Bill Status of HB 4426   98th General Assembly

Short Description:  PROP TX-FALLING EAV

House Sponsors
Rep. Ron Sandack-Sandra M. Pihos-Darlene J. Senger-Thomas Morrison-David McSweeney, Patricia R. Bellock, Barbara Wheeler, Dennis M. Reboletti, Kay Hatcher, Michael P. McAuliffe and Ed Sullivan, Jr.

Last Action  View All Actions

DateChamber Action
  12/3/2014HouseSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 200/18-185
35 ILCS 200/18-205

Synopsis As Introduced
Amends the Property Tax Extension Limitation Law in the Property Tax Code. Provides that if (i) the total equalized assessed value of all taxable property in the taxing district for the current levy year is less than the total equalized assessed value of all taxable property in the taxing district for the previous levy year, or (ii) the median equalized assessed value of all taxable property in the taxing district for the current levy year and the 2 levy years immediately preceding the current levy year is less than the median equalized assessed value of all taxable property in the taxing district for the 3 levy years immediately preceding that 3-year period, then the extension limitation is (a) 0% or (b) the rate of increase approved by voters (instead of the lesser of 5% or the percentage increase in the Consumer Price Index during the 12-month calendar year preceding the levy year or the rate of increase approved by the voters). Effective immediately.

Actions 
DateChamber Action
  1/29/2014HouseFiled with the Clerk by Rep. Ron Sandack
  1/29/2014HouseFirst Reading
  1/29/2014HouseReferred to Rules Committee
  2/27/2014HouseAssigned to Revenue & Finance Committee
  2/27/2014HouseTo Property Tax Subcommittee
  3/3/2014HouseAdded Chief Co-Sponsor Rep. Sandra M. Pihos
  3/28/2014HouseRule 19(a) / Re-referred to Rules Committee
  5/7/2014HouseAdded Co-Sponsor Rep. Patricia R. Bellock
  5/7/2014HouseAdded Co-Sponsor Rep. Barbara Wheeler
  5/7/2014HouseAdded Co-Sponsor Rep. Dennis M. Reboletti
  5/7/2014HouseAdded Co-Sponsor Rep. Kay Hatcher
  5/7/2014HouseAdded Chief Co-Sponsor Rep. Darlene J. Senger
  5/7/2014HouseAdded Chief Co-Sponsor Rep. Thomas Morrison
  5/7/2014HouseAdded Chief Co-Sponsor Rep. David McSweeney
  5/8/2014HouseAdded Co-Sponsor Rep. Michael P. McAuliffe
  5/8/2014HouseAdded Co-Sponsor Rep. Ed Sullivan, Jr.
  12/3/2014HouseSession Sine Die

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