98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014
HB6231

 

Introduced , by Rep. Jack D. Franks

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 200/18-185
35 ILCS 200/18-205

    Amends the Property Tax Extension Limitation Law in the Property Tax Code. Provides that, if the total equalized assessed value of all taxable property in the taxing district for the current levy year (excluding new property, recovered tax increment value, and property that is annexed to or disconnected from the taxing district in the current levy year) is less than the total equalized assessed value of all taxable property in the taxing district for the previous levy year, then the extension limitation is (a) 0% or (b) the rate of increase approved by voters (instead of the lesser of 5% or the percentage increase in the Consumer Price Index during the 12-month calendar year preceding the levy year or (b) the rate of increase approved by voters). Effective immediately.


LRB098 21265 HLH 59369 b

FISCAL NOTE ACT MAY APPLY
HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB6231LRB098 21265 HLH 59369 b

1    AN ACT concerning revenue.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Property Tax Code is amended by changing
5Sections 18-185 and 18-205 as follows:
 
6    (35 ILCS 200/18-185)
7    Sec. 18-185. Short title; definitions. This Division 5 may
8be cited as the Property Tax Extension Limitation Law. As used
9in this Division 5:
10    "Consumer Price Index" means the Consumer Price Index for
11All Urban Consumers for all items published by the United
12States Department of Labor.
13    "Extension limitation" means (a) the lesser of 5% or the
14percentage increase in the Consumer Price Index during the
1512-month calendar year preceding the levy year or (b) the rate
16of increase approved by voters under Section 18-205.
17Notwithstanding any other provision of law, if the total
18equalized assessed value of all taxable property in the taxing
19district for the current levy year (excluding new property,
20recovered tax increment value, and property that is annexed to
21or disconnected from the taxing district in the current levy
22year) is less than the total equalized assessed value of all
23taxable property in the taxing district for the previous levy

 

 

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1year, then the extension limitation is (a) 0% or (b) the rate
2of increase approved by voters under Section 18-205.
3    "Affected county" means a county of 3,000,000 or more
4inhabitants or a county contiguous to a county of 3,000,000 or
5more inhabitants.
6    "Taxing district" has the same meaning provided in Section
71-150, except as otherwise provided in this Section. For the
81991 through 1994 levy years only, "taxing district" includes
9only each non-home rule taxing district having the majority of
10its 1990 equalized assessed value within any county or counties
11contiguous to a county with 3,000,000 or more inhabitants.
12Beginning with the 1995 levy year, "taxing district" includes
13only each non-home rule taxing district subject to this Law
14before the 1995 levy year and each non-home rule taxing
15district not subject to this Law before the 1995 levy year
16having the majority of its 1994 equalized assessed value in an
17affected county or counties. Beginning with the levy year in
18which this Law becomes applicable to a taxing district as
19provided in Section 18-213, "taxing district" also includes
20those taxing districts made subject to this Law as provided in
21Section 18-213.
22    "Aggregate extension" for taxing districts to which this
23Law applied before the 1995 levy year means the annual
24corporate extension for the taxing district and those special
25purpose extensions that are made annually for the taxing
26district, excluding special purpose extensions: (a) made for

 

 

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1the taxing district to pay interest or principal on general
2obligation bonds that were approved by referendum; (b) made for
3any taxing district to pay interest or principal on general
4obligation bonds issued before October 1, 1991; (c) made for
5any taxing district to pay interest or principal on bonds
6issued to refund or continue to refund those bonds issued
7before October 1, 1991; (d) made for any taxing district to pay
8interest or principal on bonds issued to refund or continue to
9refund bonds issued after October 1, 1991 that were approved by
10referendum; (e) made for any taxing district to pay interest or
11principal on revenue bonds issued before October 1, 1991 for
12payment of which a property tax levy or the full faith and
13credit of the unit of local government is pledged; however, a
14tax for the payment of interest or principal on those bonds
15shall be made only after the governing body of the unit of
16local government finds that all other sources for payment are
17insufficient to make those payments; (f) made for payments
18under a building commission lease when the lease payments are
19for the retirement of bonds issued by the commission before
20October 1, 1991, to pay for the building project; (g) made for
21payments due under installment contracts entered into before
22October 1, 1991; (h) made for payments of principal and
23interest on bonds issued under the Metropolitan Water
24Reclamation District Act to finance construction projects
25initiated before October 1, 1991; (i) made for payments of
26principal and interest on limited bonds, as defined in Section

