for
26the taxing district to pay interest or principal on general

 

 

SB4160- 3 -LRB102 26260 HLH 36140 b

1obligation bonds that were approved by referendum; (b) made
2for any taxing district to pay interest or principal on
3general obligation bonds issued before October 1, 1991; (c)
4made for any taxing district to pay interest or principal on
5bonds issued to refund or continue to refund those bonds
6issued before October 1, 1991; (d) made for any taxing
7district to pay interest or principal on bonds issued to
8refund or continue to refund bonds issued after October 1,
91991 that were approved by referendum; (e) made for any taxing
10district to pay interest or principal on revenue bonds issued
11before October 1, 1991 for payment of which a property tax levy
12or the full faith and credit of the unit of local government is
13pledged; however, a tax for the payment of interest or
14principal on those bonds shall be made only after the
15governing body of the unit of local government finds that all
16other sources for payment are insufficient to make those
17payments; (f) made for payments under a building commission
18lease when the lease payments are for the retirement of bonds
19issued by the commission before October 1, 1991, to pay for the
20building project; (g) made for payments due under installment
21contracts entered into before October 1, 1991; (h) made for
22payments of principal and interest on bonds issued under the
23Metropolitan Water Reclamation District Act to finance
24construction projects initiated before October 1, 1991; (i)
25made for payments of principal and interest on limited bonds,
26as defined in Section 3 of the Local Government Debt Reform

 

 

SB4160- 4 -LRB102 26260 HLH 36140 b

1Act, in an amount not to exceed the debt service extension base
2less the amount in items (b), (c), (e), and (h) of this
3definition for non-referendum obligations, except obligations
4initially issued pursuant to referendum; (j) made for payments
5of principal and interest on bonds issued under Section 15 of
6the Local Government Debt Reform Act; (k) made by a school
7district that participates in the Special Education District
8of Lake County, created by special education joint agreement
9under Section 10-22.31 of the School Code, for payment of the
10school district's share of the amounts required to be
11contributed by the Special Education District of Lake County
12to the Illinois Municipal Retirement Fund under Article 7 of
13the Illinois Pension Code; the amount of any extension under
14this item (k) shall be certified by the school district to the
15county clerk; (l) made to fund expenses of providing joint
16recreational programs for persons with disabilities under
17Section 5-8 of the Park District Code or Section 11-95-14 of
18the Illinois Municipal Code; (m) made for temporary relocation
19loan repayment purposes pursuant to Sections 2-3.77 and
2017-2.2d of the School Code; (n) made for payment of principal
21and interest on any bonds issued under the authority of
22Section 17-2.2d of the School Code; (o) made for contributions
23to a firefighter's pension fund created under Article 4 of the
24Illinois Pension Code, to the extent of the amount certified
25under item (5) of Section 4-134 of the Illinois Pension Code;
26and (p) made for road purposes in the first year after a

 

 

SB4160- 5 -LRB102 26260 HLH 36140 b

1township assumes the rights, powers, duties, assets, property,
2liabilities, obligations, and responsibilities of a road
3district abolished under the provisions of Section 6-133 of
4the Illinois Highway Code.
5    "Aggregate extension" for the taxing districts to which
6this Law did not apply before the 1995 levy year (except taxing
7districts subject to this Law in accordance with Section
818-213) means the annual corporate extension for the taxing
9district and those special purpose extensions that are made
10annually for the taxing district, excluding special purpose
11extensions: (a) made for the taxing district to pay interest
12or principal on general obligation bonds that were approved by
13referendum; (b) made for any taxing district to pay interest
14or principal on general obligation bonds issued before March
151, 1995; (c) made for any taxing district to pay interest or
16principal on bonds issued to refund or continue to refund
17those bonds issued before March 1, 1995; (d) made for any
18taxing district to pay interest or principal on bonds issued
19to refund or continue to refund bonds issued after March 1,
201995 that were approved by referendum; (e) made for any taxing
21district to pay interest or principal on revenue bonds issued
22before March 1, 1995 for payment of which a property tax levy
23or the full faith and credit of the unit of local government is
24pledged; however, a tax for the payment of interest or
25principal on those bonds shall be made only after the
26governing body of the unit of local government finds that all

