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
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 2 SENATE - 0
END OF INQUIRY
Full Text Bill Status