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91_SB0957
SRS91S0038PMcb
1 AN ACT to amend the Property Tax Code by adding Section
2 18-162.
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 adding
6 Section 18-162 as follows:
7 (35 ILCS 200/18-162 new)
8 Sec. 18-162. Abatement of extensions.
9 (a) The governing authority of a taxing district, upon
10 determining that a surplus is available for a special
11 purpose, may adopt a resolution or ordinance abating all or
12 part of the extension for that special purpose for the year
13 for which the resolution or ordinance is adopted. For the
14 purposes of the Property Tax Extension Limitation Law, the
15 amount of the extension abated by the taxing district shall
16 continue to be included in the district's aggregate extension
17 base.
18 (b) If the governing authority of a taxing district
19 abates all or part of a special purpose extension, then the
20 authority shall certify the action to the county clerk of
21 each county extending those taxes. The county clerk shall
22 abate that extension of the district according to the
23 provisions of the certified resolution or ordinance.