 

 

SB4160- 6 -LRB102 26260 HLH 36140 b

1other sources for payment are insufficient to make those
2payments; (f) made for payments under a building commission
3lease when the lease payments are for the retirement of bonds
4issued by the commission before March 1, 1995 to pay for the
5building project; (g) made for payments due under installment
6contracts entered into before March 1, 1995; (h) made for
7payments of principal and interest on bonds issued under the
8Metropolitan Water Reclamation District Act to finance
9construction projects initiated before October 1, 1991; (h-4)
10made for stormwater management purposes by the Metropolitan
11Water Reclamation District of Greater Chicago under Section 12
12of the Metropolitan Water Reclamation District Act; (i) made
13for payments of principal and interest on limited bonds, as
14defined in Section 3 of the Local Government Debt Reform Act,
15in an amount not to exceed the debt service extension base less
16the amount in items (b), (c), and (e) of this definition for
17non-referendum obligations, except obligations initially
18issued pursuant to referendum and bonds described in
19subsection (h) of this definition; (j) made for payments of
20principal and interest on bonds issued under Section 15 of the
21Local Government Debt Reform Act; (k) made for payments of
22principal and interest on bonds authorized by Public Act
2388-503 and issued under Section 20a of the Chicago Park
24District Act for aquarium or museum projects and bonds issued
25under Section 20a of the Chicago Park District Act for the
26purpose of making contributions to the pension fund

 

 

SB4160- 7 -LRB102 26260 HLH 36140 b

1established under Article 12 of the Illinois Pension Code; (l)
2made for payments of principal and interest on bonds
3authorized by Public Act 87-1191 or 93-601 and (i) issued
4pursuant to Section 21.2 of the Cook County Forest Preserve
5District Act, (ii) issued under Section 42 of the Cook County
6Forest Preserve District Act for zoological park projects, or
7(iii) issued under Section 44.1 of the Cook County Forest
8Preserve District Act for botanical gardens projects; (m) made
9pursuant to Section 34-53.5 of the School Code, whether levied
10annually or not; (n) made to fund expenses of providing joint
11recreational programs for persons with disabilities under
12Section 5-8 of the Park District Code or Section 11-95-14 of
13the Illinois Municipal Code; (o) made by the Chicago Park
14District for recreational programs for persons with
15disabilities under subsection (c) of Section 7.06 of the
16Chicago Park District Act; (p) made for contributions to a
17firefighter's pension fund created under Article 4 of the
18Illinois Pension Code, to the extent of the amount certified
19under item (5) of Section 4-134 of the Illinois Pension Code;
20(q) made by Ford Heights School District 169 under Section
2117-9.02 of the School Code; and (r) made for the purpose of
22making employer contributions to the Public School Teachers'
23Pension and Retirement Fund of Chicago under Section 34-53 of
24the School Code.
25    "Aggregate extension" for all taxing districts to which
26this Law applies in accordance with Section 18-213, except for

 

 

SB4160- 8 -LRB102 26260 HLH 36140 b

1those taxing districts subject to paragraph (2) of subsection
2(e) of Section 18-213, means the annual corporate extension
3for the taxing district and those special purpose extensions
4that are made annually for the taxing district, excluding
5special purpose extensions: (a) made for the taxing district
6to pay interest or principal on general obligation bonds that
7were approved by referendum; (b) made for any taxing district
8to pay interest or principal on general obligation bonds
9issued before the date on which the referendum making this Law
10applicable to the taxing district is held; (c) made for any
11taxing district to pay interest or principal on bonds issued
12to refund or continue to refund those bonds issued before the
13date on which the referendum making this Law applicable to the
14taxing district is held; (d) made for any taxing district to
15pay interest or principal on bonds issued to refund or
16continue to refund bonds issued after the date on which the
17referendum making this Law applicable to the taxing district
18is held if the bonds were approved by referendum after the date
19on which the referendum making this Law applicable to the
20taxing district is held; (e) made for any taxing district to
21pay interest or principal on revenue bonds issued before the
22date on which the referendum making this Law applicable to the
23taxing district is held for payment of which a property tax
24levy or the full faith and credit of the unit of local
25government is pledged; however, a tax for the payment of
26interest or principal on those bonds shall be made only after

