Illinois General Assembly - Bill Status for SB2862
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 Bill Status of SB2862  99th General Assembly

Short Description:  PTELL-EXTENSION LIMITATION

Senate Sponsors
Sen. Martin A. Sandoval

Last Action
DateChamber Action
  1/8/2013SenateSession Sine Die

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 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.

Actions 
DateChamber Action
  1/24/2012SenateFiled with Secretary by Sen. Martin A. Sandoval
  1/24/2012SenateFirst Reading
  1/24/2012SenateReferred to Assignments
  1/31/2012SenateAssigned to Revenue
  3/1/2012SenatePostponed - Revenue
  3/8/2012SenatePostponed - Revenue
  3/9/2012SenateRule 2-10 Committee Deadline Established As March 30, 2012
  3/30/2012SenateRule 2-10 Committee/3rd Reading Deadline Established As April 26, 2012
  4/26/2012SenateRule 2-10 Committee/3rd Reading Deadline Established As May 11, 2012
  5/2/2012SenatePostponed - Revenue
  5/9/2012SenatePostponed - Revenue
  5/11/2012SenateRule 3-9(a) / Re-referred to Assignments
  1/8/2013SenateSession Sine Die

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