Illinois House Bill 2530 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on February 18 2015 - 25% progression, died in committee
Action: 2015-03-27 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Property Tax Extension Limitation Law in the Property Tax Code. Requires the corporate authorities of a taxing district that is subject to the Law to adopt a limiting rate by ordinance or resolution if the percentage change in the equalized assessed value of all property within the taxing district during the 12-month calendar year preceding the levy year is less than the percentage change in the Consumer Price Index during that same period of time. Provides that the limiting rate may not exceed the maximum rate permitted under the Property Tax Extension Limitation Law. Contains provisions concerning notice. Provides that the rate extended for the sum of all of the funds included in the taxing district's aggregate extension may not exceed the limiting rate adopted by the taxing district. Effective immediately.

PTELL-DISTRICTS ADOPT RATE

Rep. Michael Tryon [R]

Date	Chamber	Action
2015-03-27	House	Rule 19(a) / Re-referred to Rules Committee
2015-03-06	House	To Property Tax Subcommittee
2015-03-02	House	Assigned to Revenue & Finance Committee
2015-02-18	House	Referred to Rules Committee
2015-02-18	House	First Reading
2015-02-18	House	Filed with the Clerk by Rep. Michael W. Tryon

Chapter	Article	Section	Citation Type	Statute Text
35	200	18-185	Amended Code	Citation Text
35	200	18-195	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2530&GAID=13&DocTypeID=HB&SessionID=88&GA=99
Text	https://www.ilga.gov/legislation/99/HB/09900HB2530.htm