100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018
HB0420

 

Introduced , by Rep. Grant Wehrli

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 200/18-185
35 ILCS 200/18-205

    Amends the Property Tax Extension Limitation Law in the Property Tax Code. Provides that, if the total equalized assessed value of all taxable property in the taxing district for the current levy year (excluding new property, recovered tax increment value, and property that is annexed to or disconnected from the taxing district in the current levy year) is less than the total equalized assessed value of all taxable property in the taxing district for the previous levy year, then the extension limitation is (a) 0% or (b) the rate of increase approved by voters (instead of (a) the lesser of 5% or the percentage increase in the Consumer Price Index during the 12-month calendar year preceding the levy year or (b) the rate of increase approved by voters). Provides that a referendum to increase the extension limitation may not be conducted at a general primary or a consolidated primary election. Provides that certain supplemental information must be provided on the referendum ballot. Effective immediately.


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FISCAL NOTE ACT MAY APPLY
HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

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1    AN ACT concerning revenue.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Property Tax Code is amended by changing
5Sections 18-185 and 18-205 as follows:
 
6    (35 ILCS 200/18-185)
7    (Text of Section before amendment by P.A. 99-521)
8    Sec. 18-185. Short title; definitions. This Division 5 may
9be cited as the Property Tax Extension Limitation Law. As used
10in this Division 5:
11    "Consumer Price Index" means the Consumer Price Index for
12All Urban Consumers for all items published by the United
13States Department of Labor.
14    "Extension limitation" means (a) the lesser of 5% or the
15percentage increase in the Consumer Price Index during the
1612-month calendar year preceding the levy year or (b) the rate
17of increase approved by voters under Section 18-205.
18Notwithstanding any other provision of law, if the total
19equalized assessed value of all taxable property in the taxing
20district for the current levy year (excluding new property,
21recovered tax increment value, and property that is annexed to
22or disconnected from the taxing district in the current levy
23year) is less than the total equalized assessed value of all

 

 

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1taxable property in the taxing district for the previous levy
2year, then the extension limitation is (a) 0% or (b) the rate
3of increase approved by voters under Section 18-205.
4    "Affected county" means a county of 3,000,000 or more
5inhabitants or a county contiguous to a county of 3,000,000 or
6more inhabitants.
7    "Taxing district" has the same meaning provided in Section
81-150, except as otherwise provided in this Section. For the
91991 through 1994 levy years only, "taxing district" includes
10only each non-home rule taxing district having the majority of
11its 1990 equalized assessed value within any county or counties
12contiguous to a county with 3,000,000 or more inhabitants.
13Beginning with the 1995 levy year, "taxing district" includes
14only each non-home rule taxing district subject to this Law
15before the 1995 levy year and each non-home rule taxing
16district not subject to this Law before the 1995 levy year
17having the majority of its 1994 equalized assessed value in an
18affected county or counties. Beginning with the levy year in
19which this Law becomes applicable to a taxing district as
20provided in Section 18-213, "taxing district" also includes
21those taxing districts made subject to this Law as provided in
22Section 18-213.
23    "Aggregate extension" for taxing districts to which this
24Law applied before the 1995 levy year means the annual
25corporate extension for the taxing district and those special
26purpose extensions that are made annually for the taxing

 

 

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1district, excluding special purpose extensions: (a) made for
2the taxing district to pay interest or principal on general
3obligation bonds that were approved by referendum; (b) made for
4any taxing district to pay interest or principal on general
5obligation bonds issued before October 1, 1991; (c) made for
6any taxing district to pay interest or principal on bonds
7issued to refund or continue to refund those bonds issued
8before October 1, 1991; (d) made for any taxing district to pay
9interest or principal on bonds issued to refund or continue to
10refund bonds issued after October 1, 1991 that were approved by
11referendum; (e) made for any taxing district to pay interest or
12principal on revenue bonds issued before October 1, 1991 for
13payment of which a property tax levy or the full faith and
14credit of the unit of local government is pledged; however, a
15tax for the payment of interest or principal on those bonds
16shall be made only after the governing body of the unit of
17local government finds that all other sources for payment are
18insufficient to make those payments; (f) made for payments
19under a building commission lease when the lease payments are
20for the retirement of bonds issued by the commission before
21October 1, 1991, to pay for the building project; (g) made for
22payments due under installment contracts entered into before
23October 1, 1991; (h) made for payments of principal and
24interest on bonds issued under the Metropolitan Water
25Reclamation District Act to finance construction projects
26initiated before October 1, 1991; (i) made for payments of

 

 

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1principal and interest on limited bonds, as defined in Section
23 of the Local Government Debt Reform Act, in an amount not to
3exceed the debt service extension base less the amount in items
4(b), (c), (e), and (h) of this definition for non-referendum
5obligations, except obligations initially issued pursuant to
6referendum; (j) made for payments of principal and interest on
7bonds issued under Section 15 of the Local Government Debt
8Reform Act; (k) made by a school district that participates in
9the Special Education District of Lake County, created by
10special education joint agreement under Section 10-22.31 of the
11School Code, for payment of the school district's share of the
12amounts required to be contributed by the Special Education
13District of Lake County to the Illinois Municipal Retirement
14Fund under Article 7 of the Illinois Pension Code; the amount
15of any extension under this item (k) shall be certified by the
16school district to the county clerk; (l) made to fund expenses
17of providing joint recreational programs for persons with
18disabilities under Section 5-8 of the Park District Code or
19Section 11-95-14 of the Illinois Municipal Code; (m) made for
20temporary relocation loan repayment purposes pursuant to
21Sections 2-3.77 and 17-2.2d of the School Code; (n) made for
22payment of principal and interest on any bonds issued under the
23authority of Section 17-2.2d of the School Code; (o) made for
24contributions to a firefighter's pension fund created under
25Article 4 of the Illinois Pension Code, to the extent of the
26amount certified under item (5) of Section 4-134 of the

 

 

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1Illinois Pension Code; and (p) made for road purposes in the
2first year after a township assumes the rights, powers, duties,
3assets, property, liabilities, obligations, and
4responsibilities of a road district abolished under the
5provisions of Section 6-133 of the Illinois Highway Code.
6    "Aggregate extension" for the taxing districts to which
7this Law did not apply before the 1995 levy year (except taxing
8districts subject to this Law in accordance with Section
918-213) means the annual corporate extension for the taxing
10district and those special purpose extensions that are made
11annually for the taxing district, excluding special purpose
12extensions: (a) made for the taxing district to pay interest or
13principal on general obligation bonds that were approved by
14referendum; (b) made for any taxing district to pay interest or
15principal on general obligation bonds issued before March 1,
161995; (c) made for any taxing district to pay interest or
17principal on bonds issued to refund or continue to refund those
18bonds issued before March 1, 1995; (d) made for any taxing
19district to pay interest or principal on bonds issued to refund
20or continue to refund bonds issued after March 1, 1995 that
21were approved by referendum; (e) made for any taxing district
22to pay interest or principal on revenue bonds issued before
23March 1, 1995 for payment of which a property tax levy or the
24full faith and credit of the unit of local government is
25pledged; however, a tax for the payment of interest or
26principal on those bonds shall be made only after the governing