 

 

SB4160- 9 -LRB102 26260 HLH 36140 b

1the governing body of the unit of local government finds that
2all other sources for payment are insufficient to make those
3payments; (f) made for payments under a building commission
4lease when the lease payments are for the retirement of bonds
5issued by the commission before the date on which the
6referendum making this Law applicable to the taxing district
7is held to pay for the building project; (g) made for payments
8due under installment contracts entered into before the date
9on which the referendum making this Law applicable to the
10taxing district is held; (h) made for payments of principal
11and interest on limited bonds, as defined in Section 3 of the
12Local Government Debt Reform Act, in an amount not to exceed
13the debt service extension base less the amount in items (b),
14(c), and (e) of this definition for non-referendum
15obligations, except obligations initially issued pursuant to
16referendum; (i) made for payments of principal and interest on
17bonds issued under Section 15 of the Local Government Debt
18Reform Act; (j) made for a qualified airport authority to pay
19interest or principal on general obligation bonds issued for
20the purpose of paying obligations due under, or financing
21airport facilities required to be acquired, constructed,
22installed or equipped pursuant to, contracts entered into
23before March 1, 1996 (but not including any amendments to such
24a contract taking effect on or after that date); (k) made to
25fund expenses of providing joint recreational programs for
26persons with disabilities under Section 5-8 of the Park

 

 

SB4160- 10 -LRB102 26260 HLH 36140 b

1District Code or Section 11-95-14 of the Illinois Municipal
2Code; (l) made for contributions to a firefighter's pension
3fund created under Article 4 of the Illinois Pension Code, to
4the extent of the amount certified under item (5) of Section
54-134 of the Illinois Pension Code; and (m) made for the taxing
6district to pay interest or principal on general obligation
7bonds issued pursuant to Section 19-3.10 of the School Code.
8    "Aggregate extension" for all taxing districts to which
9this Law applies in accordance with paragraph (2) of
10subsection (e) of Section 18-213 means the annual corporate
11extension for the taxing district and those special purpose
12extensions that are made annually for the taxing district,
13excluding special purpose extensions: (a) made for the taxing
14district to pay interest or principal on general obligation
15bonds that were approved by referendum; (b) made for any
16taxing district to pay interest or principal on general
17obligation bonds issued before March 7, 1997 (the effective
18date of Public Act 89-718); (c) made for any taxing district to
19pay interest or principal on bonds issued to refund or
20continue to refund those bonds issued before March 7, 1997
21(the effective date of Public Act 89-718); (d) made for any
22taxing district to pay interest or principal on bonds issued
23to refund or continue to refund bonds issued after March 7,
241997 (the effective date of Public Act 89-718) if the bonds
25were approved by referendum after March 7, 1997 (the effective
26date of Public Act 89-718); (e) made for any taxing district to

 

 

