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Public Act 099-0521


 

Public Act 0521 99TH GENERAL ASSEMBLY



 


 
Public Act 099-0521
 
SB0318 EnrolledLRB099 02944 JLK 22952 b

    AN ACT concerning government.
 
    Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
 
    Section 5. The Property Tax Code is amended by changing
Section 18-185 as follows:
 
    (35 ILCS 200/18-185)
    Sec. 18-185. Short title; definitions. This Division 5 may
be cited as the Property Tax Extension Limitation Law. As used
in this Division 5:
    "Consumer Price Index" means the Consumer Price Index for
All Urban Consumers for all items published by the United
States Department of Labor.
    "Extension limitation" means (a) the lesser of 5% or the
percentage increase in the Consumer Price Index during the
12-month calendar year preceding the levy year or (b) the rate
of increase approved by voters under Section 18-205.
    "Affected county" means a county of 3,000,000 or more
inhabitants or a county contiguous to a county of 3,000,000 or
more inhabitants.
    "Taxing district" has the same meaning provided in Section
1-150, except as otherwise provided in this Section. For the
1991 through 1994 levy years only, "taxing district" includes
only each non-home rule taxing district having the majority of
its 1990 equalized assessed value within any county or counties
contiguous to a county with 3,000,000 or more inhabitants.
Beginning with the 1995 levy year, "taxing district" includes
only each non-home rule taxing district subject to this Law
before the 1995 levy year and each non-home rule taxing
district not subject to this Law before the 1995 levy year
having the majority of its 1994 equalized assessed value in an
affected county or counties. Beginning with the levy year in
which this Law becomes applicable to a taxing district as
provided in Section 18-213, "taxing district" also includes
those taxing districts made subject to this Law as provided in
Section 18-213.
    "Aggregate extension" for taxing districts to which this
Law applied before the 1995 levy year means the annual
corporate extension for the taxing district and those special
purpose extensions that are made annually for the taxing
district, excluding special purpose extensions: (a) made for
the taxing district to pay interest or principal on general
obligation bonds that were approved by referendum; (b) made for
any taxing district to pay interest or principal on general
obligation bonds issued before October 1, 1991; (c) made for
any taxing district to pay interest or principal on bonds
issued to refund or continue to refund those bonds issued
before October 1, 1991; (d) made for any taxing district to pay
interest or principal on bonds issued to refund or continue to
refund bonds issued after October 1, 1991 that were approved by
referendum; (e) made for any taxing district to pay interest or
principal on revenue bonds issued before October 1, 1991 for
payment of which a property tax levy or the full faith and
credit of the unit of local government is pledged; however, a
tax for the payment of interest or principal on those bonds
shall be made only after the governing body of the unit of
local government finds that all other sources for payment are
insufficient to make those payments; (f) made for payments
under a building commission lease when the lease payments are
for the retirement of bonds issued by the commission before
October 1, 1991, to pay for the building project; (g) made for
payments due under installment contracts entered into before
October 1, 1991; (h) made for payments of principal and
interest on bonds issued under the Metropolitan Water
Reclamation District Act to finance construction projects
initiated before October 1, 1991; (i) made for payments of
principal and interest on limited bonds, as defined in Section
3 of the Local Government Debt Reform Act, in an amount not to
exceed the debt service extension base less the amount in items
(b), (c), (e), and (h) of this definition for non-referendum
obligations, except obligations initially issued pursuant to
referendum; (j) made for payments of principal and interest on
bonds issued under Section 15 of the Local Government Debt
Reform Act; (k) made by a school district that participates in
the Special Education District of Lake County, created by
special education joint agreement under Section 10-22.31 of the
School Code, for payment of the school district's share of the
amounts required to be contributed by the Special Education
District of Lake County to the Illinois Municipal Retirement
Fund under Article 7 of the Illinois Pension Code; the amount
of any extension under this item (k) shall be certified by the
school district to the county clerk; (l) made to fund expenses
of providing joint recreational programs for persons with
disabilities under Section 5-8 of the Park District Code or
Section 11-95-14 of the Illinois Municipal Code; (m) made for
temporary relocation loan repayment purposes pursuant to
Sections 2-3.77 and 17-2.2d of the School Code; (n) made for
payment of principal and interest on any bonds issued under the
authority of Section 17-2.2d of the School Code; (o) made for
contributions to a firefighter's pension fund created under
Article 4 of the Illinois Pension Code, to the extent of the
amount certified under item (5) of Section 4-134 of the
