IL HB5049 | 2011-2012 | 97th General Assembly

Status

Completed Legislative Action
Sponsorship: Partisan Bill (Republican 8)
Status: Failed on January 8 2013 - 100% progression
Action: 2013-01-08 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the Property Tax Code. Provides that, for the purposes of the definition of 33 1/3%, the fair cash value of property is determined by the lesser of: (1) the Department of Revenue's sales ratio studies for the 3 most recent years preceding the assessment year; or (2) the valuation of the property in the prior year (under the current law, the fair cash value is based on the sales ratio studies).

Tracking Information

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Title

PROP TX-ASSESSMENTS

Sponsors


History

DateChamberAction
2013-01-08HouseSession Sine Die
2012-02-21HouseAdded Co-Sponsor Rep. Sidney H. Mathias
2012-02-21HouseAdded Co-Sponsor Rep. Timothy L. Schmitz
2012-02-21HouseAdded Co-Sponsor Rep. Tom Cross
2012-02-21HouseAdded Chief Co-Sponsor Rep. JoAnn D. Osmond
2012-02-21HouseAdded Chief Co-Sponsor Rep. Raymond Poe
2012-02-16HouseAdded Chief Co-Sponsor Rep. Angelo Saviano
2012-02-16HouseAdded Chief Co-Sponsor Rep. Randy Ramey, Jr.
2012-02-07HouseReferred to Rules Committee
2012-02-07HouseFirst Reading
2012-02-07HouseFiled with the Clerk by Rep. Dennis M. Reboletti

Code Citations

ChapterArticleSectionCitation TypeStatute Text
352001-55Amended CodeCitation Text

Illinois State Sources


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