Rep. Michael J. Zalewski
Filed: 5/26/2019
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1 | AMENDMENT TO SENATE BILL 690
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2 | AMENDMENT NO. ______. Amend Senate Bill 690 by replacing | ||||||
3 | everything after the enacting clause with the following:
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4 | "Section 5. The Property Tax Code is amended by changing | ||||||
5 | Section 1-55 as follows:
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6 | (35 ILCS 200/1-55)
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7 | Sec. 1-55. 33 1/3%. One-third of the
the fair cash value of | ||||||
8 | property, as
determined by the Department's sales ratio studies | ||||||
9 | for the 3 most recent years
preceding the assessment year, | ||||||
10 | adjusted to take into account any changes in
assessment levels | ||||||
11 | implemented since the data for the studies were collected. | ||||||
12 | (Source: P.A. 86-1481; 87-877; 88-455.)".
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