Bill Text: IL SB2367 | 2015-2016 | 99th 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 (Democrat 1-0)

Status: (Introduced - Dead) 2016-04-22 - Senate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Assignments [SB2367 Detail]

Download: Illinois-2015-SB2367-Introduced.html


99TH GENERAL ASSEMBLY
State of Illinois
2015 and 2016
SB2367

Introduced 1/28/2016, by Sen. Steve Stadelman

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%".
LRB099 19231 HLH 43623 b

A BILL FOR

SB2367LRB099 19231 HLH 43623 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.)
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