HB1614ham001 98TH GENERAL ASSEMBLY

Rep. Dennis M. Reboletti

Filed: 4/12/2013

09800HB1614ham001 LRB098 06031 HLH 44538 a

AMENDMENT TO HOUSE BILL 1614

AMENDMENT NO. ______. Amend House Bill 1614 by replacing everything after the enacting clause with the following:

"Section 5. The Property Tax Code is amended by changing Section 1-55 as follows:

(35 ILCS 200/1-55)

Sec. 1-55. 33 1/3%. One-third of the fair cash value of property, as determined by the lesser of:

(1) the Department's sales ratio studies for the 3 most recent years preceding the assessment year, adjusted to take into account any changes in assessment levels implemented since the data for the studies were collected; or

(2) the valuation of the property in the prior year.

(Source: P.A. 86-1481; 87-877; 88-455.)".