| 1 | 1 | | 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB1321 Introduced , by Rep. Dan Ugaste SYNOPSIS AS INTRODUCED: 35 ILCS 200/30-32 new Amends the Property Tax Code. Provides that no taxing district may hold more than 150% of the previous levy year's property tax collections in cash or cash-equivalent assets. Provides that excess amounts shall be refunded to taxpayers. Effective immediately. LRB104 03217 HLH 13238 b A BILL FOR 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB1321 Introduced , by Rep. Dan Ugaste SYNOPSIS AS INTRODUCED: 35 ILCS 200/30-32 new 35 ILCS 200/30-32 new Amends the Property Tax Code. Provides that no taxing district may hold more than 150% of the previous levy year's property tax collections in cash or cash-equivalent assets. Provides that excess amounts shall be refunded to taxpayers. Effective immediately. LRB104 03217 HLH 13238 b LRB104 03217 HLH 13238 b A BILL FOR |
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| 2 | 2 | | 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB1321 Introduced , by Rep. Dan Ugaste SYNOPSIS AS INTRODUCED: |
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| 3 | 3 | | 35 ILCS 200/30-32 new 35 ILCS 200/30-32 new |
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| 4 | 4 | | 35 ILCS 200/30-32 new |
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| 5 | 5 | | Amends the Property Tax Code. Provides that no taxing district may hold more than 150% of the previous levy year's property tax collections in cash or cash-equivalent assets. Provides that excess amounts shall be refunded to taxpayers. Effective immediately. |
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| 6 | 6 | | LRB104 03217 HLH 13238 b LRB104 03217 HLH 13238 b |
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| 7 | 7 | | LRB104 03217 HLH 13238 b |
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| 8 | 8 | | A BILL FOR |
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| 9 | 9 | | HB1321LRB104 03217 HLH 13238 b HB1321 LRB104 03217 HLH 13238 b |
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| 10 | 10 | | HB1321 LRB104 03217 HLH 13238 b |
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| 11 | 11 | | 1 AN ACT concerning local government. |
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| 12 | 12 | | 2 Be it enacted by the People of the State of Illinois, |
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| 13 | 13 | | 3 represented in the General Assembly: |
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| 14 | 14 | | 4 Section 5. The Property Tax Code is amended by adding |
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| 15 | 15 | | 5 Section 30-32 as follows: |
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| 16 | 16 | | 6 (35 ILCS 200/30-32 new) |
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| 17 | 17 | | 7 Sec. 30-32. Limit on surplus funds. No taxing district may |
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| 18 | 18 | | 8 hold more than 150% of the previous levy year's property tax |
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| 19 | 19 | | 9 collections in cash or cash-equivalent assets. If, at the end |
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| 20 | 20 | | 10 of any fiscal quarter, the taxing district has more than that |
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| 21 | 21 | | 11 amount in cash or cash-equivalent assets, then the excess |
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| 22 | 22 | | 12 amount shall be refunded to taxpayers pro rata based on each |
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| 23 | 23 | | 13 taxpayer's percentage of the total levy for the previous year. |
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| 27 | 27 | | 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB1321 Introduced , by Rep. Dan Ugaste SYNOPSIS AS INTRODUCED: |
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| 28 | 28 | | 35 ILCS 200/30-32 new 35 ILCS 200/30-32 new |
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| 29 | 29 | | 35 ILCS 200/30-32 new |
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| 30 | 30 | | Amends the Property Tax Code. Provides that no taxing district may hold more than 150% of the previous levy year's property tax collections in cash or cash-equivalent assets. Provides that excess amounts shall be refunded to taxpayers. Effective immediately. |
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| 31 | 31 | | LRB104 03217 HLH 13238 b LRB104 03217 HLH 13238 b |
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| 32 | 32 | | LRB104 03217 HLH 13238 b |
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| 33 | 33 | | A BILL FOR |
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| 39 | 39 | | 35 ILCS 200/30-32 new |
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| 43 | 43 | | LRB104 03217 HLH 13238 b |
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| 53 | 53 | | HB1321 LRB104 03217 HLH 13238 b |
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