Comments: IL HB2397 | 2017-2018 | 100th General Assembly

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: Bipartisan Bill

Status: (Introduced) 2017-05-31 - Rule 19(a) / Re-referred to Rules Committee [HB2397 Detail]

Text: Latest bill text (Introduced) [HTML]

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