Bill Text: IL HB4273 | 2013-2014 | 98th General Assembly | Introduced

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Bill Title: Amends the Property Tax Code. Provides that a non-binding advisory referendum concerning a proposed extension limitation shall be placed on the ballot at the first general election to occur after the effective date of the amendatory Act. Effective immediately.

Sponsorship: Bipartisan Bill

Status: (Failed) 2014-12-03 - Session Sine Die [HB4273 Detail]

Download: Illinois-2013-HB4273-Introduced.html

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98TH GENERAL ASSEMBLY State of Illinois 2013 and 2014 HB4273 Introduced , by Rep. Jack D. Franks SYNOPSIS AS INTRODUCED:
35 ILCS 200/18-50.2 new
Amends the Property Tax Code. Provides that a non-binding advisory referendum concerning a proposed extension limitation shall be placed on the ballot at the first general election to occur after the effective date of the amendatory Act. Effective immediately.
LRB098 14672 HLH 50344 b
FISCAL NOTE ACT MAY APPLY
A BILL FOR
HB4273 LRB098 14672 HLH 50344 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 18-50.2 as follows:
(35 ILCS 200/18-50.2 new)
Sec. 18-50.2. Advisory referendum. The following
non-binding advisory referendum shall be placed on the ballot
at the first general election to occur after the effective date
of this amendatory Act of the 98th General Assembly:
"Would you support a change in the Property Tax Code to
provide that: if the value of all taxable property in a
taxing district in a given tax year is lower than the value
of all taxable property in the taxing district in the
previous tax year, then the taxing district may not
increase its levy over the previous levy year unless that
increase is approved by the voters of the taxing district
at a referendum?"
Votes shall be recorded as "Yes" or "No".
Section 99. Effective date. This Act takes effect upon
becoming law.