Illinois Pension Code; and (p) made for road purposes in the
first year after a township assumes the rights, powers, duties,
assets, property, liabilities, obligations, and
responsibilities of a road district abolished under the
provisions of Section 6-133 of the Illinois Highway Code.
    "Aggregate extension" for the taxing districts to which
this Law did not apply before the 1995 levy year (except taxing
districts subject to this Law in accordance with Section
18-213) means the annual corporate extension for the taxing
district and those special purpose extensions that are made
annually for the taxing district, excluding special purpose
extensions: (a) made for the taxing district to pay interest or
principal on general obligation bonds that were approved by
referendum; (b) made for any taxing district to pay interest or
principal on general obligation bonds issued before March 1,
1995; (c) made for any taxing district to pay interest or
principal on bonds issued to refund or continue to refund those
bonds issued before March 1, 1995; (d) made for any taxing
district to pay interest or principal on bonds issued to refund
or continue to refund bonds issued after March 1, 1995 that
were approved by referendum; (e) made for any taxing district
to pay interest or principal on revenue bonds issued before
March 1, 1995 for payment of which a property tax levy or the
full faith and credit of the unit of local government is
pledged; however, a tax for the payment of interest or
principal on those bonds shall be made only after the governing
body of the unit of local government finds that all other
sources for payment are insufficient to make those payments;
(f) made for payments under a building commission lease when
the lease payments are for the retirement of bonds issued by
the commission before March 1, 1995 to pay for the building
project; (g) made for payments due under installment contracts
entered into before March 1, 1995; (h) made for payments of
principal and interest on bonds issued under the Metropolitan
Water Reclamation District Act to finance construction
projects initiated before October 1, 1991; (h-4) made for
stormwater management purposes by the Metropolitan Water
Reclamation District of Greater Chicago under Section 12 of the
Metropolitan Water Reclamation District Act; (i) made for
payments of principal and interest on limited bonds, as defined
in Section 3 of the Local Government Debt Reform Act, in an
amount not to exceed the debt service extension base less the
amount in items (b), (c), and (e) of this definition for
non-referendum obligations, except obligations initially
issued pursuant to referendum and bonds described in subsection
(h) of this definition; (j) made for payments of principal and
interest on bonds issued under Section 15 of the Local
Government Debt Reform Act; (k) made for payments of principal
and interest on bonds authorized by Public Act 88-503 and
issued under Section 20a of the Chicago Park District Act for
aquarium or museum projects; (l) made for payments of principal
and interest on bonds authorized by Public Act 87-1191 or
93-601 and (i) issued pursuant to Section 21.2 of the Cook
County Forest Preserve District Act, (ii) issued under Section
42 of the Cook County Forest Preserve District Act for
zoological park projects, or (iii) issued under Section 44.1 of
the Cook County Forest Preserve District Act for botanical
gardens projects; (m) made pursuant to Section 34-53.5 of the
School Code, whether levied annually or not; (n) made to fund
expenses of providing joint recreational programs for persons
with disabilities under Section 5-8 of the Park District Code
or Section 11-95-14 of the Illinois Municipal Code; (o) made by
the Chicago Park District for recreational programs for persons
with disabilities under subsection (c) of Section 7.06 of the
Chicago Park District Act; (p) made for contributions to a
firefighter's pension fund created under Article 4 of the
Illinois Pension Code, to the extent of the amount certified
under item (5) of Section 4-134 of the Illinois Pension Code;
and (q) made by Ford Heights School District 169 under Section
17-9.02 of the School Code; and (r) made for the purpose of
making employer contributions to the Public School Teachers'
Pension and Retirement Fund of Chicago under Section 34-53 of
the School Code.
    "Aggregate extension" for all taxing districts to which
this Law applies in accordance with Section 18-213, except for
those taxing districts subject to paragraph (2) of subsection
(e) of Section 18-213, means the annual corporate extension for
the taxing district and those special purpose extensions that
are made annually for the taxing district, excluding special
purpose extensions: (a) made for the taxing district to pay
interest or principal on general obligation bonds that were
approved by referendum; (b) made for any taxing district to pay
interest or principal on general obligation bonds issued before
the date on which the referendum making this Law applicable to
the taxing district is held; (c) made for any taxing district
to pay interest or principal on bonds issued to refund or
continue to refund those bonds issued before the date on which
the referendum making this Law applicable to the taxing
district is held; (d) made for any taxing district to pay