SB4160- 11 -LRB102 26260 HLH 36140 b

1pay interest or principal on revenue bonds issued before March
27, 1997 (the effective date of Public Act 89-718) for payment
3of which a property tax levy or the full faith and credit of
4the unit of local government is pledged; however, a tax for the
5payment of interest or principal on those bonds shall be made
6only after the governing body of the unit of local government
7finds that all other sources for payment are insufficient to
8make those payments; (f) made for payments under a building
9commission lease when the lease payments are for the
10retirement of bonds issued by the commission before March 7,
111997 (the effective date of Public Act 89-718) to pay for the
12building project; (g) made for payments due under installment
13contracts entered into before March 7, 1997 (the effective
14date of Public Act 89-718); (h) made for payments of principal
15and interest on limited bonds, as defined in Section 3 of the
16Local Government Debt Reform Act, in an amount not to exceed
17the debt service extension base less the amount in items (b),
18(c), and (e) of this definition for non-referendum
19obligations, except obligations initially issued pursuant to
20referendum; (i) made for payments of principal and interest on
21bonds issued under Section 15 of the Local Government Debt
22Reform Act; (j) made for a qualified airport authority to pay
23interest or principal on general obligation bonds issued for
24the purpose of paying obligations due under, or financing
25airport facilities required to be acquired, constructed,
26installed or equipped pursuant to, contracts entered into

 

 

SB4160- 12 -LRB102 26260 HLH 36140 b

1before March 1, 1996 (but not including any amendments to such
2a contract taking effect on or after that date); (k) made to
3fund expenses of providing joint recreational programs for
4persons with disabilities under Section 5-8 of the Park
5District Code or Section 11-95-14 of the Illinois Municipal
6Code; and (l) made for contributions to a firefighter's
7pension fund created under Article 4 of the Illinois Pension
8Code, to the extent of the amount certified under item (5) of
9Section 4-134 of the Illinois Pension Code.
10    "Debt service extension base" means an amount equal to
11that portion of the extension for a taxing district for the
121994 levy year, or for those taxing districts subject to this
13Law in accordance with Section 18-213, except for those
14subject to paragraph (2) of subsection (e) of Section 18-213,
15for the levy year in which the referendum making this Law
16applicable to the taxing district is held, or for those taxing
17districts subject to this Law in accordance with paragraph (2)
18of subsection (e) of Section 18-213 for the 1996 levy year,
19constituting an extension for payment of principal and
20interest on bonds issued by the taxing district without
21referendum, but not including excluded non-referendum bonds.
22For park districts (i) that were first subject to this Law in
231991 or 1995 and (ii) whose extension for the 1994 levy year
24for the payment of principal and interest on bonds issued by
25the park district without referendum (but not including
26excluded non-referendum bonds) was less than 51% of the amount

 

 

SB4160- 13 -LRB102 26260 HLH 36140 b

1for the 1991 levy year constituting an extension for payment
2of principal and interest on bonds issued by the park district
3without referendum (but not including excluded non-referendum
4bonds), "debt service extension base" means an amount equal to
5that portion of the extension for the 1991 levy year
6constituting an extension for payment of principal and
7interest on bonds issued by the park district without
8referendum (but not including excluded non-referendum bonds).
9A debt service extension base established or increased at any
10time pursuant to any provision of this Law, except Section
1118-212, shall be increased each year commencing with the later
12of (i) the 2009 levy year or (ii) the first levy year in which
13this Law becomes applicable to the taxing district, by the
14extension limitation lesser of 5% or the percentage increase
15in the Consumer Price Index during the 12-month calendar year
16preceding the levy year. The debt service extension base may
17be established or increased as provided under Section 18-212.
18"Excluded non-referendum bonds" means (i) bonds authorized by
19Public Act 88-503 and issued under Section 20a of the Chicago
20Park District Act for aquarium and museum projects; (ii) bonds
21issued under Section 15 of the Local Government Debt Reform
22Act; or (iii) refunding obligations issued to refund or to
23continue to refund obligations initially issued pursuant to
24referendum.
25    "Special purpose extensions" include, but are not limited
26to, extensions for levies made on an annual basis for

 

 

