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90_HB1514
35 ILCS 200/16-15
Amends the Property Tax Code. Makes a technical change in
the Section concerning adjustments to the prior year's
assessments.
LRB9004719KDcc
LRB9004719KDcc
1 AN ACT to amend the Property Tax Code by changing Section
2 16-15.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Property Tax Code is amended by changing
6 Section 16-15 as follows:
7 (35 ILCS 200/16-15)
8 Sec. 16-15. Adjustments to prior year's assessments.
9 Each county clerk shall compile final adjustments made during
10 the preceding calendar year by the State Property Tax Appeal
11 Board to the aggregate assessed value of a school district
12 for which the such adjustments are greater than $250,000 or
13 2% of the aggregate assessed value of a school district,
14 whichever is less, and report that information to the
15 Department. By July 1 annually, the Department shall
16 transmit the adjusted assessments reported since the prior
17 July 1 to the Illinois State Board of Education for purposes
18 of calculating the amount of State aid to be apportioned to
19 the various school districts under the School Code.
20 (Source: P.A. 86-237; 88-455.)