99TH GENERAL ASSEMBLY
State of Illinois
2015 and 2016
HB4237

 

Introduced , by Rep. John M. Cabello

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 200/18-184.15 new

    Amends the Property Tax Code. Provides that, beginning in taxable year 2015 and concluding in taxable year 2020, the county clerk shall reduce the property taxes levied by each taxing district to a level that is not greater than that taxing district's levy in the previous taxable year. Provides that the county clerk may increase or decrease the portion of a total tax levy paid by any individual taxpayer, provided that the increase or decrease in the individual taxpayer's tax bill is based solely on a change in the equalized assessed value of the taxpayer's property. Effective immediately.


LRB099 12928 HLH 36785 b

FISCAL NOTE ACT MAY APPLY
HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB4237LRB099 12928 HLH 36785 b

1    AN ACT concerning revenue.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Property Tax Code is amended by adding
5Section 18-184.15 as follows:
 
6    (35 ILCS 200/18-184.15 new)
7    Sec. 18-184.15. Five-year reduction. Notwithstanding any
8other provision of law, beginning in taxable year 2015 and
9concluding in taxable year 2020, the county clerk shall reduce
10the property taxes levied by each taxing district to a level
11that is not greater than that taxing district's levy in the
12previous taxable year. Nothing in this amendatory Act of the
1399th General Assembly shall prevent a county clerk from
14increasing or decreasing the portion of a total tax levy paid
15by any individual taxpayer, provided that the increase or
16decrease in the individual taxpayer's tax bill is based solely
17on a change in the equalized assessed value of the taxpayer's
18property.
 
19    Section 99. Effective date. This Act takes effect upon
20becoming law.