Illinois General Assembly - Full Text of HB1539
Illinois General Assembly

Previous General Assemblies

Full Text of HB1539  102nd General Assembly

HB1539 102ND GENERAL ASSEMBLY


 


 
102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
HB1539

 

Introduced 2/17/2021, by Rep. Emanuel Chris Welch

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 200/1-55

    Amends the Property Tax Code. Makes a technical change in a Section concerning the definition of "33 1/3%".


LRB102 03555 HLH 13568 b

 

 

A BILL FOR

 

HB1539LRB102 03555 HLH 13568 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
5Section 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
8property, as determined by the Department's sales ratio
9studies for the 3 most recent years preceding the assessment
10year, adjusted to take into account any changes in assessment
11levels implemented since the data for the studies were
12collected.
13(Source: P.A. 86-1481; 87-877; 88-455.)