|SB0347 Enrolled||LRB098 04578 HLH 34606 b|
AN ACT concerning revenue.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
The Property Tax Code is amended by changing
Section 18-140 as follows:
(35 ILCS 200/18-140)
Extension upon equalized assessment of
year. All taxes shall be extended by each county
clerk upon the valuation
produced by the equalization and
assessment of property by the Department for
the levy year. In
the computation of rates, a fraction of a mill shall be
extended as the next higher mill.
Rates may be calculated
beyond 3 decimal points to allow the extension to be as close
to the levy requested as possible.
Each installment of taxes
shall be extended
in a separate column. Installments shall be
equal and as to each installment a
fraction of a cent shall be
extended as one cent.
(Source: P.A. 87-17; 88-455.)
This Act takes effect upon