Rep. Emanuel "Chris" Welch
Filed: 5/20/2024
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| 1 | AMENDMENT TO SENATE BILL 2878 | ||||||
| 2 | AMENDMENT NO. ______. Amend Senate Bill 2878 by replacing | ||||||
| 3 | everything after the enacting clause with the following: | ||||||
| 4 | "Section 5. The Property Tax Code is amended by changing | ||||||
| 5 | Section 1-55 as follows: | ||||||
| 6 | (35 ILCS 200/1-55) | ||||||
| 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 | ||||||
| 9 | studies for the 3 most recent years preceding the assessment | ||||||
| 10 | year, adjusted to take into account any changes in assessment | ||||||
| 11 | levels implemented since the data for the studies were | ||||||
| 12 | collected. | ||||||
| 13 | (Source: P.A. 86-1481; 87-877; 88-455.)". | ||||||