PROP TX-NEW RATES

Amends the Property Tax Extension Limitation Law in the Property Tax Code. In a Section concerning referendum requirements for new rates or increased rates, provides that a new rate is any rate for a fund for which the taxing district has never levied in the past. Provides that rates that are subject to a backdoor referendum in each year there is a levy are treated as not new rates or rate increases if a levy has not been made for the fund in one or more of the preceding 3 levy years (now, the rates are not new rates or rate increases if a levy has been made for the fund in one or more of the preceding 3 levy years). Provides that these changes are declarative of existing law. Effective immediately.