HB0376 Summary

• Amends the Property Tax Extension Limitation Law to allow taxing districts to suspend their property tax extension for nursing home purposes by ordinance for a specified period of time.

• When a taxing district resumes its full nursing home extension after suspension, the aggregate extension base is calculated as if the district had levied at maximum rate during the suspension years.

• Permits a taxing district to pass an ordinance within 5 years after ending a suspension to recapture all or part of the nursing home taxes that could have been levied during the suspension period.

• Effective immediately upon enactment.