Rep. Michael Tryon
Filed: 4/7/2005
 
 

 




 

 		












09400HB3602ham001

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AMENDMENT TO HOUSE BILL 3602 




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    AMENDMENT NO. ______. Amend House Bill 3602  

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by replacing everything after the enacting clause with the 
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following:

 
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    "Section 5. The Property Tax Code is amended  by changing 
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Section 18-230 as follows:
 



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    (35 ILCS 200/18-230)



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    Sec. 18-230. Rate increase or decrease factor. When a new 
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rate or a rate increase or decrease, first effective for the 
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current levy year, has been approved by referendum, the 
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procedure for adding the rate increase is to add the total rate 
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increase approved by the referendum to the total limited rate 
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of all funds subject to this Law.  The rate increase or decrease 
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is determined by subtracting the prior maximum rate for the 
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fund or funds, approved by referenda, from the newly 
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established maximum rate or rates approved.  For a taxing 
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district for which a new rate or rate increase has been 
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approved by referendum that did not implement the full rate 
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increase as approved by the referendum, the amount remaining 
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must be adjusted, following the same procedure as set forth in 
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the initial year, 4 levy years after the year of the referendum 
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approval. If a district desires to increase revenue more than  
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the above stated formula, the  district must follow the 
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procedures set forth in Section 18-205.
When a new rate or a 
 


 






09400HB3602ham001
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LRB094 10401 BDD 44637 a




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rate
increase or decrease first effective for the current levy 
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year has been
approved by referendum, the aggregate extension 
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base, as adjusted in Sections
18-215 and 18-220, shall be 
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multiplied by a rate increase (or decrease) factor.
The 
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numerator of the rate increase (or decrease) factor is the 
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total combined
rate for the funds that made up the aggregate 
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extension for the taxing district
for the prior year plus the 
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rate increase approved or minus the rate decrease
approved. The 
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denominator of the rate increase or decrease factor is the 
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total
combined rate for the funds that made up the aggregate 
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extension for the prior
year.  For those taxing districts for 
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which a new rate or a rate increase has
been approved by 
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referendum held after December 31, 1988, and
that did not 
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increase their rate to the new maximum rate for that fund, the

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rate increase factor shall be adjusted for 4 levy years after 
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the year
of the referendum by a factor the numerator of which 
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is the portion of the
new or increased rate for which taxes 
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were not extended plus the aggregate
rate in effect for the 
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levy year prior to the levy year in which the
referendum was 
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passed and the denominator of which is the aggregate rate in

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effect for the levy year prior to the levy year in which the 
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referendum
was passed.

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(Source: P.A. 87-17; 88-455.)".