Bill Title: Amends the Property Tax Extension Limitation Law in the Property Tax Code. Provides that, for levy years 2020 and later, the taxing district's aggregate extension base is the greater of (A) the district's last preceding aggregate extension limit or (B) the district's last preceding aggregate extension, subject to certain adjustments. Provides that the term "aggregate extension limit" means the district's last preceding aggregate extension if the taxing district had utilized the maximum limiting rate permitted without referendum for each of the 5 immediately preceding levy years. Effective immediately.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2020-06-23 - Rule 19(b) / Re-referred to Rules Committee [HB5661 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2020-02-14	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois HB5661

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB5661 currently on file.

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