Full Text of SB1682 94th General Assembly
SB1682ham001 94TH GENERAL ASSEMBLY
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Revenue Committee
Filed: 3/16/2006
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| AMENDMENT TO SENATE BILL 1682
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| AMENDMENT NO. ______. Amend Senate Bill 1682 by replacing | 3 |
| everything after the enacting clause with the following: | 4 |
| "Section 5. The Property Tax Code is amended by changing | 5 |
| Sections 18-125, 18-185, 18-190, 18-205, and 18-230 as follows:
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| (35 ILCS 200/18-125)
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| Sec. 18-125. Rate limit referenda. Referenda initiated | 8 |
| under Section 18-120
shall be subject to the provisions and | 9 |
| limitations of the general election law.
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| The question of adopting a maximum tax rate other than that | 11 |
| applicable shall be
in substantially the following form for all | 12 |
| elections held after March 21, 2006 :
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| Shall the maximum tax rate for . . . purposes of . . . | 14 |
| (insert legal name, number, if any, and county or counties | 15 |
| of taxing district), Illinois, be established at . . . % of | 16 |
| the equalized assessed value of the taxable property | 17 |
| therein instead of . . . %, the maximum rate otherwise | 18 |
| applicable to the next taxes to be extended?
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| The votes must be recorded as "Yes" or "No".
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| -------------------------------------------------------------
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| Shall the maximum tax rate for
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| the..... fund of.........
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| (identify taxing district) be YES
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| established at........ percent
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| on the equalized assessed ---------------------
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| value instead of........... per
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| cent, the maximum rate otherwise NO
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| applicable to the next taxes to
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| be extended?
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| -------------------------------------------------------------
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| The ballot shall have printed thereon, but not as a part of | 8 |
| the
proposition submitted, (i) a statement of the purpose or | 9 |
| reason for the proposed change in the tax rate, (ii) an | 10 |
| estimate of the approximate amount extendable
under the | 11 |
| proposed rate and of the approximate amount extendable under
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| the current rate applicable to the next taxes extended, such | 13 |
| amounts being
computed upon the last known equalized assessed | 14 |
| value , and (iii) the approximate amount of the tax extendable
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| against property containing a single family residence and
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| having a fair market value of $100,000 at the current maximum
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| rate and at the proposed rate. The approximate amount of the | 18 |
| tax extendable against property containing a single family | 19 |
| residence shall be calculated (i) without regard to any | 20 |
| property tax exemptions and (ii) based upon the percentage | 21 |
| level of assessment prescribed for such property by statute or | 22 |
| by ordinance of the county board in counties which classify | 23 |
| property for purposes of taxation in accordance with Section 4 | 24 |
| of Article IX of the Constitution . Any error,
miscalculation or | 25 |
| inaccuracy in computing such amounts that is not deliberate
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| shall not invalidate or
affect the validity of any maximum tax | 27 |
| rate so adopted.
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| If a majority of all ballots cast on the proposition are in | 29 |
| favor of the
proposition, the maximum tax rate so established | 30 |
| shall become effective with
the levy next following the | 31 |
| referendum. It is the duty of the county clerk to
reduce, if | 32 |
| necessary, the amount of any taxes levied thereafter. Nothing | 33 |
| in
this Section shall be construed as precluding the extension | 34 |
| of taxes at rates
less than that authorized by the referendum.
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| (Source: P.A. 86-1253; 88-455 .)
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| (35 ILCS 200/18-185)
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| Sec. 18-185. Short title; definitions. This Division 5 may | 4 |
| be cited as the
Property Tax Extension Limitation Law. As used | 5 |
| in this Division 5:
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| "Consumer Price Index" means the Consumer Price Index for | 7 |
| All Urban
Consumers for all items published by the United | 8 |
| States Department of Labor.
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| "Extension limitation" means (a) the lesser of 5% or the | 10 |
| percentage increase
in the Consumer Price Index during the | 11 |
| 12-month calendar year preceding the
levy year or (b) the rate | 12 |
| of increase approved by voters under Section 18-205.
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| "Affected county" means a county of 3,000,000 or more | 14 |
| inhabitants or a
county contiguous to a county of 3,000,000 or | 15 |
| more inhabitants.
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| "Taxing district" has the same meaning provided in Section | 17 |
| 1-150, except as
otherwise provided in this Section. For the | 18 |
| 1991 through 1994 levy years only,
"taxing district" includes | 19 |
| only each non-home rule taxing district having the
majority of | 20 |
| its
1990 equalized assessed value within any county or counties | 21 |
| contiguous to a
county with 3,000,000 or more inhabitants. | 22 |
| Beginning with the 1995 levy
year, "taxing district" includes | 23 |
| only each non-home rule taxing district
subject to this Law | 24 |
| before the 1995 levy year and each non-home rule
taxing | 25 |
| district not subject to this Law before the 1995 levy year | 26 |
| having the
majority of its 1994 equalized assessed value in an | 27 |
| affected county or
counties. Beginning with the levy year in
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| which this Law becomes applicable to a taxing district as
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| provided in Section 18-213, "taxing district" also includes | 30 |
| those taxing
districts made subject to this Law as provided in | 31 |
| Section 18-213.
