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: (Failed) 2019-01-08 - Session Sine Die [HB2397 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2017-02-03	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois HB2397

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB2397 currently on file.

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