Bill Text: IL SB1813 | 2021-2022 | 102nd General Assembly | Introduced

---

Bill Title: Amends the Property Tax Code. Makes a technical change in a Section concerning the definition of "33 1/3%". Effective immediately.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2021-02-26 - Referred to Assignments [SB1813 Detail]

Download: Illinois-2021-SB1813-Introduced.html

---

102ND GENERAL ASSEMBLY State of Illinois 2021 and 2022 SB1813 Introduced 2/26/2021, by Sen. Jil Tracy 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%". Effective immediately.
LRB102 16453 HLH 21845 b
A BILL FOR
SB1813 LRB102 16453 HLH 21845 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 changing
Section 1-55 as follows:
(35 ILCS 200/1-55)
Sec. 1-55. 33 1/3%. One-third of the the fair cash value of
property, as determined by the Department's sales ratio
studies for the 3 most recent years preceding the assessment
year, adjusted to take into account any changes in assessment
levels implemented since the data for the studies were
collected.
(Source: P.A. 86-1481; 87-877; 88-455.)