Illinois General Assembly - Bill Status for HJRCA0020

Proposes to add to the Revenue Article of the Illinois Constitution a taxpayer's bill of rights. Authorizes taxpayer suits. Requires voter approval for a new tax, a tax rate increase, a levy increase above that for the prior year, an equalized assessed value ratio increase for a property class, the extension of an expiring tax, or a tax policy change directly causing a net tax revenue gain to any taxing district. Imposes limits on the creation of any multiple-fiscal year direct or indirect taxing district debt or other financial obligation unless certain conditions are met. Imposes spending limits on taxing districts equal to the increase in the consumer price index plus certain increases to account for growth in the district. Imposes revenue limits on taxing districts. Effective upon being declared adopted.

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