interest or principal on bonds issued to refund or continue to
refund bonds issued after the date on which the referendum
making this Law applicable to the taxing district is held if
the bonds were approved by referendum after the date on which
the referendum making this Law applicable to the taxing
district is held; (e) made for any taxing district to pay
interest or principal on revenue bonds issued before the date
on which the referendum making this Law applicable to the
taxing district is held for payment of which a property tax
levy or the full faith and credit of the unit of local
government is pledged; however, a tax for the payment of
interest or principal on those bonds shall be made only after
the governing body of the unit of local government finds that
all other sources for payment are insufficient to make those
payments; (f) made for payments under a building commission
lease when the lease payments are for the retirement of bonds
issued by the commission before the date on which the
referendum making this Law applicable to the taxing district is
held to pay for the building project; (g) made for payments due
under installment contracts entered into before the date on
which the referendum making this Law applicable to the taxing
district is held; (h) made for payments of principal and
interest on limited bonds, as defined in Section 3 of the Local
Government Debt Reform Act, in an amount not to exceed the debt
service extension base less the amount in items (b), (c), and
(e) of this definition for non-referendum obligations, except
obligations initially issued pursuant to referendum; (i) made
for payments of principal and interest on bonds issued under
Section 15 of the Local Government Debt Reform Act; (j) made
for a qualified airport authority to pay interest or principal
on general obligation bonds issued for the purpose of paying
obligations due under, or financing airport facilities
required to be acquired, constructed, installed or equipped
pursuant to, contracts entered into before March 1, 1996 (but
not including any amendments to such a contract taking effect
on or after that date); (k) made to fund expenses of providing
joint recreational programs for persons with disabilities
under Section 5-8 of the Park District Code or Section 11-95-14
of the Illinois Municipal Code; (l) made for contributions to a
firefighter's pension fund created under Article 4 of the
Illinois Pension Code, to the extent of the amount certified
under item (5) of Section 4-134 of the Illinois Pension Code;
and (m) made for the taxing district to pay interest or
principal on general obligation bonds issued pursuant to
Section 19-3.10 of the School Code.
    "Aggregate extension" for all taxing districts to which
this Law applies in accordance with paragraph (2) of subsection
(e) of Section 18-213 means the annual corporate extension for
the taxing district and those special purpose extensions that
are made annually for the taxing district, excluding special
purpose extensions: (a) made for the taxing district to pay
interest or principal on general obligation bonds that were
approved by referendum; (b) made for any taxing district to pay
interest or principal on general obligation bonds issued before
the effective date of this amendatory Act of 1997; (c) made for
any taxing district to pay interest or principal on bonds
issued to refund or continue to refund those bonds issued
before the effective date of this amendatory Act of 1997; (d)
made for any taxing district to pay interest or principal on
bonds issued to refund or continue to refund bonds issued after
the effective date of this amendatory Act of 1997 if the bonds
were approved by referendum after the effective date of this
amendatory Act of 1997; (e) made for any taxing district to pay
interest or principal on revenue bonds issued before the
effective date of this amendatory Act of 1997 for payment of
which a property tax levy or the full faith and credit of the
unit of local government is pledged; however, a tax for the
payment of interest or principal on those bonds shall be made
only after the governing body of the unit of local government
finds that all other sources for payment are insufficient to
make those payments; (f) made for payments under a building
commission lease when the lease payments are for the retirement
of bonds issued by the commission before the effective date of
this amendatory Act of 1997 to pay for the building project;
(g) made for payments due under installment contracts entered
into before the effective date of this amendatory Act of 1997;
(h) made for payments of principal and interest on limited
bonds, as defined in Section 3 of the Local Government Debt
Reform Act, in an amount not to exceed the debt service
extension base less the amount in items (b), (c), and (e) of
this definition for non-referendum obligations, except
obligations initially issued pursuant to referendum; (i) made
for payments of principal and interest on bonds issued under
Section 15 of the Local Government Debt Reform Act; (j) made
for a qualified airport authority to pay interest or principal
on general obligation bonds issued for the purpose of paying
obligations due under, or financing airport facilities
required to be acquired, constructed, installed or equipped
pursuant to, contracts entered into before March 1, 1996 (but
