State of Illinois
90th General Assembly

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      35 ILCS 200/18-212
          Amends the Property Tax Extension Limitation Law  in  the
      Property  Tax  Code.  Makes a technical change in the Section
      concerning a referendum on the debt service extension base.
 1        AN ACT to amend the Property Tax Code by changing Section
 2    18-212.
 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 18-212 as follows:
 7        (35 ILCS 200/18-212)
 8        Sec. 18-212. Referendum on debt service extension base. A
 9    taxing district may establish or increase  its  debt  service
10    extension base if (i) that taxing district holds a referendum
11    before  the  date  on  which  the levy must be filed with the
12    county clerk of the county or counties  where  in  which  the
13    taxing  district  is  situated  and (ii) a majority of voters
14    voting on the issue approves the establishment of or increase
15    in the debt service  extension  base.  Referenda  under  this
16    Section  shall be conducted at a regularly scheduled election
17    in accordance with the Election Code. The governing  body  of
18    the  taxing district shall certify the question to the proper
19    election authorities who shall submit  the  question  to  the
20    electors   of   the  taxing  district  in  substantially  the
21    following form:
22        "Shall the debt service extension base under the Property
23        Tax Extension Limitation Law  for  ...  (taxing  district
24        name)  ...  for  payment  of  principal  and  interest on
25        limited bonds be .... ((established at  $  ....)  .  (or)
26        (increased  from $ .... to $ ....)) .. for the ..... levy
27        year and all subsequent levy years?"
28        Votes on the question shall be recorded as "Yes" or "No".
29        If a majority of voters voting on the issue approves  the
30    establishment  of  or  increase in the debt service extension
31    base, the establishment of or increase in  the  debt  service
                            -2-                LRB9009728KDpc
 1    extension  base  shall  be  applicable  for  the  levy  years
 2    specified.
 3    (Source: P.A. 89-385, eff. 8-18-95.)

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