SB 1682 — PROP TX CD-PTELL-RATE INCREASE

(d) made for any taxing district to pay interest or principal on bonds issued to refund or continue to refund bonds issued after October 1, 1991 that were approved by SB1682 Enrolled - 4 - LRB094 07334 BDD 42075 b referendum;

(e) made for any taxing district to pay interest or principal on revenue bonds issued before October 1, 1991 for payment of which a property tax levy or the full faith and credit of the unit of local government is pledged;

however, a tax for the payment of interest or principal on those bonds shall be made only after the governing body of the unit of local government finds that all other sources for payment are insufficient to make those payments;

(f) made for payments under a building commission lease when the lease payments are for the retirement of bonds issued by the commission before October 1, 1991, to pay for the building project;

(g) made for payments due under installment contracts entered into before October 1, 1991;

(h) made for payments of principal and interest on bonds issued under the Metropolitan Water Reclamation District Act to finance construction projects initiated before October 1, 1991;

(i) made for payments of principal and interest on limited bonds, as defined in Section 3 of the Local Government Debt Reform Act, in an amount not to exceed the debt service extension base less the amount in items (b), (c), (e), and (h) of this definition for non-referendum obligations, except obligations initially issued pursuant to referendum;

(j) made for payments of principal and interest on bonds issued under Section 15 of the Local Government Debt Reform Act;

(k) made by a school district that participates in the Special Education District of Lake County, created by special education joint agreement under Section 10-22.31 of the School Code, for payment of the school district’s share of the amounts required to be contributed by the Special Education District of Lake County to the Illinois Municipal Retirement Fund under Article 7 of the Illinois Pension Code;

the amount of any extension under this item (k) shall be certified by the school district to the county clerk;

(l) made to fund expenses of providing joint recreational programs for the handicapped under Section 5-8 of the Park District Code or Section 11-95-14 of the Illinois Municipal Code;

(m) made for temporary relocation loan repayment purposes pursuant to Sections 2-3.77 SB1682 Enrolled - 5 - LRB094 07334 BDD 42075 b and 17-2.2d of the School Code;, and (n) made for payment of principal and interest on any bonds issued under the authority of Section 17-2.2d of the School Code;

and (o) (m) made for contributions to a firefighter’s pension fund created under Article 4 of the Illinois Pension Code, to the extent of the amount certified under item (5) of Section 4-134 of the Illinois Pension Code.

"Aggregate extension" for the taxing districts to which this Law did not apply before the 1995 levy year (except taxing districts subject to this Law in accordance with Section 18-213) means the annual corporate extension for the taxing district and those special purpose extensions that are made annually for the taxing district, excluding special purpose extensions:

(a) made for the taxing district to pay interest or principal on general obligation bonds that were approved by referendum;

(b) made for any taxing district to pay interest or principal on general obligation bonds issued before March 1, 1995;

(c) made for any taxing district to pay interest or principal on bonds issued to refund or continue to refund those bonds issued before March 1, 1995;

(d) made for any taxing district to pay interest or principal on bonds issued to refund or continue to refund bonds issued after March 1, 1995 that were approved by referendum;

(e) made for any taxing district to pay interest or principal on revenue bonds issued before March 1, 1995 for payment of which a property tax levy or the full faith and credit of the unit of local government is pledged;

however, a tax for the payment of interest or principal on those bonds shall be made only after the governing body of the unit of local government finds that all other sources for payment are insufficient to make those payments;

(f) made for payments under a building commission lease when the lease payments are for the retirement of bonds issued by the commission before March 1, 1995 to pay for the building project;

(g) made for payments due under installment contracts entered into before March 1, 1995;

(h) made for payments of principal and interest on bonds issued under the Metropolitan SB1682 Enrolled - 6 - LRB094 07334 BDD 42075 b Water Reclamation District Act to finance construction projects initiated before October 1, 1991;

(h-4) made for stormwater management purposes by the Metropolitan Water Reclamation District of Greater Chicago under Section 12 of the Metropolitan Water Reclamation District Act;

(i) made for payments of principal and interest on limited bonds, as defined in Section 3 of the Local Government Debt Reform Act, in an amount not to exceed the debt service extension base less the amount in items (b), (c), and (e) of this definition for non-referendum obligations, except obligations initially issued pursuant to referendum and bonds described in subsection (h) of this definition;

(j) made for payments of principal and interest on bonds issued under Section 15 of the Local Government Debt Reform Act;

(k) made for payments of principal and interest on bonds authorized by Public Act 88-503 and issued under Section 20a of the Chicago Park District Act for aquarium or museum projects;

