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Public Act 098-0863
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| SB0347 Enrolled | LRB098 04578 HLH 34606 b |
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AN ACT concerning revenue.
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Be it enacted by the People of the State of Illinois, |
represented in the General Assembly:
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Section 5. The Property Tax Code is amended by changing |
Section 18-140 as follows:
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(35 ILCS 200/18-140)
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Sec. 18-140.
Extension upon equalized assessment of |
current levy
year. All taxes shall be extended by each county |
clerk upon the valuation
produced by the equalization and |
assessment of property by the Department for
the levy year. In |
the computation of rates, a fraction of a mill shall be
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extended as the next higher mill. Rates may be calculated |
beyond 3 decimal points to allow the extension to be as close |
to the levy requested as possible. Each installment of taxes |
shall be extended
in a separate column. Installments shall be |
equal and as to each installment a
fraction of a cent shall be |
extended as one cent.
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(Source: P.A. 87-17; 88-455.)
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Section 99. Effective date. This Act takes effect upon |
becoming law. |