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| "Aggregate extension" for taxing districts to which this | 33 |
| Law applied before
the 1995 levy year means the annual |
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| corporate extension for the taxing
district and those special | 2 |
| purpose extensions that are made annually for
the taxing | 3 |
| district, excluding special purpose extensions: (a) made for | 4 |
| the
taxing district to pay interest or principal on general | 5 |
| obligation bonds
that were approved by referendum; (b) made for | 6 |
| any taxing district to pay
interest or principal on general | 7 |
| obligation bonds issued before October 1,
1991; (c) made for | 8 |
| any taxing district to pay interest or principal on bonds
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| issued to refund or continue to refund those bonds issued | 10 |
| before October 1,
1991; (d)
made for any taxing district to pay | 11 |
| interest or principal on bonds
issued to refund or continue to | 12 |
| refund bonds issued after October 1, 1991 that
were approved by | 13 |
| referendum; (e)
made for any taxing district to pay interest
or | 14 |
| principal on revenue bonds issued before October 1, 1991 for | 15 |
| payment of
which a property tax levy or the full faith and | 16 |
| credit of the unit of local
government is pledged; however, a | 17 |
| tax for the payment of interest or principal
on those bonds | 18 |
| shall be made only after the governing body of the unit of | 19 |
| local
government finds that all other sources for payment are | 20 |
| insufficient to make
those payments; (f) made for payments | 21 |
| under a building commission lease when
the lease payments are | 22 |
| for the retirement of bonds issued by the commission
before | 23 |
| October 1, 1991, to pay for the building project; (g) made for | 24 |
| payments
due under installment contracts entered into before | 25 |
| October 1, 1991;
(h) made for payments of principal and | 26 |
| interest on bonds issued under the
Metropolitan Water | 27 |
| Reclamation District Act to finance construction projects
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| initiated before October 1, 1991; (i) made for payments of | 29 |
| principal and
interest on limited bonds, as defined in Section | 30 |
| 3 of the Local Government Debt
Reform Act, in an amount not to | 31 |
| exceed the debt service extension base less
the amount in items | 32 |
| (b), (c), (e), and (h) of this definition for
non-referendum | 33 |
| obligations, except obligations initially issued pursuant to
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| referendum; (j) made for payments of principal and interest on |
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| bonds
issued under Section 15 of the Local Government Debt | 2 |
| Reform Act; (k)
made
by a school district that participates in | 3 |
| the Special Education District of
Lake County, created by | 4 |
| special education joint agreement under Section
10-22.31 of the | 5 |
| School Code, for payment of the school district's share of the
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| amounts required to be contributed by the Special Education | 7 |
| District of Lake
County to the Illinois Municipal Retirement | 8 |
| Fund under Article 7 of the
Illinois Pension Code; the amount | 9 |
| of any extension under this item (k) shall be
certified by the | 10 |
| school district to the county clerk; (l) made to fund
expenses | 11 |
| of providing joint recreational programs for the handicapped | 12 |
| under
Section 5-8 of
the
Park District Code or Section 11-95-14 | 13 |
| of the Illinois Municipal Code; (m) made for temporary | 14 |
| relocation loan repayment purposes pursuant to Sections 2-3.77 | 15 |
| and 17-2.2d of the School Code ; , and (n) made for payment of | 16 |
| principal and interest on any bonds issued under the authority | 17 |
| of Section 17-2.2d of the School Code; and (o)
(m) made for | 18 |
| contributions to a firefighter's pension fund created under | 19 |
| Article 4 of the Illinois Pension Code, to the extent of the | 20 |
| amount certified under item (5) of Section 4-134 of the | 21 |
| Illinois Pension Code.
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| "Aggregate extension" for the taxing districts to which | 23 |
| this Law did not
apply before the 1995 levy year (except taxing | 24 |
| districts subject to this Law
in
accordance with Section | 25 |
| 18-213) means the annual corporate extension for the
taxing | 26 |
| district and those special purpose extensions that are made | 27 |
| annually for
the taxing district, excluding special purpose | 28 |
| extensions: (a) made for the
taxing district to pay interest or | 29 |
| principal on general obligation bonds that
were approved by | 30 |
| referendum; (b) made for any taxing district to pay interest
or | 31 |
| principal on general obligation bonds issued before March 1, | 32 |
| 1995; (c) made
for any taxing district to pay interest or | 33 |
| principal on bonds issued to refund
or continue to refund those | 34 |
| bonds issued before March 1, 1995; (d) made for any
taxing |
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| district to pay interest or principal on bonds issued to refund | 2 |
| or
continue to refund bonds issued after March 1, 1995 that | 3 |
| were approved by
referendum; (e) made for any taxing district | 4 |
| to pay interest or principal on
revenue bonds issued before | 5 |
| March 1, 1995 for payment of which a property tax
levy or the | 6 |
| full faith and credit of the unit of local government is | 7 |
| pledged;
however, a tax for the payment of interest or | 8 |
| principal on those bonds shall be
made only after the governing | 9 |
| body of the unit of local government finds that
all other | 10 |
| sources for payment are insufficient to make those payments; | 11 |
| (f) made
for payments under a building commission lease when | 12 |
| the lease payments are for
the retirement of bonds issued by | 13 |
| the commission before March 1, 1995 to
pay for the building | 14 |
| project; (g) made for payments due under installment
contracts | 15 |
| entered into before March 1, 1995; (h) made for payments of
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| principal and interest on bonds issued under the Metropolitan | 17 |
| Water Reclamation
District Act to finance construction | 18 |
| projects initiated before October 1,
1991; (h-4) made for | 19 |
| stormwater management purposes by the Metropolitan Water | 20 |
| Reclamation District of Greater Chicago under Section 12 of the | 21 |
| Metropolitan Water Reclamation District Act; (i) made for | 22 |
| payments of principal and interest on limited bonds,
as defined | 23 |
| in Section 3 of the Local Government Debt Reform Act, in an | 24 |
| amount
not to exceed the debt service extension base less the | 25 |
| amount in items (b),
(c), and (e) of this definition for | 26 |
| non-referendum obligations, except
obligations initially | 27 |
| issued pursuant to referendum and bonds described in
subsection | 28 |
| (h) of this definition; (j) made for payments of
principal and | 29 |
| interest on bonds issued under Section 15 of the Local | 30 |
| Government
Debt Reform Act; (k) made for payments of principal | 31 |
| and interest on bonds
authorized by Public Act 88-503 and | 32 |
| issued under Section 20a of the Chicago
Park District Act for | 33 |
| aquarium or
museum projects; (l) made for payments of principal | 34 |
| and interest on
bonds
authorized by Public Act 87-1191 or |
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| 93-601 and (i) issued pursuant to Section 21.2 of the Cook | 2 |
| County Forest
Preserve District Act, (ii) issued under Section | 3 |
| 42 of the Cook County
Forest Preserve District Act for | 4 |
| zoological park projects, or (iii) issued
under Section 44.1 of | 5 |
| the Cook County Forest Preserve District Act for
botanical | 6 |
| gardens projects; (m) made
pursuant
to Section 34-53.5 of the | 7 |
| School Code, whether levied annually or not;
(n) made to fund | 8 |
| expenses of providing joint recreational programs for the
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| handicapped under Section 5-8 of the Park
District Code or | 10 |
| Section 11-95-14 of the Illinois Municipal Code;
(o) made by | 11 |
| the
Chicago Park
District for recreational programs for the | 12 |
| handicapped under subsection (c) of
Section
7.06 of the Chicago | 13 |
| Park District Act; and (p) made for contributions to a | 14 |
| firefighter's pension fund created under Article 4 of the | 15 |
| Illinois Pension Code, to the extent of the amount certified | 16 |
| under item (5) of Section 4-134 of the Illinois Pension Code.
