IL HB1539

Amends the Property Tax Code Section 18-185 to revise definitions and provisions of the Property Tax Extension Limitation Law

Specifies that for levy year 2022, Township High School District Number 211 in Cook County shall have an aggregate extension base equal to what the district's aggregate extension for levy year 2021 would have been at the limiting rate for levy year 2021

Corrects references to "Public Act 89-718" (effective March 7, 1997) in place of "this amendatory Act of 1997" regarding dates for bond payment obligations and limiting rate calculations

Clarifies the definition of "recovered tax increment value" by changing references from "Tax Increment Allocation Development Act" to "Tax Increment Allocation Redevelopment Act"

Updates statutory provisions affecting how property tax extensions are calculated for affected counties and taxing districts, particularly regarding bond debt service and pension fund contributions