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IL HB1360
Bill
Status
Failed
1/7/2025
Primary Sponsor
Martin McLaughlin
Click for details
AI Summary
- Amends the Property Tax Extension Limitation Law to change how the limiting rate is calculated for taxing districts that reduced their aggregate extension in previous years
- Allows taxing districts to use the highest aggregate extension from any year the district was subject to the law, rather than being limited to the last 3 preceding levy years
- Prohibits using an aggregate extension from a levy year in which the taxing district was authorized to temporarily increase its limiting rate or extension limitation under Sections 18-190 or 18-205
- Removes the previous exception that allowed school districts to use reduced extensions for educational purposes under Section 18-206 when calculating the limiting rate
Legislative Description
PROP TX-AGGREGATE EXTENSION
Last Action
Session Sine Die
1/7/2025
Committee Referrals
Rules3/10/2023
Property Tax2/23/2023
Revenue & Finance2/15/2023
Rules1/31/2023
Full Bill Text
No bill text available