100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018
HB0824

 

Introduced , by Rep. Allen Skillicorn

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 200/18-185
35 ILCS 200/18-205

    Amends the Property Tax Extension Limitation Law in the Property Tax Code. Provides that if (i) the total equalized assessed value of all taxable property in the taxing district for the current levy year is less than the total equalized assessed value of all taxable property in the taxing district for the previous levy year, or (ii) the median equalized assessed value of all taxable property in the taxing district for the current levy year and the 2 levy years immediately preceding the current levy year is less than the median equalized assessed value of all taxable property in the taxing district for the 3 levy years immediately preceding that 3-year period, then the extension limitation is (a) 0% or (b) the rate of increase approved by voters (instead of the lesser of 5% or the percentage increase in the Consumer Price Index during the 12-month calendar year preceding the levy year or the rate of increase approved by the voters). Effective immediately.


LRB100 07847 HLH 17916 b

FISCAL NOTE ACT MAY APPLY
HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB0824LRB100 07847 HLH 17916 b

1    AN ACT concerning revenue.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Property Tax Code is amended by changing
5Sections 18-185 and 18-205 as follows:
 
6    (35 ILCS 200/18-185)
7    (Text of Section before amendment by P.A. 99-521)
8    Sec. 18-185. Short title; definitions. This Division 5 may
9be cited as the Property Tax Extension Limitation Law. As used
10in this Division 5:
11    "Consumer Price Index" means the Consumer Price Index for
12All Urban Consumers for all items published by the United
13States Department of Labor.
14    "Extension limitation" means (a) the lesser of 5% or the
15percentage increase in the Consumer Price Index during the
1612-month calendar year preceding the levy year or (b) the rate
17of increase approved by voters under Section 18-205.
18Notwithstanding any other provision of law, if (i) the total
19equalized assessed value of all taxable property in the taxing
20district for the current levy year is less than the total
21equalized assessed value of all taxable property in the taxing
22district for the previous levy year, or (ii) the median
23equalized assessed value of all taxable property in the taxing

 

 

HB0824- 2 -LRB100 07847 HLH 17916 b

1district for the current levy year and the 2 levy years
2immediately preceding the current levy year is less than the
3median equalized assessed value of all taxable property in the
4taxing district for the 3 levy years immediately preceding that
53-year period, then the extension limitation is (a) 0% or (b)
6the rate of increase approved by voters under Section 18-205.
7For the purposes of this paragraph, "equalized assessed value"
8does not include new property, recovered tax increment value,
9or property that is annexed to or disconnected from the taxing
10district in the applicable levy year.
11    "Affected county" means a county of 3,000,000 or more
12inhabitants or a county contiguous to a county of 3,000,000 or
13more inhabitants.
14    "Taxing district" has the same meaning provided in Section
151-150, except as otherwise provided in this Section. For the
161991 through 1994 levy years only, "taxing district" includes
17only each non-home rule taxing district having the majority of
18its 1990 equalized assessed value within any county or counties
19contiguous to a county with 3,000,000 or more inhabitants.
20Beginning with the 1995 levy year, "taxing district" includes
21only each non-home rule taxing district subject to this Law
22before the 1995 levy year and each non-home rule taxing
23district not subject to this Law before the 1995 levy year
24having the majority of its 1994 equalized assessed value in an
25affected county or counties. Beginning with the levy year in
26which this Law becomes applicable to a taxing district as

 

 

HB0824- 3 -LRB100 07847 HLH 17916 b

1provided in Section 18-213, "taxing district" also includes
2those taxing districts made subject to this Law as provided in
3Section 18-213.
4    "Aggregate extension" for taxing districts to which this
5Law applied before the 1995 levy year means the annual
6corporate extension for the taxing district and those special
7purpose extensions that are made annually for the taxing
8district, excluding special purpose extensions: (a) made for
9the taxing district to pay interest or principal on general
10obligation bonds that were approved by referendum; (b) made for
11any taxing district to pay interest or principal on general
12obligation bonds issued before October 1, 1991; (c) made for
13any taxing district to pay interest or principal on bonds
14issued to refund or continue to refund those bonds issued
15before October 1, 1991; (d) made for any taxing district to pay
16interest or principal on bonds issued to refund or continue to
17refund bonds issued after October 1, 1991 that were approved by
18referendum; (e) made for any taxing district to pay interest or
19principal on revenue bonds issued before October 1, 1991 for
20payment of which a property tax levy or the full faith and
21credit of the unit of local government is pledged; however, a
22tax for the payment of interest or principal on those bonds
23shall be made only after the governing body of the unit of
24local government finds that all other sources for payment are
25insufficient to make those payments; (f) made for payments
26under a building commission lease when the lease payments are

 

 

HB0824- 4 -LRB100 07847 HLH 17916 b

1for the retirement of bonds issued by the commission before
2October 1, 1991, to pay for the building project; (g) made for
3payments due under installment contracts entered into before
4October 1, 1991; (h) made for payments of principal and
5interest on bonds issued under the Metropolitan Water
6Reclamation District Act to finance construction projects
7initiated before October 1, 1991; (i) made for payments of
8principal and interest on limited bonds, as defined in Section
93 of the Local Government Debt Reform Act, in an amount not to
10exceed the debt service extension base less the amount in items
11(b), (c), (e), and (h) of this definition for non-referendum
12obligations, except obligations initially issued pursuant to
13referendum; (j) made for payments of principal and interest on
14bonds issued under Section 15 of the Local Government Debt
15Reform Act; (k) made by a school district that participates in
16the Special Education District of Lake County, created by
17special education joint agreement under Section 10-22.31 of the
18School Code, for payment of the school district's share of the
19amounts required to be contributed by the Special Education
20District of Lake County to the Illinois Municipal Retirement
21Fund under Article 7 of the Illinois Pension Code; the amount
22of any extension under this item (k) shall be certified by the
23school district to the county clerk; (l) made to fund expenses
24of providing joint recreational programs for persons with
25disabilities under Section 5-8 of the Park District Code or
26Section 11-95-14 of the Illinois Municipal Code; (m) made for

 

 

HB0824- 5 -LRB100 07847 HLH 17916 b

1temporary relocation loan repayment purposes pursuant to
2Sections 2-3.77 and 17-2.2d of the School Code; (n) made for
3payment of principal and interest on any bonds issued under the
4authority of Section 17-2.2d of the School Code; (o) made for
5contributions to a firefighter's pension fund created under
6Article 4 of the Illinois Pension Code, to the extent of the
7amount certified under item (5) of Section 4-134 of the
8Illinois Pension Code; and (p) made for road purposes in the
9first year after a township assumes the rights, powers, duties,
10assets, property, liabilities, obligations, and
11responsibilities of a road district abolished under the
12provisions of Section 6-133 of the Illinois Highway Code.
13    "Aggregate extension" for the taxing districts to which
14this Law did not apply before the 1995 levy year (except taxing
15districts subject to this Law in accordance with Section
1618-213) means the annual corporate extension for the taxing
17district and those special purpose extensions that are made
18annually for the taxing district, excluding special purpose
19extensions: (a) made for the taxing district to pay interest or
20principal on general obligation bonds that were approved by
21referendum; (b) made for any taxing district to pay interest or
22principal on general obligation bonds issued before March 1,
231995; (c) made for any taxing district to pay interest or
24principal on bonds issued to refund or continue to refund those
25bonds issued before March 1, 1995; (d) made for any taxing
26district to pay interest or principal on bonds issued to refund

