Bill Title: Amends the Property Tax Extension Limitation Law in the Property Tax Code. Provides that, for levy years 2015 and later, the taxing district's aggregate extension base is the greater of (A) the taxing district's last preceding aggregate extension limit or (B) the taxing district's last preceding aggregate extension, subject to adjustments for taxing districts in 2 or more counties, merged or consolidated taxing districts, and adjustments by a rate increase or decrease factor. Provides that the term "aggregate extension limit" means the district's last preceding aggregate extension if the taxing district had utilized the maximum limiting rate permitted without referendum.

Sponsorship: Partisan Bill (Democrat 1)

Status: (Failed) 2014-12-03 - Session Sine Die [HB4515 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2014-01-31	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois HB4515

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB4515 currently on file.