Bill Title: Amends the Property Tax Code. Provides that, for the purposes of the definition of 33 1/3%, the fair cash value of property is determined by the lesser of: (1) the Department of Revenue's sales ratio studies for the 3 most recent years preceding the assessment year; or (2) the valuation of the property in the prior year (under the current law, the fair cash value is based on the sales ratio studies).

Sponsorship: Partisan Bill (Republican 8)

Status: (Failed) 2013-01-08 - Session Sine Die [HB5049 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2012-02-07	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois HB5049

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB5049 currently on file.