Bill Title: Amends the Property Tax Code. With respect to Truth in Taxation provisions and the notice that must be published if an adopted levy exceeds a proposed levy, authorizes the following statement to be included in the notice at the discretion of the taxing district: "The taxing district has estimated its equalized assessed valuation to secure new growth revenue and must adhere to the Property Tax Extension Limitation Law (PTELL or "tax cap" law). PTELL limits the increase over the prior year in the property tax extension of this taxing district to the lesser of 5% or the percentage increase in the Consumer Price Index (CPI), which is (insert applicable CPI percentage increase)." Effective immediately.

Spectrum: Slight Partisan Bill (Republican 4-2)

Status: (Passed) 2009-08-14 - Public Act . . . . . . . . . 96-0504 [HB0493 Detail]

Text: Latest bill text (Enrolled) [HTML]

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