 

 

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13 of the Local Government Debt Reform Act, in an amount not to
2exceed the debt service extension base less the amount in items
3(b), (c), (e), and (h) of this definition for non-referendum
4obligations, except obligations initially issued pursuant to
5referendum; (j) made for payments of principal and interest on
6bonds issued under Section 15 of the Local Government Debt
7Reform Act; (k) made by a school district that participates in
8the Special Education District of Lake County, created by
9special education joint agreement under Section 10-22.31 of the
10School Code, for payment of the school district's share of the
11amounts required to be contributed by the Special Education
12District of Lake County to the Illinois Municipal Retirement
13Fund under Article 7 of the Illinois Pension Code; the amount
14of any extension under this item (k) shall be certified by the
15school district to the county clerk; (l) made to fund expenses
16of providing joint recreational programs for the handicapped
17under Section 5-8 of the Park District Code or Section 11-95-14
18of the Illinois Municipal Code; (m) made for temporary
19relocation loan repayment purposes pursuant to Sections 2-3.77
20and 17-2.2d of the School Code; (n) made for payment of
21principal and interest on any bonds issued under the authority
22of Section 17-2.2d of the School Code; (o) made for
23contributions to a firefighter's pension fund created under
24Article 4 of the Illinois Pension Code, to the extent of the
25amount certified under item (5) of Section 4-134 of the
26Illinois Pension Code; and (p) made for road purposes in the

 

 

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1first year after a township assumes the rights, powers, duties,
2assets, property, liabilities, obligations, and
3responsibilities of a road district abolished under the
4provisions of Section 6-133 of the Illinois Highway Code.
5    "Aggregate extension" for the taxing districts to which
6this Law did not apply before the 1995 levy year (except taxing
7districts subject to this Law in accordance with Section
818-213) means the annual corporate extension for the taxing
9district and those special purpose extensions that are made
10annually for the taxing district, excluding special purpose
11extensions: (a) made for the taxing district to pay interest or
12principal on general obligation bonds that were approved by
13referendum; (b) made for any taxing district to pay interest or
14principal on general obligation bonds issued before March 1,
151995; (c) made for any taxing district to pay interest or
16principal on bonds issued to refund or continue to refund those
17bonds issued before March 1, 1995; (d) made for any taxing
18district to pay interest or principal on bonds issued to refund
19or continue to refund bonds issued after March 1, 1995 that
20were approved by referendum; (e) made for any taxing district
21to pay interest or principal on revenue bonds issued before
22March 1, 1995 for payment of which a property tax levy or the
23full faith and credit of the unit of local government is
24pledged; however, a tax for the payment of interest or
25principal on those bonds shall be made only after the governing
26body of the unit of local government finds that all other

 

 

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1sources for payment are insufficient to make those payments;
2(f) made for payments under a building commission lease when
3the lease payments are for the retirement of bonds issued by
4the commission before March 1, 1995 to pay for the building
5project; (g) made for payments due under installment contracts
6entered into before March 1, 1995; (h) made for payments of
7principal and interest on bonds issued under the Metropolitan
8Water Reclamation District Act to finance construction
9projects initiated before October 1, 1991; (h-4) made for
10stormwater management purposes by the Metropolitan Water
11Reclamation District of Greater Chicago under Section 12 of the
12Metropolitan Water Reclamation District Act; (i) made for
13payments of principal and interest on limited bonds, as defined
14in Section 3 of the Local Government Debt Reform Act, in an
15amount not to exceed the debt service extension base less the
16amount in items (b), (c), and (e) of this definition for
17non-referendum obligations, except obligations initially
18issued pursuant to referendum and bonds described in subsection
19(h) of this definition; (j) made for payments of principal and
20interest on bonds issued under Section 15 of the Local
21Government Debt Reform Act; (k) made for payments of principal
22and interest on bonds authorized by Public Act 88-503 and
23issued under Section 20a of the Chicago Park District Act for
24aquarium or museum projects; (l) made for payments of principal
25and interest on bonds authorized by Public Act 87-1191 or
2693-601 and (i) issued pursuant to Section 21.2 of the Cook

