SB2889sam001 98TH GENERAL ASSEMBLY

Sen. Pamela J. Althoff

Filed: 3/17/2014

09800SB2889sam001 LRB098 19148 HLH 56480 a

AMENDMENT TO SENATE BILL 2889

AMENDMENT NO. ______. Amend Senate Bill 2889 by replacing everything after the enacting clause with the following:

"Section 5. The Property Tax Code is amended by changing Section 18-140 as follows:

(35 ILCS 200/18-140)

Sec. 18-140. Extension upon equalized assessment of current levy year. All taxes shall be extended by each county clerk upon the valuation produced by the equalization and assessment of property by the Department for the levy year. In the computation of rates, a fraction of a mill shall be extended as the next higher mill. In counties other than Cook County, rates may be calculated beyond 3 decimal points to allow the extension to be as close to the levy requested as possible; however, the extension may not exceed the levy requested, after all reductions required under the Property Tax Extension Limitation Law or any other applicable law are applied. Each installment of taxes shall be extended in a separate column. Installments shall be equal and as to each installment a fraction of a cent shall be extended as one cent.

(Source: P.A. 87-17; 88-455.)

Section 99. Effective date. This Act takes effect upon becoming law.".