Bill Title: Amends the Property Tax Extension Limitation Law in the Property Tax Code. Provides that if (i) the total equalized assessed value of all taxable property in the taxing district for the current levy year is less than the total equalized assessed value of all taxable property in the taxing district for the previous levy year, or (ii) the median equalized assessed value of all taxable property in the taxing district for the current levy year and the 2 levy years immediately preceding the current levy year is less than the median equalized assessed value of all taxable property in the taxing district for the 3 levy years immediately preceding that 3-year period, then the extension limitation is (a) 0% or (b) the rate of increase approved by voters (instead of the lesser of 5% or the percentage increase in the Consumer Price Index during the 12-month calendar year preceding the levy year or the rate of increase approved by the voters). Effective immediately.

Spectrum: Slight Partisan Bill (Democrat 2-1)

Status: (Failed) 2019-01-08 - Session Sine Die [HB0419 Detail]

Text: Latest bill text (Introduced) [HTML]

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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Representative Grant Wehrli [R]	Primary	Sponsored Bills	HD-041	FollowTheMoney	Ballotpedia	VoteSmart
Representative Jerry Costello [D]	Cosponsor	Sponsored Bills	HD-116	FollowTheMoney	Ballotpedia	VoteSmart
Representative Natalie Manley [D]	Cosponsor	Sponsored Bills	HD-098	FollowTheMoney	Ballotpedia	VoteSmart

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