Illinois General Assembly - Full Text of SB0975
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Full Text of SB0975  100th General Assembly

SB0975 100TH GENERAL ASSEMBLY


 


 
100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018
SB0975

 

Introduced 2/7/2017, by Sen. Laura M. Murphy

 

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%".


LRB100 09595 HLH 19763 b

 

 

A BILL FOR

 

SB0975LRB100 09595 HLH 19763 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.)