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IL SB1932
Bill
AI Summary
- Amends Section 1-55 of the Property Tax Code (35 ILCS 200/1-55)
- Makes a technical correction to the definition of "33 1/3%" by removing a redundant instance of the word "the"
- Maintains the definition that "33 1/3%" means one-third of the fair cash value of property as determined by the Department's sales ratio studies for the 3 most recent years preceding the assessment year
- Applies adjustments to account for changes in assessment levels implemented since the sales ratio data were collected
Legislative Description
REVENUE-TECH
Last Action
Session Sine Die
1/9/2019
Committee Referrals
Assignments2/10/2017
Full Bill Text
No bill text available