Illinois General Assembly - Bill Status for HB5049
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 Bill Status of HB5049  97th General Assembly

Short Description:  PROP TX-ASSESSMENTS

House Sponsors
Rep. Dennis M. Reboletti - Randy Ramey, Jr. - Angelo Saviano - Raymond Poe - JoAnn D. Osmond, Tom Cross, Timothy L. Schmitz and Sidney H. Mathias

Last Action
DateChamber Action
  1/8/2013HouseSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 200/1-55

Synopsis As Introduced
Amends the Property Tax Code. Provides that, for the purposes of the definition of 33 1/3%, the fair cash value of property is determined by the lesser of: (1) the Department of Revenue's sales ratio studies for the 3 most recent years preceding the assessment year; or (2) the valuation of the property in the prior year (under the current law, the fair cash value is based on the sales ratio studies).

DateChamber Action
  2/7/2012HouseFiled with the Clerk by Rep. Dennis M. Reboletti
  2/7/2012HouseFirst Reading
  2/7/2012HouseReferred to Rules Committee
  2/16/2012HouseAdded Chief Co-Sponsor Rep. Randy Ramey, Jr.
  2/16/2012HouseAdded Chief Co-Sponsor Rep. Angelo Saviano
  2/21/2012HouseAdded Chief Co-Sponsor Rep. Raymond Poe
  2/21/2012HouseAdded Chief Co-Sponsor Rep. JoAnn D. Osmond
  2/21/2012HouseAdded Co-Sponsor Rep. Tom Cross
  2/21/2012HouseAdded Co-Sponsor Rep. Timothy L. Schmitz
  2/21/2012HouseAdded Co-Sponsor Rep. Sidney H. Mathias
  1/8/2013HouseSession Sine Die

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