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Amends the Property Tax Extension Limitation Law in the Property Tax Code. Provides that, if a taxing district grants a property tax abatement for a defined period of time measured in levy years, then, for the first levy year after the expiration of the abatement, the district's aggregate extension base shall be the taxing district's last preceding aggregate extension, subject to certain adjustments, plus the amount of the expired abatement for the previous levy year. Effective immediately.
Introduced
Jan 28, 2025
Last Action
Mar 21, 2025
Session
IL 104th
Sponsors
1 primary · 0 co
Rule 19(a) / Re-referred to Rules Committee
To Property Tax Subcommittee
Assigned to Revenue & Finance Committee
First Reading
Referred to Rules Committee
Filed with the Clerk by Rep. Christopher "C.D." Davidsmeyer
Get a plain-English explanation of what this bill does, who it affects, and why it matters.
Rule 19(a) / Re-referred to Rules Committee
Christopher "C.D." Davidsmeyer