 

 

HB0824- 6 -LRB100 07847 HLH 17916 b

1or continue to refund bonds issued after March 1, 1995 that
2were approved by referendum; (e) made for any taxing district
3to pay interest or principal on revenue bonds issued before
4March 1, 1995 for payment of which a property tax levy or the
5full faith and credit of the unit of local government is
6pledged; however, a tax for the payment of interest or
7principal on those bonds shall be made only after the governing
8body of the unit of local government finds that all other
9sources for payment are insufficient to make those payments;
10(f) made for payments under a building commission lease when
11the lease payments are for the retirement of bonds issued by
12the commission before March 1, 1995 to pay for the building
13project; (g) made for payments due under installment contracts
14entered into before March 1, 1995; (h) made for payments of
15principal and interest on bonds issued under the Metropolitan
16Water Reclamation District Act to finance construction
17projects initiated before October 1, 1991; (h-4) made for
18stormwater management purposes by the Metropolitan Water
19Reclamation District of Greater Chicago under Section 12 of the
20Metropolitan Water Reclamation District Act; (i) made for
21payments of principal and interest on limited bonds, as defined
22in Section 3 of the Local Government Debt Reform Act, in an
23amount not to exceed the debt service extension base less the
24amount in items (b), (c), and (e) of this definition for
25non-referendum obligations, except obligations initially
26issued pursuant to referendum and bonds described in subsection

 

 

HB0824- 7 -LRB100 07847 HLH 17916 b

1(h) of this definition; (j) made for payments of principal and
2interest on bonds issued under Section 15 of the Local
3Government Debt Reform Act; (k) made for payments of principal
4and interest on bonds authorized by Public Act 88-503 and
5issued under Section 20a of the Chicago Park District Act for
6aquarium or museum projects; (l) made for payments of principal
7and interest on bonds authorized by Public Act 87-1191 or
893-601 and (i) issued pursuant to Section 21.2 of the Cook
9County Forest Preserve District Act, (ii) issued under Section
1042 of the Cook County Forest Preserve District Act for
11zoological park projects, or (iii) issued under Section 44.1 of
12the Cook County Forest Preserve District Act for botanical
13gardens projects; (m) made pursuant to Section 34-53.5 of the
14School Code, whether levied annually or not; (n) made to fund
15expenses of providing joint recreational programs for persons
16with disabilities under Section 5-8 of the Park District Code
17or Section 11-95-14 of the Illinois Municipal Code; (o) made by
18the Chicago Park District for recreational programs for persons
19with disabilities under subsection (c) of Section 7.06 of the
20Chicago Park District Act; (p) made for contributions to a
21firefighter's pension fund created under Article 4 of the
22Illinois Pension Code, to the extent of the amount certified
23under item (5) of Section 4-134 of the Illinois Pension Code;
24and (q) made by Ford Heights School District 169 under Section
2517-9.02 of the School Code.
26    "Aggregate extension" for all taxing districts to which

 

 

HB0824- 8 -LRB100 07847 HLH 17916 b

1this Law applies in accordance with Section 18-213, except for
2those taxing districts subject to paragraph (2) of subsection
3(e) of Section 18-213, means the annual corporate extension for
4the taxing district and those special purpose extensions that
5are made annually for the taxing district, excluding special
6purpose extensions: (a) made for the taxing district to pay
7interest or principal on general obligation bonds that were
8approved by referendum; (b) made for any taxing district to pay
9interest or principal on general obligation bonds issued before
10the date on which the referendum making this Law applicable to
11the taxing district is held; (c) made for any taxing district
12to pay interest or principal on bonds issued to refund or
13continue to refund those bonds issued before the date on which
14the referendum making this Law applicable to the taxing
15district is held; (d) made for any taxing district to pay
16interest or principal on bonds issued to refund or continue to
17refund bonds issued after the date on which the referendum
18making this Law applicable to the taxing district is held if
19the bonds were approved by referendum after the date on which
20the referendum making this Law applicable to the taxing
21district is held; (e) made for any taxing district to pay
22interest or principal on revenue bonds issued before the date
23on which the referendum making this Law applicable to the
24taxing district is held for payment of which a property tax
25levy or the full faith and credit of the unit of local
26government is pledged; however, a tax for the payment of

 

 

HB0824- 9 -LRB100 07847 HLH 17916 b

1interest or principal on those bonds shall be made only after
2the governing body of the unit of local government finds that
3all other sources for payment are insufficient to make those
4payments; (f) made for payments under a building commission
5lease when the lease payments are for the retirement of bonds
6issued by the commission before the date on which the
7referendum making this Law applicable to the taxing district is
8held to pay for the building project; (g) made for payments due
9under installment contracts entered into before the date on
10which the referendum making this Law applicable to the taxing
11district is held; (h) made for payments of principal and
12interest on limited bonds, as defined in Section 3 of the Local
13Government Debt Reform Act, in an amount not to exceed the debt
14service extension base less the amount in items (b), (c), and
15(e) of this definition for non-referendum obligations, except
16obligations initially issued pursuant to referendum; (i) made
17for payments of principal and interest on bonds issued under
18Section 15 of the Local Government Debt Reform Act; (j) made
19for a qualified airport authority to pay interest or principal
20on general obligation bonds issued for the purpose of paying
21obligations due under, or financing airport facilities
22required to be acquired, constructed, installed or equipped
23pursuant to, contracts entered into before March 1, 1996 (but
24not including any amendments to such a contract taking effect
25on or after that date); (k) made to fund expenses of providing
26joint recreational programs for persons with disabilities

 

 

HB0824- 10 -LRB100 07847 HLH 17916 b

1under Section 5-8 of the Park District Code or Section 11-95-14
2of the Illinois Municipal Code; (l) made for contributions to a
3firefighter's pension fund created under Article 4 of the
4Illinois Pension Code, to the extent of the amount certified
5under item (5) of Section 4-134 of the Illinois Pension Code;
6and (m) made for the taxing district to pay interest or
7principal on general obligation bonds issued pursuant to
8Section 19-3.10 of the School Code.
9    "Aggregate extension" for all taxing districts to which
10this Law applies in accordance with paragraph (2) of subsection
11(e) of Section 18-213 means the annual corporate extension for
12the taxing district and those special purpose extensions that
13are made annually for the taxing district, excluding special
14purpose extensions: (a) made for the taxing district to pay
15interest or principal on general obligation bonds that were
16approved by referendum; (b) made for any taxing district to pay
17interest or principal on general obligation bonds issued before
18the effective date of this amendatory Act of 1997; (c) made for
19any taxing district to pay interest or principal on bonds
20issued to refund or continue to refund those bonds issued
21before the effective date of this amendatory Act of 1997; (d)
22made for any taxing district to pay interest or principal on
23bonds issued to refund or continue to refund bonds issued after
24the effective date of this amendatory Act of 1997 if the bonds
25were approved by referendum after the effective date of this
26amendatory Act of 1997; (e) made for any taxing district to pay

