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90_HB3089
35 ILCS 200/18-212
Amends the Property Tax Extension Limitation Law in the
Property Tax Code. Makes a technical change in the Section
concerning referendum on the debt service extension base.
LRB9010858KDks
LRB9010858KDks
1 AN ACT to amend the Property Tax Code by changing Section
2 18-212.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Property Tax Code is amended by changing
6 Section 18-212 as follows:
7 (35 ILCS 200/18-212)
8 Sec. 18-212. Referendum on debt service extension base. A
9 taxing district may establish or increase its debt service
10 extension base if (i) that taxing district holds a referendum
11 before the date on which the levy must be filed with the
12 county clerk of the county or counties where in which the
13 taxing district is situated and (ii) a majority of voters
14 voting on the issue approves the establishment of or increase
15 in the debt service extension base. Referenda under this
16 Section shall be conducted at a regularly scheduled election
17 in accordance with the Election Code. The governing body of
18 the taxing district shall certify the question to the proper
19 election authorities who shall submit the question to the
20 electors of the taxing district in substantially the
21 following form:
22 "Shall the debt service extension base under the Property
23 Tax Extension Limitation Law for ... (taxing district
24 name) ... for payment of principal and interest on
25 limited bonds be .... ((established at $ ....) . (or)
26 (increased from $ .... to $ ....)) .. for the ..... levy
27 year and all subsequent levy years?"
28 Votes on the question shall be recorded as "Yes" or "No".
29 If a majority of voters voting on the issue approves the
30 establishment of or increase in the debt service extension
31 base, the establishment of or increase in the debt service
-2- LRB9010858KDks
1 extension base shall be applicable for the levy years
2 specified.
3 (Source: P.A. 89-385, eff. 8-18-95.)
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