 

 

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1body of the unit of local government finds that all other
2sources for payment are insufficient to make those payments;
3(f) made for payments under a building commission lease when
4the lease payments are for the retirement of bonds issued by
5the commission before March 1, 1995 to pay for the building
6project; (g) made for payments due under installment contracts
7entered into before March 1, 1995; (h) made for payments of
8principal and interest on bonds issued under the Metropolitan
9Water Reclamation District Act to finance construction
10projects initiated before October 1, 1991; (h-4) made for
11stormwater management purposes by the Metropolitan Water
12Reclamation District of Greater Chicago under Section 12 of the
13Metropolitan Water Reclamation District Act; (i) made for
14payments of principal and interest on limited bonds, as defined
15in Section 3 of the Local Government Debt Reform Act, in an
16amount not to exceed the debt service extension base less the
17amount in items (b), (c), and (e) of this definition for
18non-referendum obligations, except obligations initially
19issued pursuant to referendum and bonds described in subsection
20(h) of this definition; (j) made for payments of principal and
21interest on bonds issued under Section 15 of the Local
22Government Debt Reform Act; (k) made for payments of principal
23and interest on bonds authorized by Public Act 88-503 and
24issued under Section 20a of the Chicago Park District Act for
25aquarium or museum projects; (l) made for payments of principal
26and interest on bonds authorized by Public Act 87-1191 or

 

 

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193-601 and (i) issued pursuant to Section 21.2 of the Cook
2County Forest Preserve District Act, (ii) issued under Section
342 of the Cook County Forest Preserve District Act for
4zoological park projects, or (iii) issued under Section 44.1 of
5the Cook County Forest Preserve District Act for botanical
6gardens projects; (m) made pursuant to Section 34-53.5 of the
7School Code, whether levied annually or not; (n) made to fund
8expenses of providing joint recreational programs for persons
9with disabilities under Section 5-8 of the Park District Code
10or Section 11-95-14 of the Illinois Municipal Code; (o) made by
11the Chicago Park District for recreational programs for persons
12with disabilities under subsection (c) of Section 7.06 of the
13Chicago Park District Act; (p) made for contributions to a
14firefighter's pension fund created under Article 4 of the
15Illinois Pension Code, to the extent of the amount certified
16under item (5) of Section 4-134 of the Illinois Pension Code;
17and (q) made by Ford Heights School District 169 under Section
1817-9.02 of the School Code.
19    "Aggregate extension" for all taxing districts to which
20this Law applies in accordance with Section 18-213, except for
21those taxing districts subject to paragraph (2) of subsection
22(e) of Section 18-213, means the annual corporate extension for
23the taxing district and those special purpose extensions that
24are made annually for the taxing district, excluding special
25purpose extensions: (a) made for the taxing district to pay
26interest or principal on general obligation bonds that were

 

 

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1approved by referendum; (b) made for any taxing district to pay
2interest or principal on general obligation bonds issued before
3the date on which the referendum making this Law applicable to
4the taxing district is held; (c) made for any taxing district
5to pay interest or principal on bonds issued to refund or
6continue to refund those bonds issued before the date on which
7the referendum making this Law applicable to the taxing
8district is held; (d) made for any taxing district to pay
9interest or principal on bonds issued to refund or continue to
10refund bonds issued after the date on which the referendum
11making this Law applicable to the taxing district is held if
12the bonds were approved by referendum after the date on which
13the referendum making this Law applicable to the taxing
14district is held; (e) made for any taxing district to pay
15interest or principal on revenue bonds issued before the date
16on which the referendum making this Law applicable to the
17taxing district is held for payment of which a property tax
18levy or the full faith and credit of the unit of local
19government is pledged; however, a tax for the payment of
20interest or principal on those bonds shall be made only after
21the governing body of the unit of local government finds that
22all other sources for payment are insufficient to make those
23payments; (f) made for payments under a building commission
24lease when the lease payments are for the retirement of bonds
25issued by the commission before the date on which the
26referendum making this Law applicable to the taxing district is

 

 

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1held to pay for the building project; (g) made for payments due
2under installment contracts entered into before the date on
3which the referendum making this Law applicable to the taxing
4district is held; (h) made for payments of principal and
5interest on limited bonds, as defined in Section 3 of the Local
6Government Debt Reform Act, in an amount not to exceed the debt
7service extension base less the amount in items (b), (c), and
8(e) of this definition for non-referendum obligations, except
9obligations initially issued pursuant to referendum; (i) made
10for payments of principal and interest on bonds issued under
11Section 15 of the Local Government Debt Reform Act; (j) made
12for a qualified airport authority to pay interest or principal
13on general obligation bonds issued for the purpose of paying
14obligations due under, or financing airport facilities
15required to be acquired, constructed, installed or equipped
16pursuant to, contracts entered into before March 1, 1996 (but
17not including any amendments to such a contract taking effect
18on or after that date); (k) made to fund expenses of providing
19joint recreational programs for persons with disabilities
20under Section 5-8 of the Park District Code or Section 11-95-14
21of the Illinois Municipal Code; (l) made for contributions to a
22firefighter's pension fund created under Article 4 of the
23Illinois Pension Code, to the extent of the amount certified
24under item (5) of Section 4-134 of the Illinois Pension Code;
25and (m) made for the taxing district to pay interest or
26principal on general obligation bonds issued pursuant to

 

 

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1Section 19-3.10 of the School Code.
2    "Aggregate extension" for all taxing districts to which
3this Law applies in accordance with paragraph (2) of subsection
4(e) of Section 18-213 means the annual corporate extension for
5the taxing district and those special purpose extensions that
6are made annually for the taxing district, excluding special
7purpose extensions: (a) made for the taxing district to pay
8interest or principal on general obligation bonds that were
9approved by referendum; (b) made for any taxing district to pay
10interest or principal on general obligation bonds issued before
11the effective date of this amendatory Act of 1997; (c) made for
12any taxing district to pay interest or principal on bonds
13issued to refund or continue to refund those bonds issued
14before the effective date of this amendatory Act of 1997; (d)
15made for any taxing district to pay interest or principal on
16bonds issued to refund or continue to refund bonds issued after
17the effective date of this amendatory Act of 1997 if the bonds
18were approved by referendum after the effective date of this
19amendatory Act of 1997; (e) made for any taxing district to pay
20interest or principal on revenue bonds issued before the
21effective date of this amendatory Act of 1997 for payment of
22which a property tax levy or the full faith and credit of the
23unit of local government is pledged; however, a tax for the
24payment of interest or principal on those bonds shall be made
25only after the governing body of the unit of local government
26finds that all other sources for payment are insufficient to

