State of Illinois
90th General Assembly

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[ House Amendment 001 ][ House Amendment 002 ]


      35 ILCS 200/18-230
          Amends the Property Tax Extension Limitation Law  in  the
      Property  Tax  Code  to  provide  that  if a new rate or rate
      increase was approved by referendum, the taxing district  may
      increase  its  rate  to  that  allowed  by referendum and the
      taxing  district  shall  not  be  subject  to  the  extension
 1        AN ACT to amend the Property Tax Code by changing Section
 2    18-230.
 3        Be it enacted by the People of  the  State  of  Illinois,
 4    represented in the General Assembly:
 5        Section  5.  The Property Tax Code is amended by changing
 6    Section 18-230 as follows:
 7        (35 ILCS 200/18-230)
 8        Sec. 18-230.  Rate increase or decrease  factor.  When  a
 9    new  rate  or a rate increase or decrease first effective for
10    the current levy year has been approved  by  referendum,  the
11    aggregate  extension base, as adjusted in Sections 18-215 and
12    18-220, shall be multiplied by a rate increase (or  decrease)
13    factor.  The  numerator  of  the  rate increase (or decrease)
14    factor is the total combined rate for the funds that made  up
15    the aggregate extension for the taxing district for the prior
16    year  plus  the  rate  increase  approved  or  minus the rate
17    decrease approved. The denominator of the  rate  increase  or
18    decrease factor is the total combined rate for the funds that
19    made  up  the  aggregate  extension  for the prior year.  For
20    those taxing districts  for  which  a  new  rate  or  a  rate
21    increase  has been approved by referendum held after December
22    31, 1988, and that did not increase their  rate  to  the  new
23    maximum  rate for that fund, those taxing districts shall, at
24    any  time  thereafter  and  without  further  referendum   or
25    authority,  be  allowed  to  levy  taxes  at any rate that is
26    greater than that allowed before December 31, 1988, but equal
27    to  or  less  than  the  maximum  rate  so  allowed  in   the
28    referendum.  Any  such taxing district may vary the increased
29    rate from one year to another provided that the rate does not
30    exceed the maximum rate allowed by referendum. The amount  of
31    any  such  increase in the rate over the rate existing before
                            -2-                LRB9005034DNcc
 1    the referendum levied in any particular levy  year  shall  be
 2    exempt  from all calculations of the extension limitation and
 3    limiting rate under this Law and shall not be  considered  as
 4    part  of  the  aggregate  extension  nor  as  a  part  of the
 5    aggregate extension base the rate increase  factor  shall  be
 6    adjusted for 4 levy years after the year of the referendum by
 7    a  factor the numerator of which is the portion of the new or
 8    increased rate for which taxes were  not  extended  plus  the
 9    aggregate  rate in effect for the levy year prior to the levy
10    year in which the referendum was passed and  the  denominator
11    of  which  is  the aggregate rate in effect for the levy year
12    prior to the levy year in which the referendum was passed.
13    (Source: P.A. 87-17; 88-455.)

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