PTELL-RESERVES House SponsorsRep. Fred Crespo-Sam Yingling-Carol Sente-Jack D. Franks-David McSweeney, Natalie A. Manley, Michelle Mussman, Stephanie A. Kifowit and Martin J. Moylan 1/10/2017HouseSession Sine Die 35 ILCS 200/18-18535 ILCS 200/18-20535 ILCS 200/18-242 new30 ILCS 805/8.39 new Amends the Property Tax Extension Limitation Law in the Property Tax Code. Provides that, if, at the end of any levy year, a taxing district has reserves of 50% or more of its operating budget for that levy year, then, for the next levy year, "extension limitation" means 0% or the rate of increase approved by the voters. Preempts the power of home rule units to tax. Effective immediately. 8/5/2015HouseFiled with the Clerk by Rep. Fred Crespo 8/5/2015HouseFirst Reading 8/5/2015HouseReferred to Rules Committee 8/27/2015HouseAdded Chief Co-Sponsor Rep. Sam Yingling 9/10/2015HouseAdded Chief Co-Sponsor Rep. Carol Sente 9/24/2015HouseAdded Chief Co-Sponsor Rep. Jack D. Franks 9/24/2015HouseAdded Chief Co-Sponsor Rep. David McSweeney 9/24/2015HouseAdded Co-Sponsor Rep. Natalie A. Manley 9/24/2015HouseAdded Co-Sponsor Rep. Michelle Mussman 9/24/2015HouseAdded Co-Sponsor Rep. Stephanie A. Kifowit 9/24/2015HouseAdded Co-Sponsor Rep. Martin J. Moylan 3/23/2016HouseAssigned to Revenue & Finance Committee 3/29/2016HouseTo Property Tax Subcommittee 4/8/2016HouseRule 19(a) / Re-referred to Rules Committee 1/10/2017HouseSession Sine Die