Illinois General Assembly - Bill Status for HB4996
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 Bill Status of HB4996  102nd General Assembly


Short Description:  PTELL-RESERVES

House Sponsors
Rep. Fred Crespo

Last Action
DateChamber Action
  1/8/2019HouseSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 200/18-185
35 ILCS 200/18-205
35 ILCS 200/18-242 new
30 ILCS 805/8.42 new


Synopsis As Introduced
Amends the Property Tax Extension Limitation Law in the Property Tax Code. Provides that, if, at the end of any levy year, a taxing district has reserves of 50% or more of its operating budget for that levy year, then, for the next levy year, "extension limitation" means 0% or the rate of increase approved by the voters. Preempts the power of home rule units to tax. Effective immediately.

Actions 
DateChamber Action
  2/14/2018HouseFiled with the Clerk by Rep. Fred Crespo
  2/14/2018HouseFirst Reading
  2/14/2018HouseReferred to Rules Committee
  3/21/2018HouseAssigned to Revenue & Finance Committee
  4/12/2018HouseTo Property Tax Subcommittee
  4/13/2018HouseRule 19(a) / Re-referred to Rules Committee
  1/8/2019HouseSession Sine Die

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