PROP TX-FALLING EAV House SponsorsRep. Jack D. Franks-Ron Sandack 12/3/2014HouseSession Sine Die 35 ILCS 200/18-18535 ILCS 200/18-205 Amends the Property Tax Extension Limitation Law in the Property Tax Code. Provides that, if the total equalized assessed value of all taxable property in the taxing district for the current levy year (excluding new property, recovered tax increment value, and property that is annexed to or disconnected from the taxing district in the current levy year) is less than the total equalized assessed value of all taxable property in the taxing district for the previous levy year, then the extension limitation is (a) 0% or (b) the rate of increase approved by voters (instead of the lesser of 5% or the percentage increase in the Consumer Price Index during the 12-month calendar year preceding the levy year or (b) the rate of increase approved by voters). Effective immediately. 5/9/2014HouseFiled with the Clerk by Rep. Jack D. Franks 5/9/2014HouseAdded Chief Co-Sponsor Rep. Ron Sandack 5/13/2014HouseFirst Reading 5/13/2014HouseReferred to Rules Committee 12/3/2014HouseSession Sine Die