 

 

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1make those payments; (f) made for payments under a building
2commission lease when the lease payments are for the retirement
3of bonds issued by the commission before the effective date of
4this amendatory Act of 1997 to pay for the building project;
5(g) made for payments due under installment contracts entered
6into before the effective date of this amendatory Act of 1997;
7(h) made for payments of principal and interest on limited
8bonds, as defined in Section 3 of the Local Government Debt
9Reform Act, in an amount not to exceed the debt service
10extension base less the amount in items (b), (c), and (e) of
11this definition for non-referendum obligations, except
12obligations initially issued pursuant to referendum; (i) made
13for payments of principal and interest on bonds issued under
14Section 15 of the Local Government Debt Reform Act; (j) made
15for a qualified airport authority to pay interest or principal
16on general obligation bonds issued for the purpose of paying
17obligations due under, or financing airport facilities
18required to be acquired, constructed, installed or equipped
19pursuant to, contracts entered into before March 1, 1996 (but
20not including any amendments to such a contract taking effect
21on or after that date); (k) made to fund expenses of providing
22joint recreational programs for persons with disabilities
23under Section 5-8 of the Park District Code or Section 11-95-14
24of the Illinois Municipal Code; and (l) made for contributions
25to a firefighter's pension fund created under Article 4 of the
26Illinois Pension Code, to the extent of the amount certified

 

 

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1under item (5) of Section 4-134 of the Illinois Pension Code.
2    "Debt service extension base" means an amount equal to that
3portion of the extension for a taxing district for the 1994
4levy year, or for those taxing districts subject to this Law in
5accordance with Section 18-213, except for those subject to
6paragraph (2) of subsection (e) of Section 18-213, for the levy
7year in which the referendum making this Law applicable to the
8taxing district is held, or for those taxing districts subject
9to this Law in accordance with paragraph (2) of subsection (e)
10of Section 18-213 for the 1996 levy year, constituting an
11extension for payment of principal and interest on bonds issued
12by the taxing district without referendum, but not including
13excluded non-referendum bonds. For park districts (i) that were
14first subject to this Law in 1991 or 1995 and (ii) whose
15extension for the 1994 levy year for the payment of principal
16and interest on bonds issued by the park district without
17referendum (but not including excluded non-referendum bonds)
18was less than 51% of the amount for the 1991 levy year
19constituting an extension for payment of principal and interest
20on bonds issued by the park district without referendum (but
21not including excluded non-referendum bonds), "debt service
22extension base" means an amount equal to that portion of the
23extension for the 1991 levy year constituting an extension for
24payment of principal and interest on bonds issued by the park
25district without referendum (but not including excluded
26non-referendum bonds). A debt service extension base

 

 

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1established or increased at any time pursuant to any provision
2of this Law, except Section 18-212, shall be increased each
3year commencing with the later of (i) the 2009 levy year or
4(ii) the first levy year in which this Law becomes applicable
5to the taxing district, by the lesser of 5% or the percentage
6increase in the Consumer Price Index during the 12-month
7calendar year preceding the levy year. The debt service
8extension base may be established or increased as provided
9under Section 18-212. "Excluded non-referendum bonds" means
10(i) bonds authorized by Public Act 88-503 and issued under
11Section 20a of the Chicago Park District Act for aquarium and
12museum projects; (ii) bonds issued under Section 15 of the
13Local Government Debt Reform Act; or (iii) refunding
14obligations issued to refund or to continue to refund
15obligations initially issued pursuant to referendum.
16    "Special purpose extensions" include, but are not limited
17to, extensions for levies made on an annual basis for
18unemployment and workers' compensation, self-insurance,
19contributions to pension plans, and extensions made pursuant to
20Section 6-601 of the Illinois Highway Code for a road
21district's permanent road fund whether levied annually or not.
22The extension for a special service area is not included in the
23aggregate extension.
24    "Aggregate extension base" means the taxing district's
25last preceding aggregate extension as adjusted under Sections
2618-135, 18-215, and 18-230. An adjustment under Section 18-135

 

 

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1shall be made for the 2007 levy year and all subsequent levy
2years whenever one or more counties within which a taxing
3district is located (i) used estimated valuations or rates when
4extending taxes in the taxing district for the last preceding
5levy year that resulted in the over or under extension of
6taxes, or (ii) increased or decreased the tax extension for the
7last preceding levy year as required by Section 18-135(c).
8Whenever an adjustment is required under Section 18-135, the
9aggregate extension base of the taxing district shall be equal
10to the amount that the aggregate extension of the taxing
11district would have been for the last preceding levy year if
12either or both (i) actual, rather than estimated, valuations or
13rates had been used to calculate the extension of taxes for the
14last levy year, or (ii) the tax extension for the last
15preceding levy year had not been adjusted as required by
16subsection (c) of Section 18-135.
17    Notwithstanding any other provision of law, for levy year
182012, the aggregate extension base for West Northfield School
19District No. 31 in Cook County shall be $12,654,592.
20    "Levy year" has the same meaning as "year" under Section
211-155.
22    "New property" means (i) the assessed value, after final
23board of review or board of appeals action, of new improvements
24or additions to existing improvements on any parcel of real
25property that increase the assessed value of that real property
26during the levy year multiplied by the equalization factor

 

 

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1issued by the Department under Section 17-30, (ii) the assessed
2value, after final board of review or board of appeals action,
3of real property not exempt from real estate taxation, which
4real property was exempt from real estate taxation for any
5portion of the immediately preceding levy year, multiplied by
6the equalization factor issued by the Department under Section
717-30, including the assessed value, upon final stabilization
8of occupancy after new construction is complete, of any real
9property located within the boundaries of an otherwise or
10previously exempt military reservation that is intended for
11residential use and owned by or leased to a private corporation
12or other entity, (iii) in counties that classify in accordance
13with Section 4 of Article IX of the Illinois Constitution, an
14incentive property's additional assessed value resulting from
15a scheduled increase in the level of assessment as applied to
16the first year final board of review market value, and (iv) any
17increase in assessed value due to oil or gas production from an
18oil or gas well required to be permitted under the Hydraulic
19Fracturing Regulatory Act that was not produced in or accounted
20for during the previous levy year. In addition, the county
21clerk in a county containing a population of 3,000,000 or more
22shall include in the 1997 recovered tax increment value for any
23school district, any recovered tax increment value that was
24applicable to the 1995 tax year calculations.
25    "Qualified airport authority" means an airport authority
26organized under the Airport Authorities Act and located in a

