98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014
SB1160

Introduced 1/24/2013, by Sen. Toi W. Hutchinson

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%".
LRB098 07307 HLH 37370 b

A BILL FOR

SB1160LRB098 07307 HLH 37370 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.)