 

 

HB0824- 11 -LRB100 07847 HLH 17916 b

1interest or principal on revenue bonds issued before the
2effective date of this amendatory Act of 1997 for payment of
3which a property tax levy or the full faith and credit of the
4unit of local government is pledged; however, a tax for the
5payment of interest or principal on those bonds shall be made
6only after the governing body of the unit of local government
7finds that all other sources for payment are insufficient to
8make those payments; (f) made for payments under a building
9commission lease when the lease payments are for the retirement
10of bonds issued by the commission before the effective date of
11this amendatory Act of 1997 to pay for the building project;
12(g) made for payments due under installment contracts entered
13into before the effective date of this amendatory Act of 1997;
14(h) made for payments of principal and interest on limited
15bonds, as defined in Section 3 of the Local Government Debt
16Reform Act, in an amount not to exceed the debt service
17extension base less the amount in items (b), (c), and (e) of
18this definition for non-referendum obligations, except
19obligations initially issued pursuant to referendum; (i) made
20for payments of principal and interest on bonds issued under
21Section 15 of the Local Government Debt Reform Act; (j) made
22for a qualified airport authority to pay interest or principal
23on general obligation bonds issued for the purpose of paying
24obligations due under, or financing airport facilities
25required to be acquired, constructed, installed or equipped
26pursuant to, contracts entered into before March 1, 1996 (but

 

 

HB0824- 12 -LRB100 07847 HLH 17916 b

1not including any amendments to such a contract taking effect
2on or after that date); (k) made to fund expenses of providing
3joint recreational programs for persons with disabilities
4under Section 5-8 of the Park District Code or Section 11-95-14
5of the Illinois Municipal Code; and (l) made for contributions
6to a firefighter's pension fund created under Article 4 of the
7Illinois Pension Code, to the extent of the amount certified
8under item (5) of Section 4-134 of the Illinois Pension Code.
9    "Debt service extension base" means an amount equal to that
10portion of the extension for a taxing district for the 1994
11levy year, or for those taxing districts subject to this Law in
12accordance with Section 18-213, except for those subject to
13paragraph (2) of subsection (e) of Section 18-213, for the levy
14year in which the referendum making this Law applicable to the
15taxing district is held, or for those taxing districts subject
16to this Law in accordance with paragraph (2) of subsection (e)
17of Section 18-213 for the 1996 levy year, constituting an
18extension for payment of principal and interest on bonds issued
19by the taxing district without referendum, but not including
20excluded non-referendum bonds. For park districts (i) that were
21first subject to this Law in 1991 or 1995 and (ii) whose
22extension for the 1994 levy year for the payment of principal
23and interest on bonds issued by the park district without
24referendum (but not including excluded non-referendum bonds)
25was less than 51% of the amount for the 1991 levy year
26constituting an extension for payment of principal and interest

 

 

HB0824- 13 -LRB100 07847 HLH 17916 b

1on bonds issued by the park district without referendum (but
2not including excluded non-referendum bonds), "debt service
3extension base" means an amount equal to that portion of the
4extension for the 1991 levy year constituting an extension for
5payment of principal and interest on bonds issued by the park
6district without referendum (but not including excluded
7non-referendum bonds). A debt service extension base
8established or increased at any time pursuant to any provision
9of this Law, except Section 18-212, shall be increased each
10year commencing with the later of (i) the 2009 levy year or
11(ii) the first levy year in which this Law becomes applicable
12to the taxing district, by the lesser of 5% or the percentage
13increase in the Consumer Price Index during the 12-month
14calendar year preceding the levy year. The debt service
15extension base may be established or increased as provided
16under Section 18-212. "Excluded non-referendum bonds" means
17(i) bonds authorized by Public Act 88-503 and issued under
18Section 20a of the Chicago Park District Act for aquarium and
19museum projects; (ii) bonds issued under Section 15 of the
20Local Government Debt Reform Act; or (iii) refunding
21obligations issued to refund or to continue to refund
22obligations initially issued pursuant to referendum.
23    "Special purpose extensions" include, but are not limited
24to, extensions for levies made on an annual basis for
25unemployment and workers' compensation, self-insurance,
26contributions to pension plans, and extensions made pursuant to

 

 

HB0824- 14 -LRB100 07847 HLH 17916 b

1Section 6-601 of the Illinois Highway Code for a road
2district's permanent road fund whether levied annually or not.
3The extension for a special service area is not included in the
4aggregate extension.
5    "Aggregate extension base" means the taxing district's
6last preceding aggregate extension as adjusted under Sections
718-135, 18-215, and 18-230. An adjustment under Section 18-135
8shall be made for the 2007 levy year and all subsequent levy
9years whenever one or more counties within which a taxing
10district is located (i) used estimated valuations or rates when
11extending taxes in the taxing district for the last preceding
12levy year that resulted in the over or under extension of
13taxes, or (ii) increased or decreased the tax extension for the
14last preceding levy year as required by Section 18-135(c).
15Whenever an adjustment is required under Section 18-135, the
16aggregate extension base of the taxing district shall be equal
17to the amount that the aggregate extension of the taxing
18district would have been for the last preceding levy year if
19either or both (i) actual, rather than estimated, valuations or
20rates had been used to calculate the extension of taxes for the
21last levy year, or (ii) the tax extension for the last
22preceding levy year had not been adjusted as required by
23subsection (c) of Section 18-135.
24    Notwithstanding any other provision of law, for levy year
252012, the aggregate extension base for West Northfield School
26District No. 31 in Cook County shall be $12,654,592.

