Illinois General Assembly - Full Text of HB0378
Illinois General Assembly

Previous General Assemblies

Full Text of HB0378  98th General Assembly

HB0378 98TH GENERAL ASSEMBLY


 


 
98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014
HB0378

 

Introduced 1/25/2013, by Rep. Michael J. Madigan

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 200/1-55

    Amends the Property Tax Code. Makes a technical change in a Section concerning the definition of "33 1/3%".


LRB098 03201 HLH 33216 b

 

 

A BILL FOR

 

HB0378LRB098 03201 HLH 33216 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 changing
5Section 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
8property, as determined by the Department's sales ratio studies
9for the 3 most recent years preceding the assessment year,
10adjusted to take into account any changes in assessment levels
11implemented since the data for the studies were collected.
12(Source: P.A. 86-1481; 87-877; 88-455.)