Illinois General Assembly - Full Text of HB0189
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Full Text of HB0189  98th General Assembly




HB0189 EngrossedLRB098 02813 HLH 32821 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 changing
5Section 18-140 as follows:
6    (35 ILCS 200/18-140)
7    Sec. 18-140. Extension upon equalized assessment of
8current levy year. All taxes shall be extended by each county
9clerk upon the valuation produced by the equalization and
10assessment of property by the Department for the levy year. In
11the computation of rates, a fraction of a mill shall be
12extended as the next higher mill. Rates may be calculated
13beyond 3 decimal points to allow the extension to be as close
14to the levy requested as possible; however, the extension may
15not exceed the levy requested, after all reductions required
16under the Property Tax Extension Limitation Law or any other
17applicable law are applied. Each installment of taxes shall be
18extended in a separate column. Installments shall be equal and
19as to each installment a fraction of a cent shall be extended
20as one cent.
21(Source: P.A. 87-17; 88-455.)
22    Section 99. Effective date. This Act takes effect upon



HB0189 Engrossed- 2 -LRB098 02813 HLH 32821 b

1becoming law.