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.

Sponsorship: Partisan Bill (Democrat 1)

Status: (Failed) 2019-01-08 - Session Sine Die [HB4996 Detail]

Text: Latest bill text (Introduced) [HTML]

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