Illinois Senate Bill 2862 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Democrat 1-0)
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, 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 (b) the rate of increase approved by voters). Effective immediately.

PTELL-EXTENSION LIMITATION

Sen. Martin Sandoval [D]

Date	Chamber	Action
2013-01-08	Senate	Session Sine Die
2012-05-11	Senate	Rule 3-9(a) / Re-referred to Assignments
2012-05-09	Senate	Postponed - Revenue
2012-05-02	Senate	Postponed - Revenue
2012-04-26	Senate	Rule 2-10 Committee/3rd Reading Deadline Established As May 11, 2012
2012-03-30	Senate	Rule 2-10 Committee/3rd Reading Deadline Established As April 26, 2012
2012-03-09	Senate	Rule 2-10 Committee Deadline Established As March 30, 2012
2012-03-08	Senate	Postponed - Revenue
2012-03-01	Senate	Postponed - Revenue
2012-01-31	Senate	Assigned to Revenue
2012-01-24	Senate	Referred to Assignments
2012-01-24	Senate	First Reading
2012-01-24	Senate	Filed with Secretary by Sen. Martin A. Sandoval

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=2862&GAID=11&DocTypeID=SB&SessionID=84&GA=97
Text	https://www.ilga.gov/legislation/97/SB/09700SB2862.htm