IL HB0320

Applies the Property Tax Extension Limitation Law (PTELL) to all taxing districts, including home rule units, beginning with the 2019 levy year.

For the 2019 levy year, reduces the limiting rate by 5% from the district's 2018 aggregate extension; for 2020, reduces it by 10% from the 2018 extension.

Beginning with the 2021 levy year, sets the extension limitation at 0%, eliminating growth in property tax extensions beyond recovery of value from new property and tax increment areas.

Preempts home rule authority by establishing this as a constitutional limitation on the taxing power of home rule units.

Exempts the state from reimbursing local governments for implementation costs under the State Mandates Act; takes effect immediately upon becoming law.