90th General Assembly
Status of HB3647
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MCGUIRE.

   35 ILCS 200/18-185                                                          

        Amends the Property Tax Extension Limitation Law in the  Property      
   Tax  Code.  Provides  that  in  addition to its current meaning, "debt      
   service extension base" means an amount equal to that portion  of  the      
   extension for any park district for the 1991 levy year constituting an      
   extension for payment of principal and interest on bonds issued by the      
   park   district   without   referendum,  but  not  including  excluded      
   non-referendum bonds, but only for those park districts, (i) that were      
   first subject to this Law in 1991 or 1995, and (ii) either whose            
   lisension for the 1994 levy year, (A) did not include any  amount  for      
   the  payment  of  principal  and  interest  on  bonds  issued  without      
   referendum (but not including excluded non-referendum bonds), or (B)        
   was less than 51% of the amount equal to that portion of the extension      
   for the park district for the 1991 levy year constituting an extension      
   for the payment of principal and interest on bonds issued  by the park      
   district without referendum (but not including excluded non-referendum      
   bonds).   Defines   "excluded   non-referendum   bonds".     Effective      
   immediately.                                                                
   98-02-17  H  FILED WITH CLERK                                               
   98-02-17  H  FIRST READING                                                  
   98-02-17  H  REFERRED TO HOUSE RULES COMMITTEE        RULES                 
   99-01-12  H  SESSION SINE DIE                                               

   END OF INQUIRY 



 Full Text  Bill Summary