HB 2530 Illinois House · 99th Regular Session

PTELL-DISTRICTS ADOPT RATE

Summary
Amends the Property Tax Extension Limitation Law in the Property Tax Code. Requires the corporate authorities of a taxing district that is subject to the Law to adopt a limiting rate by ordinance or resolution if the percentage change in the equalized assessed value of all property within the taxing district during the 12-month calendar year preceding the levy year is less than the percentage change in the Consumer Price Index during that same period of time. Provides that the limiting rate may not exceed the maximum rate permitted under the Property Tax Extension Limitation Law. Contains provisions concerning notice. Provides that the rate extended for the sum of all of the funds included in the taxing district's aggregate extension may not exceed the limiting rate adopted by the taxing district. Effective immediately.
Bill status failed 1 of 4 stages cleared
Introduction
Feb 2015
Committee Review
Floor Vote
Governor
Introduced Feb 18, 2015 Last action Jan 10, 2017
Floor votes

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Full legislative history

Actions timeline

Total actions
7
Key actions
0
Committee
4
Jan 10, 2017
House · Failed
Session Sine Die
Mar 27, 2015
House · Referred to committee
Rule 19(a) / Re-referred to Rules Committee
Mar 6, 2015
House · Reported by committee
To Property Tax Subcommittee
Mar 2, 2015
House · Referred to committee
Assigned to Revenue & Finance Committee
Feb 18, 2015
House · Referred to committee
Referred to Rules Committee
0 primary · 1 co-sponsor

Sponsors

Role
Legislator
Party
State
District
Co
Photo of Michael W. Tryon
Michael W. Tryon
RRepublican
IL
66