PROP TX-ASSESSMENTS House SponsorsRep. Sidney H. Mathias-Tom Cross-Kent Gaffney-Michael P. McAuliffe-Thomas Morrison, Dwight Kay, Mike Bost and Brad E. Halbrook 1/8/2013HouseSession Sine Die 35 ILCS 200/1-55 Amends the Property Tax Code. Provides that, for the purposes of the definition of 33 1/3%, the fair cash value of property is determined by the lesser of: (1) the Department of Revenue's sales ratio studies for the 3 most recent years preceding the assessment year; or (2) the valuation of the property in the year immediately preceding the assessment year (under the current law, the fair cash value is based on the sales ratio studies). Effective immediately. 2/16/2012HouseFiled with the Clerk by Rep. Sidney H. Mathias 2/16/2012HouseFirst Reading 2/16/2012HouseReferred to Rules Committee 2/22/2012HouseAdded Chief Co-Sponsor Rep. Tom Cross 2/24/2012HouseAdded Chief Co-Sponsor Rep. Kent Gaffney 2/24/2012HouseAdded Chief Co-Sponsor Rep. Michael P. McAuliffe 2/24/2012HouseAdded Chief Co-Sponsor Rep. Thomas Morrison 2/24/2012HouseAdded Co-Sponsor Rep. Dwight Kay 2/24/2012HouseAdded Co-Sponsor Rep. Mike Bost 5/10/2012HouseAdded Co-Sponsor Rep. Brad E. Halbrook 1/8/2013HouseSession Sine Die