HB4724 Summary

• Amends the Property Tax Extension Limitation Law (PTELL) in the Property Tax Code by modifying Section 18-185.

• Exempts special purpose levies made by fire protection districts for contributions to firefighter's pension funds from the definition of "aggregate extension."

• The exemption applies to special purpose levies made for this purpose by a fire protection district, consistent with existing exemptions for firefighter pension contributions certified under Section 4-134 of the Illinois Pension Code.

• Changes apply to all taxing district classifications under PTELL (those subject before 1995, those subject after 1995, and those subject by referendum).