Bill Text: IL HB4237 | 2015-2016 | 99th General Assembly | Introduced

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Bill Title: Amends the Property Tax Code. Provides that, beginning in taxable year 2015 and concluding in taxable year 2020, the county clerk shall reduce the property taxes levied by each taxing district to a level that is not greater than that taxing district's levy in the previous taxable year. Provides that the county clerk may increase or decrease the portion of a total tax levy paid by any individual taxpayer, provided that the increase or decrease in the individual taxpayer's tax bill is based solely on a change in the equalized assessed value of the taxpayer's property. Effective immediately.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2015-06-30 - Referred to Rules Committee [HB4237 Detail]

Download: Illinois-2015-HB4237-Introduced.html

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99TH GENERAL ASSEMBLY State of Illinois 2015 and 2016 HB4237 Introduced , by Rep. John M. Cabello SYNOPSIS AS INTRODUCED:
35 ILCS 200/18-184.15 new
Amends the Property Tax Code. Provides that, beginning in taxable year 2015 and concluding in taxable year 2020, the county clerk shall reduce the property taxes levied by each taxing district to a level that is not greater than that taxing district's levy in the previous taxable year. Provides that the county clerk may increase or decrease the portion of a total tax levy paid by any individual taxpayer, provided that the increase or decrease in the individual taxpayer's tax bill is based solely on a change in the equalized assessed value of the taxpayer's property. Effective immediately.
LRB099 12928 HLH 36785 b
FISCAL NOTE ACT MAY APPLY HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY
A BILL FOR
HB4237 LRB099 12928 HLH 36785 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 adding
Section 18-184.15 as follows:
(35 ILCS 200/18-184.15 new)
Sec. 18-184.15. Five-year reduction. Notwithstanding any
other provision of law, beginning in taxable year 2015 and
concluding in taxable year 2020, the county clerk shall reduce
the property taxes levied by each taxing district to a level
that is not greater than that taxing district's levy in the
previous taxable year. Nothing in this amendatory Act of the
99th General Assembly shall prevent a county clerk from
increasing or decreasing the portion of a total tax levy paid
by any individual taxpayer, provided that the increase or
decrease in the individual taxpayer's tax bill is based solely
on a change in the equalized assessed value of the taxpayer's
property.
Section 99. Effective date. This Act takes effect upon
becoming law.