PROP TX-RECAPTURE

Amends the Property Tax Code. Repeals provisions concerning levy adjustments for certificates of error, court orders, and final administrative decisions of the Property Tax Appeal Board. Provides that a taxing district may adopt a levy to recapture revenue lost due to refunds issued pursuant to a decision of the Property Tax Appeal Board, an assessment or exemption decision of the Department of Revenue, a court order, or an administrative decision of a local assessment official. Provides that those recapture levies are not included in the taxing district's aggregate extension base under the Property Tax Extension Limitation Law. Amends the School Code to make conforming changes. Effective immediately.