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90_SB0715ham001
LRB9003243KDksam
1 AMENDMENT TO SENATE BILL 715
2 AMENDMENT NO. . Amend Senate Bill 715 by replacing
3 everything after the enacting clause with the following:
4 "Section 5. The Property Tax Code is amended by changing
5 Section 18-45 as follows:
6 (35 ILCS 200/18-45)
7 Sec. 18-45. Computation of rates. Except as provided
8 below, each county clerk shall estimate and determine the
9 rate per cent upon the equalized assessed valuation for the
10 levy year of the property in the county's taxing districts
11 and special service areas, as established under Article VII
12 of the Illinois Constitution, so that the rate will produce,
13 within the proper divisions of that county, not less than the
14 net amount that will be required by the county board or
15 certified to the county clerk according to law. Prior to
16 extension, the county clerk shall determine the maximum
17 amount of tax authorized to be levied by any statute. If the
18 amount of any tax certified to the county clerk for extension
19 exceeds the maximum, the clerk shall extend only the maximum
20 allowable levy.
21 The county clerk shall exclude from the total equalized
22 assessed valuation, whenever estimating and determining it
-2- LRB9003243KDksam
1 under this Section and Sections 18-50 through 18-105, the
2 equalized assessed valuation in the percentage which has been
3 agreed to by each taxing district, of any property or portion
4 thereof within an Enterprise Zone upon which an abatement of
5 taxes was made under Section 18-170. However, if a
6 municipality has adopted tax increment financing under
7 Division 74.4 of Article 11 of the Illinois Municipal Code,
8 the county clerk shall estimate and determine rates in
9 accordance with Sections 11-74.4-7 through 11-74.4-9 of that
10 Act. Beginning on January 1, 1998 and thereafter, the
11 equalized assessed value of all property for the computation
12 of the amount to be extended within a county with 3,000,000
13 or more inhabitants shall be the sum of (i) the equalized
14 assessed value of such property for the year immediately
15 preceding the levy year as established by the assessment and
16 equalization process for the year immediately prior to the
17 levy year, (ii) the equalized assessed value of any property
18 that qualifies as new property, as defined in Section 18-185,
19 or annexed property, as defined in Section 18-225, for the
20 current levy year, and (iii) any recovered tax increment
21 value, as defined in Section 18-185, for the current levy
22 year, less the equalized assessed value of any property that
23 qualifies as disconnected property, as defined in Section
24 18-225, for the current levy year.
25 (Source: P.A. 86-233; 86-953; 86-957; 86-1475; 87-17; 87-477;
26 87-895; 88-455.)".