Illinois House Bill 4083

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on May 10 2023 - 25% progression
Action: 2023-05-10 - Referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Property Tax Code. Provides that each taxing district shall continuously monitor its cash and cash-equivalent assets. Provides that if, on the last day of the taxing district's fiscal year, the taxing district has an amount in cash or cash-equivalent assets that is more than 5 times its average annual revenue from all sources for the 3 immediately preceding calendar years, then the taxing district shall review its property tax levy and extension with the goal of granting an abatement to its taxpayers. Provides for notification to taxpayers.

PROP TX-MANDATES

Rep. John Egofske [R]

Date	Chamber	Action
2023-05-10	House	Referred to Rules Committee
2023-05-10	House	First Reading
2023-05-10	House	Filed with the Clerk by Rep. John Egofske

Chapter	Article	Section	Citation Type	Statute Text
35	200	18-184.25	New Code	See Bill Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=4083&GAID=17&DocTypeID=HB&SessionID=112&GA=103
Text	https://www.ilga.gov/legislation/103/HB/10300HB4083.htm