 

 

HB0824- 15 -LRB100 07847 HLH 17916 b

1    "Levy year" has the same meaning as "year" under Section
21-155.
3    "New property" means (i) the assessed value, after final
4board of review or board of appeals action, of new improvements
5or additions to existing improvements on any parcel of real
6property that increase the assessed value of that real property
7during the levy year multiplied by the equalization factor
8issued by the Department under Section 17-30, (ii) the assessed
9value, after final board of review or board of appeals action,
10of real property not exempt from real estate taxation, which
11real property was exempt from real estate taxation for any
12portion of the immediately preceding levy year, multiplied by
13the equalization factor issued by the Department under Section
1417-30, including the assessed value, upon final stabilization
15of occupancy after new construction is complete, of any real
16property located within the boundaries of an otherwise or
17previously exempt military reservation that is intended for
18residential use and owned by or leased to a private corporation
19or other entity, (iii) in counties that classify in accordance
20with Section 4 of Article IX of the Illinois Constitution, an
21incentive property's additional assessed value resulting from
22a scheduled increase in the level of assessment as applied to
23the first year final board of review market value, and (iv) any
24increase in assessed value due to oil or gas production from an
25oil or gas well required to be permitted under the Hydraulic
26Fracturing Regulatory Act that was not produced in or accounted

 

 

HB0824- 16 -LRB100 07847 HLH 17916 b

1for during the previous levy year. In addition, the county
2clerk in a county containing a population of 3,000,000 or more
3shall include in the 1997 recovered tax increment value for any
4school district, any recovered tax increment value that was
5applicable to the 1995 tax year calculations.
6    "Qualified airport authority" means an airport authority
7organized under the Airport Authorities Act and located in a
8county bordering on the State of Wisconsin and having a
9population in excess of 200,000 and not greater than 500,000.
10    "Recovered tax increment value" means, except as otherwise
11provided in this paragraph, the amount of the current year's
12equalized assessed value, in the first year after a
13municipality terminates the designation of an area as a
14redevelopment project area previously established under the
15Tax Increment Allocation Development Act in the Illinois
16Municipal Code, previously established under the Industrial
17Jobs Recovery Law in the Illinois Municipal Code, previously
18established under the Economic Development Project Area Tax
19Increment Act of 1995, or previously established under the
20Economic Development Area Tax Increment Allocation Act, of each
21taxable lot, block, tract, or parcel of real property in the
22redevelopment project area over and above the initial equalized
23assessed value of each property in the redevelopment project
24area. For the taxes which are extended for the 1997 levy year,
25the recovered tax increment value for a non-home rule taxing
26district that first became subject to this Law for the 1995

 

 

HB0824- 17 -LRB100 07847 HLH 17916 b

1levy year because a majority of its 1994 equalized assessed
2value was in an affected county or counties shall be increased
3if a municipality terminated the designation of an area in 1993
4as a redevelopment project area previously established under
5the Tax Increment Allocation Development Act in the Illinois
6Municipal Code, previously established under the Industrial
7Jobs Recovery Law in the Illinois Municipal Code, or previously
8established under the Economic Development Area Tax Increment
9Allocation Act, by an amount equal to the 1994 equalized
10assessed value of each taxable lot, block, tract, or parcel of
11real property in the redevelopment project area over and above
12the initial equalized assessed value of each property in the
13redevelopment project area. In the first year after a
14municipality removes a taxable lot, block, tract, or parcel of
15real property from a redevelopment project area established
16under the Tax Increment Allocation Development Act in the
17Illinois Municipal Code, the Industrial Jobs Recovery Law in
18the Illinois Municipal Code, or the Economic Development Area
19Tax Increment Allocation Act, "recovered tax increment value"
20means the amount of the current year's equalized assessed value
21of each taxable lot, block, tract, or parcel of real property
22removed from the redevelopment project area over and above the
23initial equalized assessed value of that real property before
24removal from the redevelopment project area.
25    Except as otherwise provided in this Section, "limiting
26rate" means a fraction the numerator of which is the last

 

 

HB0824- 18 -LRB100 07847 HLH 17916 b

1preceding aggregate extension base times an amount equal to one
2plus the extension limitation defined in this Section and the
3denominator of which is the current year's equalized assessed
4value of all real property in the territory under the
5jurisdiction of the taxing district during the prior levy year.
6For those taxing districts that reduced their aggregate
7extension for the last preceding levy year, the highest
8aggregate extension in any of the last 3 preceding levy years
9shall be used for the purpose of computing the limiting rate.
10The denominator shall not include new property or the recovered
11tax increment value. If a new rate, a rate decrease, or a
12limiting rate increase has been approved at an election held
13after March 21, 2006, then (i) the otherwise applicable
14limiting rate shall be increased by the amount of the new rate
15or shall be reduced by the amount of the rate decrease, as the
16case may be, or (ii) in the case of a limiting rate increase,
17the limiting rate shall be equal to the rate set forth in the
18proposition approved by the voters for each of the years
19specified in the proposition, after which the limiting rate of
20the taxing district shall be calculated as otherwise provided.
21In the case of a taxing district that obtained referendum
22approval for an increased limiting rate on March 20, 2012, the
23limiting rate for tax year 2012 shall be the rate that
24generates the approximate total amount of taxes extendable for
25that tax year, as set forth in the proposition approved by the
26voters; this rate shall be the final rate applied by the county

 

 

HB0824- 19 -LRB100 07847 HLH 17916 b

1clerk for the aggregate of all capped funds of the district for
2tax year 2012.
3(Source: P.A. 98-6, eff. 3-29-13; 98-23, eff. 6-17-13; 99-143,
4eff. 7-27-15.)
 
5    (Text of Section after amendment by P.A. 99-521)
6    Sec. 18-185. Short title; definitions. This Division 5 may
7be cited as the Property Tax Extension Limitation Law. As used
8in this Division 5:
9    "Consumer Price Index" means the Consumer Price Index for
10All Urban Consumers for all items published by the United
11States Department of Labor.
12    "Extension limitation" means (a) the lesser of 5% or the
13percentage increase in the Consumer Price Index during the
1412-month calendar year preceding the levy year or (b) the rate
15of increase approved by voters under Section 18-205.
16Notwithstanding any other provision of law, if (i) the total
17equalized assessed value of all taxable property in the taxing
18district for the current levy year is less than the total
19equalized assessed value of all taxable property in the taxing
20district for the previous levy year, or (ii) the median
21equalized assessed value of all taxable property in the taxing
22district for the current levy year and the 2 levy years
23immediately preceding the current levy year is less than the
24median equalized assessed value of all taxable property in the
25taxing district for the 3 levy years immediately preceding that

 

 

HB0824- 20 -LRB100 07847 HLH 17916 b

13-year period, then the extension limitation is (a) 0% or (b)
2the rate of increase approved by voters under Section 18-205.
3For the purposes of this paragraph, "equalized assessed value"
4does not include new property, recovered tax increment value,
5or property that is annexed to or disconnected from the taxing
6district in the applicable levy year.
7    "Affected county" means a county of 3,000,000 or more
8inhabitants or a county contiguous to a county of 3,000,000 or
9more inhabitants.
10    "Taxing district" has the same meaning provided in Section
111-150, except as otherwise provided in this Section. For the
121991 through 1994 levy years only, "taxing district" includes
13only each non-home rule taxing district having the majority of
14its 1990 equalized assessed value within any county or counties
15contiguous to a county with 3,000,000 or more inhabitants.
16Beginning with the 1995 levy year, "taxing district" includes
17only each non-home rule taxing district subject to this Law
18before the 1995 levy year and each non-home rule taxing
19district not subject to this Law before the 1995 levy year
20having the majority of its 1994 equalized assessed value in an
21affected county or counties. Beginning with the levy year in
22which this Law becomes applicable to a taxing district as
23provided in Section 18-213, "taxing district" also includes
24those taxing districts made subject to this Law as provided in
25Section 18-213.
26    "Aggregate extension" for taxing districts to which this

