IL HB4465

Amends the Property Tax Extension Limitation Law (PTELL) in the Property Tax Code to address how taxing districts calculate their aggregate extension base after providing property tax abatements for nuclear facilities.

Beginning in levy year 2026, taxing districts that previously granted property tax abatements under the Energy Community Reinvestment Act while subject to PTELL will have their aggregate extension base recalculated.

The recalculation treats the district's aggregate extension for the abatement year as if it had included the abated amount, allowing districts to recover lost taxing capacity in subsequent years.

Applies to non-home rule taxing districts in counties with 3,000,000+ inhabitants or counties contiguous to such large counties (effectively the Chicago metropolitan area).

Takes effect immediately upon becoming law.