not including any amendments to such a contract taking effect
on or after that date); (k) made to fund expenses of providing
joint recreational programs for persons with disabilities
under Section 5-8 of the Park District Code or Section 11-95-14
of the Illinois Municipal Code; and (l) made for contributions
to a firefighter's pension fund created under Article 4 of the
Illinois Pension Code, to the extent of the amount certified
under item (5) of Section 4-134 of the Illinois Pension Code.
    "Debt service extension base" means an amount equal to that
portion of the extension for a taxing district for the 1994
levy year, or for those taxing districts subject to this Law in
accordance with Section 18-213, except for those subject to
paragraph (2) of subsection (e) of Section 18-213, for the levy
year in which the referendum making this Law applicable to the
taxing district is held, or for those taxing districts subject
to this Law in accordance with paragraph (2) of subsection (e)
of Section 18-213 for the 1996 levy year, constituting an
extension for payment of principal and interest on bonds issued
by the taxing district without referendum, but not including
excluded non-referendum bonds. For park districts (i) that were
first subject to this Law in 1991 or 1995 and (ii) whose
extension for the 1994 levy year for the payment of principal
and interest on bonds issued by the park district without
referendum (but not including excluded non-referendum bonds)
was less than 51% of the amount 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), "debt service
extension base" means an amount equal to that portion of the
extension 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). A debt service extension base
established or increased at any time pursuant to any provision
of this Law, except Section 18-212, shall be increased each
year commencing with the later of (i) the 2009 levy year or
(ii) the first levy year in which this Law becomes applicable
to the taxing district, by the lesser of 5% or the percentage
increase in the Consumer Price Index during the 12-month
calendar year preceding the levy year. The debt service
extension base may be established or increased as provided
under Section 18-212. "Excluded non-referendum bonds" means
(i) bonds authorized by Public Act 88-503 and issued under
Section 20a of the Chicago Park District Act for aquarium and
museum projects; (ii) bonds issued under Section 15 of the
Local Government Debt Reform Act; or (iii) refunding
obligations issued to refund or to continue to refund
obligations initially issued pursuant to referendum.
    "Special purpose extensions" include, but are not limited
to, extensions for levies made on an annual basis for
unemployment and workers' compensation, self-insurance,
contributions to pension plans, and extensions made pursuant to
Section 6-601 of the Illinois Highway Code for a road
district's permanent road fund whether levied annually or not.
The extension for a special service area is not included in the
aggregate extension.
    "Aggregate extension base" means the taxing district's
last preceding aggregate extension as adjusted under Sections
18-135, 18-215, and 18-230. An adjustment under Section 18-135
shall be made for the 2007 levy year and all subsequent levy
years whenever one or more counties within which a taxing
district is located (i) used estimated valuations or rates when
extending taxes in the taxing district for the last preceding
levy year that resulted in the over or under extension of
taxes, or (ii) increased or decreased the tax extension for the
last preceding levy year as required by Section 18-135(c).
Whenever an adjustment is required under Section 18-135, the
aggregate extension base of the taxing district shall be equal
to the amount that the aggregate extension of the taxing
district would have been for the last preceding levy year if
either or both (i) actual, rather than estimated, valuations or
rates had been used to calculate the extension of taxes for the
last levy year, or (ii) the tax extension for the last
preceding levy year had not been adjusted as required by
subsection (c) of Section 18-135.
    Notwithstanding any other provision of law, for levy year
2012, the aggregate extension base for West Northfield School
District No. 31 in Cook County shall be $12,654,592.
    "Levy year" has the same meaning as "year" under Section
1-155.
    "New property" means (i) the assessed value, after final
board of review or board of appeals action, of new improvements
or additions to existing improvements on any parcel of real
property that increase the assessed value of that real property
during the levy year multiplied by the equalization factor
issued by the Department under Section 17-30, (ii) the assessed
value, after final board of review or board of appeals action,
of real property not exempt from real estate taxation, which
real property was exempt from real estate taxation for any
portion of the immediately preceding levy year, multiplied by
the equalization factor issued by the Department under Section
17-30, including the assessed value, upon final stabilization
of occupancy after new construction is complete, of any real
property located within the boundaries of an otherwise or
previously exempt military reservation that is intended for
residential use and owned by or leased to a private corporation
