Bill Text: IL SB1937 | 2013-2014 | 98th General Assembly | Amended

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Bill Title: Amends the Property Tax Code. In a Section concerning the Senior Citizens Assessment Freeze Homestead Exemption, provides that the applicant's household income does not include the income of any disabled person who is a member of the household.

Spectrum: Bipartisan Bill

Status: (Failed) 2015-01-13 - Session Sine Die [SB1937 Detail]

Download: Illinois-2013-SB1937-Amended.html

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Rep. David McSweeney

Filed: 5/8/2013

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AMENDMENT TO SENATE BILL 1937
AMENDMENT NO. ______. Amend Senate Bill 1937 on page 1,
line 5, after "15-172", by inserting "and by adding Division 7
to Article 18"; and
on page 14, immediately below line 20, by inserting the
following:
"(35 ILCS 200/Art. 18 Div. 7 heading new)
Division 7. Township Property Tax Extension Freeze.
(35 ILCS 200/18-280 new)
Sec. 18-280. Short title; definitions. This Division 7 may
be cited as the Property Tax Extension Limitation Law.
As used in this Division 7:
"Aggregate extension" means the annual corporate extension
for the township and those special purpose extensions that are
made annually for the township, excluding the following special

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purpose extensions: (1) extensions made for the township to pay
interest or principal on general obligation bonds; (2)
extensions made for the township to pay interest or principal
on bonds issued to refund or continue to refund bonds; (3)
extensions made for the township to pay interest or principal
on revenue bonds for payment of which a property tax levy or
the full faith and credit of the township is pledged; and (4)
extensions made for payments due under installment contracts
entered into before December 31, 2013.
"Current year" means the 2013 or 2014 levy year, as
applicable.
"Special purpose extensions" include, but are not limited
to, extensions for levies made on an annual basis for
unemployment and workers' compensation, self-insurance,
contributions to pension plans, whether levied annually or not.
The extension for a special service area is not included in the
aggregate extension.
"Aggregate extension base" means the township's aggregate
extension for the 2012 levy year.
"New property" means (i) the assessed value, after final
board of review or board of appeals action, of new improvements
or additions to existing improvements on any parcel of real
property that increase the assessed value of that real property
during the levy year multiplied by the equalization factor
issued by the Department under Section 17-30 and (ii) the
assessed value, after final board of review or board of appeals

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action, of real property not exempt from real estate taxation,
which real property was exempt from real estate taxation for
any portion of the immediately preceding levy year, multiplied
by the equalization factor issued by the Department under
Section 17-30.
"Recovered tax increment value" means the amount of the
current year's equalized assessed value, in the first year
after a city terminates the designation of an area as a
redevelopment project area previously established under the
Tax Increment Allocation Development Act of the Illinois
Municipal Code, previously established under the Industrial
Jobs Recovery Law of the Illinois Municipal Code, or previously
established under the Economic Development Area Tax Increment
Allocation Act, of each taxable lot, block, tract, or parcel of
real property in the redevelopment project area over and above
the initial equalized assessed value of each property in the
redevelopment project area.
Except as otherwise provided in this Division, "limiting
rate" means a fraction the numerator of which is the aggregate
extension base and the denominator of which is the current
year's equalized assessed value of all real property in the
territory under the jurisdiction of the township during the
2012 levy year. The denominator shall not include new property
and shall not include the recovered tax increment value.
(35 ILCS 200/18-285 new)

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Sec. 18-285. Township extensions.
(a) Notwithstanding any other provision of law, in counties
under township organization, for the 2013 and 2014 levy years,
for those townships for which the county clerk extended taxes
for any funds included in the aggregate extension base for the
2012 levy year, the county clerk shall extend a rate for the
sum of the funds in the township's aggregate extension base
that is no greater than the limiting rate.
(b) If the township obtains referendum approval for an
increased limiting rate under Section 18-290, then the county
clerk shall extend a rate for the sum of the funds in the
township's aggregate extension base that is no greater than the
increased limiting rate.
(c) If the county clerk is required to reduce the aggregate
extension of a township under the provisions of this Division,
then the county clerk shall proportionally reduce the extension
for each fund, unless a different method of reduction is
requested by the township.
(35 ILCS 200/18-290 new)
Sec. 18-290. Increased limiting rate. A township may
increase its limiting rate for either the 2012 or 2013 levy
year if the township submits the question at referendum before
the levy date for the applicable year, and if a majority of
voters voting on the issue approves adoption of the increased
limiting rate. Referenda shall be conducted at a regularly

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scheduled election in accordance with the Election Code. The
question shall be presented in substantially the following
manner:
Shall the limiting rate under the Township Property Tax
Extension Freeze Law for (township), Illinois, be
increased to (increased limiting rate)?
Votes shall be recorded as "Yes" or "No".".