Senate Sponsors: RADOGNO. House Sponsors: FANTIN-LYONS,EILEEN-MCCARTHY-CROTTY-BROSNAHAN Short description: PROP TX-PRIOR YR LEVY Synopsis of Bill as introduced: Amends the Property Tax Code. Deletes a provision in the Section concerning the computation of rates stating that the equalized assessed value of all property for the computation of the amount to be extended in a county of 3,000,000 or more inhabitants shall be the equalized assessed value of the property for the year immediately preceding the levy year as established by the assessment and equalization process for the year immediately prior to the levy year. Effective immediately. HOUSE AMENDMENT NO. 1. Deletes everything. Amends the Property Tax Code. Provides that beginning January 1, 1998 and thereafter, the equalized assessed value of all property for the computation of the amount to be extended within a county of 3,000,000 or more inhabitants shall be the sum of (i) the equalized assessed value of such property for the year immediately preceding the levy year, (ii) the equalized assessed value of any property that qualifies as new property or annexed property in the current year, and (iii) the recovered tax increment value for the current year, less the equalized assessed value of any property that qualifies as disconnected property during the current year. FISCAL NOTE, H-AM 1 (Dept. of Revenue) SB 715, amended by H-am 1, is local in nature and does not have a fiscal impact on this Dept. Last action on Bill: PUBLIC ACT.............................. 90-0320 Last action date: 97-08-01 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 0 END OF INQUIRY Full Text Bill Status