 

 

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1County Forest Preserve District Act, (ii) issued under Section
242 of the Cook County Forest Preserve District Act for
3zoological park projects, or (iii) issued under Section 44.1 of
4the Cook County Forest Preserve District Act for botanical
5gardens projects; (m) made pursuant to Section 34-53.5 of the
6School Code, whether levied annually or not; (n) made to fund
7expenses of providing joint recreational programs for the
8handicapped under Section 5-8 of the Park District Code or
9Section 11-95-14 of the Illinois Municipal Code; (o) made by
10the Chicago Park District for recreational programs for the
11handicapped under subsection (c) of Section 7.06 of the Chicago
12Park District Act; (p) made for contributions to a
13firefighter's pension fund created under Article 4 of the
14Illinois Pension Code, to the extent of the amount certified
15under item (5) of Section 4-134 of the Illinois Pension Code;
16and (q) made by Ford Heights School District 169 under Section
1717-9.02 of the School Code.
18    "Aggregate extension" for all taxing districts to which
19this Law applies in accordance with Section 18-213, except for
20those taxing districts subject to paragraph (2) of subsection
21(e) of Section 18-213, means the annual corporate extension for
22the taxing district and those special purpose extensions that
23are made annually for the taxing district, excluding special
24purpose extensions: (a) made for the taxing district to pay
25interest or principal on general obligation bonds that were
26approved by referendum; (b) made for any taxing district to pay

 

 

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1interest or principal on general obligation bonds issued before
2the date on which the referendum making this Law applicable to
3the taxing district is held; (c) made for any taxing district
4to pay interest or principal on bonds issued to refund or
5continue to refund those bonds issued before the date on which
6the referendum making this Law applicable to the taxing
7district is held; (d) made for any taxing district to pay
8interest or principal on bonds issued to refund or continue to
9refund bonds issued after the date on which the referendum
10making this Law applicable to the taxing district is held if
11the bonds were approved by referendum after the date on which
12the referendum making this Law applicable to the taxing
13district is held; (e) made for any taxing district to pay
14interest or principal on revenue bonds issued before the date
15on which the referendum making this Law applicable to the
16taxing district is held for payment of which a property tax
17levy or the full faith and credit of the unit of local
18government is pledged; however, a tax for the payment of
19interest or principal on those bonds shall be made only after
20the governing body of the unit of local government finds that
21all other sources for payment are insufficient to make those
22payments; (f) made for payments under a building commission
23lease when the lease payments are for the retirement of bonds
24issued by the commission before the date on which the
25referendum making this Law applicable to the taxing district is
26held to pay for the building project; (g) made for payments due

 

 

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1under installment contracts entered into before the date on
2which the referendum making this Law applicable to the taxing
3district is held; (h) made for payments of principal and
4interest on limited bonds, as defined in Section 3 of the Local
5Government Debt Reform Act, in an amount not to exceed the debt
6service extension base less the amount in items (b), (c), and
7(e) of this definition for non-referendum obligations, except
8obligations initially issued pursuant to referendum; (i) made
9for payments of principal and interest on bonds issued under
10Section 15 of the Local Government Debt Reform Act; (j) made
11for a qualified airport authority to pay interest or principal
12on general obligation bonds issued for the purpose of paying
13obligations due under, or financing airport facilities
14required to be acquired, constructed, installed or equipped
15pursuant to, contracts entered into before March 1, 1996 (but
16not including any amendments to such a contract taking effect
17on or after that date); (k) made to fund expenses of providing
18joint recreational programs for the handicapped under Section
195-8 of the Park District Code or Section 11-95-14 of the
20Illinois Municipal Code; (l) made for contributions to a
21firefighter's pension fund created under Article 4 of the
22Illinois Pension Code, to the extent of the amount certified
23under item (5) of Section 4-134 of the Illinois Pension Code;
24and (m) made for the taxing district to pay interest or
25principal on general obligation bonds issued pursuant to
26Section 19-3.10 of the School Code.

