Illinois General Assembly - Full Text of HB5083
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Full Text of HB5083  102nd General Assembly

HB5083 102ND GENERAL ASSEMBLY

  
  

 


 
102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
HB5083

 

Introduced 1/27/2022, by Rep. Rita Mayfield

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 200/18-50.3 new

    Amends the Property Tax Code. Provides that, beginning in levy year 2023, no taxing district may increase its aggregate extension when compared with the taxing district's aggregate extension for the last preceding levy year by more than the average percentage increase in property assessments when compared with the last preceding levy year.


LRB102 22392 HLH 31532 b

 

 

A BILL FOR

 

HB5083LRB102 22392 HLH 31532 b

1    AN ACT concerning revenue.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Property Tax Code is amended by adding
5Section 18-50.3 as follows:
 
6    (35 ILCS 200/18-50.3 new)
7    Sec. 18-50.3. Limitation on increase in taxing district
8extensions.
9    (a) Notwithstanding any other provision of law, beginning
10in levy year 2023, no taxing district may increase its
11aggregate extension when compared with the taxing district's
12aggregate extension for the last preceding levy year by more
13than the average percentage increase in property assessments
14when compared with the last preceding levy year.
15    (b) As used in this Section:
16    "Aggregate extension" means the annual corporate extension
17for the taxing district and those special purpose extensions
18that are made annually for the taxing district.