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
in committee
1 of 4 stages cleared
Introduction
Feb 2023
Committee Review
Floor Vote
Governor
Introduced Feb 17, 2023
Last action Mar 10, 2023
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
6
Key actions
1
Committee
4
Mar 10, 2023
Committee
Rule 19(a) / Re-referred to Rules Committee
lower
Mar 9, 2023
Lower · Passed
To Revenue - Property Tax Subcommittee
lower
Feb 28, 2023
Committee
Assigned to Revenue & Finance Committee
lower
Feb 17, 2023
Committee
Referred to Rules Committee
lower
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Fred Crespo
DDemocratic
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