|
| | 98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014
HB0189 Introduced 1/18/2013, by Rep. Katherine Cloonen SYNOPSIS AS INTRODUCED:
|
| |
Amends the Property Tax Code. Provides that, rates may be calculated beyond 3 decimal points to allow the extension to be as close to the levy requested as possible. Effective immediately.
|
| |
| | | FISCAL NOTE ACT MAY APPLY | | HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY |
| | A BILL FOR |
|
|
| | HB0189 | | LRB098 02813 HLH 32821 b |
|
|
| 1 | | AN ACT concerning revenue.
|
| 2 | | Be it enacted by the People of the State of Illinois,
|
| 3 | | represented in the General Assembly:
|
| 4 | | Section 5. The Property Tax Code is amended by changing |
| 5 | | Section 18-140 as follows:
|
| 6 | | (35 ILCS 200/18-140)
|
| 7 | | Sec. 18-140.
Extension upon equalized assessment of |
| 8 | | current levy
year. All taxes shall be extended by each county |
| 9 | | clerk upon the valuation
produced by the equalization and |
| 10 | | assessment of property by the Department for
the levy year. In |
| 11 | | the computation of rates, a fraction of a mill shall be
|
| 12 | | extended as the next higher mill. Rates may be calculated |
| 13 | | beyond 3 decimal points to allow the extension to be as close |
| 14 | | to the levy requested as possible. Each installment of taxes |
| 15 | | shall be extended
in a separate column. Installments shall be |
| 16 | | equal and as to each installment a
fraction of a cent shall be |
| 17 | | extended as one cent.
|
| 18 | | (Source: P.A. 87-17; 88-455.)
|
| 19 | | Section 99. Effective date. This Act takes effect upon |
| 20 | | becoming law.
|