 

 

HB0824- 21 -LRB100 07847 HLH 17916 b

1Law applied before the 1995 levy year means the annual
2corporate extension for the taxing district and those special
3purpose extensions that are made annually for the taxing
4district, excluding special purpose extensions: (a) made for
5the taxing district to pay interest or principal on general
6obligation bonds that were approved by referendum; (b) made for
7any taxing district to pay interest or principal on general
8obligation bonds issued before October 1, 1991; (c) made for
9any taxing district to pay interest or principal on bonds
10issued to refund or continue to refund those bonds issued
11before October 1, 1991; (d) made for any taxing district to pay
12interest or principal on bonds issued to refund or continue to
13refund bonds issued after October 1, 1991 that were approved by
14referendum; (e) made for any taxing district to pay interest or
15principal on revenue bonds issued before October 1, 1991 for
16payment of which a property tax levy or the full faith and
17credit of the unit of local government is pledged; however, a
18tax for the payment of interest or principal on those bonds
19shall be made only after the governing body of the unit of
20local government finds that all other sources for payment are
21insufficient to make those payments; (f) made for payments
22under a building commission lease when the lease payments are
23for the retirement of bonds issued by the commission before
24October 1, 1991, to pay for the building project; (g) made for
25payments due under installment contracts entered into before
26October 1, 1991; (h) made for payments of principal and

 

 

HB0824- 22 -LRB100 07847 HLH 17916 b

1interest on bonds issued under the Metropolitan Water
2Reclamation District Act to finance construction projects
3initiated before October 1, 1991; (i) made for payments of
4principal and interest on limited bonds, as defined in Section
53 of the Local Government Debt Reform Act, in an amount not to
6exceed the debt service extension base less the amount in items
7(b), (c), (e), and (h) of this definition for non-referendum
8obligations, except obligations initially issued pursuant to
9referendum; (j) made for payments of principal and interest on
10bonds issued under Section 15 of the Local Government Debt
11Reform Act; (k) made by a school district that participates in
12the Special Education District of Lake County, created by
13special education joint agreement under Section 10-22.31 of the
14School Code, for payment of the school district's share of the
15amounts required to be contributed by the Special Education
16District of Lake County to the Illinois Municipal Retirement
17Fund under Article 7 of the Illinois Pension Code; the amount
18of any extension under this item (k) shall be certified by the
19school district to the county clerk; (l) made to fund expenses
20of providing joint recreational programs for persons with
21disabilities under Section 5-8 of the Park District Code or
22Section 11-95-14 of the Illinois Municipal Code; (m) made for
23temporary relocation loan repayment purposes pursuant to
24Sections 2-3.77 and 17-2.2d of the School Code; (n) made for
25payment of principal and interest on any bonds issued under the
26authority of Section 17-2.2d of the School Code; (o) made for

 

 

HB0824- 23 -LRB100 07847 HLH 17916 b

1contributions to a firefighter's pension fund created under
2Article 4 of the Illinois Pension Code, to the extent of the
3amount certified under item (5) of Section 4-134 of the
4Illinois Pension Code; and (p) made for road purposes in the
5first year after a township assumes the rights, powers, duties,
6assets, property, liabilities, obligations, and
7responsibilities of a road district abolished under the
8provisions of Section 6-133 of the Illinois Highway Code.
9    "Aggregate extension" for the taxing districts to which
10this Law did not apply before the 1995 levy year (except taxing
11districts subject to this Law in accordance with Section
1218-213) means the annual corporate extension for the taxing
13district and those special purpose extensions that are made
14annually for the taxing district, excluding special purpose
15extensions: (a) made for the taxing district to pay interest or
16principal on general obligation bonds that were approved by
17referendum; (b) made for any taxing district to pay interest or
18principal on general obligation bonds issued before March 1,
191995; (c) made for any taxing district to pay interest or
20principal on bonds issued to refund or continue to refund those
21bonds issued before March 1, 1995; (d) made for any taxing
22district to pay interest or principal on bonds issued to refund
23or continue to refund bonds issued after March 1, 1995 that
24were approved by referendum; (e) made for any taxing district
25to pay interest or principal on revenue bonds issued before
26March 1, 1995 for payment of which a property tax levy or the

 

 

HB0824- 24 -LRB100 07847 HLH 17916 b

1full faith and credit of the unit of local government is
2pledged; however, a tax for the payment of interest or
3principal on those bonds shall be made only after the governing
4body of the unit of local government finds that all other
5sources for payment are insufficient to make those payments;
6(f) made for payments under a building commission lease when
7the lease payments are for the retirement of bonds issued by
8the commission before March 1, 1995 to pay for the building
9project; (g) made for payments due under installment contracts
10entered into before March 1, 1995; (h) made for payments of
11principal and interest on bonds issued under the Metropolitan
12Water Reclamation District Act to finance construction
13projects initiated before October 1, 1991; (h-4) made for
14stormwater management purposes by the Metropolitan Water
15Reclamation District of Greater Chicago under Section 12 of the
16Metropolitan Water Reclamation District Act; (i) made for
17payments of principal and interest on limited bonds, as defined
18in Section 3 of the Local Government Debt Reform Act, in an
19amount not to exceed the debt service extension base less the
20amount in items (b), (c), and (e) of this definition for
21non-referendum obligations, except obligations initially
22issued pursuant to referendum and bonds described in subsection
23(h) of this definition; (j) made for payments of principal and
24interest on bonds issued under Section 15 of the Local
25Government Debt Reform Act; (k) made for payments of principal
26and interest on bonds authorized by Public Act 88-503 and

 

 

HB0824- 25 -LRB100 07847 HLH 17916 b

1issued under Section 20a of the Chicago Park District Act for
2aquarium or museum projects; (l) made for payments of principal
3and interest on bonds authorized by Public Act 87-1191 or
493-601 and (i) issued pursuant to Section 21.2 of the Cook
5County Forest Preserve District Act, (ii) issued under Section
642 of the Cook County Forest Preserve District Act for
7zoological park projects, or (iii) issued under Section 44.1 of
8the Cook County Forest Preserve District Act for botanical
9gardens projects; (m) made pursuant to Section 34-53.5 of the
10School Code, whether levied annually or not; (n) made to fund
11expenses of providing joint recreational programs for persons
12with disabilities under Section 5-8 of the Park District Code
13or Section 11-95-14 of the Illinois Municipal Code; (o) made by
14the Chicago Park District for recreational programs for persons
15with disabilities under subsection (c) of Section 7.06 of the
16Chicago Park District Act; (p) made for contributions to a
17firefighter's pension fund created under Article 4 of the
18Illinois Pension Code, to the extent of the amount certified
19under item (5) of Section 4-134 of the Illinois Pension Code;
20(q) made by Ford Heights School District 169 under Section
2117-9.02 of the School Code; and (r) made for the purpose of
22making employer contributions to the Public School Teachers'
23Pension and Retirement Fund of Chicago under Section 34-53 of
24the School Code.
25    "Aggregate extension" for all taxing districts to which
26this Law applies in accordance with Section 18-213, except for

