93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004
HB6688


 
Introduced 02/09/04, by Joe Dunn
 
SYNOPSIS AS INTRODUCED:
 		













65 ILCS 5/8d new










    Amends the Illinois Municipal Code. Provides that, notwithstanding any provision of the Tax Increment Allocation Redevelopment Act to the contrary, when a school district passes an ordinance to increase property taxes, the revenue generated by the percentage rate increase, even in a redevelopment project area, must be paid to the school district. Effective immediately.
















LRB093 19055 MKM 44790 b

















FISCAL NOTE ACT MAY APPLY


HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY
















 


 


A BILL FOR









 











HB6688

LRB093 19055 MKM 44790 b






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    AN ACT concerning taxes.

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


 
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    Section 5. The Illinois Municipal Code is amended  by adding 
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Section 8d as follows:
 
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    (65 ILCS 5/8d  new)
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    Sec. 8d. School district rate increase. Notwithstanding 
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any provision of this Division to the contrary, when a school 
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district passes an ordinance to increase property taxes, the 
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revenue generated by the percentage rate increase, even in a 
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redevelopment project area, must be paid to the school 
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district.
 

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    Section 99. Effective date. This Act takes effect upon 
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becoming law.