IL HB4434

Adds automatic tax levy provision for municipalities that fail to adopt a tax levy ordinance in any year, requiring the county clerk to extend rates for each fund based on the most recent levy year when the municipality levied taxes for general purposes.

The automatic rate extended shall be the lesser of: (1) the rate that produces the same amount levied in the most recent general purposes levy year, or (2) the maximum rate permitted by law for that fund.

Applies to Section 8-3-1 of the Illinois Municipal Code governing municipal tax levy procedures and authority.

Takes effect upon becoming law.