Bill Title: Amends the Property Tax Extension Limitation Law in the Property Tax Code. Provides that, beginning with the 2020 levy year, the Law applies to all taxing districts in the State (currently, the Law applies to non-home rule taxing districts in Cook County, non-home rule taxing districts in counties that are contiguous to Cook, and other taxing districts by referendum). Provides that, beginning in levy year 2020, the extension limitation shall be 1.75% or the rate of increase approved by voters (currently, (A) 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). Preempts home rule powers. Provides that, beginning in levy year 2016, when calculating the equalized assessed value of property, the multiplier shall be applied to the mean value of the previous 3 general assessments. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Spectrum: Partisan Bill (Democrat 16-0)

Status: (Introduced - Dead) 2015-04-20 - Added Co-Sponsor Rep. Silvana Tabares [HB3129 Detail]

Text: Latest bill text (Introduced) [HTML]

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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Representative Jack Franks [D]	Primary	Sponsored Bills	HD-063	FollowTheMoney	Ballotpedia	VoteSmart
Representative Jerry Costello [D]	Cosponsor	Sponsored Bills	HD-116	FollowTheMoney	Ballotpedia	VoteSmart
Representative Carol Sente [D]	Cosponsor	Sponsored Bills	HD-059	FollowTheMoney	Ballotpedia	VoteSmart
Representative Daniel Beiser [D]	Cosponsor	Sponsored Bills	HD-111	FollowTheMoney	Ballotpedia	VoteSmart
Representative Arthur Turner [D]	Cosponsor	Sponsored Bills	HD-009	FollowTheMoney	Ballotpedia	VoteSmart
Representative Anthony DeLuca [D]	Cosponsor	Sponsored Bills	HD-080	FollowTheMoney	Ballotpedia	VoteSmart
Representative Jehan Gordon-Booth [D]	Cosponsor	Sponsored Bills	HD-092	FollowTheMoney	Ballotpedia	VoteSmart
Representative Mike Smiddy [D]	Cosponsor	Sponsored Bills	HD-071	FollowTheMoney	Ballotpedia	VoteSmart
Senator Elgie Sims [D]	Cosponsor	Sponsored Bills	SD-017	FollowTheMoney	Ballotpedia	VoteSmart
Representative Michael Zalewski [D]	Cosponsor	Sponsored Bills	HD-023	FollowTheMoney	Ballotpedia	VoteSmart
Representative Thaddeus Jones [D]	Cosponsor	Sponsored Bills	HD-029	FollowTheMoney	Ballotpedia	VoteSmart
Representative John D'Amico [D]	Cosponsor	Sponsored Bills	HD-015	FollowTheMoney	Ballotpedia	VoteSmart
Representative Martin Moylan [D]	Cosponsor	Sponsored Bills	HD-055	FollowTheMoney	Ballotpedia	VoteSmart
Representative Michelle Mussman [D]	Cosponsor	Sponsored Bills	HD-056	FollowTheMoney	Ballotpedia	VoteSmart
Representative Litesa Wallace [D]	Cosponsor	Sponsored Bills	HD-067	FollowTheMoney	Ballotpedia	VoteSmart
Representative Silvana Tabares [D]	Cosponsor	Sponsored Bills	HD-021	FollowTheMoney	Ballotpedia	VoteSmart

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