Bill Text: IL HB0189 | 2013-2014 | 98th General Assembly | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Amends the Property Tax Code. Provides that, rates may be calculated beyond 3 decimal points to allow the extension to be as close to the levy requested as possible. Effective immediately.

Spectrum: Partisan Bill (Democrat 29-1)

Status: (Failed) 2014-12-03 - Session Sine Die [HB0189 Detail]

Download: Illinois-2013-HB0189-Introduced.html

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98TH GENERAL ASSEMBLY State of Illinois 2013 and 2014 HB0189 Introduced , by Rep. Katherine Cloonen SYNOPSIS AS INTRODUCED:
35 ILCS 200/18-140
Amends the Property Tax Code. Provides that, rates may be calculated beyond 3 decimal points to allow the extension to be as close to the levy requested as possible. Effective immediately.
LRB098 02813 HLH 32821 b
FISCAL NOTE ACT MAY APPLY HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY
A BILL FOR
HB0189 LRB098 02813 HLH 32821 b
AN ACT concerning revenue.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Property Tax Code is amended by changing
Section 18-140 as follows:
(35 ILCS 200/18-140)
Sec. 18-140. Extension upon equalized assessment of
current levy year. All taxes shall be extended by each county
clerk upon the valuation produced by the equalization and
assessment of property by the Department for the levy year. In
the computation of rates, a fraction of a mill shall be
extended as the next higher mill. Rates may be calculated
beyond 3 decimal points to allow the extension to be as close
to the levy requested as possible. Each installment of taxes
shall be extended in a separate column. Installments shall be
equal and as to each installment a fraction of a cent shall be
extended as one cent.
(Source: P.A. 87-17; 88-455.)
Section 99. Effective date. This Act takes effect upon
becoming law.