SB4160- 14 -LRB102 26260 HLH 36140 b

1unemployment and workers' compensation, self-insurance,
2contributions to pension plans, and extensions made pursuant
3to Section 6-601 of the Illinois Highway Code for a road
4district's permanent road fund whether levied annually or not.
5The extension for a special service area is not included in the
6aggregate extension.
7    "Aggregate extension base" means the taxing district's
8last preceding aggregate extension as adjusted under Sections
918-135, 18-215, 18-230, 18-206, and 18-233. An adjustment
10under Section 18-135 shall be made for the 2007 levy year and
11all subsequent levy years whenever one or more counties within
12which a taxing district is located (i) used estimated
13valuations or rates when extending taxes in the taxing
14district for the last preceding levy year that resulted in the
15over or under extension of taxes, or (ii) increased or
16decreased the tax extension for the last preceding levy year
17as required by Section 18-135(c). Whenever an adjustment is
18required under Section 18-135, the aggregate extension base of
19the taxing district shall be equal to the amount that the
20aggregate extension of the taxing district would have been for
21the last preceding levy year if either or both (i) actual,
22rather than estimated, valuations or rates had been used to
23calculate the extension of taxes for the last levy year, or
24(ii) the tax extension for the last preceding levy year had not
25been adjusted as required by subsection (c) of Section 18-135.
26    Notwithstanding any other provision of law, for levy year

 

 

SB4160- 15 -LRB102 26260 HLH 36140 b

12012, the aggregate extension base for West Northfield School
2District No. 31 in Cook County shall be $12,654,592.
3    Notwithstanding any other provision of law, for levy year
42022, the aggregate extension base of a home equity assurance
5program that levied at least $1,000,000 in property taxes in
6levy year 2019 or 2020 under the Home Equity Assurance Act
7shall be the amount that the program's aggregate extension
8base for levy year 2021 would have been if the program had
9levied a property tax for levy year 2021.
10    "Levy year" has the same meaning as "year" under Section
111-155.
12    "New property" means (i) the assessed value, after final
13board of review or board of appeals action, of new
14improvements or additions to existing improvements on any
15parcel of real property that increase the assessed value of
16that real property during the levy year multiplied by the
17equalization factor issued by the Department under Section
1817-30, (ii) the assessed value, after final board of review or
19board of appeals action, of real property not exempt from real
20estate taxation, which real property was exempt from real
21estate taxation for any portion of the immediately preceding
22levy year, multiplied by the equalization factor issued by the
23Department under Section 17-30, including the assessed value,
24upon final stabilization of occupancy after new construction
25is complete, of any real property located within the
26boundaries of an otherwise or previously exempt military

 

 

SB4160- 16 -LRB102 26260 HLH 36140 b

1reservation that is intended for residential use and owned by
2or leased to a private corporation or other entity, (iii) in
3counties that classify in accordance with Section 4 of Article
4IX of the Illinois Constitution, an incentive property's
5additional assessed value resulting from a scheduled increase
6in the level of assessment as applied to the first year final
7board of review market value, and (iv) any increase in
8assessed value due to oil or gas production from an oil or gas
9well required to be permitted under the Hydraulic Fracturing
10Regulatory Act that was not produced in or accounted for
11during the previous levy year. In addition, the county clerk
12in a county containing a population of 3,000,000 or more shall
13include in the 1997 recovered tax increment value for any
14school district, any recovered tax increment value that was
15applicable to the 1995 tax year calculations.
16    "Qualified airport authority" means an airport authority
17organized under the Airport Authorities Act and located in a
18county bordering on the State of Wisconsin and having a
19population in excess of 200,000 and not greater than 500,000.
20    "Recovered tax increment value" means, except as otherwise
21provided in this paragraph, the amount of the current year's
22equalized assessed value, in the first year after a
23municipality terminates the designation of an area as a
24redevelopment project area previously established under the
25Tax Increment Allocation Redevelopment Act in the Illinois
26Municipal Code, previously established under the Industrial

 

 

