HB1263 103RD GENERAL ASSEMBLY

LRB103 05201 HLH 50217 b

103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
HB1263

Introduced 1/31/2023, by Rep. Jeff Keicher

SYNOPSIS AS INTRODUCED:

35 ILCS 200/Art. 18 Div. 2.2 heading new
35 ILCS 200/18-104 new

Amends the Property Tax Code. Provides that each taxing district shall publish specified information concerning the district's property tax rate and extension. Effective immediately.

A BILL FOR

AN ACT concerning revenue.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Property Tax Code is amended by adding Division 2.2 to Article 18 as follows:

(35 ILCS 200/Art. 18 Div. 2.2 heading new)

Division 2.2. Required disclosures

(35 ILCS 200/18-104 new)

Sec. 18-104. Required disclosures.

(a) As used in this Section:

"Collection year" means the calendar year in which property taxes levied for the previous calendar year are collected.

"Levy year" means the taxable year for which property taxes are levied that are collected in the collection year.

"Taxing district" has the meaning specified in Section 1-150 and includes home rule units.

(b) By February 1 of each collection year, beginning with the 2024 collection year, each taxing district shall publish the following information on the taxing district's publicly accessible website, if the taxing district uses such a website, and in a newspaper of general circulation published in the taxing district:

(1) the taxing district's property tax rate for the levy year;

(2) the taxing district's property tax rate for the immediately preceding levy year;

(3) the total dollar amount of the taxing district's extension for the levy year;

(4) the total dollar amount of the taxing district's extension for the immediately preceding levy year;

(5) the property tax liability for the levy year for each $100,000 of fair market value.

(c) A home rule unit may not regulate the publication of property tax information in a manner that is inconsistent with the regulation by the State of the publication of property tax information under this Section. This Section is a limitation under subsection (i) of Section 6 of Article VII of the Illinois Constitution on the concurrent exercise by home rule units of powers and functions exercised by the State.

Section 99. Effective date. This Act takes effect upon becoming law.