 

 

HB0824- 26 -LRB100 07847 HLH 17916 b

1those taxing districts subject to paragraph (2) of subsection
2(e) of Section 18-213, means the annual corporate extension for
3the taxing district and those special purpose extensions that
4are made annually for the taxing district, excluding special
5purpose extensions: (a) made for the taxing district to pay
6interest or principal on general obligation bonds that were
7approved by referendum; (b) made for any taxing district to pay
8interest or principal on general obligation bonds issued before
9the date on which the referendum making this Law applicable to
10the taxing district is held; (c) made for any taxing district
11to pay interest or principal on bonds issued to refund or
12continue to refund those bonds issued before the date on which
13the referendum making this Law applicable to the taxing
14district is held; (d) made for any taxing district to pay
15interest or principal on bonds issued to refund or continue to
16refund bonds issued after the date on which the referendum
17making this Law applicable to the taxing district is held if
18the bonds were approved by referendum after the date on which
19the referendum making this Law applicable to the taxing
20district is held; (e) made for any taxing district to pay
21interest or principal on revenue bonds issued before the date
22on which the referendum making this Law applicable to the
23taxing district is held for payment of which a property tax
24levy or the full faith and credit of the unit of local
25government is pledged; however, a tax for the payment of
26interest or principal on those bonds shall be made only after

 

 

HB0824- 27 -LRB100 07847 HLH 17916 b

1the governing body of the unit of local government finds that
2all other sources for payment are insufficient to make those
3payments; (f) made for payments under a building commission
4lease when the lease payments are for the retirement of bonds
5issued by the commission before the date on which the
6referendum making this Law applicable to the taxing district is
7held to pay for the building project; (g) made for payments due
8under installment contracts entered into before the date on
9which the referendum making this Law applicable to the taxing
10district is held; (h) made for payments of principal and
11interest on limited bonds, as defined in Section 3 of the Local
12Government Debt Reform Act, in an amount not to exceed the debt
13service extension base less the amount in items (b), (c), and
14(e) of this definition for non-referendum obligations, except
15obligations initially issued pursuant to referendum; (i) made
16for payments of principal and interest on bonds issued under
17Section 15 of the Local Government Debt Reform Act; (j) made
18for a qualified airport authority to pay interest or principal
19on general obligation bonds issued for the purpose of paying
20obligations due under, or financing airport facilities
21required to be acquired, constructed, installed or equipped
22pursuant to, contracts entered into before March 1, 1996 (but
23not including any amendments to such a contract taking effect
24on or after that date); (k) made to fund expenses of providing
25joint recreational programs for persons with disabilities
26under Section 5-8 of the Park District Code or Section 11-95-14

 

 

HB0824- 28 -LRB100 07847 HLH 17916 b

1of the Illinois Municipal Code; (l) made for contributions to a
2firefighter's pension fund created under Article 4 of the
3Illinois Pension Code, to the extent of the amount certified
4under item (5) of Section 4-134 of the Illinois Pension Code;
5and (m) made for the taxing district to pay interest or
6principal on general obligation bonds issued pursuant to
7Section 19-3.10 of the School Code.
8    "Aggregate extension" for all taxing districts to which
9this Law applies in accordance with paragraph (2) of subsection
10(e) of Section 18-213 means the annual corporate extension for
11the taxing district and those special purpose extensions that
12are made annually for the taxing district, excluding special
13purpose extensions: (a) made for the taxing district to pay
14interest or principal on general obligation bonds that were
15approved by referendum; (b) made for any taxing district to pay
16interest or principal on general obligation bonds issued before
17the effective date of this amendatory Act of 1997; (c) made for
18any taxing district to pay interest or principal on bonds
19issued to refund or continue to refund those bonds issued
20before the effective date of this amendatory Act of 1997; (d)
21made for any taxing district to pay interest or principal on
22bonds issued to refund or continue to refund bonds issued after
23the effective date of this amendatory Act of 1997 if the bonds
24were approved by referendum after the effective date of this
25amendatory Act of 1997; (e) made for any taxing district to pay
26interest or principal on revenue bonds issued before the

 

 

HB0824- 29 -LRB100 07847 HLH 17916 b

1effective date of this amendatory Act of 1997 for payment of
2which a property tax levy or the full faith and credit of the
3unit of local government is pledged; however, a tax for the
4payment of interest or principal on those bonds shall be made
5only after the governing body of the unit of local government
6finds that all other sources for payment are insufficient to
7make those payments; (f) made for payments under a building
8commission lease when the lease payments are for the retirement
9of bonds issued by the commission before the effective date of
10this amendatory Act of 1997 to pay for the building project;
11(g) made for payments due under installment contracts entered
12into before the effective date of this amendatory Act of 1997;
13(h) made for payments of principal and interest on limited
14bonds, as defined in Section 3 of the Local Government Debt
15Reform Act, in an amount not to exceed the debt service
16extension base less the amount in items (b), (c), and (e) of
17this definition for non-referendum obligations, except
18obligations initially issued pursuant to referendum; (i) made
19for payments of principal and interest on bonds issued under
20Section 15 of the Local Government Debt Reform Act; (j) made
21for a qualified airport authority to pay interest or principal
22on general obligation bonds issued for the purpose of paying
23obligations due under, or financing airport facilities
24required to be acquired, constructed, installed or equipped
25pursuant to, contracts entered into before March 1, 1996 (but
26not including any amendments to such a contract taking effect

 

 

HB0824- 30 -LRB100 07847 HLH 17916 b

1on or after that date); (k) made to fund expenses of providing
2joint recreational programs for persons with disabilities
3under Section 5-8 of the Park District Code or Section 11-95-14
4of the Illinois Municipal Code; and (l) made for contributions
5to a firefighter's pension fund created under Article 4 of the
6Illinois Pension Code, to the extent of the amount certified
7under item (5) of Section 4-134 of the Illinois Pension Code.
8    "Debt service extension base" means an amount equal to that
9portion of the extension for a taxing district for the 1994
10levy year, or for those taxing districts subject to this Law in
11accordance with Section 18-213, except for those subject to
12paragraph (2) of subsection (e) of Section 18-213, for the levy
13year in which the referendum making this Law applicable to the
14taxing district is held, or for those taxing districts subject
15to this Law in accordance with paragraph (2) of subsection (e)
16of Section 18-213 for the 1996 levy year, constituting an
17extension for payment of principal and interest on bonds issued
18by the taxing district without referendum, but not including
19excluded non-referendum bonds. For park districts (i) that were
20first subject to this Law in 1991 or 1995 and (ii) whose
21extension for the 1994 levy year for the payment of principal
22and interest on bonds issued by the park district without
23referendum (but not including excluded non-referendum bonds)
24was less than 51% of the amount for the 1991 levy year
25constituting an extension for payment of principal and interest
26on bonds issued by the park district without referendum (but

