PROP TX-ASSESSMENTS House SponsorsRep. Michael P. McAuliffe 12/3/2014HouseSession 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. 2/14/2014HouseFiled with the Clerk by Rep. Michael P. McAuliffe 2/14/2014HouseFirst Reading 2/14/2014HouseReferred to Rules Committee 3/6/2014HouseAssigned to Revenue & Finance Committee 3/11/2014HouseTo Property Tax Subcommittee 3/28/2014HouseRule 19(a) / Re-referred to Rules Committee 12/3/2014HouseSession Sine Die