Illinois General Assembly - Full Text of SB2878

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Full Text of SB2878 103rd General Assembly

Introduced   Engrossed
Senate Amendment 001   House Amendment 001
Printer-Friendly Version  PDF  Bill Status

SB2878ham001 103RD GENERAL ASSEMBLY
Rep. Emanuel "Chris" Welch
Filed: 5/20/2024

10300SB2878ham001 LRB103 35657 HLH 73748 a

1 AMENDMENT TO SENATE BILL 2878
2     AMENDMENT NO. ______. Amend Senate Bill 2878 by replacing
3 everything after the enacting clause with the following:

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

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