PROP TAX-VALIDATION & OBJECTNS

Creates the Taxing District Tax Levy Validation (2003) Act to validate certain annual appropriation ordinances and tax levy ordinances adopted by taxing districts from 1989 through 2002 together with the taxes assessed, levied, and extended thereon. Amends the Property Tax Code. Allows (now requires) a taxing district to adopt a resolution or ordinance to reduce its tax levy if the district receives a surplus of funds under the State Revenue Sharing Act. Provides that, for the purposes of tax objections based on budget or appropriation ordinances, "municipality" means all municipal corporations in, and political subdivisions of, this State (now, excepts out from this definition a number of units of local government) and eliminates a basis on which a taxpayer may file an objection under these provisions. Applies these changes retroactively. Amends the Illinois Municipal Code to authorize the recovery of costs and attorney fees incurred by a prevailing taxpayer who brings suit on behalf of a municipality to recover certain money or property belonging to the municipality. Effective immediately.