PEN CD-ARTS 3/7-TAX REFERENDUM

Amends the Property Tax Extension Limitation Law of the Property Tax Code. Excludes from the definition of the term "aggregate extension" extensions made by a taxing district for contributions to a pension or retirement fund created under the Downstate Police, Downstate Fire, or IMRF Articles of the Illinois Pension Code for the first 5 taxable years after the taxing district first participates in such a system. Amends the Downstate Police and IMRF Articles of the Illinois Pension Code. Requires the referenda questions used to create a pension or retirement fund under the specified Articles to also authorize the levying of an annual tax for the purpose of participation in that fund.