SB4160- 17 -LRB102 26260 HLH 36140 b

1Jobs Recovery Law in the Illinois Municipal Code, previously
2established under the Economic Development Project Area Tax
3Increment Act of 1995, or previously established under the
4Economic Development Area Tax Increment Allocation Act, of
5each taxable lot, block, tract, or parcel of real property in
6the redevelopment project area over and above the initial
7equalized assessed value of each property in the redevelopment
8project area. For the taxes which are extended for the 1997
9levy year, the recovered tax increment value for a non-home
10rule taxing district that first became subject to this Law for
11the 1995 levy year because a majority of its 1994 equalized
12assessed value was in an affected county or counties shall be
13increased if a municipality terminated the designation of an
14area in 1993 as a redevelopment project area previously
15established under the Tax Increment Allocation Redevelopment
16Act in the Illinois Municipal Code, previously established
17under the Industrial Jobs Recovery Law in the Illinois
18Municipal Code, or previously established under the Economic
19Development Area Tax Increment Allocation Act, by an amount
20equal to the 1994 equalized assessed value of each taxable
21lot, block, tract, or parcel of real property in the
22redevelopment project area over and above the initial
23equalized assessed value of each property in the redevelopment
24project area. In the first year after a municipality removes a
25taxable lot, block, tract, or parcel of real property from a
26redevelopment project area established under the Tax Increment

 

 

SB4160- 18 -LRB102 26260 HLH 36140 b

1Allocation Redevelopment Act in the Illinois Municipal Code,
2the Industrial Jobs Recovery Law in the Illinois Municipal
3Code, or the Economic Development Area Tax Increment
4Allocation Act, "recovered tax increment value" means the
5amount of the current year's equalized assessed value of each
6taxable lot, block, tract, or parcel of real property removed
7from the redevelopment project area over and above the initial
8equalized assessed value of that real property before removal
9from the redevelopment project area.
10    Except as otherwise provided in this Section, "limiting
11rate" means a fraction the numerator of which is the last
12preceding aggregate extension base (as reduced by Section
1318-207, if applicable) times an amount equal to one plus the
14extension limitation defined in this Section and the
15denominator of which is the current year's equalized assessed
16value of all real property in the territory under the
17jurisdiction of the taxing district during the prior levy
18year. For those taxing districts that reduced their aggregate
19extension for the last preceding levy year, except for school
20districts that reduced their extension for educational
21purposes pursuant to Section 18-206 and taxing districts that
22reduced their aggregate extension pursuant to Section 18-207,
23the highest aggregate extension in any of the last 3 preceding
24levy years shall be used for the purpose of computing the
25limiting rate. The denominator shall not include new property
26or the recovered tax increment value. If a new rate, a rate

 

 

SB4160- 19 -LRB102 26260 HLH 36140 b

1decrease, or a limiting rate increase has been approved at an
2election held after March 21, 2006, then (i) the otherwise
3applicable limiting rate shall be increased by the amount of
4the new rate or shall be reduced by the amount of the rate
5decrease, as the case may be, or (ii) in the case of a limiting
6rate increase, the limiting rate shall be equal to the rate set
7forth in the proposition approved by the voters for each of the
8years specified in the proposition, after which the limiting
9rate of the taxing district shall be calculated as otherwise
10provided. In the case of a taxing district that obtained
11referendum approval for an increased limiting rate on March
1220, 2012, the limiting rate for tax year 2012 shall be the rate
13that generates the approximate total amount of taxes
14extendable for that tax year, as set forth in the proposition
15approved by the voters; this rate shall be the final rate
16applied by the county clerk for the aggregate of all capped
17funds of the district for tax year 2012.
18(Source: P.A. 102-263, eff. 8-6-21; 102-311, eff. 8-6-21;
19102-519, eff. 8-20-21; 102-558, eff. 8-20-21; revised
2010-5-21.)
 