 

 

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1    "Aggregate extension" for all taxing districts to which
2this Law applies in accordance with paragraph (2) of subsection
3(e) of Section 18-213 means the annual corporate extension for
4the taxing district and those special purpose extensions that
5are made annually for the taxing district, excluding special
6purpose extensions: (a) made for the taxing district to pay
7interest or principal on general obligation bonds that were
8approved by referendum; (b) made for any taxing district to pay
9interest or principal on general obligation bonds issued before
10the effective date of this amendatory Act of 1997; (c) made for
11any taxing district to pay interest or principal on bonds
12issued to refund or continue to refund those bonds issued
13before the effective date of this amendatory Act of 1997; (d)
14made for any taxing district to pay interest or principal on
15bonds issued to refund or continue to refund bonds issued after
16the effective date of this amendatory Act of 1997 if the bonds
17were approved by referendum after the effective date of this
18amendatory Act of 1997; (e) made for any taxing district to pay
19interest or principal on revenue bonds issued before the
20effective date of this amendatory Act of 1997 for payment of
21which a property tax levy or the full faith and credit of the
22unit of local government is pledged; however, a tax for the
23payment of interest or principal on those bonds shall be made
24only after the governing body of the unit of local government
25finds that all other sources for payment are insufficient to
26make those payments; (f) made for payments under a building

 

 

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1commission lease when the lease payments are for the retirement
2of bonds issued by the commission before the effective date of
3this amendatory Act of 1997 to pay for the building project;
4(g) made for payments due under installment contracts entered
5into before the effective date of this amendatory Act of 1997;
6(h) made for payments of principal and interest on limited
7bonds, as defined in Section 3 of the Local Government Debt
8Reform Act, in an amount not to exceed the debt service
9extension base less the amount in items (b), (c), and (e) of
10this definition for non-referendum obligations, except
11obligations initially issued pursuant to referendum; (i) made
12for payments of principal and interest on bonds issued under
13Section 15 of the Local Government Debt Reform Act; (j) made
14for a qualified airport authority to pay interest or principal
15on general obligation bonds issued for the purpose of paying
16obligations due under, or financing airport facilities
17required to be acquired, constructed, installed or equipped
18pursuant to, contracts entered into before March 1, 1996 (but
19not including any amendments to such a contract taking effect
20on or after that date); (k) made to fund expenses of providing
21joint recreational programs for the handicapped under Section
225-8 of the Park District Code or Section 11-95-14 of the
23Illinois Municipal Code; and (l) made for contributions to a
24firefighter's pension fund created under Article 4 of the
25Illinois Pension Code, to the extent of the amount certified
26under item (5) of Section 4-134 of the Illinois Pension Code.

 

 

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1    "Debt service extension base" means an amount equal to that
2portion of the extension for a taxing district for the 1994
3levy year, or for those taxing districts subject to this Law in
4accordance with Section 18-213, except for those subject to
5paragraph (2) of subsection (e) of Section 18-213, for the levy
6year in which the referendum making this Law applicable to the
7taxing district is held, or for those taxing districts subject
8to this Law in accordance with paragraph (2) of subsection (e)
9of Section 18-213 for the 1996 levy year, constituting an
10extension for payment of principal and interest on bonds issued
11by the taxing district without referendum, but not including
12excluded non-referendum bonds. For park districts (i) that were
13first subject to this Law in 1991 or 1995 and (ii) whose
14extension for the 1994 levy year for the payment of principal
15and interest on bonds issued by the park district without
16referendum (but not including excluded non-referendum bonds)
17was less than 51% of the amount for the 1991 levy year
18constituting an extension for payment of principal and interest
19on bonds issued by the park district without referendum (but
20not including excluded non-referendum bonds), "debt service
21extension base" means an amount equal to that portion of the
22extension for the 1991 levy year constituting an extension for
23payment of principal and interest on bonds issued by the park
24district without referendum (but not including excluded
25non-referendum bonds). A debt service extension base
26established or increased at any time pursuant to any provision

 

 

