Illinois General Assembly - Full Text of HB5059
Illinois General Assembly

Previous General Assemblies

Full Text of HB5059  98th General Assembly

HB5059 98TH GENERAL ASSEMBLY


 


 
98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014
HB5059

 

Introduced , by Rep. Jim Durkin

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 200/1-55

    Amends the Property Tax Code. Makes a technical change in a Section concerning the definition of "33 1/3%".


LRB098 18497 HLH 53634 b

 

 

A BILL FOR

 

HB5059LRB098 18497 HLH 53634 b

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
5Section 1-55 as follows:
 
6    (35 ILCS 200/1-55)
7    Sec. 1-55. 33 1/3%. One-third of the the fair cash value of
8property, as determined by the Department's sales ratio studies
9for the 3 most recent years preceding the assessment year,
10adjusted to take into account any changes in assessment levels
11implemented since the data for the studies were collected.
12(Source: P.A. 86-1481; 87-877; 88-455.)