 

 

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1county bordering on the State of Wisconsin and having a
2population in excess of 200,000 and not greater than 500,000.
3    "Recovered tax increment value" means, except as otherwise
4provided in this paragraph, the amount of the current year's
5equalized assessed value, in the first year after a
6municipality terminates the designation of an area as a
7redevelopment project area previously established under the
8Tax Increment Allocation Development Act in the Illinois
9Municipal Code, previously established under the Industrial
10Jobs Recovery Law in the Illinois Municipal Code, previously
11established under the Economic Development Project Area Tax
12Increment Act of 1995, or previously established under the
13Economic Development Area Tax Increment Allocation Act, of each
14taxable lot, block, tract, or parcel of real property in the
15redevelopment project area over and above the initial equalized
16assessed value of each property in the redevelopment project
17area. For the taxes which are extended for the 1997 levy year,
18the recovered tax increment value for a non-home rule taxing
19district that first became subject to this Law for the 1995
20levy year because a majority of its 1994 equalized assessed
21value was in an affected county or counties shall be increased
22if a municipality terminated the designation of an area in 1993
23as a redevelopment project area previously established under
24the Tax Increment Allocation Development Act in the Illinois
25Municipal Code, previously established under the Industrial
26Jobs Recovery Law in the Illinois Municipal Code, or previously

 

 

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1established under the Economic Development Area Tax Increment
2Allocation Act, by an amount equal to the 1994 equalized
3assessed value of each taxable lot, block, tract, or parcel of
4real property in the redevelopment project area over and above
5the initial equalized assessed value of each property in the
6redevelopment project area. In the first year after a
7municipality removes a taxable lot, block, tract, or parcel of
8real property from a redevelopment project area established
9under the Tax Increment Allocation Development Act in the
10Illinois Municipal Code, the Industrial Jobs Recovery Law in
11the Illinois Municipal Code, or the Economic Development Area
12Tax Increment Allocation Act, "recovered tax increment value"
13means the amount of the current year's equalized assessed value
14of each taxable lot, block, tract, or parcel of real property
15removed from the redevelopment project area over and above the
16initial equalized assessed value of that real property before
17removal from the redevelopment project area.
18    Except as otherwise provided in this Section, "limiting
19rate" means a fraction the numerator of which is the last
20preceding aggregate extension base times an amount equal to one
21plus the extension limitation defined in this Section and the
22denominator of which is the current year's equalized assessed
23value of all real property in the territory under the
24jurisdiction of the taxing district during the prior levy year.
25For those taxing districts that reduced their aggregate
26extension for the last preceding levy year, the highest

 

 

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1aggregate extension in any of the last 3 preceding levy years
2shall be used for the purpose of computing the limiting rate.
3The denominator shall not include new property or the recovered
4tax increment value. If a new rate, a rate decrease, or a
5limiting rate increase has been approved at an election held
6after March 21, 2006, then (i) the otherwise applicable
7limiting rate shall be increased by the amount of the new rate
8or shall be reduced by the amount of the rate decrease, as the
9case may be, or (ii) in the case of a limiting rate increase,
10the limiting rate shall be equal to the rate set forth in the
11proposition approved by the voters for each of the years
12specified in the proposition, after which the limiting rate of
13the taxing district shall be calculated as otherwise provided.
14In the case of a taxing district that obtained referendum
15approval for an increased limiting rate on March 20, 2012, the
16limiting rate for tax year 2012 shall be the rate that
17generates the approximate total amount of taxes extendable for
18that tax year, as set forth in the proposition approved by the
19voters; this rate shall be the final rate applied by the county
20clerk for the aggregate of all capped funds of the district for
21tax year 2012.
22(Source: P.A. 98-6, eff. 3-29-13; 98-23, eff. 6-17-13; 99-143,
23eff. 7-27-15.)
 
24    (Text of Section after amendment by P.A. 99-521)
25    Sec. 18-185. Short title; definitions. This Division 5 may

 

 

HB0420- 19 -LRB100 04243 HLH 14249 b

1be cited as the Property Tax Extension Limitation Law. As used
2in this Division 5:
3    "Consumer Price Index" means the Consumer Price Index for
4All Urban Consumers for all items published by the United
5States Department of Labor.
6    "Extension limitation" means (a) the lesser of 5% or the
7percentage increase in the Consumer Price Index during the
812-month calendar year preceding the levy year or (b) the rate
9of increase approved by voters under Section 18-205.
10Notwithstanding any other provision of law, if the total
11equalized assessed value of all taxable property in the taxing
12district for the current levy year (excluding new property,
13recovered tax increment value, and property that is annexed to
14or disconnected from the taxing district in the current levy
15year) is less than the total equalized assessed value of all
16taxable property in the taxing district for the previous levy
17year, then the extension limitation is (a) 0% or (b) the rate
18of increase approved by voters under Section 18-205.
19    "Affected county" means a county of 3,000,000 or more
20inhabitants or a county contiguous to a county of 3,000,000 or
21more inhabitants.
22    "Taxing district" has the same meaning provided in Section
231-150, except as otherwise provided in this Section. For the
241991 through 1994 levy years only, "taxing district" includes
25only each non-home rule taxing district having the majority of
26its 1990 equalized assessed value within any county or counties

 

 

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1contiguous to a county with 3,000,000 or more inhabitants.
2Beginning with the 1995 levy year, "taxing district" includes
3only each non-home rule taxing district subject to this Law
4before the 1995 levy year and each non-home rule taxing
5district not subject to this Law before the 1995 levy year
6having the majority of its 1994 equalized assessed value in an
7affected county or counties. Beginning with the levy year in
8which this Law becomes applicable to a taxing district as
9provided in Section 18-213, "taxing district" also includes
10those taxing districts made subject to this Law as provided in
11Section 18-213.
12    "Aggregate extension" for taxing districts to which this
13Law applied before the 1995 levy year means the annual
14corporate extension for the taxing district and those special
15purpose extensions that are made annually for the taxing
16district, excluding special purpose extensions: (a) made for
17the taxing district to pay interest or principal on general
18obligation bonds that were approved by referendum; (b) made for
19any taxing district to pay interest or principal on general
20obligation bonds issued before October 1, 1991; (c) made for
21any taxing district to pay interest or principal on bonds
22issued to refund or continue to refund those bonds issued
23before October 1, 1991; (d) made for any taxing district to pay
24interest or principal on bonds issued to refund or continue to
25refund bonds issued after October 1, 1991 that were approved by
26referendum; (e) made for any taxing district to pay interest or

