Bill Text: IL SB1932 | 2017-2018 | 100th General Assembly | Introduced


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

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced) 2018-09-30 - Chief Sponsor Changed to Sen. William E. Brady [SB1932 Detail]

Download: Illinois-2017-SB1932-Introduced.html


100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018
SB1932

Introduced 2/10/2017, by Sen. Pamela J. Althoff

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%".
LRB100 06056 HLH 16087 b

A BILL FOR

SB1932LRB100 06056 HLH 16087 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.)
feedback