 

 

HB0824- 31 -LRB100 07847 HLH 17916 b

1not including excluded non-referendum bonds), "debt service
2extension base" means an amount equal to that portion of the
3extension for the 1991 levy year constituting an extension for
4payment of principal and interest on bonds issued by the park
5district without referendum (but not including excluded
6non-referendum bonds). A debt service extension base
7established or increased at any time pursuant to any provision
8of this Law, except Section 18-212, shall be increased each
9year commencing with the later of (i) the 2009 levy year or
10(ii) the first levy year in which this Law becomes applicable
11to the taxing district, by the lesser of 5% or the percentage
12increase in the Consumer Price Index during the 12-month
13calendar year preceding the levy year. The debt service
14extension base may be established or increased as provided
15under Section 18-212. "Excluded non-referendum bonds" means
16(i) bonds authorized by Public Act 88-503 and issued under
17Section 20a of the Chicago Park District Act for aquarium and
18museum projects; (ii) bonds issued under Section 15 of the
19Local Government Debt Reform Act; or (iii) refunding
20obligations issued to refund or to continue to refund
21obligations initially issued pursuant to referendum.
22    "Special purpose extensions" include, but are not limited
23to, extensions for levies made on an annual basis for
24unemployment and workers' compensation, self-insurance,
25contributions to pension plans, and extensions made pursuant to
26Section 6-601 of the Illinois Highway Code for a road

 

 

HB0824- 32 -LRB100 07847 HLH 17916 b

1district's permanent road fund whether levied annually or not.
2The extension for a special service area is not included in the
3aggregate extension.
4    "Aggregate extension base" means the taxing district's
5last preceding aggregate extension as adjusted under Sections
618-135, 18-215, and 18-230. An adjustment under Section 18-135
7shall be made for the 2007 levy year and all subsequent levy
8years whenever one or more counties within which a taxing
9district is located (i) used estimated valuations or rates when
10extending taxes in the taxing district for the last preceding
11levy year that resulted in the over or under extension of
12taxes, or (ii) increased or decreased the tax extension for the
13last preceding levy year as required by Section 18-135(c).
14Whenever an adjustment is required under Section 18-135, the
15aggregate extension base of the taxing district shall be equal
16to the amount that the aggregate extension of the taxing
17district would have been for the last preceding levy year if
18either or both (i) actual, rather than estimated, valuations or
19rates had been used to calculate the extension of taxes for the
20last levy year, or (ii) the tax extension for the last
21preceding levy year had not been adjusted as required by
22subsection (c) of Section 18-135.
23    Notwithstanding any other provision of law, for levy year
242012, the aggregate extension base for West Northfield School
25District No. 31 in Cook County shall be $12,654,592.
26    "Levy year" has the same meaning as "year" under Section

 

 

HB0824- 33 -LRB100 07847 HLH 17916 b

11-155.
2    "New property" means (i) the assessed value, after final
3board of review or board of appeals action, of new improvements
4or additions to existing improvements on any parcel of real
5property that increase the assessed value of that real property
6during the levy year multiplied by the equalization factor
7issued by the Department under Section 17-30, (ii) the assessed
8value, after final board of review or board of appeals action,
9of real property not exempt from real estate taxation, which
10real property was exempt from real estate taxation for any
11portion of the immediately preceding levy year, multiplied by
12the equalization factor issued by the Department under Section
1317-30, including the assessed value, upon final stabilization
14of occupancy after new construction is complete, of any real
15property located within the boundaries of an otherwise or
16previously exempt military reservation that is intended for
17residential use and owned by or leased to a private corporation
18or other entity, (iii) in counties that classify in accordance
19with Section 4 of Article IX of the Illinois Constitution, an
20incentive property's additional assessed value resulting from
21a scheduled increase in the level of assessment as applied to
22the first year final board of review market value, and (iv) any
23increase in assessed value due to oil or gas production from an
24oil or gas well required to be permitted under the Hydraulic
25Fracturing Regulatory Act that was not produced in or accounted
26for during the previous levy year. In addition, the county

 

 

HB0824- 34 -LRB100 07847 HLH 17916 b

1clerk in a county containing a population of 3,000,000 or more
2shall include in the 1997 recovered tax increment value for any
3school district, any recovered tax increment value that was
4applicable to the 1995 tax year calculations.
5    "Qualified airport authority" means an airport authority
6organized under the Airport Authorities Act and located in a
7county bordering on the State of Wisconsin and having a
8population in excess of 200,000 and not greater than 500,000.
9    "Recovered tax increment value" means, except as otherwise
10provided in this paragraph, the amount of the current year's
11equalized assessed value, in the first year after a
12municipality terminates the designation of an area as a
13redevelopment project area previously established under the
14Tax Increment Allocation Development Act in the Illinois
15Municipal Code, previously established under the Industrial
16Jobs Recovery Law in the Illinois Municipal Code, previously
17established under the Economic Development Project Area Tax
18Increment Act of 1995, or previously established under the
19Economic Development Area Tax Increment Allocation Act, of each
20taxable lot, block, tract, or parcel of real property in the
21redevelopment project area over and above the initial equalized
22assessed value of each property in the redevelopment project
23area. For the taxes which are extended for the 1997 levy year,
24the recovered tax increment value for a non-home rule taxing
25district that first became subject to this Law for the 1995
26levy year because a majority of its 1994 equalized assessed

 

 

HB0824- 35 -LRB100 07847 HLH 17916 b

1value was in an affected county or counties shall be increased
2if a municipality terminated the designation of an area in 1993
3as a redevelopment project area previously established under
4the Tax Increment Allocation Development Act in the Illinois
5Municipal Code, previously established under the Industrial
6Jobs Recovery Law in the Illinois Municipal Code, or previously
7established under the Economic Development Area Tax Increment
8Allocation Act, by an amount equal to the 1994 equalized
9assessed value of each taxable lot, block, tract, or parcel of
10real property in the redevelopment project area over and above
11the initial equalized assessed value of each property in the
12redevelopment project area. In the first year after a
13municipality removes a taxable lot, block, tract, or parcel of
14real property from a redevelopment project area established
15under the Tax Increment Allocation Development Act in the
16Illinois Municipal Code, the Industrial Jobs Recovery Law in
17the Illinois Municipal Code, or the Economic Development Area
18Tax Increment Allocation Act, "recovered tax increment value"
19means the amount of the current year's equalized assessed value
20of each taxable lot, block, tract, or parcel of real property
21removed from the redevelopment project area over and above the
22initial equalized assessed value of that real property before
23removal from the redevelopment project area.
24    Except as otherwise provided in this Section, "limiting
25rate" means a fraction the numerator of which is the last
26preceding aggregate extension base times an amount equal to one

