IL HB2697

School districts subject to the Property Tax Extension Limitation Law may exceed the established educational tax rate starting with the 2017 levy year and all subsequent years, provided the total rate does not exceed the district's limiting rate under the cap law.

Amends Section 18-190 of the Property Tax Code to add an exception allowing educational tax levies to be extended above referendum or statutory rates while remaining within the district's overall limiting rate ceiling.

Amends Section 17-2 of the School Code to permit school districts to levy taxes for educational purposes above established rates without exceeding their limiting rate under the Property Tax Extension Limitation Law.

The bill becomes effective immediately upon enactment.