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IL SB0512
Bill
Status
Introduced
1/28/2015
Primary Sponsor
Mattie Hunter
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 duplicate language in the section definition
- Defines 33 1/3% as one-third of the fair cash value of property as determined by Department sales ratio studies for the 3 most recent years preceding the assessment year
- Adjusts the definition to account for any changes in assessment levels implemented since the data for the studies were collected
Legislative Description
REVENUE-TECH
Last Action
Senate Floor Amendment No. 1 Pursuant to Senate Rule 3-9(b) / Referred to Assignments
7/31/2016
Committee Referrals
Assignments10/10/2015
Executive3/18/2015
Assignments1/28/2015
Full Bill Text
No bill text available