Illinois General Assembly - Bill Status for HB4997
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 Bill Status of HB4997  102nd General Assembly


Short Description:  PROP TX-SCHOOL DISTRICTS

House Sponsors
Rep. Fred Crespo

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

Statutes Amended In Order of Appearance
35 ILCS 200/Art. 18 Div. 7 heading new
35 ILCS 200/18-280 new
35 ILCS 200/18-285 new
35 ILCS 200/18-290 new
35 ILCS 200/20-15


Synopsis As Introduced
Amends the Property Tax Code. Creates the School District Extension Freeze Law. Provides that, if at the end of any levy year, a school district has reserves of 50% or more of its operating budget, then the school district's extension for all purposes may not exceed its extension for the previous levy year. Provides that, if the school district has reserves of 60% or more at the end of the immediately preceding levy year, then the district's extension shall be reduced by an amount equal to the difference between the district's reserve amount for the immediately preceding levy year and a reserve amount of 60% for that levy year. Effective July 1, 2019.

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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