 

 

HB0420- 21 -LRB100 04243 HLH 14249 b

1principal on revenue bonds issued before October 1, 1991 for
2payment of which a property tax levy or the full faith and
3credit of the unit of local government is pledged; however, a
4tax for the payment of interest or principal on those bonds
5shall be made only after the governing body of the unit of
6local government finds that all other sources for payment are
7insufficient to make those payments; (f) made for payments
8under a building commission lease when the lease payments are
9for the retirement of bonds issued by the commission before
10October 1, 1991, to pay for the building project; (g) made for
11payments due under installment contracts entered into before
12October 1, 1991; (h) made for payments of principal and
13interest on bonds issued under the Metropolitan Water
14Reclamation District Act to finance construction projects
15initiated before October 1, 1991; (i) made for payments of
16principal and interest on limited bonds, as defined in Section
173 of the Local Government Debt Reform Act, in an amount not to
18exceed the debt service extension base less the amount in items
19(b), (c), (e), and (h) of this definition for non-referendum
20obligations, except obligations initially issued pursuant to
21referendum; (j) made for payments of principal and interest on
22bonds issued under Section 15 of the Local Government Debt
23Reform Act; (k) made by a school district that participates in
24the Special Education District of Lake County, created by
25special education joint agreement under Section 10-22.31 of the
26School Code, for payment of the school district's share of the

 

 

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1amounts required to be contributed by the Special Education
2District of Lake County to the Illinois Municipal Retirement
3Fund under Article 7 of the Illinois Pension Code; the amount
4of any extension under this item (k) shall be certified by the
5school district to the county clerk; (l) made to fund expenses
6of providing joint recreational programs for persons with
7disabilities under Section 5-8 of the Park District Code or
8Section 11-95-14 of the Illinois Municipal Code; (m) made for
9temporary relocation loan repayment purposes pursuant to
10Sections 2-3.77 and 17-2.2d of the School Code; (n) made for
11payment of principal and interest on any bonds issued under the
12authority of Section 17-2.2d of the School Code; (o) made for
13contributions to a firefighter's pension fund created under
14Article 4 of the Illinois Pension Code, to the extent of the
15amount certified under item (5) of Section 4-134 of the
16Illinois Pension Code; and (p) made for road purposes in the
17first year after a township assumes the rights, powers, duties,
18assets, property, liabilities, obligations, and
19responsibilities of a road district abolished under the
20provisions of Section 6-133 of the Illinois Highway Code.
21    "Aggregate extension" for the taxing districts to which
22this Law did not apply before the 1995 levy year (except taxing
23districts subject to this Law in accordance with Section
2418-213) means the annual corporate extension for the taxing
25district and those special purpose extensions that are made
26annually for the taxing district, excluding special purpose

 

 

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1extensions: (a) made for the taxing district to pay interest or
2principal on general obligation bonds that were approved by
3referendum; (b) made for any taxing district to pay interest or
4principal on general obligation bonds issued before March 1,
51995; (c) made for any taxing district to pay interest or
6principal on bonds issued to refund or continue to refund those
7bonds issued before March 1, 1995; (d) made for any taxing
8district to pay interest or principal on bonds issued to refund
9or continue to refund bonds issued after March 1, 1995 that
10were approved by referendum; (e) made for any taxing district
11to pay interest or principal on revenue bonds issued before
12March 1, 1995 for payment of which a property tax levy or the
13full faith and credit of the unit of local government is
14pledged; however, a tax for the payment of interest or
15principal on those bonds shall be made only after the governing
16body of the unit of local government finds that all other
17sources for payment are insufficient to make those payments;
18(f) made for payments under a building commission lease when
19the lease payments are for the retirement of bonds issued by
20the commission before March 1, 1995 to pay for the building
21project; (g) made for payments due under installment contracts
22entered into before March 1, 1995; (h) made for payments of
23principal and interest on bonds issued under the Metropolitan
24Water Reclamation District Act to finance construction
25projects initiated before October 1, 1991; (h-4) made for
26stormwater management purposes by the Metropolitan Water

 

 

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1Reclamation District of Greater Chicago under Section 12 of the
2Metropolitan Water Reclamation District Act; (i) made for
3payments of principal and interest on limited bonds, as defined
4in Section 3 of the Local Government Debt Reform Act, in an
5amount not to exceed the debt service extension base less the
6amount in items (b), (c), and (e) of this definition for
7non-referendum obligations, except obligations initially
8issued pursuant to referendum and bonds described in subsection
9(h) of this definition; (j) made for payments of principal and
10interest on bonds issued under Section 15 of the Local
11Government Debt Reform Act; (k) made for payments of principal
12and interest on bonds authorized by Public Act 88-503 and
13issued under Section 20a of the Chicago Park District Act for
14aquarium or museum projects; (l) made for payments of principal
15and interest on bonds authorized by Public Act 87-1191 or
1693-601 and (i) issued pursuant to Section 21.2 of the Cook
17County Forest Preserve District Act, (ii) issued under Section
1842 of the Cook County Forest Preserve District Act for
19zoological park projects, or (iii) issued under Section 44.1 of
20the Cook County Forest Preserve District Act for botanical
21gardens projects; (m) made pursuant to Section 34-53.5 of the
22School Code, whether levied annually or not; (n) made to fund
23expenses of providing joint recreational programs for persons
24with disabilities under Section 5-8 of the Park District Code
25or Section 11-95-14 of the Illinois Municipal Code; (o) made by
26the Chicago Park District for recreational programs for persons

 

 

HB0420- 25 -LRB100 04243 HLH 14249 b

1with disabilities under subsection (c) of Section 7.06 of the
2Chicago Park District Act; (p) made for contributions to a
3firefighter's pension fund created under Article 4 of the
4Illinois Pension Code, to the extent of the amount certified
5under item (5) of Section 4-134 of the Illinois Pension Code;
6(q) made by Ford Heights School District 169 under Section
717-9.02 of the School Code; and (r) made for the purpose of
8making employer contributions to the Public School Teachers'
9Pension and Retirement Fund of Chicago under Section 34-53 of
10the School Code.
11    "Aggregate extension" for all taxing districts to which
12this Law applies in accordance with Section 18-213, except for
13those taxing districts subject to paragraph (2) of subsection
14(e) of Section 18-213, means the annual corporate extension for
15the taxing district and those special purpose extensions that
16are made annually for the taxing district, excluding special
17purpose extensions: (a) made for the taxing district to pay
18interest or principal on general obligation bonds that were
19approved by referendum; (b) made for any taxing district to pay
20interest or principal on general obligation bonds issued before
21the date on which the referendum making this Law applicable to
22the taxing district is held; (c) made for any taxing district
23to pay interest or principal on bonds issued to refund or
24continue to refund those bonds issued before the date on which
25the referendum making this Law applicable to the taxing
26district is held; (d) made for any taxing district to pay

