Bill Text: IL HB1604 | 2013-2014 | 98th General Assembly | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Amends the Property Tax Code. Makes a technical change in a Section concerning the definition of "33 1/3%".

Spectrum: Slight Partisan Bill (Democrat 6-2)

Status: (Passed) 2013-12-30 - Public Act . . . . . . . . . 98-0615 [HB1604 Detail]

Download: Illinois-2013-HB1604-Introduced.html

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98TH GENERAL ASSEMBLY State of Illinois 2013 and 2014 HB1604 Introduced , by Rep. Tom Cross SYNOPSIS AS INTRODUCED:
35 ILCS 200/1-55
Amends the Property Tax Code. Makes a technical change in a Section concerning the definition of "33 1/3%".
LRB098 06020 HLH 36059 b
A BILL FOR
HB1604 LRB098 06020 HLH 36059 b
AN ACT concerning revenue.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Property Tax Code is amended by changing
Section 1-55 as follows:
(35 ILCS 200/1-55)
Sec. 1-55. 33 1/3%. One-third of the the fair cash value of
property, as determined by the Department's sales ratio studies
for the 3 most recent years preceding the assessment year,
adjusted to take into account any changes in assessment levels
implemented since the data for the studies were collected.
(Source: P.A. 86-1481; 87-877; 88-455.)