IL HB4568

Amends Section 18-190 of the Property Tax Code to clarify referendum requirements for taxing districts seeking to levy new tax rates or increase limiting rates under the Property Tax Extension Limitation Law.

Specifies that levies authorized by Sections 4-118, 21-110, and 21-110.1 of the Illinois Pension Code are not considered new rates and do not require referendum approval.

Establishes standardized ballot language and supplemental information requirements for referendum propositions, including estimated tax amounts for a $100,000 single-family residence and multi-year projections based on average property value changes.

Allows limiting rate increases to be effective for up to 4 consecutive levy years and permits taxing districts to elect retroactive effectiveness to the prior levy year if referendum results are canvassed more than 30 days before the prior year's tax extension deadline.

Clarifies that rates for levies subject to backdoor referendums are not new rates if a levy was made for that fund in one or more of the preceding 3 levy years.