Illinois House Bill 4608 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Bipartisan Bill
Status: Failed on January 8 2013 - 100% progression
Action: 2013-01-08 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

Amends the Property Tax Extension Limitation Law in the Property Tax Code. Provides that, for all taxing districts located in whole or in part within a county with a population between 300,000 and 400,000, if the total equalized assessed value of all taxable property in the taxing district for the current levy year (excluding new property, recovered tax increment value, and property that is annexed to or disconnected from the taxing district in the current levy year) is less than the total equalized assessed value of all taxable property in the taxing district for the previous levy year, then the extension limitation is (a) 0% or (b) the rate of increase approved by voters (instead of the lesser of 5% or the percentage increase in the Consumer Price Index during the 12-month calendar year preceding the levy year or the rate of increase approved by voters). Effective immediately.

PTELL-EXTENSION LIMITATION

Rep. Jack Franks [D]

Rep. Kent Gaffney [R]

Date	Chamber	Action
2013-01-08	House	Session Sine Die
2012-02-03	House	Added Co-Sponsor Rep. Kent Gaffney
2012-02-01	House	Referred to Rules Committee
2012-02-01	House	First Reading
2012-02-01	House	Filed with the Clerk by Rep. Jack D. Franks

Chapter	Article	Section	Citation Type	Statute Text
35	200	18-185	Amended Code	Citation Text
35	200	18-205	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=4608&GAID=11&DocTypeID=HB&SessionID=84&GA=97
Text	https://www.ilga.gov/legislation/97/HB/09700HB4608.htm