```
``` ```
``` ```
``` ` ` `(35 ILCS 200/18-230)` ```
``` ```
``` ` ` `Sec. 18-230. ` `Rate increase or decrease factor. ` ```
Only when a new rate or a rate
increase or decrease has been
approved by referendum held prior to March 22, 2006, the aggregate extension base, as adjusted in Section
18-215, shall be multiplied by a rate increase (or decrease) factor.
The numerator of the rate increase (or decrease) factor is the total combined
rate for the funds that made up the aggregate extension for the taxing district
for the prior year plus the rate increase approved or minus the rate decrease
approved. The denominator of the rate increase or decrease factor is the total
combined rate for the funds that made up the aggregate extension for the prior
year. For those taxing districts for which a new rate or a rate increase has
been approved by referendum held after December 31, 1988 and prior to March 22, 2006, and
that did not increase their rate to the new maximum rate for that fund, the
rate increase factor shall be adjusted for 4 levy years after the year
of the referendum (unless the governing body of a taxing district to which this Law applied before the 1995 levy year that approved a tax rate increase at a general election held after 2002 directs the county clerk or clerks by resolution to make such adjustment for a lesser number of years) by a factor the numerator of which is the portion of the
new or increased rate for which taxes were not extended plus the aggregate
rate in effect for the levy year prior to the levy year in which the
referendum was passed and the denominator of which is the aggregate rate in
effect for the levy year prior to the levy year in which the referendum
was passed.
``` ```
``` `(Source: P.A. 94-976, eff. 6-30-06.)` ```
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