21    (35 ILCS 200/18-205)
22    Sec. 18-205. Referendum to increase the extension
23limitation. A taxing district is limited to an extension
24limitation as defined in Section 18-185 of 5% or the
25percentage increase in the Consumer Price Index during the

 

 

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112-month calendar year preceding the levy year, whichever is
2less. A taxing district may increase its extension limitation
3for one or more levy years if that taxing district holds a
4referendum before the levy date for the first levy year at
5which a majority of voters voting on the issue approves
6adoption of a higher extension limitation. Referenda shall be
7conducted at a regularly scheduled election in accordance with
8the Election Code. The question shall be presented in
9substantially the following manner for all elections held
10after March 21, 2006:
11        Shall the extension limitation under the Property Tax
12    Extension Limitation Law for (insert the legal name,
13    number, if any, and county or counties of the taxing
14    district and geographic or other common name by which a
15    school or community college district is known and referred
16    to), Illinois, be increased from (the extension limitation
17    under item (a) of the definition of extension limitation
18    in Section 18-185) the lesser of 5% or the percentage
19    increase in the Consumer Price Index over the prior levy
20    year to (insert the percentage of the proposed increase)%
21    per year for (insert each levy year for which the
22    increased extension limitation will apply)?
23The votes must be recorded as "Yes" or "No".
24If a majority of voters voting on the issue approves the
25adoption of the increase, the increase shall be applicable for
26each levy year specified.

 

 

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1    The ballot for any question submitted pursuant to this
2Section shall have printed thereon, but not as a part of the
3question submitted, only the following supplemental
4information (which shall be supplied to the election authority
5by the taxing district) in substantially the following form:
6        (1) For the (insert the first levy year for which the
7    increased extension limitation will be applicable) levy
8    year the approximate amount of the additional tax
9    extendable against property containing a single family
10    residence and having a fair market value at the time of the
11    referendum of $100,000 is estimated to be $....
12        (2) Based upon an average annual percentage increase
13    (or decrease) in the market value of such property of ...%
14    (insert percentage equal to the average annual percentage
15    increase or decrease for the prior 3 levy years, at the
16    time the submission of the question is initiated by the
17    taxing district, in the amount of (A) the equalized
18    assessed value of the taxable property in the taxing
19    district less (B) the new property included in the
20    equalized assessed value), the approximate amount of the
21    additional tax extendable against such property for the
22    ... levy year is estimated to be $... and for the ... levy
23    year is estimated to be $....
24    Paragraph (2) shall be included only if the increased
25extension limitation will be applicable for more than one year
26and shall list each levy year for which the increased

 

 

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1extension limitation will be applicable. The additional tax
2shown for each levy year shall be the approximate dollar
3amount of the increase over the amount of the most recently
4completed extension at the time the submission of the question
5is initiated by the taxing district. The approximate amount of
6the additional tax extendable shown in paragraphs (1) and (2)
7shall be calculated by multiplying $100,000 (the fair market
8value of the property without regard to any property tax
9exemptions) by (i) the percentage level of assessment
10prescribed for that property by statute, or by ordinance of
11the county board in counties that classify property for
12purposes of taxation in accordance with Section 4 of Article
13IX of the Illinois Constitution; (ii) the most recent final
14equalization factor certified to the county clerk by the
15Department of Revenue at the time the taxing district
16initiates the submission of the proposition to the electors;
17(iii) the last known aggregate extension base of the taxing
18district at the time the submission of the question is
19initiated by the taxing district; and (iv) the difference
20between the percentage increase proposed in the question and
21the otherwise applicable extension limitation lesser of 5% or
22the percentage increase in the Consumer Price Index for the
23prior levy year (or an estimate of the percentage increase for
24the prior levy year if the increase is unavailable at the time
25the submission of the question is initiated by the taxing
26district); and dividing the result by the last known equalized

 

 

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1assessed value of the taxing district at the time the
2submission of the question is initiated by the taxing
3district. This amendatory Act of the 97th General Assembly is
4intended to clarify the existing requirements of this Section,
5and shall not be construed to validate any prior non-compliant
6referendum language. Any notice required to be published in
7connection with the submission of the question shall also
8contain this supplemental information and shall not contain
9any other supplemental information. Any error, miscalculation,
10or inaccuracy in computing any amount set forth on the ballot
11or in the notice that is not deliberate shall not invalidate or
12affect the validity of any proposition approved. Notice of the
13referendum shall be published and posted as otherwise required
14by law, and the submission of the question shall be initiated
15as provided by law.
16(Source: P.A. 97-1087, eff. 8-24-12.)
 
