Date	Chamber	Action
1/9/2007	House	Session Sine Die

Statutes Amended In Order of Appearance

New Act

30 ILCS 105/5.640 new

30 ILCS 105/5.641 new

35 ILCS 200/18-45

35 ILCS 200/18-185

105 ILCS 5/18-8.05

Synopsis As Introduced
Creates the Local Option Property Tax Reduction Act and amends the School Code, the Property Tax Code, and the State Finance Act. Authorizes school districts by referendum to impose an income tax on individuals resident of the district at an annual rate not exceeding 2%. Requires the income tax revenues disbursed to a district each year to be used to abate the extension in that year of real property taxes levied by the district. Provides that for purposes of the Property Tax Extension Limitation Law the "aggregate extension base" shall not be reduced by any abatement pursuant to the Local Option Property Tax Reduction Act. Provides for a referendum repeal of the tax or a referendum change in the rate at which the tax is imposed or the percentage of the tax to be used for abatement. Provides for the manner of levying, collecting, and disbursing the tax and for the manner in which the tax revenues are used. Effective immediately.

Actions 

Date	Chamber	Action
2/23/2005	House	Filed with the Clerk by Rep. Dave Winters
2/23/2005	House	Chief Co-Sponsor Rep. Renee Kosel
2/23/2005	House	First Reading
2/23/2005	House	Referred to Rules Committee
3/1/2005	House	Assigned to Revenue Committee
3/10/2005	House	Rule 19(a) / Re-referred to Rules Committee
1/9/2007	House	Session Sine Die

Back To Top