|
Rep. Barbara Flynn Currie
Filed: 11/8/2011
| | 09700SB0400ham001 | | LRB097 04212 HLH 59673 a |
|
|
| 1 | | AMENDMENT TO SENATE BILL 400
|
| 2 | | AMENDMENT NO. ______. Amend Senate Bill 400 by replacing |
| 3 | | everything after the enacting clause with the following:
|
| 4 | | "Section 5. The Property Tax Code is amended by changing |
| 5 | | Section 1-55 as follows:
|
| 6 | | (35 ILCS 200/1-55)
|
| 7 | | Sec. 1-55. 33 1/3%. One-third of the
the fair cash value of |
| 8 | | property, as
determined by the Department's sales ratio studies |
| 9 | | for the 3 most recent years
preceding the assessment year, |
| 10 | | adjusted to take into account any changes in
assessment levels |
| 11 | | implemented since the data for the studies were collected. |
| 12 | | (Source: P.A. 86-1481; 87-877; 88-455.)".
|