or other entity, (iii) in counties that classify in accordance
with Section 4 of Article IX of the Illinois Constitution, an
incentive property's additional assessed value resulting from
a scheduled increase in the level of assessment as applied to
the first year final board of review market value, and (iv) any
increase in assessed value due to oil or gas production from an
oil or gas well required to be permitted under the Hydraulic
Fracturing Regulatory Act that was not produced in or accounted
for during the previous levy year. In addition, the county
clerk in a county containing a population of 3,000,000 or more
shall include in the 1997 recovered tax increment value for any
school district, any recovered tax increment value that was
applicable to the 1995 tax year calculations.
    "Qualified airport authority" means an airport authority
organized under the Airport Authorities Act and located in a
county bordering on the State of Wisconsin and having a
population in excess of 200,000 and not greater than 500,000.
    "Recovered tax increment value" means, except as otherwise
provided in this paragraph, the amount of the current year's
equalized assessed value, in the first year after a
municipality terminates the designation of an area as a
redevelopment project area previously established under the
Tax Increment Allocation Development Act in the Illinois
Municipal Code, previously established under the Industrial
Jobs Recovery Law in the Illinois Municipal Code, previously
established under the Economic Development Project Area Tax
Increment Act of 1995, or previously established under the
Economic Development Area Tax Increment Allocation Act, of each
taxable lot, block, tract, or parcel of real property in the
redevelopment project area over and above the initial equalized
assessed value of each property in the redevelopment project
area. For the taxes which are extended for the 1997 levy year,
the recovered tax increment value for a non-home rule taxing
district that first became subject to this Law for the 1995
levy year because a majority of its 1994 equalized assessed
value was in an affected county or counties shall be increased
if a municipality terminated the designation of an area in 1993
as a redevelopment project area previously established under
the Tax Increment Allocation Development Act in the Illinois
Municipal Code, previously established under the Industrial
Jobs Recovery Law in the Illinois Municipal Code, or previously
established under the Economic Development Area Tax Increment
Allocation Act, by an amount equal to the 1994 equalized
assessed value of each taxable lot, block, tract, or parcel of
real property in the redevelopment project area over and above
the initial equalized assessed value of each property in the
redevelopment project area. In the first year after a
municipality removes a taxable lot, block, tract, or parcel of
real property from a redevelopment project area established
under the Tax Increment Allocation Development Act in the
Illinois Municipal Code, the Industrial Jobs Recovery Law in
the Illinois Municipal Code, or the Economic Development Area
Tax Increment Allocation Act, "recovered tax increment value"
means the amount of the current year's equalized assessed value
of each taxable lot, block, tract, or parcel of real property
removed from the redevelopment project area over and above the
initial equalized assessed value of that real property before
removal from the redevelopment project area.
    Except as otherwise provided in this Section, "limiting
rate" means a fraction the numerator of which is the last
preceding aggregate extension base times an amount equal to one
plus the extension limitation defined in this Section and the
denominator of which is the current year's equalized assessed
value of all real property in the territory under the
jurisdiction of the taxing district during the prior levy year.
For those taxing districts that reduced their aggregate
extension for the last preceding levy year, the highest
aggregate extension in any of the last 3 preceding levy years
shall be used for the purpose of computing the limiting rate.
The denominator shall not include new property or the recovered
tax increment value. If a new rate, a rate decrease, or a
limiting rate increase has been approved at an election held
after March 21, 2006, then (i) the otherwise applicable
limiting rate shall be increased by the amount of the new rate
or shall be reduced by the amount of the rate decrease, as the
case may be, or (ii) in the case of a limiting rate increase,
the limiting rate shall be equal to the rate set forth in the
proposition approved by the voters for each of the years
specified in the proposition, after which the limiting rate of
the taxing district shall be calculated as otherwise provided.
In the case of a taxing district that obtained referendum
approval for an increased limiting rate on March 20, 2012, the
limiting rate for tax year 2012 shall be the rate that
generates the approximate total amount of taxes extendable for
that tax year, as set forth in the proposition approved by the
voters; this rate shall be the final rate applied by the county
clerk for the aggregate of all capped funds of the district for
tax year 2012.
(Source: P.A. 98-6, eff. 3-29-13; 98-23, eff. 6-17-13; 99-143,
eff. 7-27-15.)
 