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| "Aggregate extension" for all taxing districts to which | 18 |
| this Law applies in
accordance with Section 18-213, except for | 19 |
| those taxing districts subject to
paragraph (2) of subsection | 20 |
| (e) of Section 18-213, means the annual corporate
extension for | 21 |
| the
taxing district and those special purpose extensions that | 22 |
| are made annually for
the taxing district, excluding special | 23 |
| purpose extensions: (a) made for the
taxing district to pay | 24 |
| interest or principal on general obligation bonds that
were | 25 |
| approved by referendum; (b) made for any taxing district to pay | 26 |
| interest
or principal on general obligation bonds issued before | 27 |
| the date on which the
referendum making this
Law applicable to | 28 |
| the taxing district is held; (c) made
for any taxing district | 29 |
| to pay interest or principal on bonds issued to refund
or | 30 |
| continue to refund those bonds issued before the date on which | 31 |
| the
referendum making this Law
applicable to the taxing | 32 |
| district is held;
(d) made for any
taxing district to pay | 33 |
| interest or principal on bonds issued to refund or
continue to | 34 |
| refund bonds issued after the date on which the referendum |
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| making
this Law
applicable to the taxing district is held if | 2 |
| the bonds were approved by
referendum after the date on which | 3 |
| the referendum making this Law
applicable to the taxing | 4 |
| district is held; (e) made for any
taxing district to pay | 5 |
| interest or principal on
revenue bonds issued before the date | 6 |
| on which the referendum making this Law
applicable to the
| 7 |
| taxing district is held for payment of which a property tax
| 8 |
| levy or the full faith and credit of the unit of local | 9 |
| government is pledged;
however, a tax for the payment of | 10 |
| interest or principal on those bonds shall be
made only after | 11 |
| the governing body of the unit of local government finds that
| 12 |
| all other sources for payment are insufficient to make those | 13 |
| payments; (f) made
for payments under a building commission | 14 |
| lease when the lease payments are for
the retirement of bonds | 15 |
| issued by the commission before the date on which the
| 16 |
| referendum making this
Law applicable to the taxing district is | 17 |
| held to
pay for the building project; (g) made for payments due | 18 |
| under installment
contracts entered into before the date on | 19 |
| which the referendum making this Law
applicable to
the taxing | 20 |
| district is held;
(h) made for payments
of principal and | 21 |
| interest on limited bonds,
as defined in Section 3 of the Local | 22 |
| Government Debt Reform Act, in an amount
not to exceed the debt | 23 |
| service extension base less the amount in items (b),
(c), and | 24 |
| (e) of this definition for non-referendum obligations, except
| 25 |
| obligations initially issued pursuant to referendum; (i) made | 26 |
| for payments
of
principal and interest on bonds issued under | 27 |
| Section 15 of the Local Government
Debt Reform Act;
(j)
made | 28 |
| for a qualified airport authority to pay interest or principal | 29 |
| on
general obligation bonds issued for the purpose of paying | 30 |
| obligations due
under, or financing airport facilities | 31 |
| required to be acquired, constructed,
installed or equipped | 32 |
| pursuant to, contracts entered into before March
1, 1996 (but | 33 |
| not including any amendments to such a contract taking effect | 34 |
| on
or after that date); (k) made to fund expenses of providing |
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| joint
recreational programs for the handicapped under Section | 2 |
| 5-8 of
the
Park District Code or Section 11-95-14 of the | 3 |
| Illinois Municipal Code; and (l) made for contributions to a | 4 |
| firefighter's pension fund created under Article 4 of the | 5 |
| Illinois Pension Code, to the extent of the amount certified | 6 |
| under item (5) of Section 4-134 of the Illinois Pension Code.
