PTELL-RESERVES
Summary
Amends the Property Tax Extension Limitation Law in the Property Tax Code. Provides that, if, at the end of any levy year, a taxing district has reserves of 50% or more of its operating budget for that levy year, then, for the next levy year, "extension limitation" means 0% or the rate of increase approved by the voters. Preempts the power of home rule units to tax. Effective immediately.
Bill status
failed
1 of 4 stages cleared
Introduction
Feb 2018
Committee Review
Floor Vote
Governor
Introduced Feb 14, 2018
Last action Jan 8, 2019
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
7
Key actions
1
Committee
4
Apr 13, 2018
Committee
Rule 19(a) / Re-referred to Rules Committee
lower
Apr 12, 2018
Lower · Passed
To Property Tax Subcommittee
lower
Mar 21, 2018
Committee
Assigned to Revenue & Finance Committee
lower
Feb 14, 2018
Committee
Referred to Rules Committee
lower
0 primary · 1 co-sponsor
Sponsors
No sponsor information available.
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