Bill Text: IL SB2367 | 2015-2016 | 99th General Assembly | Introduced

---

Bill Title: Amends the Property Tax Code. Makes a technical change in a Section concerning the definition of "33 1/3%".

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2016-04-22 - Senate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Assignments [SB2367 Detail]

Download: Illinois-2015-SB2367-Introduced.html

---

99TH GENERAL ASSEMBLY State of Illinois 2015 and 2016 SB2367 Introduced 1/28/2016, by Sen. Steve Stadelman SYNOPSIS AS INTRODUCED:
35 ILCS 200/1-55
Amends the Property Tax Code. Makes a technical change in a Section concerning the definition of "33 1/3%".
LRB099 19231 HLH 43623 b
A BILL FOR
SB2367 LRB099 19231 HLH 43623 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 1-55 as follows:
(35 ILCS 200/1-55)
Sec. 1-55. 33 1/3%. One-third of the the fair cash value of
property, as determined by the Department's sales ratio studies
for the 3 most recent years preceding the assessment year,
adjusted to take into account any changes in assessment levels
implemented since the data for the studies were collected.
(Source: P.A. 86-1481; 87-877; 88-455.)