Illinois General Assembly - Full Text of SB0347
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Full Text of SB0347  98th General Assembly



SB0347 EnrolledLRB098 04578 HLH 34606 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. Each installment of taxes
15shall be extended in a separate column. Installments shall be
16equal and as to each installment a fraction of a cent shall be
17extended as one cent.
18(Source: P.A. 87-17; 88-455.)
19    Section 99. Effective date. This Act takes effect upon
20becoming law.