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


Sen. Linda Holmes

Filed: 3/14/2014





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2    AMENDMENT NO. ______. Amend Senate Bill 347 by replacing
3everything after the enacting clause with the following:
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



09800SB0347sam001- 2 -LRB098 04578 HLH 56796 a

1extended as one cent.
2(Source: P.A. 87-17; 88-455.)
3    Section 99. Effective date. This Act takes effect upon
4becoming law.".