94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
HB1041


 
Introduced 02/03/05, by Rep. Jack D. Franks
 
SYNOPSIS AS INTRODUCED:
 		













35 ILCS 200/18-125










    Amends the Property Tax Code.  Provides that the ballot question concerning
increasing or decreasing a rate limit shall include the purpose for the rate
change and shall reference the resolution of the taxing district adopting the
rate change.  Provides that the ballot shall have printed thereon, but not as
part of the proposition submitted, an estimate of the approximate amount to be
levied upon a residence in the taxing district with a market value of $100,000
under the current rate and under the proposed rate. Effective immediately.
















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FISCAL NOTE ACT MAY APPLY


HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY
















 


 


A BILL FOR









 











HB1041

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1
    AN ACT in relation to taxes. 

 
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    Be it enacted by the People of the State of Illinois, 
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represented in the General Assembly: 


 
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    Section 5. The Property Tax Code is amended by changing 
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Section 18-125 as
follows:


 



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    (35 ILCS 200/18-125)


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    Sec. 18-125. Rate limit referenda. Referenda initiated 
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under Section 18-120
shall be subject to the provisions and 
9
limitations of the general election law.

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    The question of adopting maximum tax rate other than that 
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applicable shall be
in substantially the following form:

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-------------------------------------------------------------

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    Shall the maximum tax rate for

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the..... fund of.........

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(identify taxing district) be             YES

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established, for the purpose of

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(state purpose specified in

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resolution of the corporate

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authorities of taxing districts),

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at........ percent

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on the equalized assessed              ----------------------

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value, as provided in (identify

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resolution of the corporate

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authorities of the taxing district),

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instead of........... per

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cent, the maximum rate otherwise           NO

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applicable to the next taxes to

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be extended?

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-------------------------------------------------------------

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    The ballot shall have printed thereon, but not as a part of 
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the
proposition submitted, an estimate of the approximate 
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amount extendable
under the proposed rate and of the 
 


 






HB1041
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approximate amount extendable under
the current rate 
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applicable to the next taxes extended, such amounts being

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computed upon the last known equalized assessed value. Any 
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error,
miscalculation or inaccuracy in computing such amounts 
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shall not invalidate or
affect the validity of any maximum tax 
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rate so adopted.

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    The ballot shall have printed thereon, but not as part of 
8
the proposition
submitted, an estimate of the approximate 
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amount to be levied upon a residence
in the taxing district 
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with a market value of $100,000 under the current rate
and 
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under the proposed rate.  The corporate authorities of the 
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taxing district
shall make the estimate and shall certify the 
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amount to the election authority
as part of the certification 
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of the proposition as required by the general
election law.  Any 
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error, miscalculation, or inaccuracy in computing the
amounts 
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shall not invalidate or affect the validity of any maximum tax 
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rate so
adopted.

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    If a majority of all ballots cast on the proposition are in 
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favor of the
proposition, the maximum tax rate so established 
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shall become effective with
the levy next following the 
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referendum. It is the duty of the county clerk to
reduce, if 
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necessary, the amount of any taxes levied thereafter.  Nothing 
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in
this Section shall be construed as precluding the extension 
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of taxes at rates
less than that authorized by the referendum. 

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(Source: P.A. 86-1253; 88-455.)



 
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    Section 99. Effective date. This Act takes effect upon 
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becoming law.