Bill Status of HB4267 99th General Assembly
Short Description: PTELL-RESERVES
Rep. Fred Crespo - Sam Yingling - Carol Sente - Jack D. Franks - David McSweeney, Natalie A. Manley, Michelle Mussman, Stephanie A. Kifowit and Martin J. Moylan
| 1/10/2017||House||Session Sine Die|
Statutes Amended In Order of Appearance
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.