Bill Title: Amends the Property Tax Extension Limitation Law in the Property Tax Code. Requires the corporate authorities of a taxing district that is subject to the Law to adopt a limiting rate by ordinance or resolution if the percentage change in the equalized assessed value of all property within the taxing district during the 12-month calendar year preceding the levy year is less than the percentage change in the Consumer Price Index during that same period of time. Provides that the limiting rate may not exceed the maximum rate permitted under the Property Tax Extension Limitation Law. Contains provisions concerning notice. Provides that the rate extended for the sum of all of the funds included in the taxing district's aggregate extension may not exceed the limiting rate adopted by the taxing district. Effective immediately.

Sponsorship: Partisan Bill (Republican 1)

Status: (Failed) 2013-01-08 - Session Sine Die [HB5697 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2012-02-16	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois HB5697

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB5697 currently on file.