92nd General Assembly
Summary of HB1999
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House Sponsors:
GRANBERG.

Short description: 
PROP TAX-EXTENSION LIMITATION                                              

Synopsis of Bill as introduced:
        Amends the Property Tax Code.  Provides that for  a  municipality      
   that  increased  in population to 5,000 or above, as determined by the      
   most recent federal decennial census,  "extension  limitation"  means,      
   for  only  the  levy  year  following the determination by the federal      
   decennial census that the municipality's population has  increased  to      
   5,000  or  above,  the  lesser of 5% or the percentage increase in the      
   Consumer Price Index during the 12-month calendar year  preceding  the      
   levy  year  plus the additional amount required to fund the first year      
   of a police pension, fire pension, and Illinois  Municipal  Retirement      
   Fund  pension  mandated  as a result of the municipality's increase in      
   population to  5,000  or  above,  which  amount  shall  thereafter  be      
   included in the taxing district's aggregate extension base.                 
          FISCAL NOTE (Department of Revenue)                                  
          HB 1999 is a local government issue and does not create a            
          fiscal impact with State receipts or the Department.                 
          STATE MANDATES NOTE (Dept. of Commerce & Community Affairs)          
          In the opinion of the Department of Commerce and Community           
          Affairs (DCCA), HB1999 fails to meet the definition of a State       
          mandate under the State Mandates Act.                                
 
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


   END OF INQUIRY 



 Full Text  Bill Status