IL HB2834

Amends the Property Tax Code definition of "aggregate extension base" for levy years 2016 and later to mean the greater of: (A) the taxing district's last preceding aggregate extension limit, or (B) the taxing district's last preceding aggregate extension as adjusted under existing law.

Defines "aggregate extension limit" as the district's last preceding aggregate extension if the taxing district had utilized the maximum limiting rate permitted without a referendum.

For levy years before 2016, retains the existing definition of "aggregate extension base" as the taxing district's last preceding aggregate extension adjusted under applicable sections.

Effective immediately upon enactment.