Bill Text: IL HB3096 | 2019-2020 | 101st General Assembly | Engrossed


Bill Title: Amends the Property Tax Extension Limitation Law in the Property Tax Code. Provides that, on and after January 1, 2020, a referendum to increase the district's aggregate extension may be submitted to the voters. Effective January 1, 2020.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Engrossed) 2019-07-02 - Rule 19(b) / Re-referred to Rules Committee [HB3096 Detail]

Download: Illinois-2019-HB3096-Engrossed.html



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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 18-185 and by adding Section 18-190.3 as follows:
6 (35 ILCS 200/18-185)
7 Sec. 18-185. Short title; definitions. This Division 5 may
8be cited as the Property Tax Extension Limitation Law. As used
9in this Division 5:
10 "Consumer Price Index" means the Consumer Price Index for
11All Urban Consumers for all items published by the United
12States Department of Labor.
13 "Extension limitation" means (a) the lesser of 5% or the
14percentage increase in the Consumer Price Index during the
1512-month calendar year preceding the levy year or (b) the rate
16of increase approved by voters under Section 18-205.
17 "Affected county" means a county of 3,000,000 or more
18inhabitants or a county contiguous to a county of 3,000,000 or
19more inhabitants.
20 "Taxing district" has the same meaning provided in Section
211-150, except as otherwise provided in this Section. For the
221991 through 1994 levy years only, "taxing district" includes
23only each non-home rule taxing district having the majority of

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1its 1990 equalized assessed value within any county or counties
2contiguous to a county with 3,000,000 or more inhabitants.
3Beginning with the 1995 levy year, "taxing district" includes
4only each non-home rule taxing district subject to this Law
5before the 1995 levy year and each non-home rule taxing
6district not subject to this Law before the 1995 levy year
7having the majority of its 1994 equalized assessed value in an
8affected county or counties. Beginning with the levy year in
9which this Law becomes applicable to a taxing district as
10provided in Section 18-213, "taxing district" also includes
11those taxing districts made subject to this Law as provided in
12Section 18-213.
13 "Aggregate extension" for taxing districts to which this
14Law applied before the 1995 levy year means the annual
15corporate extension for the taxing district and those special
16purpose extensions that are made annually for the taxing
17district, excluding special purpose extensions: (a) made for
18the taxing district to pay interest or principal on general
19obligation bonds that were approved by referendum; (b) made for
20any taxing district to pay interest or principal on general
21obligation bonds issued before October 1, 1991; (c) made for
22any taxing district to pay interest or principal on bonds
23issued to refund or continue to refund those bonds issued
24before October 1, 1991; (d) made for any taxing district to pay
25interest or principal on bonds issued to refund or continue to
26refund bonds issued after October 1, 1991 that were approved by

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1referendum; (e) made for any taxing district to pay interest or
2principal on revenue bonds issued before October 1, 1991 for
3payment of which a property tax levy or the full faith and
4credit of the unit of local government is pledged; however, a
5tax for the payment of interest or principal on those bonds
6shall be made only after the governing body of the unit of
7local government finds that all other sources for payment are
8insufficient to make those payments; (f) made for payments
9under a building commission lease when the lease payments are
10for the retirement of bonds issued by the commission before
11October 1, 1991, to pay for the building project; (g) made for
12payments due under installment contracts entered into before
13October 1, 1991; (h) made for payments of principal and
14interest on bonds issued under the Metropolitan Water
15Reclamation District Act to finance construction projects
16initiated before October 1, 1991; (i) made for payments of
17principal and interest on limited bonds, as defined in Section
183 of the Local Government Debt Reform Act, in an amount not to
19exceed the debt service extension base less the amount in items
20(b), (c), (e), and (h) of this definition for non-referendum
21obligations, except obligations initially issued pursuant to
22referendum; (j) made for payments of principal and interest on
23bonds issued under Section 15 of the Local Government Debt
24Reform Act; (k) made by a school district that participates in
25the Special Education District of Lake County, created by
26special education joint agreement under Section 10-22.31 of the

