Senate Bill 135 Summary

• Eliminates the freeze on maximum property tax levies for civil taxing units in Lake County that was previously in effect unless a local option income tax for property tax relief was in effect.

• Removes the requirement that Lake County taxing units use an assessed value growth quotient of one (1) unless a 1% tax rate was in effect under specified income tax statutes.

• Makes the amendment applicable to property taxes imposed for assessment dates after February 28, 2011.

• Declares an emergency for the act, making it effective upon passage.

• The amendment provision expires January 1, 2015.