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 Bill Status of HB0419  100th General Assembly


Short Description:  PROP TX-FALLING EAV

House Sponsors
Rep. Grant Wehrli, Jerry Costello, II and Natalie A. Manley

Last Action
DateChamber Action
  3/31/2017HouseRule 19(a) / Re-referred to Rules Committee

Statutes Amended In Order of Appearance
35 ILCS 200/18-185
35 ILCS 200/18-205


Synopsis As Introduced
Amends the Property Tax Extension Limitation Law in the Property Tax Code. Provides that if (i) the total equalized assessed value of all taxable property in the taxing district for 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, or (ii) the median equalized assessed value of all taxable property in the taxing district for the current levy year and the 2 levy years immediately preceding the current levy year is less than the median equalized assessed value of all taxable property in the taxing district for the 3 levy years immediately preceding that 3-year period, 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 the rate of increase approved by the voters). Effective immediately.

Actions 
DateChamber Action
  1/12/2017HouseFiled with the Clerk by Rep. Grant Wehrli
  1/12/2017HouseFirst Reading
  1/12/2017HouseReferred to Rules Committee
  1/25/2017HouseAssigned to Revenue & Finance Committee
  2/2/2017HouseAdded Co-Sponsor Rep. Jerry Costello, II
  2/24/2017HouseTo Property Tax Subcommittee
  3/10/2017HouseAdded Co-Sponsor Rep. Natalie A. Manley
  3/31/2017HouseRule 19(a) / Re-referred to Rules Committee

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