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1School Code, for payment of the school district's share of the
2amounts required to be contributed by the Special Education
3District of Lake County to the Illinois Municipal Retirement
4Fund under Article 7 of the Illinois Pension Code; the amount
5of any extension under this item (k) shall be certified by the
6school district to the county clerk; (l) made to fund expenses
7of providing joint recreational programs for persons with
8disabilities under Section 5-8 of the Park District Code or
9Section 11-95-14 of the Illinois Municipal Code; (m) made for
10temporary relocation loan repayment purposes pursuant to
11Sections 2-3.77 and 17-2.2d of the School Code; (n) made for
12payment of principal and interest on any bonds issued under the
13authority of Section 17-2.2d of the School Code; (o) made for
14contributions to a firefighter's pension fund created under
15Article 4 of the Illinois Pension Code, to the extent of the
16amount certified under item (5) of Section 4-134 of the
17Illinois Pension Code; and (p) made for road purposes in the
18first year after a township assumes the rights, powers, duties,
19assets, property, liabilities, obligations, and
20responsibilities of a road district abolished under the
21provisions of Section 6-133 of the Illinois Highway Code.
22 "Aggregate extension" for the taxing districts to which
23this Law did not apply before the 1995 levy year (except taxing
24districts subject to this Law in accordance with Section
2518-213) means the annual corporate extension for the taxing
26district and those special purpose extensions that are made

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1annually for the taxing district, excluding special purpose
2extensions: (a) made for the taxing district to pay interest or
3principal on general obligation bonds that were approved by
4referendum; (b) made for any taxing district to pay interest or
5principal on general obligation bonds issued before March 1,
61995; (c) made for any taxing district to pay interest or
7principal on bonds issued to refund or continue to refund those
8bonds issued before March 1, 1995; (d) made for any taxing
9district to pay interest or principal on bonds issued to refund
10or continue to refund bonds issued after March 1, 1995 that
11were approved by referendum; (e) made for any taxing district
12to pay interest or principal on revenue bonds issued before
13March 1, 1995 for payment of which a property tax levy or the
14full faith and credit of the unit of local government is
15pledged; however, a tax for the payment of interest or
16principal on those bonds shall be made only after the governing
17body of the unit of local government finds that all other
18sources for payment are insufficient to make those payments;
19(f) made for payments under a building commission lease when
20the lease payments are for the retirement of bonds issued by
21the commission before March 1, 1995 to pay for the building
22project; (g) made for payments due under installment contracts
23entered into before March 1, 1995; (h) made for payments of
24principal and interest on bonds issued under the Metropolitan
25Water Reclamation District Act to finance construction
26projects initiated before October 1, 1991; (h-4) made for

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1stormwater management purposes by the Metropolitan Water
2Reclamation District of Greater Chicago under Section 12 of the
3Metropolitan Water Reclamation District Act; (i) made for
4payments of principal and interest on limited bonds, as defined
5in Section 3 of the Local Government Debt Reform Act, in an
6amount not to exceed the debt service extension base less the
7amount in items (b), (c), and (e) of this definition for
8non-referendum obligations, except obligations initially
9issued pursuant to referendum and bonds described in subsection
10(h) of this definition; (j) made for payments of principal and
11interest on bonds issued under Section 15 of the Local
12Government Debt Reform Act; (k) made for payments of principal
13and interest on bonds authorized by Public Act 88-503 and
14issued under Section 20a of the Chicago Park District Act for
15aquarium or museum projects; (l) made for payments of principal
16and interest on bonds authorized by Public Act 87-1191 or
1793-601 and (i) issued pursuant to Section 21.2 of the Cook
18County Forest Preserve District Act, (ii) issued under Section
1942 of the Cook County Forest Preserve District Act for
20zoological park projects, or (iii) issued under Section 44.1 of
21the Cook County Forest Preserve District Act for botanical
22gardens projects; (m) made pursuant to Section 34-53.5 of the
23School Code, whether levied annually or not; (n) made to fund
24expenses of providing joint recreational programs for persons
25with disabilities under Section 5-8 of the Park District Code
26or Section 11-95-14 of the Illinois Municipal Code; (o) made by

