HB5549 104TH GENERAL ASSEMBLY

LRB104 19622 HLH 33071 b

104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026
HB5549

Introduced 2/13/2026, by Rep. Bradley Fritts

SYNOPSIS AS INTRODUCED:

35 ILCS 200/18-121 new
35 ILCS 200/18-205a new

Amends the Property Tax Code. Provides that whether or not a county is subject to the Property Tax Extension Limitation Law, if that county has enjoyed, and continues to enjoy, an aggregate extension increase of not less than 4.5% per year, and this aggregate extension increase has been enjoyed and is enjoyed cumulatively and in compound fashion for a period of not less than 3 years, then in the fourth and in all succeeding years the county shall be subject to an aggregate extension limitation increase that shall not exceed 3% per year. Provides that an exception to this countywide aggregate extension increase of 3% per year shall be enjoyed by a county that successfully seeks approval by referendum from release from this cap on countywide aggregate extensions.

A BILL FOR

AN ACT concerning revenue.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Property Tax Code is amended by adding Sections 18-121 and 18-205a as follows:

(35 ILCS 200/18-121 new)

Sec. 18-121. Countywide extension cap. Notwithstanding any other law, if a county that is not subject to the Property Tax Extension Limitation Law has enjoyed, and continues to enjoy, an aggregate extension increase of not less than 4.5% per year, and this aggregate extension increase has been enjoyed and is enjoyed cumulatively and in compound fashion for a period of not less than 3 years, then in the fourth and in all succeeding years the county shall be subject to an aggregate extension limitation increase that shall not exceed 3% per year. The enjoyment by a county, not subject to the Property Tax Extension Limitation Law, of an aggregate extension increase in an amount of, or greater than, 4.5% per year for a period of 3 or more successive years shall constitute a trigger for mandatory implementation of this Section.

An exception to this countywide aggregate extension increase of 3% per year shall be enjoyed by a county that successfully seeks approval by referendum from release from this cap on countywide aggregate extensions. The referendum seeking relief exemption from the provisions of this Section 18-121 shall be carried out under the provisions of Section 18-125 of this Code.

For purposes of this Section, "aggregate extension" shall be as defined in Section 18-185 of this Code.

(35 ILCS 200/18-205a new)

Sec. 18-205a. Chronic enjoyment of Property Tax Extension Limitation Law maximum extensions; tightened extension cap. Notwithstanding any other law, if a county subject to the Property Tax Extension Limitation Law has enjoyed, and continues to enjoy, an extension limitation increase of not less than 4.5% per year, and this extension limitation increase has been enjoyed and is enjoyed cumulatively and in compound fashion for a period of not less than 3 years, then in the fourth and in all succeeding years the allowable tax extension limitation increase to be enjoyed by the county shall be reset to 3% per year. The enjoyment by a county, subject to the Property Tax Extension Limitation Law, of an extension limitation increase in an amount of, or greater than, 4.5% per year for a period of 3 or more successive years shall constitute a trigger for mandatory implementation of this Section.

An exception to this alternative tax extension limitation increase of 3% per year shall be enjoyed by a county that successfully seeks approval by referendum from release from this alternative cap. The referendum seeking relief exemption from the provisions of this Section 18-205a shall be carried out under the provisions of Section 18-205 of this Code.