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IL HB5011
Bill
Status
Failed
1/8/2013
Primary Sponsor
Eddie Jackson
Click for details
AI Summary
- Amends Section 1-55 of the Property Tax Code concerning the definition of "33 1/3%"
- Makes a technical correction by removing a duplicate word ("the") in the statutory language defining one-third of fair cash value
- Maintains the existing definition that references the Department's sales ratio studies from the 3 most recent years preceding the assessment year
- Preserves adjustment provisions for any changes in assessment levels implemented since the studies' data collection
Legislative Description
REVENUE-TECH
Last Action
Session Sine Die
1/8/2013
Committee Referrals
Rules2/7/2012
Full Bill Text
No bill text available