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IL SB0528
Bill
Status
Failed
1/12/2011
Primary Sponsor
John Cullerton
Click for details
AI Summary
- Amends the Property Tax Code Section 1-55 concerning the definition of "33 1/3%"
- Makes a technical correction by removing a redundant word in the section defining 33 1/3% as one-third of fair cash value of property
- Defines 33 1/3% based on the Department's sales ratio studies for the 3 most recent years preceding the assessment year
- Requires adjustment of the definition to account for any changes in assessment levels implemented since the data for studies were collected
- Introduced February 6, 2009, by Senator John J. Cullerton
Legislative Description
REVENUE-TECH
Last Action
Session Sine Die
1/12/2011
Committee Referrals
Assignments8/15/2009
Executive3/5/2009
Assignments2/6/2009
Full Bill Text
No bill text available