| 7 |
| "Aggregate extension" for all taxing districts to which | 8 |
| this Law applies in
accordance with paragraph (2) of subsection | 9 |
| (e) of Section 18-213 means the
annual corporate extension for | 10 |
| the
taxing district and those special purpose extensions that | 11 |
| are made annually for
the taxing district, excluding special | 12 |
| purpose extensions: (a) made for the
taxing district to pay | 13 |
| interest or principal on general obligation bonds that
were | 14 |
| approved by referendum; (b) made for any taxing district to pay | 15 |
| interest
or principal on general obligation bonds issued before | 16 |
| the effective date of
this amendatory Act of 1997;
(c) made
for | 17 |
| any taxing district to pay interest or principal on bonds | 18 |
| issued to refund
or continue to refund those bonds issued | 19 |
| before the effective date
of this amendatory Act of 1997;
(d) | 20 |
| made for any
taxing district to pay interest or principal on | 21 |
| bonds issued to refund or
continue to refund bonds issued after | 22 |
| the effective date of this amendatory Act
of 1997 if the bonds | 23 |
| were approved by referendum after the effective date of
this | 24 |
| amendatory Act of 1997;
(e) made for any
taxing district to pay | 25 |
| interest or principal on
revenue bonds issued before the | 26 |
| effective date of this amendatory Act of 1997
for payment of | 27 |
| which a property tax
levy or the full faith and credit of the | 28 |
| unit of local government is pledged;
however, a tax for the | 29 |
| payment of interest or principal on those bonds shall be
made | 30 |
| only after the governing body of the unit of local government | 31 |
| finds that
all other sources for payment are insufficient to | 32 |
| make those payments; (f) made
for payments under a building | 33 |
| commission lease when the lease payments are for
the retirement | 34 |
| of bonds issued by the commission before the effective date
of |
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| this amendatory Act of 1997
to
pay for the building project; | 2 |
| (g) made for payments due under installment
contracts entered | 3 |
| into before the effective date of this amendatory Act of
1997;
| 4 |
| (h) made for payments
of principal and interest on limited | 5 |
| bonds,
as defined in Section 3 of the Local Government Debt | 6 |
| Reform Act, in an amount
not to exceed the debt service | 7 |
| extension base less the amount in items (b),
(c), and (e) of | 8 |
| this definition for non-referendum obligations, except
| 9 |
| obligations initially issued pursuant to referendum; (i) made | 10 |
| for payments
of
principal and interest on bonds issued under | 11 |
| Section 15 of the Local Government
Debt Reform Act;
(j)
made | 12 |
| for a qualified airport authority to pay interest or principal | 13 |
| on
general obligation bonds issued for the purpose of paying | 14 |
| obligations due
under, or financing airport facilities | 15 |
| required to be acquired, constructed,
installed or equipped | 16 |
| pursuant to, contracts entered into before March
1, 1996 (but | 17 |
| not including any amendments to such a contract taking effect | 18 |
| on
or after that date); (k) made to fund expenses of providing | 19 |
| joint
recreational programs for the handicapped under Section | 20 |
| 5-8 of
the
Park District Code or Section 11-95-14 of the | 21 |
| Illinois Municipal Code; and (l) made for contributions to a | 22 |
| firefighter's pension fund created under Article 4 of the | 23 |
| Illinois Pension Code, to the extent of the amount certified | 24 |
| under item (5) of Section 4-134 of the Illinois Pension Code.
| 25 |
| "Debt service extension base" means an amount equal to that | 26 |
| portion of the
extension for a taxing district for the 1994 | 27 |
| levy year, or for those taxing
districts subject to this Law in | 28 |
| accordance with Section 18-213, except for
those subject to | 29 |
| paragraph (2) of subsection (e) of Section 18-213, for the
levy
| 30 |
| year in which the referendum making this Law applicable to the | 31 |
| taxing district
is held, or for those taxing districts subject | 32 |
| to this Law in accordance with
paragraph (2) of subsection (e) | 33 |
| of Section 18-213 for the 1996 levy year,
constituting an
| 34 |
| extension for payment of principal and interest on bonds issued |
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| by the taxing
district without referendum, but not including | 2 |
| excluded non-referendum bonds. For park districts (i) that were | 3 |
| first
subject to this Law in 1991 or 1995 and (ii) whose | 4 |
| extension for the 1994 levy
year for the payment of principal | 5 |
| and interest on bonds issued by the park
district without | 6 |
| referendum (but not including excluded non-referendum bonds)
| 7 |
| was less than 51% of the amount for the 1991 levy year | 8 |
| constituting an
extension for payment of principal and interest | 9 |
| on bonds issued by the park
district without referendum (but | 10 |
| not including excluded non-referendum bonds),
"debt service | 11 |
| extension base" means an amount equal to that portion of the
| 12 |
| extension for the 1991 levy year constituting an extension for | 13 |
| payment of
principal and interest on bonds issued by the park | 14 |
| district without referendum
(but not including excluded | 15 |
| non-referendum bonds). The debt service extension
base may be | 16 |
| established or increased as provided under Section 18-212.
| 17 |
| "Excluded non-referendum bonds" means (i) bonds authorized by | 18 |
| Public
Act 88-503 and issued under Section 20a of the Chicago | 19 |
| Park District Act for
aquarium and museum projects; (ii) bonds | 20 |
| issued under Section 15 of the
Local Government Debt Reform | 21 |
| Act; or (iii) refunding obligations issued
to refund or to | 22 |
| continue to refund obligations initially issued pursuant to
| 23 |
| referendum.
| 24 |
| "Special purpose extensions" include, but are not limited | 25 |
| to, extensions
for levies made on an annual basis for | 26 |
| unemployment and workers'
compensation, self-insurance, | 27 |
| contributions to pension plans, and extensions
made pursuant to | 28 |
| Section 6-601 of the Illinois Highway Code for a road
| 29 |
| district's permanent road fund whether levied annually or not. | 30 |
| The
extension for a special service area is not included in the
| 31 |
| aggregate extension.
| 32 |
| "Aggregate extension base" means the taxing district's | 33 |
| last preceding
aggregate extension as adjusted under Sections | 34 |
| 18-215
through 18-230.
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| "Levy year" has the same meaning as "year" under Section
| 2 |
| 1-155.
| 3 |
| "New property" means (i) the assessed value, after final | 4 |
| board of review or
board of appeals action, of new improvements | 5 |
| or additions to existing
improvements on any parcel of real | 6 |
| property that increase the assessed value of
that real property | 7 |
| during the levy year multiplied by the equalization factor
| 8 |
| issued by the Department under Section 17-30, (ii) the assessed | 9 |
| value, after
final board of review or board of appeals action, | 10 |
| of real property not exempt
from real estate taxation, which | 11 |
| real property was exempt from real estate
taxation for any | 12 |
| portion of the immediately preceding levy year, multiplied by
| 13 |
| the equalization factor issued by the Department under Section | 14 |
| 17-30, and
(iii) in counties that classify in accordance with | 15 |
| Section 4 of Article
IX of the
Illinois Constitution, an | 16 |
| incentive property's additional assessed value
resulting from | 17 |
| a
scheduled increase in the level of assessment as applied to | 18 |
| the first year
final board of
review market value.
