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]
Bill Drafts
| Revision | Date | Format | Source | View |
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| Introduced | 2018-02-14 | HTML/Text | Link | View |
Amendments
| Amendment | Date | Disposition | Format | Source | View |
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| No bill amendments currently on file for Illinois HB4996 |
Supplemental Documents
| Title | Description | Date | Format | Source | View |
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| No supplemental documents for Illinois HB4996 currently on file. |
