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95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
SB2642
Introduced 2/15/2008, by Sen. Don Harmon SYNOPSIS AS INTRODUCED:
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Amends the Truth in Taxation Law in the Property Tax Code. Makes a technical change in a provision concerning the short title of that Law.
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A BILL FOR
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SB2642 |
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LRB095 17550 BDD 43624 b |
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| AN ACT concerning revenue.
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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 Property Tax Code is amended by changing |
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| Section 18-55 as follows:
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| (35 ILCS 200/18-55)
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| Sec. 18-55. Short title and definitions. This Division 2 |
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| may be cited
as the the Truth in Taxation Law. As used in this |
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| Division 2:
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| (a) "Taxing district" has the meaning specified in Section |
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| 1-150 and
includes home rule units, but from January 1, 2000 |
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| through December 31,
2002 does not include taxing districts |
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| that have territory in Cook County.
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| (b) "Aggregate levy" means the annual corporate levy of the |
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| taxing
district and those special purpose levies which are made |
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| annually (other
than debt service levies and levies made for |
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| the purpose of paying amounts
due under public building |
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| commission leases).
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| (c) "Special purpose levies" include, but are not limited |
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| to, levies
made on an annual basis for contributions to pension |
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| plans, unemployment
and worker's compensation, or |
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| self-insurance.
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| (d) "Debt service" means levies made by any taxing district |