In addition, | 19 |
| the county clerk in a county containing a population of
| 20 |
| 3,000,000 or more shall include in the 1997
recovered tax | 21 |
| increment value for any school district, any recovered tax
| 22 |
| increment value that was applicable to the 1995 tax year | 23 |
| calculations.
| 24 |
| "Qualified airport authority" means an airport authority | 25 |
| organized under
the Airport Authorities Act and located in a | 26 |
| county bordering on the State of
Wisconsin and having a | 27 |
| population in excess of 200,000 and not greater than
500,000.
| 28 |
| "Recovered tax increment value" means, except as otherwise | 29 |
| provided in this
paragraph, the amount of the current year's | 30 |
| equalized assessed value, in the
first year after a | 31 |
| municipality terminates
the designation of an area as a | 32 |
| redevelopment project area previously
established under the | 33 |
| Tax Increment Allocation Development Act in the Illinois
| 34 |
| Municipal Code, previously established under the Industrial |
|
|
|
09400SB1682ham001 |
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|
| 1 |
| Jobs Recovery Law
in the Illinois Municipal Code, or previously | 2 |
| established under the Economic
Development Area Tax Increment | 3 |
| Allocation Act, of each taxable lot, block,
tract, or parcel of | 4 |
| real property in the redevelopment project area over and
above | 5 |
| the initial equalized assessed value of each property in the
| 6 |
| redevelopment project area.
For the taxes which are extended | 7 |
| for the 1997 levy year, the recovered tax
increment value for a | 8 |
| non-home rule taxing district that first became subject
to this | 9 |
| Law for the 1995 levy year because a majority of its 1994 | 10 |
| equalized
assessed value was in an affected county or counties | 11 |
| shall be increased if a
municipality terminated the designation | 12 |
| of an area in 1993 as a redevelopment
project area previously | 13 |
| established under the Tax Increment Allocation
Development Act | 14 |
| in the Illinois Municipal Code, previously established under
| 15 |
| the Industrial Jobs Recovery Law in the Illinois Municipal | 16 |
| Code, or previously
established under the Economic Development | 17 |
| Area Tax Increment Allocation Act,
by an amount equal to the | 18 |
| 1994 equalized assessed value of each taxable lot,
block, | 19 |
| tract, or parcel of real property in the redevelopment project | 20 |
| area over
and above the initial equalized assessed value of | 21 |
| each property in the
redevelopment project area.
In the first | 22 |
| year after a municipality
removes a taxable lot, block, tract, | 23 |
| or parcel of real property from a
redevelopment project area | 24 |
| established under the Tax Increment Allocation
Development Act | 25 |
| in the Illinois
Municipal Code, the Industrial Jobs Recovery | 26 |
| Law
in the Illinois Municipal Code, or the Economic
Development | 27 |
| Area Tax Increment Allocation Act, "recovered tax increment | 28 |
| value"
means the amount of the current year's equalized | 29 |
| assessed value of each taxable
lot, block, tract, or parcel of | 30 |
| real property removed from the redevelopment
project area over | 31 |
| and above the initial equalized assessed value of that real
| 32 |
| property before removal from the redevelopment project area.
| 33 |
| Except as otherwise provided in this Section, "limiting | 34 |
| rate" means a
fraction the numerator of which is the last
|
|
|
|
09400SB1682ham001 |
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|
| 1 |
| preceding aggregate extension base times an amount equal to one | 2 |
| plus the
extension limitation defined in this Section and the | 3 |
| denominator of which
is the current year's equalized assessed | 4 |
| value of all real property in the
territory under the | 5 |
| jurisdiction of the taxing district during the prior
levy year. | 6 |
| For those taxing districts that reduced their aggregate
| 7 |
| extension for the last preceding levy year, the highest | 8 |
| aggregate extension
in any of the last 3 preceding levy years | 9 |
| shall be used for the purpose of
computing the limiting rate. | 10 |
| The denominator shall not include new
property or . The | 11 |
| denominator shall not include the recovered tax increment
| 12 |
| value.
When a new rate or a rate increase or decrease has been | 13 |
| approved at an election held after March 21, 2006, and is first | 14 |
| effective for the 2006 levy year or any subsequent levy year or | 15 |
| when a new rate or a rate increase or decrease has been | 16 |
| approved at an election held prior to March 22, 2006, and is | 17 |
| first effective for the 2005 or 2006 levy year, and the | 18 |
| governing body of the taxing district has elected pursuant to | 19 |
| Section 18-230 to be subject to the provisions of this | 20 |
| definition of limiting rate, the otherwise applicable limiting | 21 |
| rate shall be increased by the amount of the new rate or the | 22 |
| rate increase or shall be reduced by the amount of the rate | 23 |
| decrease, as the case may be. If the aggregate tax rate | 24 |
| extended for those funds that made up the aggregate extension | 25 |
| for a taxing district that approved a new rate or a rate | 26 |
| increase under Section 18-190 is less than the limiting rate | 27 |
| for the first year for which the new rate or rate increase is | 28 |
| effective, the limiting rate may be increased for the next 2 | 29 |
| levy years or until the limiting rate for the prior levy year | 30 |
| is equal to the aggregate tax rate extended for those funds | 31 |
| that made up the aggregate extension for the prior levy year, | 32 |
| whichever is earlier. The amount of the increase in the | 33 |
| limiting rate is the difference between the limiting rate for | 34 |
| the prior levy year and the aggregate tax rate extended for |
|
|
|
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| 1 |
| those funds that made up the aggregate extension for the prior | 2 |
| levy year. No further adjustments shall be made as a result of | 3 |
| the approval of a new rate or a rate increase. When a new rate | 4 |
| or rate increase has been approved at an election held prior to | 5 |
| March 22, 2006, and the governing body of the taxing district | 6 |
| has elected pursuant to Section 18-230 to be subject to the | 7 |
| provisions of this definition of limiting rate, and the taxing | 8 |
| district's limiting rate was increased as a result of the | 9 |
| application of the tax rate increase factor in one or more | 10 |
| years to the aggregate extension base by an aggregate amount | 11 |
| not less than the amount of the new rate or the rate increase, | 12 |
| no further adjustments in the aggregate extension base or the | 13 |
| limiting rate shall be made as a result of the prior approval | 14 |
| of the new rate or the rate increase. In determining the amount | 15 |
| of the increase in the limiting rate as a result of the | 16 |
| application of the tax rate increase factor, the county clerk | 17 |
| shall calculate what the limiting rate would have been if the | 18 |
| aggregate extension base had not been increased by the tax rate | 19 |
| increase factor and compare the result of this calculation with | 20 |
| the taxing districts's actual limiting rate for the levy year | 21 |
| in which the tax rate increase factor was applied. If the | 22 |
| taxing district's limiting rate was increased as a result of | 23 |
| the application of the tax rate increase factor, but the | 24 |
| aggregate amount of the increase was less than the amount of | 25 |
| the new rate or the rate increase, the limiting rate shall be | 26 |
| increased in the manner described in this paragraph for the | 27 |
| next 2 levy years less the number of levy years that the tax | 28 |
| rate increase factor was applied after the year of the | 29 |
| referendum.