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1the Chicago Park District for recreational programs for persons
2with disabilities under subsection (c) of Section 7.06 of the
3Chicago Park District Act; (p) made for contributions to a
4firefighter's pension fund created under Article 4 of the
5Illinois Pension Code, to the extent of the amount certified
6under item (5) of Section 4-134 of the Illinois Pension Code;
7(q) made by Ford Heights School District 169 under Section
817-9.02 of the School Code; and (r) made for the purpose of
9making employer contributions to the Public School Teachers'
10Pension and Retirement Fund of Chicago under Section 34-53 of
11the School Code.
12 "Aggregate extension" for all taxing districts to which
13this Law applies in accordance with Section 18-213, except for
14those taxing districts subject to paragraph (2) of subsection
15(e) of Section 18-213, means the annual corporate extension for
16the taxing district and those special purpose extensions that
17are made annually for the taxing district, excluding special
18purpose extensions: (a) made for the taxing district to pay
19interest or principal on general obligation bonds that were
20approved by referendum; (b) made for any taxing district to pay
21interest or principal on general obligation bonds issued before
22the date on which the referendum making this Law applicable to
23the taxing district is held; (c) made for any taxing district
24to pay interest or principal on bonds issued to refund or
25continue to refund those bonds issued before the date on which
26the referendum making this Law applicable to the taxing

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1district is held; (d) made for any taxing district to pay
2interest or principal on bonds issued to refund or continue to
3refund bonds issued after the date on which the referendum
4making this Law applicable to the taxing district is held if
5the bonds were approved by referendum after the date on which
6the referendum making this Law applicable to the taxing
7district is held; (e) made for any taxing district to pay
8interest or principal on revenue bonds issued before the date
9on which the referendum making this Law applicable to the
10taxing district is held for payment of which a property tax
11levy or the full faith and credit of the unit of local
12government is pledged; however, a tax for the payment of
13interest or principal on those bonds shall be made only after
14the governing body of the unit of local government finds that
15all other sources for payment are insufficient to make those
16payments; (f) made for payments under a building commission
17lease when the lease payments are for the retirement of bonds
18issued by the commission before the date on which the
19referendum making this Law applicable to the taxing district is
20held to pay for the building project; (g) made for payments due
21under installment contracts entered into before the date on
22which the referendum making this Law applicable to the taxing
23district is held; (h) made for payments of principal and
24interest on limited bonds, as defined in Section 3 of the Local
25Government Debt Reform Act, in an amount not to exceed the debt
26service extension base less the amount in items (b), (c), and

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1(e) of this definition for non-referendum obligations, except
2obligations initially issued pursuant to referendum; (i) made
3for payments of principal and interest on bonds issued under
4Section 15 of the Local Government Debt Reform Act; (j) made
5for a qualified airport authority to pay interest or principal
6on general obligation bonds issued for the purpose of paying
7obligations due under, or financing airport facilities
8required to be acquired, constructed, installed or equipped
9pursuant to, contracts entered into before March 1, 1996 (but
10not including any amendments to such a contract taking effect
11on or after that date); (k) made to fund expenses of providing
12joint recreational programs for persons with disabilities
13under Section 5-8 of the Park District Code or Section 11-95-14
14of the Illinois Municipal Code; (l) made for contributions to a
15firefighter's pension fund created under Article 4 of the
16Illinois Pension Code, to the extent of the amount certified
17under item (5) of Section 4-134 of the Illinois Pension Code;
18and (m) made for the taxing district to pay interest or
19principal on general obligation bonds issued pursuant to
20Section 19-3.10 of the School Code.
21 "Aggregate extension" for all taxing districts to which
22this Law applies in accordance with paragraph (2) of subsection
23(e) of Section 18-213 means the annual corporate extension for
24the taxing district and those special purpose extensions that
25are made annually for the taxing district, excluding special
26purpose extensions: (a) made for the taxing district to pay

