PTELL-RESERVES
Summary
Amends the Property Tax Extension Limitation Law in the Property Tax Code. Provides that, if, at the end of any levy year, a taxing district has reserves of 50% or more of its operating budget for that levy year, then, for the next levy year, "extension limitation" means 0% or the rate of increase approved by the voters. Preempts the power of home rule units to tax. Effective immediately.
Bill status
failed
1 of 4 stages cleared
Introduction
Aug 2015
Committee Review
Floor Vote
Governor
Introduced Aug 5, 2015
Last action Jan 10, 2017
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
15
Key actions
1
Committee
4
Apr 8, 2016
Committee
Rule 19(a) / Re-referred to Rules Committee
lower
Mar 29, 2016
Lower · Passed
To Property Tax Subcommittee
lower
Mar 23, 2016
Committee
Assigned to Revenue & Finance Committee
lower
Aug 5, 2015
Committee
Referred to Rules Committee
lower
0 primary · 1 co-sponsor
Sponsors
No sponsor information available.
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