Illinois General Assembly - Full Text of HB1539
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Full Text of HB1539  102nd General Assembly

HB1539 102ND GENERAL ASSEMBLY


 


 
102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
HB1539

 

Introduced 2/17/2021, by Rep. Emanuel Chris Welch

 

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%".


LRB102 03555 HLH 13568 b

 

 

A BILL FOR

 

HB1539LRB102 03555 HLH 13568 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
9studies for the 3 most recent years preceding the assessment
10year, adjusted to take into account any changes in assessment
11levels implemented since the data for the studies were
12collected.
13(Source: P.A. 86-1481; 87-877; 88-455.)