Illinois 2023-2024 Regular Session

Illinois House Bill HB4225 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB4225 Introduced , by Rep. Tom Weber SYNOPSIS AS INTRODUCED: 35 ILCS 200/18-161 new Amends the Property Tax Code. Provides that, beginning in taxable year 2024, no taxing district, other than a home rule unit, may levy a tax on any parcel of real property that is more than 108% of the tax levied by that taxing district on that property in the immediately preceding taxable year unless (i) the increase is attributable to substantial improvements to the property, (ii) the taxing district did not levy a tax against the property in the previous taxable year, or (iii) the increase is attributable to a special service area. Provides that a taxing district may elect to be exempt from those provisions for one or more taxable years if the exemption is approved by referendum. Effective immediately. LRB103 35287 HLH 65320 b A BILL FOR 103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB4225 Introduced , by Rep. Tom Weber SYNOPSIS AS INTRODUCED: 35 ILCS 200/18-161 new 35 ILCS 200/18-161 new Amends the Property Tax Code. Provides that, beginning in taxable year 2024, no taxing district, other than a home rule unit, may levy a tax on any parcel of real property that is more than 108% of the tax levied by that taxing district on that property in the immediately preceding taxable year unless (i) the increase is attributable to substantial improvements to the property, (ii) the taxing district did not levy a tax against the property in the previous taxable year, or (iii) the increase is attributable to a special service area. Provides that a taxing district may elect to be exempt from those provisions for one or more taxable years if the exemption is approved by referendum. Effective immediately. LRB103 35287 HLH 65320 b LRB103 35287 HLH 65320 b A BILL FOR
2	2	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB4225 Introduced , by Rep. Tom Weber SYNOPSIS AS INTRODUCED:
3	3	35 ILCS 200/18-161 new 35 ILCS 200/18-161 new
4	4	35 ILCS 200/18-161 new
5	5	Amends the Property Tax Code. Provides that, beginning in taxable year 2024, no taxing district, other than a home rule unit, may levy a tax on any parcel of real property that is more than 108% of the tax levied by that taxing district on that property in the immediately preceding taxable year unless (i) the increase is attributable to substantial improvements to the property, (ii) the taxing district did not levy a tax against the property in the previous taxable year, or (iii) the increase is attributable to a special service area. Provides that a taxing district may elect to be exempt from those provisions for one or more taxable years if the exemption is approved by referendum. Effective immediately.
6	6	LRB103 35287 HLH 65320 b LRB103 35287 HLH 65320 b
7	7	LRB103 35287 HLH 65320 b
8	8	A BILL FOR
9	9	HB4225LRB103 35287 HLH 65320 b HB4225 LRB103 35287 HLH 65320 b
10	10	HB4225 LRB103 35287 HLH 65320 b
11	11	1 AN ACT concerning revenue.
12	12	2 Be it enacted by the People of the State of Illinois,
13	13	3 represented in the General Assembly:
14	14	4 Section 5. The Property Tax Code is amended by adding
15	15	5 Section 18-161 as follows:
16	16	6 (35 ILCS 200/18-161 new)
17	17	7 Sec. 18-161. Taxing district extension limitation.
18	18	8 (a) Notwithstanding any other provision of law, beginning
19	19	9 in taxable year 2024, no taxing district may levy a tax on any
20	20	10 parcel of real property under this Code that is more than 108%
21	21	11 of the tax levied by that taxing district on that property in
22	22	12 the immediately preceding taxable year unless (i) the increase
23	23	13 is attributable to substantial improvements to the property,
24	24	14 (ii) the taxing district did not levy a tax against the
25	25	15 property in the previous taxable year, or (iii) the increase
26	26	16 is attributable to a special service area.
27	27	17 (b) A taxing district may elect to be exempt from the
28	28	18 provisions of subsection (a) for one or more taxable years if
29	29	19 the exemption is approved by a referendum held before January
30	30	20 1 of the first taxable year during which the exemption
31	31	21 applies. Referenda shall be conducted at a regularly scheduled
32	32	22 election held in accordance with the Election Code. The
33	33	23 question shall be presented in substantially the following
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37	37	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB4225 Introduced , by Rep. Tom Weber SYNOPSIS AS INTRODUCED:
38	38	35 ILCS 200/18-161 new 35 ILCS 200/18-161 new
39	39	35 ILCS 200/18-161 new
40	40	Amends the Property Tax Code. Provides that, beginning in taxable year 2024, no taxing district, other than a home rule unit, may levy a tax on any parcel of real property that is more than 108% of the tax levied by that taxing district on that property in the immediately preceding taxable year unless (i) the increase is attributable to substantial improvements to the property, (ii) the taxing district did not levy a tax against the property in the previous taxable year, or (iii) the increase is attributable to a special service area. Provides that a taxing district may elect to be exempt from those provisions for one or more taxable years if the exemption is approved by referendum. Effective immediately.
41	41	LRB103 35287 HLH 65320 b LRB103 35287 HLH 65320 b
42	42	LRB103 35287 HLH 65320 b
43	43	A BILL FOR
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49	49	35 ILCS 200/18-161 new
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53	53	LRB103 35287 HLH 65320 b
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63	63	HB4225 LRB103 35287 HLH 65320 b
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66	66	HB4225- 2 -LRB103 35287 HLH 65320 b HB4225 - 2 - LRB103 35287 HLH 65320 b
67	67	HB4225 - 2 - LRB103 35287 HLH 65320 b
68	68	1 form:
69	69	2 "For (taxable years), shall (taxing district) be
70	70	3 exempt from the provisions of Section 18-161 of the
71	71	4 Property Tax Code, which limits increases in the taxes
72	72	5 levied by the taxing against real property to 8% per
73	73	6 taxable year?"
74	74	7 The taxing district may include the following as
75	75	8 supplemental information on the ballot:
76	76	9 "A "yes" vote means that (taxing district) would be
77	77	10 allowed to increase the amount of taxes levied against
78	78	11 each parcel of property by more than 8%."
79	79	12 The votes must be recorded as "Yes" or "No".
80	80	13 If a majority of voters voting on the issue approves the
81	81	14 exemption, then the taxing district shall be exempt from the
82	82	15 provisions of this Section for the taxable years specified.
83	83	16 (c) As used in this Section:
84	84	17 "Taxing district" has the same meaning provided in Section
85	85	18 1-150, except that "taxing district" does not include home
86	86	19 rule units.
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92	92	HB4225 - 2 - LRB103 35287 HLH 65320 b