PROP TX-PTELL-EXTENSION BASE

Amends the Property Tax Extension Limitation Law in the Property Tax Code. Provides that each taxing district's debt service extension base shall be increased each year beginning with the later of (i) the 2009 levy year or (ii) the first levy year in which the Law becomes applicable to the taxing district, by the lesser of 5% or the percentage increase in the Consumer Price Index during the 12-month calendar year preceding the levy year. Provides that, if a taxing district's debt service extension base is established or increased by a referendum held after February 2, 2010, the debt service extension base shall be increased if certain authorizing language is included in the referendum. Effective immediately.