Date	Chamber	Action
1/11/2011	House	Session Sine Die

Statutes Amended In Order of Appearance

35 ILCS 200/2-85 new

35 ILCS 200/3-70 new

35 ILCS 200/8-13 new

Synopsis As Introduced
Amends the Property Tax Code. Provides that township assessors and county assessors must monitor the average fair-market value of residential property within their jurisdiction. Provides that, if the average fair-market value of residential property within the jurisdiction of the assessor falls by more than 7% in any taxable year, the assessor shall notify the Illinois Department of Revenue. Provides that, whenever the Department of Revenue is notified by a county or township assessor that the average fair-market value of residential property within the jurisdiction of a township or county assessor has fallen by more than 7%, it shall immediately impose an additional special multiplier in the geographic area specified by the assessor so that the equalized assessed value of all property in the geographic area reflects the decline in fair-market value.

Actions 

Date	Chamber	Action
5/6/2009	House	Filed with the Clerk by Rep. Jack D. Franks
5/6/2009	House	First Reading
5/6/2009	House	Referred to Rules Committee
1/27/2010	House	Assigned to Revenue & Finance Committee
3/15/2010	House	Rule 19(a) / Re-referred to Rules Committee
1/11/2011	House	Session Sine Die

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