Senate Sponsors: RADOGNO-WALSH,T. Short description: PROP TX-REFUNDS-SUPPLMNTL LEVY Synopsis of Bill as introduced: Amends the Property Tax Code. Provides that if, as a result of an assessment reduction by the Property Tax Appeal Board or a court, a taxing district is required to refund a portion of the property tax revenue distributed to that taxing district, then the taxing district may, without referendum, adopt a supplemental tax levy. The levy may not exceed the amount of the refund but may exceed the maximum rate of taxes that the taxing district is authorized by law to levy for the fiscal year to which the increase applies. Provides that, for purposes of the Property Tax Extension Limitation Law, the taxing district's aggregate extension base does not include the supplemental levy authorized under this Section. Amends the Property Tax Extension Limitation Law, the Truth in Taxation Law, and the Cook County Truth in Taxation Law to provide that the supplemental levy is exempt from the limits imposed by these laws. Effective immediately. Last action on Bill: SESSION SINE DIE Last action date: JAN-07-2003 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status