 

 

HB0824- 36 -LRB100 07847 HLH 17916 b

1plus the extension limitation defined in this Section and the
2denominator of which is the current year's equalized assessed
3value of all real property in the territory under the
4jurisdiction of the taxing district during the prior levy year.
5For those taxing districts that reduced their aggregate
6extension for the last preceding levy year, the highest
7aggregate extension in any of the last 3 preceding levy years
8shall be used for the purpose of computing the limiting rate.
9The denominator shall not include new property or the recovered
10tax increment value. If a new rate, a rate decrease, or a
11limiting rate increase has been approved at an election held
12after March 21, 2006, then (i) the otherwise applicable
13limiting rate shall be increased by the amount of the new rate
14or shall be reduced by the amount of the rate decrease, as the
15case may be, or (ii) in the case of a limiting rate increase,
16the limiting rate shall be equal to the rate set forth in the
17proposition approved by the voters for each of the years
18specified in the proposition, after which the limiting rate of
19the taxing district shall be calculated as otherwise provided.
20In the case of a taxing district that obtained referendum
21approval for an increased limiting rate on March 20, 2012, the
22limiting rate for tax year 2012 shall be the rate that
23generates the approximate total amount of taxes extendable for
24that tax year, as set forth in the proposition approved by the
25voters; this rate shall be the final rate applied by the county
26clerk for the aggregate of all capped funds of the district for

 

 

HB0824- 37 -LRB100 07847 HLH 17916 b

1tax year 2012.
2(Source: P.A. 98-6, eff. 3-29-13; 98-23, eff. 6-17-13; 99-143,
3eff. 7-27-15; 99-521, eff. 6-1-17.)
 
4    (35 ILCS 200/18-205)
5    Sec. 18-205. Referendum to increase the extension
6limitation. A taxing district is limited to an extension
7limitation as defined in Section 18-185 of 5% or the percentage
8increase in the Consumer Price Index during the 12-month
9calendar year preceding the levy year, whichever is less. A
10taxing district may increase its extension limitation for one
11or more levy years if that taxing district holds a referendum
12before the levy date for the first levy year at which a
13majority of voters voting on the issue approves adoption of a
14higher extension limitation. Referenda shall be conducted at a
15regularly scheduled election in accordance with the Election
16Code. The question shall be presented in substantially the
17following manner for all elections held after March 21, 2006:
18        Shall the extension limitation under the Property Tax
19    Extension Limitation Law for (insert the legal name,
20    number, if any, and county or counties of the taxing
21    district and geographic or other common name by which a
22    school or community college district is known and referred
23    to), Illinois, be increased from (applicable extension
24    limitation) the lesser of 5% or the percentage increase in
25    the Consumer Price Index over the prior levy year to

 

 

HB0824- 38 -LRB100 07847 HLH 17916 b

1    (insert the percentage of the proposed increase)% per year
2    for (insert each levy year for which the increased
3    extension limitation will apply)?
4The votes must be recorded as "Yes" or "No".
5If a majority of voters voting on the issue approves the
6adoption of the increase, the increase shall be applicable for
7each levy year specified.
8    The ballot for any question submitted pursuant to this
9Section shall have printed thereon, but not as a part of the
10question submitted, only the following supplemental
11information (which shall be supplied to the election authority
12by the taxing district) in substantially the following form:
13        (1) For the (insert the first levy year for which the
14    increased extension limitation will be applicable) levy
15    year the approximate amount of the additional tax
16    extendable against property containing a single family
17    residence and having a fair market value at the time of the
18    referendum of $100,000 is estimated to be $....
19        (2) Based upon an average annual percentage increase
20    (or decrease) in the market value of such property of ...%
21    (insert percentage equal to the average annual percentage
22    increase or decrease for the prior 3 levy years, at the
23    time the submission of the question is initiated by the
24    taxing district, in the amount of (A) the equalized
25    assessed value of the taxable property in the taxing
26    district less (B) the new property included in the

 

 

HB0824- 39 -LRB100 07847 HLH 17916 b

1    equalized assessed value), the approximate amount of the
2    additional tax extendable against such property for the ...
3    levy year is estimated to be $... and for the ... levy year
4    is estimated to be $....
5    Paragraph (2) shall be included only if the increased
6extension limitation will be applicable for more than one year
7and shall list each levy year for which the increased extension
8limitation will be applicable. The additional tax shown for
9each levy year shall be the approximate dollar amount of the
10increase over the amount of the most recently completed
11extension at the time the submission of the question is
12initiated by the taxing district. The approximate amount of the
13additional tax extendable shown in paragraphs (1) and (2) shall
14be calculated by multiplying $100,000 (the fair market value of
15the property without regard to any property tax exemptions) by
16(i) the percentage level of assessment prescribed for that
17property by statute, or by ordinance of the county board in
18counties that classify property for purposes of taxation in
19accordance with Section 4 of Article IX of the Illinois
20Constitution; (ii) the most recent final equalization factor
21certified to the county clerk by the Department of Revenue at
22the time the taxing district initiates the submission of the
23proposition to the electors; (iii) the last known aggregate
24extension base of the taxing district at the time the
25submission of the question is initiated by the taxing district;
26and (iv) the difference between the percentage increase

 

 

HB0824- 40 -LRB100 07847 HLH 17916 b

1proposed in the question and either (i) the lesser of 5% or the
2percentage increase in the Consumer Price Index for the prior
3levy year (or an estimate of the percentage increase for the
4prior levy year if the increase is unavailable at the time the
5submission of the question is initiated by the taxing district)
6or (ii) 0%, as applicable; and dividing the result by the last
7known equalized assessed value of the taxing district at the
8time the submission of the question is initiated by the taxing
9district. This amendatory Act of the 97th General Assembly is
10intended to clarify the existing requirements of this Section,
11and shall not be construed to validate any prior non-compliant
12referendum language. Any notice required to be published in
13connection with the submission of the question shall also
14contain this supplemental information and shall not contain any
15other supplemental information. Any error, miscalculation, or
16inaccuracy in computing any amount set forth on the ballot or
17in the notice that is not deliberate shall not invalidate or
18affect the validity of any proposition approved. Notice of the
19referendum shall be published and posted as otherwise required
20by law, and the submission of the question shall be initiated
21as provided by law.
22(Source: P.A. 97-1087, eff. 8-24-12.)
 
23    Section 95. No acceleration or delay. Where this Act makes
24changes in a statute that is represented in this Act by text
25that is not yet or no longer in effect (for example, a Section

 

 

HB0824- 41 -LRB100 07847 HLH 17916 b

1represented by multiple versions), the use of that text does
2not accelerate or delay the taking effect of (i) the changes
3made by this Act or (ii) provisions derived from any other
4Public Act.
 
5    Section 99. Effective date. This Act takes effect upon
6becoming law.