SB 196 Illinois Senate · 103rd Regular Session

PTELL-AGGREGATE EXTENSION

Summary
Amends the Property Tax Extension Limitation Law in the Property Tax Code. Provides that a taxing district shall reduce its aggregate extension base for the purpose of lowering its limiting rate for future years upon referendum approval initiated by the submission of a petition by the voters of the district. Provides that the extension limitation shall be: (a) the lesser of 5% or the average percentage increase in the Consumer Price Index for the 10 years immediately preceding the levy year for which the extension limitation is being calculated; or (b) the rate of increase approved by the voters. Effective immediately.
Bill status in committee 1 of 4 stages cleared
Introduction
Jan 2023
Committee Review
Floor Vote
Governor
Introduced Jan 31, 2023 Last action Jan 31, 2023
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Total actions
3
Key actions
0
Committee
1
Jan 31, 2023
Committee
Referred to Assignments
lower
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Dan McConchie
Dan McConchie
RRepublican
IL
26