Bill Title: Amends the Illinois Municipal Code. Provides that the corporate authorities of a municipality may by ordinance declare that the municipality will have a projected surplus of revenues in a fiscal year from any source. Allows the corporate authorities to abate the property tax levied by the municipality by the projected surplus amount. Provides that any amounts abated shall be considered as part of the municipality's aggregate extension for the fiscal year in question. Amends the Property Tax Code making conforming changes.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2022-02-10 - Senate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Assignments [SB2968 Detail]

Text: Latest bill text (Introduced) [HTML]

---

Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Senator Patrick Joyce [D]	Primary	Sponsored Bills	SD-040	FollowTheMoney	Ballotpedia	VoteSmart

Social Comments on IL SB2968