| 30 |
| (Source: P.A. 92-547, eff. 6-13-02; 93-601, eff. 1-1-04; | 31 |
| 93-606, eff. 11-18-03; 93-612, eff. 11-18-03; 93-689, eff. | 32 |
| 7-1-04; 93-690, eff. 7-1-04; 93-1049, eff. 11-17-04; revised | 33 |
| 12-14-04.)
|
|
|
|
09400SB1682ham001 |
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|
| 1 |
| (35 ILCS 200/18-190)
| 2 |
| Sec. 18-190. Direct referendum; new rate or increased rate. | 3 |
| (a) If a new rate
or a rate increase is authorized by | 4 |
| statute to be imposed without referendum or
is subject to a | 5 |
| backdoor referendum, as defined in Section 28-2 of the Election
| 6 |
| Code, the governing body of the affected taxing district before | 7 |
| levying the new
rate or rate increase shall submit the new rate | 8 |
| or rate increase to direct
referendum under the provisions of | 9 |
| this Section and of Article 28 of the Election Code. | 10 |
| Notwithstanding the provisions, requirements, or limitations | 11 |
| of any other law, any tax levied for the 2005 levy year and all | 12 |
| subsequent levy years by any taxing district subject to this | 13 |
| Law may be extended at a rate exceeding the rate established | 14 |
| for that tax by referendum or statute, provided that the rate | 15 |
| does not exceed the statutory ceiling above which the tax is | 16 |
| not authorized to be further increased either by referendum or | 17 |
| in any other manner. Notwithstanding the provisions, | 18 |
| requirements, or limitations of any other law, all taxing | 19 |
| districts subject to this Law shall follow the provisions of | 20 |
| this Section whenever seeking referenda approval after March | 21 |
| 21, 2006 to (i) levy a new tax rate authorized by statute, (ii) | 22 |
| increase the rate extended for any tax the taxing district is | 23 |
| authorized to levy and which rate is authorized by statute to | 24 |
| be increased by referendum, or (iii) increase the limiting rate | 25 |
| applicable to the taxing district. All taxing districts subject | 26 |
| to this Law are authorized to seek referendum approval of each | 27 |
| proposition described and set forth in this Section. | 28 |
| The proposition seeking to obtain referendum approval to | 29 |
| levy a new tax rate as authorized in clause (i) shall be in | 30 |
| substantially the following form: | 31 |
| Shall ... (insert legal name, number, if any, and | 32 |
| county or counties of taxing district and geographic or | 33 |
| other common name by which a school or community college | 34 |
| district is known and referred to), Illinois, be authorized |
|
|
|
09400SB1682ham001 |
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|
| 1 |
| to levy a new tax for ... purposes and have an additional | 2 |
| tax of ...% of the equalized assessed value of the taxable | 3 |
| property therein extended for such purposes? | 4 |
| The votes must be recorded as "Yes" or "No". | 5 |
| The proposition seeking to obtain referendum approval for | 6 |
| the increase in a specific tax rate as authorized in clause | 7 |
| (ii) shall be in substantially the following form: | 8 |
| Shall the rate at which the tax authorized to be | 9 |
| extended for ... purposes of ... (insert legal name, | 10 |
| number, if any, and county or counties of taxing district | 11 |
| and geographic or other common name by which a school or | 12 |
| community college district is known and referred to), | 13 |
| Illinois, be increased by an additional amount equal to | 14 |
| ...% of the equalized assessed value of the taxable | 15 |
| property therein? | 16 |
| The votes must be recorded as "Yes" or "No". | 17 |
| The proposition seeking to obtain referendum approval for | 18 |
| the increase in the limiting rate as authorized in clause (iii) | 19 |
| shall be in substantially the following form: | 20 |
| Shall the limiting rate under the Property Tax | 21 |
| Extension Limitation Law for ... (insert legal name, | 22 |
| number, if any, and county or counties of taxing district | 23 |
| and geographic or other common name by which a school or | 24 |
| community college district is known and referred to), | 25 |
| Illinois, be increased by an additional amount equal to | 26 |
| ...% of the equalized assessed value of the taxable | 27 |
| property therein? | 28 |
| The votes must be recorded as "Yes" or "No". | 29 |
| The ballot for any proposition submitted pursuant to this | 30 |
| Section shall have printed thereon, but not as a part of the | 31 |
| proposition submitted, only the following supplemental | 32 |
| information: | 33 |
| (1) the rate at which the specific tax or the limiting | 34 |
| rate was most recently extended (at the time the submission |
|
|
|
09400SB1682ham001 |
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| 1 |
| of the proposition is initiated by the taxing district); | 2 |
| (2) the approximate amount of taxes extendable at the | 3 |
| rate most recently extended for the specific rate or the | 4 |
| limiting rate, and the approximate amount of taxes | 5 |
| extendable at the increased rate, such amounts to be | 6 |
| computed upon the last known equalized assessed value of | 7 |
| taxable property in the taxing district (at the time the | 8 |
| submission of the proposition is initiated by the taxing | 9 |
| district); and | 10 |
| (3) the approximate amount of the additional tax | 11 |
| extendable against property containing a single family | 12 |
| residence and having a fair market value of $100,000 if the | 13 |
| proposition is approved. The approximate amount of the tax | 14 |
| extendable against property containing a single family | 15 |
| residence shall be calculated (i) without regard to any | 16 |
| property tax exemptions and (ii) based upon the percentage | 17 |
| level of assessment prescribed for such property by statute | 18 |
| or by ordinance of the county board in counties which | 19 |
| classify property for purposes of taxation in accordance | 20 |
| with Section 4 of Article IX of the Constitution. | 21 |
| Any notice required to be published in connection with the | 22 |
| submission of the proposition shall also contain this | 23 |
| supplemental information and shall not contain any other | 24 |
| supplemental information regarding the proposition. Any error, | 25 |
| miscalculation, or inaccuracy in computing any amount set forth | 26 |
