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IL SB0355
Bill
Status
Introduced
2/19/2021
Primary Sponsor
Don Harmon
Click for details
AI Summary
- Amends Section 1-55 of the Property Tax Code (35 ILCS 200/1-55)
- Makes a technical correction by removing a duplicate instance of the word "the" in the definition of "33 1/3%"
- Clarifies that 33 1/3% equals 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 any changes in assessment levels implemented since the data for the studies were collected
Legislative Description
REVENUE-TECH
Last Action
Chief Sponsor Changed to Sen. Don Harmon
12/31/2022
Committee Referrals
Assignments2/19/2021
Full Bill Text
No bill text available