93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004
HB6688

 

Introduced 02/09/04, by Joe Dunn

 

SYNOPSIS AS INTRODUCED:
 
65 ILCS 5/8d new

    Amends the Illinois Municipal Code. Provides that, notwithstanding any provision of the Tax Increment Allocation Redevelopment Act to the contrary, when a school district passes an ordinance to increase property taxes, the revenue generated by the percentage rate increase, even in a redevelopment project area, must be paid to the school district. Effective immediately.


LRB093 19055 MKM 44790 b

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

 

 

A BILL FOR

 

HB6688 LRB093 19055 MKM 44790 b

1     AN ACT concerning taxes.
 
2     Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
 
4     Section 5. The Illinois Municipal Code is amended by adding
5 Section 8d as follows:
 
6     (65 ILCS 5/8d new)
7     Sec. 8d. School district rate increase. Notwithstanding
8 any provision of this Division to the contrary, when a school
9 district passes an ordinance to increase property taxes, the
10 revenue generated by the percentage rate increase, even in a
11 redevelopment project area, must be paid to the school
12 district.
 
13     Section 99. Effective date. This Act takes effect upon
14 becoming law.