PROP TAX-TAX CAPS-NEW PROPERTY Senate SponsorsSen. Christine Radogno-Louis S. Viverito-Mattie Hunter-Martin A. Sandoval House Sponsors(Rep. Robert S. Molaro) 11/25/2003SenatePublic Act . . . . . . . . . 93-0606 35 ILCS 200/18-185Amends the Property Tax Extension Limitation Law in the Property Tax Code. Provides that "new property" means, for real property in Cook County classified as property eligible for property tax incentives (any of Classes 6 through 9) or that was so classified in the immediately preceding levy year, any increase in the assessed value of that property for the levy year attributable to a reduction or the elimination of the incentive. Effective immediately.Senate Committee Amendment No. 1 Replaces the definition of "new property" with respect to certain incentive property with a provision saying that, in addition to its other meanings, "new property" means, 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. 2/18/2003SenateFiled with Secretary by Sen. Christine Radogno 2/18/2003SenateFirst Reading 2/18/2003SenateReferred to Rules 2/26/2003SenateAssigned to Revenue 3/5/2003SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Christine Radogno 3/5/2003SenateSenate Committee Amendment No. 1 Referred to Rules 3/5/2003SenateSenate Committee Amendment No. 1 Rules Refers to Revenue 3/5/2003SenateSenate Committee Amendment No. 1 Adopted 3/6/2003SenateDo Pass as Amended Revenue; 008-000-000 3/6/2003SenatePlaced on Calendar Order of 2nd Reading March 11, 2003 3/13/2003SenateAdded as Chief Co-Sponsor Sen. Louis S. Viverito 3/13/2003SenateSecond Reading 3/13/2003SenatePlaced on Calendar Order of 3rd Reading March 18, 2003 3/20/2003SenateThird Reading - Passed; 056-000-000 3/20/2003HouseArrived in House 3/20/2003HousePlaced on Calendar Order of First Reading 3/20/2003HouseChief House Sponsor Rep. Robert S. Molaro 3/20/2003HouseFirst Reading 3/20/2003HouseReferred to Rules Committee 3/31/2003HouseAssigned to Revenue Committee 4/16/2003HouseDo Pass / Short Debate Revenue Committee; 008-000-000 4/16/2003HousePlaced on Calendar 2nd Reading - Short Debate 5/13/2003HouseSecond Reading - Short Debate 5/13/2003HousePlaced on Calendar Order of 3rd Reading - Short Debate 5/14/2003HouseThird Reading - Short Debate - Passed 081-034-001 5/14/2003SenatePassed Both Houses 6/12/2003SenateSent to the Governor 8/11/2003SenateGovernor Vetoed 10/23/2003SenatePlaced Calendar Total Veto November 4, 2003 11/4/2003SenateMotion Filed Override Governor Veto Sen. Christine Radogno 11/4/2003SenateAdded as Chief Co-Sponsor Sen. Mattie Hunter 11/4/2003SenateAdded as Chief Co-Sponsor Sen. Martin A. Sandoval 11/4/2003Senate3/5 Vote Required 11/4/2003SenateOverride Governor Veto - Senate Passed 050-005-001 11/6/2003HousePlaced on Calendar Total Veto November 18, 2003 11/6/2003HouseMotion Filed Override Governor Veto Rep. Robert S. Molaro 11/18/2003House3/5 Vote Required 11/18/2003HouseOverride Governor Veto - House Passed 076-038-001 11/18/2003SenateBoth Houses Override Total Veto 11/25/2003SenateEffective Date November 18, 2003 11/25/2003SenatePublic Act . . . . . . . . . 93-0606