 

 

HB0420- 26 -LRB100 04243 HLH 14249 b

1interest or principal on bonds issued to refund or continue to
2refund bonds issued after the date on which the referendum
3making this Law applicable to the taxing district is held if
4the bonds were approved by referendum after the date on which
5the referendum making this Law applicable to the taxing
6district is held; (e) made for any taxing district to pay
7interest or principal on revenue bonds issued before the date
8on which the referendum making this Law applicable to the
9taxing district is held for payment of which a property tax
10levy or the full faith and credit of the unit of local
11government is pledged; however, a tax for the payment of
12interest or principal on those bonds shall be made only after
13the governing body of the unit of local government finds that
14all other sources for payment are insufficient to make those
15payments; (f) made for payments under a building commission
16lease when the lease payments are for the retirement of bonds
17issued by the commission before the date on which the
18referendum making this Law applicable to the taxing district is
19held to pay for the building project; (g) made for payments due
20under installment contracts entered into before the date on
21which the referendum making this Law applicable to the taxing
22district is held; (h) made for payments of principal and
23interest on limited bonds, as defined in Section 3 of the Local
24Government Debt Reform Act, in an amount not to exceed the debt
25service extension base less the amount in items (b), (c), and
26(e) of this definition for non-referendum obligations, except

 

 

HB0420- 27 -LRB100 04243 HLH 14249 b

1obligations initially issued pursuant to referendum; (i) made
2for payments of principal and interest on bonds issued under
3Section 15 of the Local Government Debt Reform Act; (j) made
4for a qualified airport authority to pay interest or principal
5on general obligation bonds issued for the purpose of paying
6obligations due under, or financing airport facilities
7required to be acquired, constructed, installed or equipped
8pursuant to, contracts entered into before March 1, 1996 (but
9not including any amendments to such a contract taking effect
10on or after that date); (k) made to fund expenses of providing
11joint recreational programs for persons with disabilities
12under Section 5-8 of the Park District Code or Section 11-95-14
13of the Illinois Municipal Code; (l) made for contributions to a
14firefighter's pension fund created under Article 4 of the
15Illinois Pension Code, to the extent of the amount certified
16under item (5) of Section 4-134 of the Illinois Pension Code;
17and (m) made for the taxing district to pay interest or
18principal on general obligation bonds issued pursuant to
19Section 19-3.10 of the School Code.
20    "Aggregate extension" for all taxing districts to which
21this Law applies in accordance with paragraph (2) of subsection
22(e) of Section 18-213 means the annual corporate extension for
23the taxing district and those special purpose extensions that
24are made annually for the taxing district, excluding special
25purpose extensions: (a) made for the taxing district to pay
26interest or principal on general obligation bonds that were

 

 

HB0420- 28 -LRB100 04243 HLH 14249 b

1approved by referendum; (b) made for any taxing district to pay
2interest or principal on general obligation bonds issued before
3the effective date of this amendatory Act of 1997; (c) made for
4any taxing district to pay interest or principal on bonds
5issued to refund or continue to refund those bonds issued
6before the effective date of this amendatory Act of 1997; (d)
7made for any taxing district to pay interest or principal on
8bonds issued to refund or continue to refund bonds issued after
9the effective date of this amendatory Act of 1997 if the bonds
10were approved by referendum after the effective date of this
11amendatory Act of 1997; (e) made for any taxing district to pay
12interest or principal on revenue bonds issued before the
13effective date of this amendatory Act of 1997 for payment of
14which a property tax levy or the full faith and credit of the
15unit of local government is pledged; however, a tax for the
16payment of interest or principal on those bonds shall be made
17only after the governing body of the unit of local government
18finds that all other sources for payment are insufficient to
19make those payments; (f) made for payments under a building
20commission lease when the lease payments are for the retirement
21of bonds issued by the commission before the effective date of
22this amendatory Act of 1997 to pay for the building project;
23(g) made for payments due under installment contracts entered
24into before the effective date of this amendatory Act of 1997;
25(h) made for payments of principal and interest on limited
26bonds, as defined in Section 3 of the Local Government Debt

 

 

HB0420- 29 -LRB100 04243 HLH 14249 b

1Reform Act, in an amount not to exceed the debt service
2extension base less the amount in items (b), (c), and (e) of
3this definition for non-referendum obligations, except
4obligations initially issued pursuant to referendum; (i) made
5for payments of principal and interest on bonds issued under
6Section 15 of the Local Government Debt Reform Act; (j) made
7for a qualified airport authority to pay interest or principal
8on general obligation bonds issued for the purpose of paying
9obligations due under, or financing airport facilities
10required to be acquired, constructed, installed or equipped
11pursuant to, contracts entered into before March 1, 1996 (but
12not including any amendments to such a contract taking effect
13on or after that date); (k) made to fund expenses of providing
14joint recreational programs for persons with disabilities
15under Section 5-8 of the Park District Code or Section 11-95-14
16of the Illinois Municipal Code; and (l) made for contributions
17to a firefighter's pension fund created under Article 4 of the
18Illinois Pension Code, to the extent of the amount certified
19under item (5) of Section 4-134 of the Illinois Pension Code.
20    "Debt service extension base" means an amount equal to that
21portion of the extension for a taxing district for the 1994
22levy year, or for those taxing districts subject to this Law in
23accordance with Section 18-213, except for those subject to
24paragraph (2) of subsection (e) of Section 18-213, for the levy
25year in which the referendum making this Law applicable to the
26taxing district is held, or for those taxing districts subject

 

 

HB0420- 30 -LRB100 04243 HLH 14249 b

1to this Law in accordance with paragraph (2) of subsection (e)
2of Section 18-213 for the 1996 levy year, constituting an
3extension for payment of principal and interest on bonds issued
4by the taxing district without referendum, but not including
5excluded non-referendum bonds. For park districts (i) that were
6first subject to this Law in 1991 or 1995 and (ii) whose
7extension for the 1994 levy year for the payment of principal
8and interest on bonds issued by the park district without
9referendum (but not including excluded non-referendum bonds)
10was less than 51% of the amount for the 1991 levy year
11constituting an extension for payment of principal and interest
12on bonds issued by the park district without referendum (but
13not including excluded non-referendum bonds), "debt service
14extension base" means an amount equal to that portion of the
15extension for the 1991 levy year constituting an extension for
16payment of principal and interest on bonds issued by the park
17district without referendum (but not including excluded
18non-referendum bonds). A debt service extension base
19established or increased at any time pursuant to any provision
20of this Law, except Section 18-212, shall be increased each
21year commencing with the later of (i) the 2009 levy year or
22(ii) the first levy year in which this Law becomes applicable
23to the taxing district, by the lesser of 5% or the percentage
24increase in the Consumer Price Index during the 12-month
25calendar year preceding the levy year. The debt service
26extension base may be established or increased as provided