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1interest or principal on general obligation bonds that were
2approved by referendum; (b) made for any taxing district to pay
3interest or principal on general obligation bonds issued before
4the effective date of this amendatory Act of 1997; (c) made for
5any taxing district to pay interest or principal on bonds
6issued to refund or continue to refund those bonds issued
7before the effective date of this amendatory Act of 1997; (d)
8made for any taxing district to pay interest or principal on
9bonds issued to refund or continue to refund bonds issued after
10the effective date of this amendatory Act of 1997 if the bonds
11were approved by referendum after the effective date of this
12amendatory Act of 1997; (e) made for any taxing district to pay
13interest or principal on revenue bonds issued before the
14effective date of this amendatory Act of 1997 for payment of
15which a property tax levy or the full faith and credit of the
16unit of local government is pledged; however, a tax for the
17payment of interest or principal on those bonds shall be made
18only after the governing body of the unit of local government
19finds that all other sources for payment are insufficient to
20make those payments; (f) made for payments under a building
21commission lease when the lease payments are for the retirement
22of bonds issued by the commission before the effective date of
23this amendatory Act of 1997 to pay for the building project;
24(g) made for payments due under installment contracts entered
25into before the effective date of this amendatory Act of 1997;
26(h) made for payments of principal and interest on limited

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1bonds, as defined in Section 3 of the Local Government Debt
2Reform Act, in an amount not to exceed the debt service
3extension base less the amount in items (b), (c), and (e) of
4this definition for non-referendum obligations, except
5obligations initially issued pursuant to referendum; (i) made
6for payments of principal and interest on bonds issued under
7Section 15 of the Local Government Debt Reform Act; (j) made
8for a qualified airport authority to pay interest or principal
9on general obligation bonds issued for the purpose of paying
10obligations due under, or financing airport facilities
11required to be acquired, constructed, installed or equipped
12pursuant to, contracts entered into before March 1, 1996 (but
13not including any amendments to such a contract taking effect
14on or after that date); (k) made to fund expenses of providing
15joint recreational programs for persons with disabilities
16under Section 5-8 of the Park District Code or Section 11-95-14
17of the Illinois Municipal Code; and (l) made for contributions
18to a firefighter's pension fund created under Article 4 of the
19Illinois Pension Code, to the extent of the amount certified
20under item (5) of Section 4-134 of the Illinois Pension Code.
21 "Debt service extension base" means an amount equal to that
22portion of the extension for a taxing district for the 1994
23levy year, or for those taxing districts subject to this Law in
24accordance with Section 18-213, except for those subject to
25paragraph (2) of subsection (e) of Section 18-213, for the levy
26year in which the referendum making this Law applicable to the

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1taxing district is held, or for those taxing districts subject
2to this Law in accordance with paragraph (2) of subsection (e)
3of Section 18-213 for the 1996 levy year, constituting an
4extension for payment of principal and interest on bonds issued
5by the taxing district without referendum, but not including
6excluded non-referendum bonds. For park districts (i) that were
7first subject to this Law in 1991 or 1995 and (ii) whose
8extension for the 1994 levy year for the payment of principal
9and interest on bonds issued by the park district without
10referendum (but not including excluded non-referendum bonds)
11was less than 51% of the amount for the 1991 levy year
12constituting an extension for payment of principal and interest
13on bonds issued by the park district without referendum (but
14not including excluded non-referendum bonds), "debt service
15extension base" means an amount equal to that portion of the
16extension for the 1991 levy year constituting an extension for
17payment of principal and interest on bonds issued by the park
18district without referendum (but not including excluded
19non-referendum bonds). A debt service extension base
20established or increased at any time pursuant to any provision
21of this Law, except Section 18-212, shall be increased each
22year commencing with the later of (i) the 2009 levy year or
23(ii) the first levy year in which this Law becomes applicable
24to the taxing district, by the lesser of 5% or the percentage
25increase in the Consumer Price Index during the 12-month
26calendar year preceding the levy year. The debt service