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1of this Law, except Section 18-212, shall be increased each
2year commencing with the later of (i) the 2009 levy year or
3(ii) the first levy year in which this Law becomes applicable
4to the taxing district, by the lesser of 5% or the percentage
5increase in the Consumer Price Index during the 12-month
6calendar year preceding the levy year. The debt service
7extension base may be established or increased as provided
8under Section 18-212. "Excluded non-referendum bonds" means
9(i) bonds authorized by Public Act 88-503 and issued under
10Section 20a of the Chicago Park District Act for aquarium and
11museum projects; (ii) bonds issued under Section 15 of the
12Local Government Debt Reform Act; or (iii) refunding
13obligations issued to refund or to continue to refund
14obligations initially issued pursuant to referendum.
15    "Special purpose extensions" include, but are not limited
16to, extensions for levies made on an annual basis for
17unemployment and workers' compensation, self-insurance,
18contributions to pension plans, and extensions made pursuant to
19Section 6-601 of the Illinois Highway Code for a road
20district's permanent road fund whether levied annually or not.
21The extension for a special service area is not included in the
22aggregate extension.
23    "Aggregate extension base" means the taxing district's
24last preceding aggregate extension as adjusted under Sections
2518-135, 18-215, and 18-230. An adjustment under Section 18-135
26shall be made for the 2007 levy year and all subsequent levy

 

 

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1years whenever one or more counties within which a taxing
2district is located (i) used estimated valuations or rates when
3extending taxes in the taxing district for the last preceding
4levy year that resulted in the over or under extension of
5taxes, or (ii) increased or decreased the tax extension for the
6last preceding levy year as required by Section 18-135(c).
7Whenever an adjustment is required under Section 18-135, the
8aggregate extension base of the taxing district shall be equal
9to the amount that the aggregate extension of the taxing
10district would have been for the last preceding levy year if
11either or both (i) actual, rather than estimated, valuations or
12rates had been used to calculate the extension of taxes for the
13last levy year, or (ii) the tax extension for the last
14preceding levy year had not been adjusted as required by
15subsection (c) of Section 18-135.
16    Notwithstanding any other provision of law, for levy year
172012, the aggregate extension base for West Northfield School
18District No. 31 in Cook County shall be $12,654,592.
19    "Levy year" has the same meaning as "year" under Section
201-155.
21    "New property" means (i) the assessed value, after final
22board of review or board of appeals action, of new improvements
23or additions to existing improvements on any parcel of real
24property that increase the assessed value of that real property
25during the levy year multiplied by the equalization factor
26issued by the Department under Section 17-30, (ii) the assessed

 

 

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1value, after final board of review or board of appeals action,
2of real property not exempt from real estate taxation, which
3real property was exempt from real estate taxation for any
4portion of the immediately preceding levy year, multiplied by
5the equalization factor issued by the Department under Section
617-30, including the assessed value, upon final stabilization
7of occupancy after new construction is complete, of any real
8property located within the boundaries of an otherwise or
9previously exempt military reservation that is intended for
10residential use and owned by or leased to a private corporation
11or other entity, (iii) in counties that classify in accordance
12with Section 4 of Article IX of the Illinois Constitution, an
13incentive property's additional assessed value resulting from
14a scheduled increase in the level of assessment as applied to
15the first year final board of review market value, and (iv) any
16increase in assessed value due to oil or gas production from an
17oil or gas well required to be permitted under the Hydraulic
18Fracturing Regulatory Act that was not produced in or accounted
19for during the previous levy year. In addition, the county
20clerk in a county containing a population of 3,000,000 or more
21shall include in the 1997 recovered tax increment value for any
22school district, any recovered tax increment value that was
23applicable to the 1995 tax year calculations.
24    "Qualified airport authority" means an airport authority
25organized under the Airport Authorities Act and located in a
26county bordering on the State of Wisconsin and having a

 

 

