HB4273 98TH GENERAL ASSEMBLY

LRB098 14672 HLH 50344 b

98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014
HB4273

Introduced , by Rep. Jack D. Franks

SYNOPSIS AS INTRODUCED:

35 ILCS 200/18-50.2 new

Amends the Property Tax Code. Provides that a non-binding advisory referendum concerning a proposed extension limitation shall be placed on the ballot at the first general election to occur after the effective date of the amendatory Act. Effective immediately.

FISCAL NOTE ACT MAY APPLY

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 Section 18-50.2 as follows:

(35 ILCS 200/18-50.2 new)

Sec. 18-50.2. Advisory referendum. The following non-binding advisory referendum shall be placed on the ballot at the first general election to occur after the effective date of this amendatory Act of the 98th General Assembly:

"Would you support a change in the Property Tax Code to provide that: if the value of all taxable property in a taxing district in a given tax year is lower than the value of all taxable property in the taxing district in the previous tax year, then the taxing district may not increase its levy over the previous levy year unless that increase is approved by the voters of the taxing district at a referendum?"

Votes shall be recorded as "Yes" or "No".

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