House Sponsors: YARBROUGH-DURKIN-SAVIANO. Senate Sponsors: WALSH,T-O'MALLEY Short description: COOK TRUTH IN TAXATION-HEARING Synopsis of Bill as introduced: Amends the Cook County Truth in Taxation Law in the Property Tax Code. Provides that taxing districts in Cook County that intend to increase a tax levy shall hold a hearing on the proposed increase at the first regularly scheduled meeting of the taxing district in the month of December, unless no regularly schedule meeting is held, in which case the hearing shall be held on a certain day in December, depending on the type of district. Effective immediately. HOUSE AMENDMENT NO. 1. Provides that the hearing concerning an increase in the tax levy shall be held at the first regularly scheduled meeting of the taxing district in the month of December or on a certain day in December, depending on the type of taxing district (underlying bill provides that hearing shall be held at the first regularly scheduled meeting of the taxing district in the month of December and that, if the corporate authority does not hold regularly scheduled meetings in December, hearings shall be held on a certain day in December, depending on the type of taxing district) (current law provides that hearings shall be held on a certain day in December, depending on the type of taxing district). SENATE AMENDMENT NO. 1. Adds reference to: 35 ILCS 200/21-30 Further amends the Property Tax Code. Provides that if, prior to the preparation of estimated tax bills in counties with 3,000,000 or more inhabitants, a certificate of error has been either approved by a court on or before November 30 of the preceding year or certified pursuant to Section 14-15 on or before November 30 of the preceding year, then the first installment of taxes on the estimated tax bills shall be computed at 50% of the total taxes for the preceding year as corrected by the certificate of error (now, the first installment is equal to 50% of the total of each tax bill for the preceding year). Last action on Bill: PUBLIC ACT.............................. 92-0475 Last action date: AUG-23-2001 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 1 END OF INQUIRY Full Text Bill Status