    Section 10. The School Code is amended by changing Section
34-53 as follows:
 
    (105 ILCS 5/34-53)  (from Ch. 122, par. 34-53)
    Sec. 34-53. Tax levies; Purpose; Rates. For the purpose of
establishing and supporting free schools for not fewer than 9
months in each year and defraying their expenses the board may
levy annually, upon all taxable property of such district for
educational purposes a tax for the fiscal years 1996 and each
succeeding fiscal year at a rate of not to exceed the sum of
(i) 3.07% (or such other rate as may be set by law independent
of the rate difference described in (ii) below) and (ii) the
difference between .50% and the rate per cent of taxes extended
for a School Finance Authority organized under Article 34A of
the School Code, for the calendar year in which the applicable
fiscal year of the board begins as determined by the county
clerk and certified to the board pursuant to Section 18-110 of
the Property Tax Code, of the value as equalized or assessed by
the Department of Revenue for the year in which such levy is
made.
    Beginning on the effective date of this amendatory Act of
the 99th General Assembly, for the purpose of making an
employer contribution to the Public School Teachers' Pension
and Retirement Fund of Chicago, the board may levy annually,
upon all taxable property located within the district, a tax at
a rate not to exceed 0.383%. The proceeds from this additional
tax shall be paid, as soon as possible after collection,
directly to Public School Teachers' Pension and Retirement Fund
of Chicago and not to the Board of Education. The rate under
this paragraph is not a new rate for the purposes of the
Property Tax Extension Limitation Law. Notwithstanding any
other provision of law, for the 2016 tax year only, the board
shall certify the rate to the county clerk on the effective
date of this amendatory Act of the 99th General Assembly, and
the county clerk shall extend that rate against all taxable
property located within the district as soon after receiving
the certification as possible.
     Nothing in this amendatory Act of 1995 shall in any way
impair or restrict the levy or extension of taxes pursuant to
any tax levies for any purposes of the board lawfully made
prior to the adoption of this amendatory Act of 1995.
    Notwithstanding any other provision of this Code and in
addition to any other methods provided for increasing the tax
rate the board may, by proper resolution, cause a proposition
to increase the annual tax rate for educational purposes to be
submitted to the voters of such district at any general or
special election. The maximum rate for educational purposes
shall not exceed 4.00%. The election called for such purpose
shall be governed by Article 9 of this Act. If at such election
a majority of the votes cast on the proposition is in favor
thereof, the Board of Education may thereafter until such
authority is revoked in a like manner, levy annually the tax so
authorized.
    For purposes of this Article, educational purposes for
fiscal years beginning in 1995 and each subsequent year shall
also include, but not be limited to, in addition to those
purposes authorized before this amendatory Act of 1995,
constructing, acquiring, leasing (other than from the Public
Building Commission of Chicago), operating, maintaining,
improving, repairing, and renovating land, buildings,
furnishings, and equipment for school houses and buildings, and
related incidental expenses, and provision of special
education, furnishing free textbooks and instructional aids
and school supplies, establishing, equipping, maintaining, and
operating supervised playgrounds under the control of the
board, school extracurricular activities, and stadia, social
center, and summer swimming pool programs open to the public in
connection with any public school; making an employer
contribution to the Public School Teachers' Pension and
Retirement Fund as required by Section 17-129 of the Illinois
Pension Code; and providing an agricultural science school,
including site development and improvements, maintenance
repairs, and supplies. Educational purposes also includes
student transportation expenses.
    All collections of all taxes levied for fiscal years ending
before 1996 under this Section or under Sections 34-53.2,
34-53.3, 34-58, 34-60, or 34-62 of this Article as in effect
prior to this amendatory Act of 1995 may be used for any
educational purposes as defined by this amendatory Act of 1995
and need not be used for the particular purposes for which they
were levied. The levy and extension of taxes pursuant to this
Section as amended by this amendatory Act of 1995 shall not
constitute a new or increased tax rate within the meaning of
the Property Tax Extension Limitation Law or the One-year
Property Tax Extension Limitation Law.
    The rate at which taxes may be levied for the fiscal year
beginning September 1, 1996, for educational purposes shall be
the full rate authorized by this Section for such taxes for
fiscal years ending after 1995.
(Source: P.A. 88-511; 88-670, eff. 12-2-94; 89-15, eff.
5-30-95.)

Effective Date: 6/1/2017