Bill Text: IL HB4021 | 2011-2012 | 97th General Assembly | Amended
Bill Title: Amends the Property Tax Code. Provides that a taxing district may adopt a levy to recapture revenue lost due to refunds issued pursuant to a decision of the Property Tax Appeal Board, an assessment or exemption decision of the Department of Revenue, a court order, or an administrative decision of a local assessment official. Provides that those recapture levies are not included in the taxing district's aggregate extension base under the Property Tax Extension Limitation Law. Provides that any taxpayer who has received a refund that has been included in a recapture levy by one or more taxing districts has the right to an abatement in an amount equal to a portion of that refund amount, subject to certain limitations.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Failed) 2013-01-08 - Session Sine Die [HB4021 Detail]
Download: Illinois-2011-HB4021-Amended.html
| |||||||
| |||||||
| |||||||
| 1 | AMENDMENT TO HOUSE BILL 4021
| ||||||
| 2 | AMENDMENT NO. ______. Amend House Bill 4021, AS AMENDED, | ||||||
| 3 | with reference to page and line numbers of House Amendment No. | ||||||
| 4 | 1, on page 1, line 15, after "district,", by inserting "and if | ||||||
| 5 | the equalized assessed value of the property, as adjusted | ||||||
| 6 | according to the decision or court order, is more than 20% of | ||||||
| 7 | the total equalized assessed value of all property in the | ||||||
| 8 | taxing district in the taxable year that was the subject of the | ||||||
| 9 | decision or court order, then".
| ||||||