17    (35 ILCS 200/18-207 new)
18    Sec. 18-207. Reduced aggregate extension base.
19    (a) Upon submission of a petition signed by a number of
20voters of the taxing district that is not less than 10% of the
21votes cast in the taxing district at the immediately preceding
22gubernatorial election, the question of whether a taxing
23district shall reduce its aggregate extension base for the
24purpose of lowering its limiting rate for future years shall
25be submitted to the voters of the taxing district at the next

 

 

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1general or consolidated election. The petition shall set forth
2the amount of the reduction and the levy years for which the
3reduction shall be applicable.
4    (b) The petition shall be filed with the applicable
5election authority, as defined in Section 1-3 of the Election
6Code, or, in the case of multiple election authorities, with
7the State Board of Elections, not more than 10 months nor less
8than 6 months prior to the election at which the question is to
9be submitted to the voters, and its validity shall be
10determined as provided by Article 28 of the Election Code and
11general election law. The election authority or Board, as
12applicable, shall certify the question and the proper election
13authority or authorities shall submit the question to the
14voters. Except as otherwise provided in this Section, this
15referendum shall be subject to all other general election law
16requirements.
17    (c) The proposition seeking to reduce the aggregate
18extension base shall be in substantially the following form:
19        Shall the aggregate extension base used to calculate
20    the limiting rate for (taxing district) under the Property
21    Tax Extension Limitation Law be reduced by (amount of
22    money expressed in U.S. dollars) for (levy year or years)?
23    Votes shall be recorded as "Yes" or "No".
24    If a majority of all votes cast on the proposition are in
25favor of the proposition, then the aggregate extension base
26shall be reduced as provided in the referendum.
 

 

 

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1    (35 ILCS 200/18-212)
2    Sec. 18-212. Referendum on debt service extension base. A
3taxing district may establish or increase its debt service
4extension base if (i) that taxing district holds a referendum
5before the date on which the levy must be filed with the county
6clerk of the county or counties in which the taxing district is
7situated and (ii) a majority of voters voting on the issue
8approves the establishment of or increase in the debt service
9extension base. A debt service extension base established or
10increased by a referendum held pursuant to this Section after
11February 2, 2010, shall be increased each year, commencing
12with the first levy year beginning after the date of the
13referendum, by the extension limitation lesser of 5% or the
14percentage increase in the Consumer Price Index during the
1512-month calendar year preceding the levy year if the optional
16language concerning the annual increase is included in the
17question submitted to the electors of the taxing district.
18Referenda under this Section shall be conducted at a regularly
19scheduled election in accordance with the Election Code. The
20governing body of the taxing district shall certify the
21question to the proper election authorities who shall submit
22the question to the electors of the taxing district in
23substantially the following form:
24    "Shall the debt service extension base under the Property
25    Tax Extension Limitation Law for ... (taxing district

 

 

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1    name) ... for payment of principal and interest on limited
2    bonds be .... ((established at $ ....) . (or) (increased
3    from $ .... to $ ....)) .. for the ..... levy year and all
4    subsequent levy years (optional language: , such debt
5    service extension base to be increased each year by
6    (extension limitation amount) the lesser of 5% or the
7    percentage increase in the Consumer Price Index during the
8    12-month calendar year preceding the levy year)?"
9    Votes on the question shall be recorded as "Yes" or "No".
10    If a majority of voters voting on the issue approves the
11establishment of or increase in the debt service extension
12base, the establishment of or increase in the debt service
13extension base shall be applicable for the levy years
14specified.
15(Source: P.A. 96-1202, eff. 7-22-10.)
 
16    Section 99. Effective date. This Act takes effect upon
17becoming law.