IL HB5043 | 2019-2020 | 101st General Assembly

Status

Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on February 13 2020 - 25% progression
Action: 2020-02-18 - Referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the Property Tax Code. Provides that any taxing district may abate any portion of its taxes in any given year when the initial levy request for that year has subsequently been found to be in excess of the funds required for that year. Provides that any such abatement shall be included in the district's aggregate extension base for purposes of the Property Tax Extension Limitation Law. Provides for a supplemental levy if the issuance of a certificate of error, a court order, or a final administrative decision of the Property Tax Appeal Board results in a refund from the taxing district of a portion of the property tax revenue distributed to the taxing district. Effective immediately.

Tracking Information

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Title

PROP TX-EXCESS FUNDS ABATEMENT

Sponsors


History

DateChamberAction
2020-02-18HouseReferred to Rules Committee
2020-02-18HouseFirst Reading
2020-02-13HouseFiled with the Clerk by Rep. Grant Wehrli

Code Citations

ChapterArticleSectionCitation TypeStatute Text
3520018-165Amended CodeCitation Text
3520018-185Amended CodeCitation Text
3520018-233New CodeSee Bill Text

Illinois State Sources


Bill Comments

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