IL HB3009

Amends the Illinois Property Tax Code by adding Section 18-163 to establish a rate cap for municipalities with high poverty rates.

Limits the aggregate tax rate on property located in municipalities where at least 60% of households qualify for the national school lunch program to a maximum of 3.5%.

Requires the county clerk to proportionally reduce tax extensions for each taxing district within the municipality if the rate reduction is necessary to comply with the 3.5% cap.

Takes effect immediately upon becoming law.