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1population in excess of 200,000 and not greater than 500,000.
2    "Recovered tax increment value" means, except as otherwise
3provided in this paragraph, the amount of the current year's
4equalized assessed value, in the first year after a
5municipality terminates the designation of an area as a
6redevelopment project area previously established under the
7Tax Increment Allocation Development Act in the Illinois
8Municipal Code, previously established under the Industrial
9Jobs Recovery Law in the Illinois Municipal Code, previously
10established under the Economic Development Project Area Tax
11Increment Act of 1995, or previously established under the
12Economic Development Area Tax Increment Allocation Act, of each
13taxable lot, block, tract, or parcel of real property in the
14redevelopment project area over and above the initial equalized
15assessed value of each property in the redevelopment project
16area. For the taxes which are extended for the 1997 levy year,
17the recovered tax increment value for a non-home rule taxing
18district that first became subject to this Law for the 1995
19levy year because a majority of its 1994 equalized assessed
20value was in an affected county or counties shall be increased
21if a municipality terminated the designation of an area in 1993
22as a redevelopment project area previously established under
23the Tax Increment Allocation Development Act in the Illinois
24Municipal Code, previously established under the Industrial
25Jobs Recovery Law in the Illinois Municipal Code, or previously
26established under the Economic Development Area Tax Increment

 

 

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1Allocation Act, by an amount equal to the 1994 equalized
2assessed value of each taxable lot, block, tract, or parcel of
3real property in the redevelopment project area over and above
4the initial equalized assessed value of each property in the
5redevelopment project area. In the first year after a
6municipality removes a taxable lot, block, tract, or parcel of
7real property from a redevelopment project area established
8under the Tax Increment Allocation Development Act in the
9Illinois Municipal Code, the Industrial Jobs Recovery Law in
10the Illinois Municipal Code, or the Economic Development Area
11Tax Increment Allocation Act, "recovered tax increment value"
12means the amount of the current year's equalized assessed value
13of each taxable lot, block, tract, or parcel of real property
14removed from the redevelopment project area over and above the
15initial equalized assessed value of that real property before
16removal from the redevelopment project area.
17    Except as otherwise provided in this Section, "limiting
18rate" means a fraction the numerator of which is the last
19preceding aggregate extension base times an amount equal to one
20plus the extension limitation defined in this Section and the
21denominator of which is the current year's equalized assessed
22value of all real property in the territory under the
23jurisdiction of the taxing district during the prior levy year.
24For those taxing districts that reduced their aggregate
25extension for the last preceding levy year, the highest
26aggregate extension in any of the last 3 preceding levy years

 

 

HB6231- 18 -LRB098 21265 HLH 59369 b

1shall be used for the purpose of computing the limiting rate.
2The denominator shall not include new property or the recovered
3tax increment value. If a new rate, a rate decrease, or a
4limiting rate increase has been approved at an election held
5after March 21, 2006, then (i) the otherwise applicable
6limiting rate shall be increased by the amount of the new rate
7or shall be reduced by the amount of the rate decrease, as the
8case may be, or (ii) in the case of a limiting rate increase,
9the limiting rate shall be equal to the rate set forth in the
10proposition approved by the voters for each of the years
11specified in the proposition, after which the limiting rate of
12the taxing district shall be calculated as otherwise provided.
13In the case of a taxing district that obtained referendum
14approval for an increased limiting rate on March 20, 2012, the
15limiting rate for tax year 2012 shall be the rate that
16generates the approximate total amount of taxes extendable for
17that tax year, as set forth in the proposition approved by the
18voters; this rate shall be the final rate applied by the county
19clerk for the aggregate of all capped funds of the district for
20tax year 2012.
21(Source: P.A. 97-611, eff. 1-1-12; 97-1154, eff. 1-25-13; 98-6,
22eff. 3-29-13; 98-23, eff. 6-17-13.)
 
23    (35 ILCS 200/18-205)
24    Sec. 18-205. Referendum to increase the extension
25limitation. A taxing district is limited to an extension

 

 