 

 

HB0420- 31 -LRB100 04243 HLH 14249 b

1under Section 18-212. "Excluded non-referendum bonds" means
2(i) bonds authorized by Public Act 88-503 and issued under
3Section 20a of the Chicago Park District Act for aquarium and
4museum projects; (ii) bonds issued under Section 15 of the
5Local Government Debt Reform Act; or (iii) refunding
6obligations issued to refund or to continue to refund
7obligations initially issued pursuant to referendum.
8    "Special purpose extensions" include, but are not limited
9to, extensions for levies made on an annual basis for
10unemployment and workers' compensation, self-insurance,
11contributions to pension plans, and extensions made pursuant to
12Section 6-601 of the Illinois Highway Code for a road
13district's permanent road fund whether levied annually or not.
14The extension for a special service area is not included in the
15aggregate extension.
16    "Aggregate extension base" means the taxing district's
17last preceding aggregate extension as adjusted under Sections
1818-135, 18-215, and 18-230. An adjustment under Section 18-135
19shall be made for the 2007 levy year and all subsequent levy
20years whenever one or more counties within which a taxing
21district is located (i) used estimated valuations or rates when
22extending taxes in the taxing district for the last preceding
23levy year that resulted in the over or under extension of
24taxes, or (ii) increased or decreased the tax extension for the
25last preceding levy year as required by Section 18-135(c).
26Whenever an adjustment is required under Section 18-135, the

 

 

HB0420- 32 -LRB100 04243 HLH 14249 b

1aggregate extension base of the taxing district shall be equal
2to the amount that the aggregate extension of the taxing
3district would have been for the last preceding levy year if
4either or both (i) actual, rather than estimated, valuations or
5rates had been used to calculate the extension of taxes for the
6last levy year, or (ii) the tax extension for the last
7preceding levy year had not been adjusted as required by
8subsection (c) of Section 18-135.
9    Notwithstanding any other provision of law, for levy year
102012, the aggregate extension base for West Northfield School
11District No. 31 in Cook County shall be $12,654,592.
12    "Levy year" has the same meaning as "year" under Section
131-155.
14    "New property" means (i) the assessed value, after final
15board of review or board of appeals action, of new improvements
16or additions to existing improvements on any parcel of real
17property that increase the assessed value of that real property
18during the levy year multiplied by the equalization factor
19issued by the Department under Section 17-30, (ii) the assessed
20value, after final board of review or board of appeals action,
21of real property not exempt from real estate taxation, which
22real property was exempt from real estate taxation for any
23portion of the immediately preceding levy year, multiplied by
24the equalization factor issued by the Department under Section
2517-30, including the assessed value, upon final stabilization
26of occupancy after new construction is complete, of any real

 

 

HB0420- 33 -LRB100 04243 HLH 14249 b

1property located within the boundaries of an otherwise or
2previously exempt military reservation that is intended for
3residential use and owned by or leased to a private corporation
4or other entity, (iii) in counties that classify in accordance
5with Section 4 of Article IX of the Illinois Constitution, an
6incentive property's additional assessed value resulting from
7a scheduled increase in the level of assessment as applied to
8the first year final board of review market value, and (iv) any
9increase in assessed value due to oil or gas production from an
10oil or gas well required to be permitted under the Hydraulic
11Fracturing Regulatory Act that was not produced in or accounted
12for during the previous levy year. In addition, the county
13clerk in a county containing a population of 3,000,000 or more
14shall include in the 1997 recovered tax increment value for any
15school district, any recovered tax increment value that was
16applicable to the 1995 tax year calculations.
17    "Qualified airport authority" means an airport authority
18organized under the Airport Authorities Act and located in a
19county bordering on the State of Wisconsin and having a
20population in excess of 200,000 and not greater than 500,000.
21    "Recovered tax increment value" means, except as otherwise
22provided in this paragraph, the amount of the current year's
23equalized assessed value, in the first year after a
24municipality terminates the designation of an area as a
25redevelopment project area previously established under the
26Tax Increment Allocation Development Act in the Illinois

 

 

HB0420- 34 -LRB100 04243 HLH 14249 b

1Municipal Code, previously established under the Industrial
2Jobs Recovery Law in the Illinois Municipal Code, previously
3established under the Economic Development Project Area Tax
4Increment Act of 1995, or previously established under the
5Economic Development Area Tax Increment Allocation Act, of each
6taxable lot, block, tract, or parcel of real property in the
7redevelopment project area over and above the initial equalized
8assessed value of each property in the redevelopment project
9area. For the taxes which are extended for the 1997 levy year,
10the recovered tax increment value for a non-home rule taxing
11district that first became subject to this Law for the 1995
12levy year because a majority of its 1994 equalized assessed
13value was in an affected county or counties shall be increased
14if a municipality terminated the designation of an area in 1993
15as a redevelopment project area previously established under
16the Tax Increment Allocation Development Act in the Illinois
17Municipal Code, previously established under the Industrial
18Jobs Recovery Law in the Illinois Municipal Code, or previously
19established under the Economic Development Area Tax Increment
20Allocation Act, by an amount equal to the 1994 equalized
21assessed value of each taxable lot, block, tract, or parcel of
22real property in the redevelopment project area over and above
23the initial equalized assessed value of each property in the
24redevelopment project area. In the first year after a
25municipality removes a taxable lot, block, tract, or parcel of
26real property from a redevelopment project area established

 

 

HB0420- 35 -LRB100 04243 HLH 14249 b

1under the Tax Increment Allocation Development Act in the
2Illinois Municipal Code, the Industrial Jobs Recovery Law in
3the Illinois Municipal Code, or the Economic Development Area
4Tax Increment Allocation Act, "recovered tax increment value"
5means the amount of the current year's equalized assessed value
6of each taxable lot, block, tract, or parcel of real property
7removed from the redevelopment project area over and above the
8initial equalized assessed value of that real property before
9removal from the redevelopment project area.
10    Except as otherwise provided in this Section, "limiting
11rate" means a fraction the numerator of which is the last
12preceding aggregate extension base times an amount equal to one
13plus the extension limitation defined in this Section and the
14denominator of which is the current year's equalized assessed
15value of all real property in the territory under the
16jurisdiction of the taxing district during the prior levy year.
17For those taxing districts that reduced their aggregate
18extension for the last preceding levy year, the highest
19aggregate extension in any of the last 3 preceding levy years
20shall be used for the purpose of computing the limiting rate.
21The denominator shall not include new property or the recovered
22tax increment value. If a new rate, a rate decrease, or a
23limiting rate increase has been approved at an election held
24after March 21, 2006, then (i) the otherwise applicable
25limiting rate shall be increased by the amount of the new rate
26or shall be reduced by the amount of the rate decrease, as the

