House Sponsors: BIGGERT. Short description: RE TAX EXTENS LIMIT-RATE INCR Synopsis of Bill as introduced: 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 limitation. HOUSE AMENDMENT NO. 1. Provides that, with respect to referenda held on or after the effective date of this amendatory Act, the amendatory provisions exempting the new rate or rate increase from all calculations of the extension limitation and limiting rate and from the aggregate extension or aggregate extension base under this Law apply only if the notice required by law and the ballot proposition contain a provision, in at least 16 point bold face type, stating that if the referendum passes, the new rate or increased rate, as the case may be, will not be subject to this Law. HOUSE AMENDMENT NO. 2. Deletes all substantive provisions. Amends a Section of the Property Tax Extension Limitation Law concerning the rate increase or decrease factor by making a technical change. Last action on Bill: SESSION SINE DIE Last action date: 99-01-12 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 2 SENATE - 0 END OF INQUIRY Full Text Bill Status