Bill Title: Amends the Property Tax Extension Limitation Law in the Property Tax Code. Provides that if (i) the total equalized assessed value of all taxable property in the taxing district for the current levy year is less than the total equalized assessed value of all taxable property in the taxing district for the previous levy year, or (ii) the median equalized assessed value of all taxable property in the taxing district for the current levy year and the 2 levy years immediately preceding the current levy year is less than the median equalized assessed value of all taxable property in the taxing district for the 3 levy years immediately preceding that 3-year period, then the extension limitation is (a) 0% or (b) the rate of increase approved by voters (instead of the lesser of 5% or the percentage increase in the Consumer Price Index during the 12-month calendar year preceding the levy year or the rate of increase approved by the voters). Effective immediately.

Spectrum: Slight Partisan Bill (Democrat 2-1)

Status: (Failed) 2019-01-08 - Session Sine Die [HB0419 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2017-01-12	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois HB0419

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB0419 currently on file.

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