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1extension base may be established or increased as provided
2under Section 18-212. "Excluded non-referendum bonds" means
3(i) bonds authorized by Public Act 88-503 and issued under
4Section 20a of the Chicago Park District Act for aquarium and
5museum projects; (ii) bonds issued under Section 15 of the
6Local Government Debt Reform Act; or (iii) refunding
7obligations issued to refund or to continue to refund
8obligations initially issued pursuant to referendum.
9 "Special purpose extensions" include, but are not limited
10to, extensions for levies made on an annual basis for
11unemployment and workers' compensation, self-insurance,
12contributions to pension plans, and extensions made pursuant to
13Section 6-601 of the Illinois Highway Code for a road
14district's permanent road fund whether levied annually or not.
15The extension for a special service area is not included in the
16aggregate extension.
17 "Aggregate extension base" means the taxing district's
18last preceding aggregate extension as adjusted under Sections
1918-135, 18-215, 18-230, and 18-206. An adjustment under Section
2018-135 shall be made for the 2007 levy year and all subsequent
21levy years whenever one or more counties within which a taxing
22district is located (i) used estimated valuations or rates when
23extending taxes in the taxing district for the last preceding
24levy year that resulted in the over or under extension of
25taxes, or (ii) increased or decreased the tax extension for the
26last preceding levy year as required by Section 18-135(c).

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1Whenever an adjustment is required under Section 18-135, the
2aggregate extension base of the taxing district shall be equal
3to the amount that the aggregate extension of the taxing
4district would have been for the last preceding levy year if
5either or both (i) actual, rather than estimated, valuations or
6rates had been used to calculate the extension of taxes for the
7last levy year, or (ii) the tax extension for the last
8preceding levy year had not been adjusted as required by
9subsection (c) of Section 18-135.
10 Notwithstanding any other provision of law, for levy year
112012, the aggregate extension base for West Northfield School
12District No. 31 in Cook County shall be $12,654,592.
13 "Levy year" has the same meaning as "year" under Section
141-155.
15 "New property" means (i) the assessed value, after final
16board of review or board of appeals action, of new improvements
17or additions to existing improvements on any parcel of real
18property that increase the assessed value of that real property
19during the levy year multiplied by the equalization factor
20issued by the Department under Section 17-30, (ii) the assessed
21value, after final board of review or board of appeals action,
22of real property not exempt from real estate taxation, which
23real property was exempt from real estate taxation for any
24portion of the immediately preceding levy year, multiplied by
25the equalization factor issued by the Department under Section
2617-30, including the assessed value, upon final stabilization

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

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

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1real property from a redevelopment project area established
2under the Tax Increment Allocation Development Act in the
3Illinois Municipal Code, the Industrial Jobs Recovery Law in
4the Illinois Municipal Code, or the Economic Development Area
5Tax Increment Allocation Act, "recovered tax increment value"
6means the amount of the current year's equalized assessed value
7of each taxable lot, block, tract, or parcel of real property
8removed from the redevelopment project area over and above the
9initial equalized assessed value of that real property before
10removal from the redevelopment project area.
11 Except as otherwise provided in this Section, "limiting
12rate" means a fraction the numerator of which is the last
13preceding aggregate extension base times an amount equal to one
14plus the extension 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 year.
18If an increase in the district's aggregate extension has been
19approved by referendum on or after January 1, 2020, then, for
20the year for which the increase has been approved, the limiting
21rate for that district shall be a fraction, the numerator of
22which is the sum of (i) the last preceding aggregate extension
23base times an amount equal to one plus the extension limitation
24defined in this Section and (ii) the amount of the increase
25approved by referendum under Section 18-190.3 of this Law, and
26the denominator of which is the current year's equalized

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1assessed value of all real property in the territory under the
2jurisdiction of the taxing district during the prior levy year.
3For those taxing districts that reduced their aggregate
4extension for the last preceding levy year, except for school
5districts that reduced their extension for educational
6purposes pursuant to Section 18-206, the highest aggregate
7extension in any of the last 3 preceding levy years shall be
8used for the purpose of computing the limiting rate. The
9denominator shall not include new property or the recovered tax
10increment value. If a new rate, a rate decrease, or a limiting
11rate increase has been approved at an election held after March
1221, 2006, then (i) the otherwise applicable limiting rate shall
13be increased by the amount of the new rate or shall be reduced
14by the amount of the rate decrease, as the case may be, or (ii)
15in the case of a limiting rate increase, the limiting rate
16shall be equal to the rate set forth in the proposition
17approved by the voters for each of the years specified in the
18proposition, after which the limiting rate of the taxing
19district shall be calculated as otherwise provided. In the case
20of a taxing district that obtained referendum approval for an
21increased limiting rate on March 20, 2012, the limiting rate
22for tax year 2012 shall be the rate that generates the
23approximate total amount of taxes extendable for that tax year,
24as set forth in the proposition approved by the voters; this
25rate shall be the final rate applied by the county clerk for
26the aggregate of all capped funds of the district for tax year

