90th General Assembly
Summary of HB1821
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House Sponsors:

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


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