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Sen. Dan Kotowski
Filed: 11/30/2010
| | 09600HB0354sam001 | | LRB096 05680 HLH 44258 a |
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| 1 | | AMENDMENT TO HOUSE BILL 354
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| 2 | | AMENDMENT NO. ______. Amend House Bill 354 by replacing |
| 3 | | everything after the enacting clause with the following:
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| 4 | | "Section 5. The Property Tax Code is amended by changing |
| 5 | | Section 1-55 as follows:
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| 6 | | (35 ILCS 200/1-55)
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| 7 | | Sec. 1-55. 33 1/3%. One-third of the
the fair cash value of |
| 8 | | property, as
determined by the Department's sales ratio studies |
| 9 | | for the 3 most recent years
preceding the assessment year, |
| 10 | | adjusted to take into account any changes in
assessment levels |
| 11 | | implemented since the data for the studies were collected. |
| 12 | | (Source: P.A. 86-1481; 87-877; 88-455.)".
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