HB0336 Summary

• Beginning with the 2017 levy year, the Property Tax Extension Limitation Law applies to all non-home rule taxing districts statewide, expanding from its previous limited geographic application.

• Changes the extension limitation from "the lesser of 5% or the Consumer Price Index increase" to 0% beginning in levy year 2017, meaning taxing districts can only increase extensions if voters approve a higher rate by referendum.

• Modifies the debt service extension base to increase by 0% annually beginning in levy year 2016 (instead of the prior 5% or CPI standard), unless voters approve otherwise.

• Eliminates the ability to submit removal referendums under Section 18-214 for taxable year 2017 and thereafter, making the law permanent for non-home rule districts.

• Amends the State Mandates Act to exempt implementation costs from state reimbursement requirements and takes effect immediately upon enactment.