Bill Title: 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.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2020-06-23 - Rule 19(b) / Re-referred to Rules Committee
[HB3656 Detail]
Bill Drafts
Revision | Date | Format | Source | View |
Introduced | 2019-02-15 | HTML/Text | Link | View |
Amendments
Amendment | Date | Disposition | Format | Source | View |
No bill amendments currently on file for Illinois HB3656 |
Supplemental Documents
Title | Description | Date | Format | Source | View |
No supplemental documents for Illinois HB3656 currently on file. |
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