| on the ballot and in the notice that is not deliberate shall | 27 |
| not invalidate or affect the validity of any proposition | 28 |
| approved. Notice of the referendum shall be published and | 29 |
| posted as otherwise required by law, and the submission of the | 30 |
| proposition shall be initiated as provided by law. | 31 |
| If a majority of all ballots cast on the proposition are in | 32 |
| favor of the proposition, the following provisions shall be | 33 |
| applicable to the extension of taxes for the taxing district: | 34 |
| (A) a new tax rate shall be first effective for the |
|
|
|
09400SB1682ham001 |
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|
| 1 |
| levy year in which the new rate is approved; | 2 |
| (B) if the proposition provides for a new tax rate, the | 3 |
| taxing district is authorized to levy a tax after the | 4 |
| canvass of the results of the referendum by the election | 5 |
| authority for the purposes for which the tax is authorized; | 6 |
| (C) a tax rate increase shall be first effective for | 7 |
| the levy year in which the rate increase is approved, | 8 |
| provided that the taxing district may elect to have a rate | 9 |
| increase be effective for the levy year prior to the levy | 10 |
| year in which the rate increase is approved unless the | 11 |
| extension of taxes for the prior levy year occurs 30 days | 12 |
| or less after the canvass of the results of the referendum | 13 |
| by the election authority in any county in which the taxing | 14 |
| district is located; | 15 |
| (D) in order for the tax rate increase to be first | 16 |
| effective for the levy year prior to the levy year of the | 17 |
| referendum, the taxing district must certify its election | 18 |
| to have the rate increase be effective for the prior levy | 19 |
| year to the clerk of each county in which the taxing | 20 |
| district is located not more than 2 days after the date the | 21 |
| results of the referendum are canvassed by the election | 22 |
| authority; and | 23 |
| (E) if the proposition provides for an increase in a | 24 |
| specific tax rate or in the limiting rate, the increase may | 25 |
| be effective regardless of whether the proposition is | 26 |
| approved before or after the taxing district adopts or | 27 |
| files its levy for any levy year.
| 28 |
| Rates
required to extend taxes on levies subject to a | 29 |
| backdoor referendum in each
year there is a levy are not new | 30 |
| rates or rate increases under this Section if
a
levy has been | 31 |
| made for the fund in one or more of the preceding 3 levy
years. | 32 |
| Changes made by this amendatory Act of 1997 to this Section in
| 33 |
| reference to rates required to extend taxes on levies subject | 34 |
| to a backdoor
referendum in each year there is a levy are |
|
|
|
09400SB1682ham001 |
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|
| 1 |
| declarative of existing law and not
a new enactment. | 2 |
| (b) Whenever other applicable law authorizes a taxing | 3 |
| district
subject to the
limitation
with respect to its | 4 |
| aggregate extension provided for in this Law to issue bonds
or | 5 |
| other obligations either without referendum or subject to | 6 |
| backdoor
referendum, the taxing district may elect for each | 7 |
| separate bond issuance to
submit the question of the issuance | 8 |
| of the bonds or obligations directly to the
voters of the | 9 |
| taxing district, and if the referendum passes the taxing
| 10 |
| district is not required to comply with any backdoor referendum
| 11 |
| procedures or requirements set forth in the other applicable | 12 |
| law. The
direct referendum shall be initiated by ordinance or | 13 |
| resolution of the
governing body of the taxing district, and | 14 |
| the question shall be certified
to the proper election | 15 |
| authorities in accordance with the provisions of the
Election | 16 |
| Code.
| 17 |
| (Source: P.A. 88-455; 88-670, eff. 12-2-94; 89-385, eff. | 18 |
| 8-18-95; 89-718,
eff. 3-7-97.)
| 19 |
| (35 ILCS 200/18-205)
| 20 |
| Sec. 18-205. Referendum to increase the extension | 21 |
| limitation. A taxing
district is limited to an extension | 22 |
| limitation
increase of 5% or the percentage increase
in the | 23 |
| Consumer Price Index during the 12-month calendar year | 24 |
| preceding the
levy year, whichever is less. A taxing district | 25 |
| may increase its extension
limitation for one or more levy | 26 |
| years
a current levy year if that taxing district holds a | 27 |
| referendum
before the levy date for the first levy year at | 28 |
| which a majority of voters voting on the issue approves
| 29 |
| adoption of a higher extension limitation. Referenda shall be | 30 |
| conducted at a
regularly scheduled election in accordance with | 31 |
| the Election Code provided
that notice of the referendum, if | 32 |
| held before July 1, 1999, has been given in
accordance with the | 33 |
| provisions of Section 12-5 of the Election Code in effect
at |
|
|
|
09400SB1682ham001 |
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|
| 1 |
| the time of the bond referendum, at least 10 and not more than | 2 |
| 45 days
before the date of the election, notwithstanding the | 3 |
| time for publication
otherwise imposed by Section 12-5. Notices | 4 |
| required in connection with the
submission of public questions | 5 |
| on or after July 1, 1999 shall be as set forth
in Section 12-5 | 6 |
| of the Election Code . The question shall be presented in
| 7 |
| substantially the following manner for all elections held after | 8 |
| March 21, 2006 :
| 9 |
| Shall the extension limitation under the Property Tax | 10 |
| Extension Limitation Law for (insert the legal name, | 11 |
| number, if any, and county or counties of the taxing | 12 |
| district and geographic or other common name by which a | 13 |
| school or community college district is known and referred | 14 |
| to), Illinois, be increased from the lesser of 5% or the | 15 |
| percentage increase in the Consumer Price Index over the | 16 |
| prior levy year to (insert the percentage of the proposed | 17 |
| increase)% per year for (insert each levy year for which | 18 |
| the increased extension limitation will apply)? | 19 |
| The votes must be recorded as "Yes" or "No".
