Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process.
Recent laws may not yet be included in the ILCS database, but they are found on this site as Public
soon after they become law. For information concerning the relationship between statutes and Public Acts, refer to the
Because the statute database is maintained primarily for legislative drafting purposes,
statutory changes are sometimes included in the statute database before they take effect.
If the source note at the end of a Section of the statutes includes a Public Act that has
not yet taken effect, the version of the law that is currently in effect may have already
been removed from the database and you should refer to that Public Act to see the changes
made to the current law.
(35 ILCS 200/18-212)
Referendum on debt service extension base.
A taxing district
may establish or increase its debt service extension base if
(i) that taxing district holds a referendum before the date on which the levy
be filed with the county clerk of the county or counties in which the taxing
district is situated and (ii) a majority of voters voting on the issue approves
the establishment of or increase in the debt service extension base. A debt service extension base established or increased by a referendum held pursuant to this Section after February 2, 2010, shall be increased each year, commencing with the first levy year beginning after the date of the referendum, by the lesser of 5% or the percentage increase in the Consumer Price Index during the 12-month calendar year preceding the levy year if the optional language concerning the annual increase is included in the question submitted to the electors of the taxing district. Referenda
Section shall be conducted at a regularly scheduled election in accordance with
the Election Code. The governing body of the taxing district shall certify the
question to the proper election authorities who shall submit the question to
the electors of the taxing district in substantially the following form:
"Shall the debt service extension base under the Property
Tax Extension Limitation Law for ... (taxing district name) ... for payment of principal and interest on limited bonds be .... ((established at $ ....) . (or) (increased from $ .... to $ ....)) .. for the ..... levy year and all subsequent levy years (optional language: , such debt service extension base to be increased each year by the lesser of 5% or the percentage increase in the Consumer Price Index during the 12-month calendar year preceding the levy year)?"
Votes on the question shall be recorded as "Yes" or "No".
If a majority of voters voting on the issue approves the establishment of or
in the debt service extension base, the establishment of or increase in the
service extension base shall be applicable for the levy years specified.
(Source: P.A. 96-1202, eff. 7-22-10.)