IL HB5764

For levy years 2018 and 2019, the Property Tax Extension Limitation Law applies to all non-home rule taxing districts, with an extension limitation of 0% or voter-approved increases.

Extension limitation is defined as 0% for 2018-2019 levy years (versus the standard 5% or Consumer Price Index increase for other years), unless voters approve a higher rate by referendum.

Debt service extension bases may not be increased during levy years 2018 or 2019, and no referenda under Section 18-214 may be submitted for these two years.

Referendum language on ballot propositions is updated to reference the extension limitation as defined in Section 18-185, allowing flexibility for the 0% limitation in 2018-2019.

State Mandates Act is amended to exempt the implementation of this bill from state reimbursement requirements; bill takes effect immediately upon becoming law.