 

 

HB0420- 36 -LRB100 04243 HLH 14249 b

1case may be, or (ii) in the case of a limiting rate increase,
2the limiting rate shall be equal to the rate set forth in the
3proposition approved by the voters for each of the years
4specified in the proposition, after which the limiting rate of
5the taxing district shall be calculated as otherwise provided.
6In the case of a taxing district that obtained referendum
7approval for an increased limiting rate on March 20, 2012, the
8limiting rate for tax year 2012 shall be the rate that
9generates the approximate total amount of taxes extendable for
10that tax year, as set forth in the proposition approved by the
11voters; this rate shall be the final rate applied by the county
12clerk for the aggregate of all capped funds of the district for
13tax year 2012.
14(Source: P.A. 98-6, eff. 3-29-13; 98-23, eff. 6-17-13; 99-143,
15eff. 7-27-15; 99-521, eff. 6-1-17.)
 
16    (35 ILCS 200/18-205)
17    Sec. 18-205. Referendum to increase the extension
18limitation. A taxing district is limited to an extension
19limitation as defined in Section 18-185 of 5% or the percentage
20increase in the Consumer Price Index during the 12-month
21calendar year preceding the levy year, whichever is less. A
22taxing district may increase its extension limitation for one
23or more levy years if that taxing district holds a referendum
24before the levy date for the first levy year at which a
25majority of voters voting on the issue approves adoption of a

 

 

HB0420- 37 -LRB100 04243 HLH 14249 b

1higher extension limitation. Referenda shall be conducted at a
2regularly scheduled election in accordance with the Election
3Code, but may not be conducted at a general primary or a
4consolidated primary election. The question shall be presented
5in substantially the following manner for all elections held
6after March 21, 2006:
7        Shall the extension limitation under the Property Tax
8    Extension Limitation Law for (insert the legal name,
9    number, if any, and county or counties of the taxing
10    district and geographic or other common name by which a
11    school or community college district is known and referred
12    to), Illinois, be increased from (applicable extension
13    limitation) the lesser of 5% or the percentage increase in
14    the Consumer Price Index over the prior levy year to
15    (insert the percentage of the proposed increase)% per year
16    for (insert each levy year for which the increased
17    extension limitation will apply)?
18The votes must be recorded as "Yes" or "No".
19If a majority of voters voting on the issue approves the
20adoption of the increase, the increase shall be applicable for
21each levy year specified.
22    The ballot for any question submitted pursuant to this
23Section shall have printed thereon, but not as a part of the
24question submitted, only the following supplemental
25information (which shall be supplied to the election authority
26by the taxing district) in substantially the following form:

 

 

HB0420- 38 -LRB100 04243 HLH 14249 b

1        (1) For the (insert the first levy year for which the
2    increased extension limitation will be applicable) levy
3    year the approximate amount of the additional tax
4    extendable against property containing a single family
5    residence and having a fair market value at the time of the
6    referendum of $100,000 is estimated to be $....
7        (2) Based upon an average annual percentage increase
8    (or decrease) in the market value of such property of ...%
9    (insert percentage equal to the average annual percentage
10    increase or decrease for the prior 3 levy years, at the
11    time the submission of the question is initiated by the
12    taxing district, in the amount of (A) the equalized
13    assessed value of the taxable property in the taxing
14    district less (B) the new property included in the
15    equalized assessed value), the approximate amount of the
16    additional tax extendable against such property for the ...
17    levy year is estimated to be $... and for the ... levy year
18    is estimated to be $....
19        (3) A statement that failure to approve the referendum
20    will limit the taxing district's extension and could have
21    the effect of limiting the property tax liability of some
22    taxpayers.
23    Paragraph (2) shall be included only if the increased
24extension limitation will be applicable for more than one year
25and shall list each levy year for which the increased extension
26limitation will be applicable. The additional tax shown for

 

 

HB0420- 39 -LRB100 04243 HLH 14249 b

1each levy year shall be the approximate dollar amount of the
2increase over the amount of the most recently completed
3extension at the time the submission of the question is
4initiated by the taxing district. The approximate amount of the
5additional tax extendable shown in paragraphs (1) and (2) shall
6be calculated by multiplying $100,000 (the fair market value of
7the property without regard to any property tax exemptions) by
8(i) the percentage level of assessment prescribed for that
9property by statute, or by ordinance of the county board in
10counties that classify property for purposes of taxation in
11accordance with Section 4 of Article IX of the Illinois
12Constitution; (ii) the most recent final equalization factor
13certified to the county clerk by the Department of Revenue at
14the time the taxing district initiates the submission of the
15proposition to the electors; (iii) the last known aggregate
16extension base of the taxing district at the time the
17submission of the question is initiated by the taxing district;
18and (iv) the difference between the percentage increase
19proposed in the question and either (i) the lesser of 5% or the
20percentage increase in the Consumer Price Index for the prior
21levy year (or an estimate of the percentage increase for the
22prior levy year if the increase is unavailable at the time the
23submission of the question is initiated by the taxing district)
24or (ii) 0%, as applicable; and dividing the result by the last
25known equalized assessed value of the taxing district at the
26time the submission of the question is initiated by the taxing

 

 

HB0420- 40 -LRB100 04243 HLH 14249 b

1district. This amendatory Act of the 97th General Assembly is
2intended to clarify the existing requirements of this Section,
3and shall not be construed to validate any prior non-compliant
4referendum language. Any notice required to be published in
5connection with the submission of the question shall also
6contain this supplemental information and shall not contain any
7other supplemental information. Any error, miscalculation, or
8inaccuracy in computing any amount set forth on the ballot or
9in the notice that is not deliberate shall not invalidate or
10affect the validity of any proposition approved. Notice of the
11referendum shall be published and posted as otherwise required
12by law, and the submission of the question shall be initiated
13as provided by law.
14(Source: P.A. 97-1087, eff. 8-24-12.)
 
15    Section 95. No acceleration or delay. Where this Act makes
16changes in a statute that is represented in this Act by text
17that is not yet or no longer in effect (for example, a Section
18represented by multiple versions), the use of that text does
19not accelerate or delay the taking effect of (i) the changes
20made by this Act or (ii) provisions derived from any other
21Public Act.
 
22    Section 99. Effective date. This Act takes effect upon
23becoming law.