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91_HB2180eng HB2180 Engrossed LRB9103277PTpk 1 AN ACT to amend the Property Tax Code by changing Section 2 1-55. 3 Be it enacted by the People of the State of Illinois, 4 represented in the General Assembly: 5 Section 5. The Property Tax Code is amended by changing 6 Section 1-55 as follows: 7 (35 ILCS 200/1-55) 8 Sec. 1-55. 33 1/3%. "33 1/3%" means one-third of the 9 fair cash value of property, as determined by the 10 Department's sales ratio studies for the 3 most recent years 11 preceding the assessment year, adjusted to take into account 12 any changes in assessment levels implemented since the data 13 for the studies were collected. 14 (Source: P.A. 86-1481; 87-877; 88-455.)