Bill Text: IL HB4517 | 2019-2020 | 101st General Assembly | Introduced

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Bill Title: Amends the Property Tax Code. Provides that the aggregate tax rate extended against taxable real property by any taxing district may not exceed 105% of the aggregate tax rate extended by the taxing district in the previous levy year unless the increase is approved by referendum. Sets forth provisions concerning new taxing districts and taxing districts with an aggregate tax rate of zero in the previous levy year. Preempts home rule powers.

Sponsorship: Partisan Bill (Democrat 1)

Status: (Introduced - Dead) 2020-06-23 - Rule 19(b) / Re-referred to Rules Committee [HB4517 Detail]

Download: Illinois-2019-HB4517-Introduced.html

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101ST GENERAL ASSEMBLY State of Illinois 2019 and 2020 HB4517 Introduced , by Rep. Rita Mayfield SYNOPSIS AS INTRODUCED:
35 ILCS 200/18-163 new
Amends the Property Tax Code. Provides that the aggregate tax rate extended against taxable real property by any taxing district may not exceed 105% of the aggregate tax rate extended by the taxing district in the previous levy year unless the increase is approved by referendum. Sets forth provisions concerning new taxing districts and taxing districts with an aggregate tax rate of zero in the previous levy year. Preempts home rule powers.
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FISCAL NOTE ACT MAY APPLY HOME RULE NOTE ACT MAY APPLY HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY
A BILL FOR
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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 18-163 as follows:
(35 ILCS 200/18-163 new)
Sec. 18-163. Rate cap.
(a) Notwithstanding any other provision of law, and except
as provided in subsection (b), the aggregate tax rate extended
against taxable real property by any taxing district may not
exceed 105% of the aggregate tax rate extended by the taxing
district in the previous levy year. In the case of a taxing
district that is subject to the Property Tax Extension
Limitation Law, the rate extended against taxable residential
real property for the annual corporate extension and those
special purpose extensions included in the taxing district's
aggregate extension, as defined in Section 18-185, shall not
exceed the lesser of (i) the maximum rate calculated under this
Section for those extensions or (ii) the limiting rate under
the Property Tax Extension Limitation Law.
(b) A new taxing district or a taxing district with an
aggregate tax rate of zero in the previous levy year shall hold
a referendum establishing a maximum tax rate for the levy year.

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The maximum tax rate is established for the current levy year
if a taxing district has held a referendum before the levy date
at which the majority voting on the issue approves its
adoption. The referendum under this Section may be held at the
same time as the referendum on creating a new taxing district.
The question shall be submitted to the voters at a regularly
scheduled election in accordance with the Election Code. The
question shall be submitted in substantially the following
form:
May an aggregate tax rate not to exceed (aggregate tax
rate) be extended against taxable property in (taxing
district) for (levy year)?
Votes shall be recorded as "Yes" or "No". If a majority of
voters voting on the issue approves the maximum tax rate, then
the district may adopt a tax rate for the levy year specified
that does not exceed that maximum tax rate.
(c) A taxing district may increase its maximum tax rate for
one or more levy years if that taxing district holds a
referendum before the levy date for the first levy year for
which the increase shall apply. Referenda shall be conducted at
a regularly scheduled election in accordance with the Election
Code. The question shall be submitted in substantially the
following form:
Shall the maximum aggregate tax rate for (taxing
district) be increased from (statutory maximum rate) to
(proposed maximum rate) for (levy year or years)?

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Votes shall be recorded as "Yes" or "No". If a majority of
voters voting on the issue approves the maximum tax rate, then
the district may adopt a tax rate for the levy year specified
that does not exceed that maximum tax rate.
(d) This Section is a denial and limitation on home rule
powers and functions under subsection (g) of Section 6 of
Article VII of the Illinois Constitution.