HB6231- 19 -LRB098 21265 HLH 59369 b

1limitation as defined in Section 18-185 of 5% or the percentage
2increase in the Consumer Price Index during the 12-month
3calendar year preceding the levy year, whichever is less. A
4taxing district may increase its extension limitation for one
5or more levy years if that taxing district holds a referendum
6before the levy date for the first levy year at which a
7majority of voters voting on the issue approves adoption of a
8higher extension limitation. Referenda shall be conducted at a
9regularly scheduled election in accordance with the Election
10Code. The question shall be presented in substantially the
11following manner for all elections held after March 21, 2006:
12        Shall the extension limitation under the Property Tax
13    Extension Limitation Law for (insert the legal name,
14    number, if any, and county or counties of the taxing
15    district and geographic or other common name by which a
16    school or community college district is known and referred
17    to), Illinois, be increased from (applicable extension
18    limitation) the lesser of 5% or the percentage increase in
19    the Consumer Price Index over the prior levy year to
20    (insert the percentage of the proposed increase)% per year
21    for (insert each levy year for which the increased
22    extension limitation will apply)?
23The votes must be recorded as "Yes" or "No".
24If a majority of voters voting on the issue approves the
25adoption of the increase, the increase shall be applicable for
26each levy year specified.

 

 

HB6231- 20 -LRB098 21265 HLH 59369 b

1    The ballot for any question submitted pursuant to this
2Section shall have printed thereon, but not as a part of the
3question submitted, only the following supplemental
4information (which shall be supplied to the election authority
5by the taxing district) in substantially the following form:
6        (1) For the (insert the first levy year for which the
7    increased extension limitation will be applicable) levy
8    year the approximate amount of the additional tax
9    extendable against property containing a single family
10    residence and having a fair market value at the time of the
11    referendum of $100,000 is estimated to be $....
12        (2) Based upon an average annual percentage increase
13    (or decrease) in the market value of such property of ...%
14    (insert percentage equal to the average annual percentage
15    increase or decrease for the prior 3 levy years, at the
16    time the submission of the question is initiated by the
17    taxing district, in the amount of (A) the equalized
18    assessed value of the taxable property in the taxing
19    district less (B) the new property included in the
20    equalized assessed value), the approximate amount of the
21    additional tax extendable against such property for the ...
22    levy year is estimated to be $... and for the ... levy year
23    is estimated to be $....
24    Paragraph (2) shall be included only if the increased
25extension limitation will be applicable for more than one year
26and shall list each levy year for which the increased extension

 

 

HB6231- 21 -LRB098 21265 HLH 59369 b

1limitation will be applicable. The additional tax shown for
2each levy year shall be the approximate dollar amount of the
3increase over the amount of the most recently completed
4extension at the time the submission of the question is
5initiated by the taxing district. The approximate amount of the
6additional tax extendable shown in paragraphs (1) and (2) shall
7be calculated by multiplying $100,000 (the fair market value of
8the property without regard to any property tax exemptions) by
9(i) the percentage level of assessment prescribed for that
10property by statute, or by ordinance of the county board in
11counties that classify property for purposes of taxation in
12accordance with Section 4 of Article IX of the Illinois
13Constitution; (ii) the most recent final equalization factor
14certified to the county clerk by the Department of Revenue at
15the time the taxing district initiates the submission of the
16proposition to the electors; (iii) the last known aggregate
17extension base of the taxing district at the time the
18submission of the question is initiated by the taxing district;
19and (iv) the difference between the percentage increase
20proposed in the question and either (i) the lesser of 5% or the
21percentage increase in the Consumer Price Index for the prior
22levy year (or an estimate of the percentage increase for the
23prior levy year if the increase is unavailable at the time the
24submission of the question is initiated by the taxing district)
25or (ii) 0%, as applicable; and dividing the result by the last
26known equalized assessed value of the taxing district at the

 

 

HB6231- 22 -LRB098 21265 HLH 59369 b

1time the submission of the question is initiated by the taxing
2district. This amendatory Act of the 97th General Assembly is
3intended to clarify the existing requirements of this Section,
4and shall not be construed to validate any prior non-compliant
5referendum language. Any notice required to be published in
6connection with the submission of the question shall also
7contain this supplemental information and shall not contain any
8other supplemental information. Any error, miscalculation, or
9inaccuracy in computing any amount set forth on the ballot or
10in the notice that is not deliberate shall not invalidate or
11affect the validity of any proposition approved. Notice of the
12referendum shall be published and posted as otherwise required
13by law, and the submission of the question shall be initiated
14as provided by law.
15(Source: P.A. 97-1087, eff. 8-24-12.)
 
16    Section 99. Effective date. This Act takes effect upon
17becoming law.