| 20 |
| -------------------------------------------------------------
| 21 |
| Shall the extension limitation
| 22 |
| under the Property Tax Extension
| 23 |
| Limitation Law for ...(taxing YES
| 24 |
| district name)... be increased from
| 25 |
| ...(the lesser of 5% or the increase ----------------
| 26 |
| in the Consumer Price Index over the
| 27 |
| prior levy year)...% to ...(percentage NO
| 28 |
| of proposed increase)...% for the
| 29 |
| ...(levy year)... levy year?
| 30 |
| -------------------------------------------------------------
| 31 |
| If a majority of voters voting on the issue approves the | 32 |
| adoption of
the increase, the increase shall be applicable for | 33 |
| each
the levy year specified.
| 34 |
| The ballot for any question submitted pursuant to this |
|
|
|
09400SB1682ham001 |
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LRB094 07334 BDD 54896 a |
|
| 1 |
| Section shall have printed thereon, but not as a part of the | 2 |
| question submitted, only the approximate amount of the | 3 |
| additional tax extendable for the first levy year against | 4 |
| property containing a single family residence and having a fair | 5 |
| market value of $100,000 if the proposition is approved, | 6 |
| calculated by using (A) the lesser of 5% or the percentage | 7 |
| increase in the Consumer Price Index for the prior levy year | 8 |
| (or an estimate of the percentage increase for the prior levy | 9 |
| year if the increase is unavailable at the time the submission | 10 |
| of the question is initiated by the taxing district), (B) the | 11 |
| percentage increase proposed in the question, and (C) the last | 12 |
| known equalized assessed value and aggregate extension base of | 13 |
| the taxing district at the time the submission of the question | 14 |
| is initiated by the taxing district. The approximate amount of | 15 |
| the tax extendable against property containing a single family | 16 |
| residence shall be calculated (i) without regard to any | 17 |
| property tax exemptions and (ii) based upon the percentage | 18 |
| level of assessment prescribed for such property by statute or | 19 |
| by ordinance of the county board in counties which classify | 20 |
| property for purposes of taxation in accordance with Section 4 | 21 |
| of Article IX of the Constitution. Any notice required to be | 22 |
| published in connection with the submission of the question | 23 |
| shall also contain this supplemental information and shall not | 24 |
| contain any other supplemental information. Any error, | 25 |
| miscalculation, or inaccuracy in computing any amount set forth | 26 |
| on the ballot or in the notice that is not deliberate shall not | 27 |
| invalidate or affect the validity of any proposition approved. | 28 |
| Notice of the referendum shall be published and posted as | 29 |
| otherwise required by law, and the submission of the question | 30 |
| shall be initiated as provided by law.
| 31 |
| (Source: P.A. 90-812, eff. 1-26-99; 91-57, eff. 6-30-99 .)
| 32 |
| (35 ILCS 200/18-230)
| 33 |
| Sec. 18-230. Rate increase or decrease factor. Only when
|
|
|
|
09400SB1682ham001 |
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LRB094 07334 BDD 54896 a |
|
| 1 |
| When a new rate or a rate
increase or decrease is first | 2 |
| effective for the 2006
current levy year or any preceding levy | 3 |
| year after having
has been
approved by referendum held prior to | 4 |
| March 22, 2006 , the aggregate extension base, as adjusted in | 5 |
| Section
Sections
18-215 and 18-220 , shall be multiplied by a | 6 |
| rate increase (or decrease) factor.
The numerator of the rate | 7 |
| increase (or decrease) factor is the total combined
rate for | 8 |
| the funds that made up the aggregate extension for the taxing | 9 |
| district
for the prior year plus the rate increase approved or | 10 |
| minus the rate decrease
approved. The denominator of the rate | 11 |
| increase or decrease factor is the total
combined rate for the | 12 |
| funds that made up the aggregate extension for the prior
year. | 13 |
| For those taxing districts for which a new rate or a rate | 14 |
| increase has
been approved by referendum held after December | 15 |
| 31, 1988, and
that did not increase their rate to the new | 16 |
| maximum rate for that fund, the
rate increase factor shall be | 17 |
| adjusted for 4 levy years after the year
of the referendum by a | 18 |
| factor the numerator of which is the portion of the
new or | 19 |
| increased rate for which taxes were not extended plus the | 20 |
| aggregate
rate in effect for the levy year prior to the levy | 21 |
| year in which the
referendum was passed and the denominator of | 22 |
| which is the aggregate rate in
effect for the levy year prior | 23 |
| to the levy year in which the referendum
was passed. Taxing | 24 |
| districts that approved a tax rate increase proposition at an | 25 |
| election held prior to March 22, 2006, may elect to not be | 26 |
| governed by the provisions of this Section, but to instead be | 27 |
| governed by the definition of "limiting rate" set forth in | 28 |
| Section 18-185. This election may be first effective for any | 29 |
| levy year, but once made, this election shall be irrevocable; | 30 |
| provided that the taxing district must certify its election to | 31 |
| be governed by Section 18-185 to the county clerk not less than | 32 |
| 30 days prior to the extension of taxes for the first effected | 33 |
| levy year in each county in which the taxing district is | 34 |
| located.
|
|
|
|
09400SB1682ham001 |
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LRB094 07334 BDD 54896 a |
|
| 1 |
| (Source: P.A. 87-17; 88-455.)
| 2 |
| Section 99. Effective date. This Act takes effect upon | 3 |
| becoming law.".
|
|