[ Search ] [ PDF text ] [ Legislation ]
[ Home ] [ Back ] [ Bottom ]
| [ Introduced ] |
92_HB5828ham001
LRB9212619SMdvam01
1 AMENDMENT TO HOUSE BILL 5828
2 AMENDMENT NO. . Amend House Bill 5828 by replacing
3 everything after the enacting clause with the following:
4 "Section 5. The Property Tax Code is amended by changing
5 Section 18-230 as follows:
6 (35 ILCS 200/18-230)
7 Sec. 18-230. Rate increase or decrease factor.
8 (a) When a new rate or a rate increase or decrease first
9 effective for the current levy year has been approved by
10 referendum, the aggregate extension base, as adjusted in
11 Sections 18-215 and 18-220, shall be multiplied by a rate
12 increase (or decrease) factor. The numerator of the rate
13 increase (or decrease) factor is the total combined rate for
14 the funds that made up the aggregate extension for the taxing
15 district for the prior year plus the rate increase approved
16 or minus the rate decrease approved. The denominator of the
17 rate increase or decrease factor is the total combined rate
18 for the funds that made up the aggregate extension for the
19 prior year.
20 (b) For those taxing districts for which a new rate or a
21 rate increase has been approved by referendum held after
22 December 31, 1988, and that did not increase their rate to
-2- LRB9212619SMdvam01
1 the new maximum rate for that fund, the rate increase factor
2 shall be adjusted for 4 levy years after the year of the
3 referendum by a factor the numerator of which is the portion
4 of the new or increased rate for which taxes were not
5 extended plus the aggregate rate in effect for the levy year
6 prior to the levy year in which the referendum was passed and
7 the denominator of which is the aggregate rate in effect for
8 the levy year prior to the levy year in which the referendum
9 was passed.
10 (c) A taxing district that does not intend to avail
11 itself of the provisions of subsection (b) of this Section
12 shall provide notice of that intent in the resolution or
13 ordinance calling for a referendum on the proposition of
14 increasing the tax rate of the taxing district. A certified
15 copy of the notice shall also be filed with the county clerk
16 of each county having jurisdiction over any territory of the
17 respective taxing district in which the proposition is to be
18 submitted to referendum at the time the resolution or
19 ordinance is certified to the appropriate election authority.
20 The notice shall be in substantially the following form:
21 "The [name of taxing district] does not intend to avail
22 itself of the provisions of subsection (b) of Section 18-230
23 of the Property Tax Extension Limitation Law in the Property
24 Tax Code."
25 A taxing district that provides this notice may not avail
26 itself of the provisions of subsection (b) of this Section.
27 (Source: P.A. 87-17; 88-455.)
28 Section 99. Effective date. This Act takes effect upon
29 becoming law.".