HB4417 102ND GENERAL ASSEMBLY

LRB102 23531 HLH 32713 b

102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
HB4417

Introduced 1/21/2022, by Rep. Chris Miller

SYNOPSIS AS INTRODUCED:

35 ILCS 200/Art. 18 Div. 5.2 heading new
35 ILCS 200/18-249.10 new

Amends the Property Tax Code. Provides that, for tax years beginning on or after January 1, 2022, no taxing district shall extend or levy a tax against any property in any amount greater than $2 per $100 of equalized assessed valuation. 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 5.2 to Article 18 as follows:

(35 ILCS 200/Art. 18 Div. 5.2 heading new)

Division 5.2. Property Tax Rate Cap.

(35 ILCS 200/18-249.10 new)

Sec. 18-249.10. Extension limitation. Notwithstanding any other law, for tax years beginning on or after January 1, 2022, no taxing district shall extend or levy a tax against any property in any amount greater than $2 per $100 of equalized assessed valuation.

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