Bill Text: IL HB3592 | 2017-2018 | 100th General Assembly | Introduced


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

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2017-03-31 - Rule 19(a) / Re-referred to Rules Committee [HB3592 Detail]

Download: Illinois-2017-HB3592-Introduced.html


100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018
HB3592

Introduced , by Rep. Scott Drury

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%".
LRB100 10979 MRW 21217 b

A BILL FOR

HB3592LRB100 10979 MRW 21217 b
1 AN ACT concerning revenue.
2 Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
4 Section 5. The Property Tax Code is amended by changing
5Section 1-55 as follows:
6 (35 ILCS 200/1-55)
7 Sec. 1-55. 33 1/3%. One-third of the the fair cash value of
8property, as determined by the Department's sales ratio studies
9for the 3 most recent years preceding the assessment year,
10adjusted to take into account any changes in assessment levels
11implemented since the data for the studies were collected.
12(Source: P.A. 86-1481; 87-877; 88-455.)
feedback