HB0821 Summary

• Amends the Property Tax Extension Limitation Law (PTELL) to change how school districts calculate their "aggregate extension base" starting with levy year 2019.

• For levy years 2019 and later, school districts' aggregate extension base equals the greater of either their last preceding aggregate extension limit or their last preceding aggregate extension (as adjusted).

• Defines "aggregate extension limit" as a school district's last preceding aggregate extension if the district used the maximum limiting rate permitted without referendum for each of the 3 immediately preceding levy years.

• Maintains the previous calculation method for school districts for levy years before 2019 and for all non-school taxing districts.

• Takes effect immediately upon becoming law.