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12012.
2(Source: P.A. 99-143, eff. 7-27-15; 99-521, eff. 6-1-17;
3100-465, eff. 8-31-17.)
4 (35 ILCS 200/18-190.3 new)
5 Sec. 18-190.3. Direct referendum; increased aggregate
6extension. As an alternative to the procedures set forth in
7Sections 18-190 and 18-205, a taxing district may increase its
8aggregate extension to an amount that exceeds the amount that
9would otherwise be permitted under this Law if the taxing
10district obtains referendum approval as provided in this
11Section.
12 The proposition seeking to obtain referendum approval to
13increase the aggregate extension shall be in substantially the
14following form:
15 "Shall the aggregate extension (the total dollar
16 amount levied by the district for each of the tax funds
17 included under the Property Tax Limitation Law)
18 for...(insert legal name, number, if any, and county or
19 counties of taxing district and geographic or other common
20 name by which a school or community college district is
21 known and referred to), Illinois, be increased by (insert
22 the amount of increase sought) for levy year...(insert the
23 levy year for which the increase will take effect)?"
24 The votes must be recorded as "Yes" or "No".
25 The ballot for any proposition submitted pursuant to this

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1Section shall have printed thereon, but not as a part of the
2proposition submitted, only the following supplemental
3information (which shall be supplied to the election authority
4by the taxing district) in substantially the following form:
5 "(1) The amount of taxes extended which were subject to
6 the Property Tax Cap (Property Tax Extension Limitation
7 Law) in levy year (insert most recent levy year) was
8 (insert the most recent levy year's aggregate extension
9 base). If the proposition is not approved, then the taxing
10 district may increase its extension by the lesser of 5% or
11 the percentage increase in the Consumer Price Index during
12 the 12-month calendar year preceding (insert levy year). If
13 the proposition is approved, then the taxing district may
14 increase its extension in levy year (insert levy year) by
15 an additional (insert the amount of increase sought).
16 (2) For the...(insert levy year for which the increase
17 will be applicable) levy year, the approximate amount of
18 the additional tax extendable against property containing
19 a single family residence and having a fair market value at
20 the time of the referendum of $100,000 is estimated to be
21 (insert amount).".
22 The approximate amount of the additional taxes extendable
23shown in paragraph (2) shall be calculated by multiplying
24$100,000 (the fair market value of the property without regard
25to any property tax exemptions) by (i) the percentage level of
26assessment prescribed for that property by statute, or by

HB3096 Engrossed- 21 -LRB101 09668 HLH 54767 b
1ordinance of the county board in counties that classify
2property for purposes of taxation in accordance with Section 4
3of Article IX of the Illinois Constitution; (ii) the most
4recent final equalization factor certified to the county clerk
5by the Department of Revenue at the time the taxing district
6initiates the submission of the proposition to the electors;
7and (iii) the increase in the aggregate extension proposed in
8the question; and dividing the result by the last known
9equalized assessed value of the taxing district at the time the
10submission of the question is initiated by the taxing district.
11Any notice required to be published in connection with the
12submission of the proposition shall also contain this
13supplemental information and shall not contain any other
14supplemental information regarding the proposition. Any error,
15miscalculation, or inaccuracy in computing any amount set forth
16on the ballot and in the notice that is not deliberate shall
17not invalidate or affect the validity of any proposition
18approved. Notice of the referendum shall be published and
19posted as otherwise required by law, and the submission of the
20proposition shall be initiated as provided by law.
21 If a majority of all ballots cast on the proposition are in
22favor of the proposition, then the district may increase its
23aggregate extension as provided in the referendum.
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