(l) made for payments of principal and interest on bonds authorized by Public Act 87-1191 or 93-601 and (i) issued pursuant to Section 21.2 of the Cook County Forest Preserve District Act, (ii) issued under Section 42 of the Cook County Forest Preserve District Act for zoological park projects, or (iii) issued under Section 44.1 of the Cook County Forest Preserve District Act for botanical gardens projects;

(m) made pursuant to Section 34-53.5 of the School Code, whether levied annually or not;

(n) made to fund expenses of providing joint recreational programs for the handicapped under Section 5-8 of the Park District Code or Section 11-95-14 of the Illinois Municipal Code;

(o) made by the Chicago Park District for recreational programs for the handicapped under subsection (c) of Section 7.06 of the Chicago Park District Act;

and (p) made for contributions to a firefighter’s pension fund created under Article 4 of the Illinois Pension Code, to the extent of the amount certified under item (5) of Section 4-134 of the Illinois Pension Code.

"Aggregate extension" for all taxing districts to which this Law applies in accordance with Section 18-213, except for SB1682 Enrolled - 7 - LRB094 07334 BDD 42075 b those taxing districts subject to paragraph (2) of subsection (e) of Section 18-213, means the annual corporate extension for the taxing district and those special purpose extensions that are made annually for the taxing district, excluding special purpose extensions:

(a) made for the taxing district to pay interest or principal on general obligation bonds that were approved by referendum;

(b) made for any taxing district to pay interest or principal on general obligation bonds issued before the date on which the referendum making this Law applicable to the taxing district is held;

(c) made for any taxing district to pay interest or principal on bonds issued to refund or continue to refund those bonds issued before the date on which the referendum making this Law applicable to the taxing district is held;

(d) made for any taxing district to pay interest or principal on bonds issued to refund or continue to refund bonds issued after the date on which the referendum making this Law applicable to the taxing district is held if the bonds were approved by referendum after the date on which the referendum making this Law applicable to the taxing district is held;

(e) made for any taxing district to pay interest or principal on revenue bonds issued before the date on which the referendum making this Law applicable to the taxing district is held for payment of which a property tax levy or the full faith and credit of the unit of local government is pledged;

however, a tax for the payment of interest or principal on those bonds shall be made only after the governing body of the unit of local government finds that all other sources for payment are insufficient to make those payments;

(f) made for payments under a building commission lease when the lease payments are for the retirement of bonds issued by the commission before the date on which the referendum making this Law applicable to the taxing district is held to pay for the building project;

(g) made for payments due under installment contracts entered into before the date on which the referendum making this Law applicable to the taxing district is held;

(h) made for payments of principal and SB1682 Enrolled - 8 - LRB094 07334 BDD 42075 b interest on limited bonds, as defined in Section 3 of the Local Government Debt Reform Act, in an amount not to exceed the debt service extension base less the amount in items (b), (c), and (e) of this definition for non-referendum obligations, except obligations initially issued pursuant to referendum;

(i) made for payments of principal and interest on bonds issued under Section 15 of the Local Government Debt Reform Act;

(j) made for a qualified airport authority to pay interest or principal on general obligation bonds issued for the purpose of paying obligations due under, or financing airport facilities required to be acquired, constructed, installed or equipped pursuant to, contracts entered into before March 1, 1996 (but not including any amendments to such a contract taking effect on or after that date);

(k) made to fund expenses of providing joint recreational programs for the handicapped under Section 5-8 of the Park District Code or Section 11-95-14 of the Illinois Municipal Code;

and (l) made for contributions to a firefighter’s pension fund created under Article 4 of the Illinois Pension Code, to the extent of the amount certified under item (5) of Section 4-134 of the Illinois Pension Code.

"Aggregate extension" for all taxing districts to which this Law applies in accordance with paragraph (2) of subsection (e) of Section 18-213 means the annual corporate extension for the taxing district and those special purpose extensions that are made annually for the taxing district, excluding special purpose extensions:

(a) made for the taxing district to pay interest or principal on general obligation bonds that were approved by referendum;

(b) made for any taxing district to pay interest or principal on general obligation bonds issued before the effective date of this amendatory Act of 1997;

(c) made for any taxing district to pay interest or principal on bonds issued to refund or continue to refund those bonds issued before the effective date of this amendatory Act of 1997;

(d) made for any taxing district to pay interest or principal on bonds issued to refund or continue to refund bonds issued after the effective date of this amendatory Act of 1997 if the bonds SB1682 Enrolled - 9 - LRB094 07334 BDD 42075 b were approved by referendum after the effective date of this amendatory Act of 1997;

(e) made for any taxing district to pay interest or principal on revenue bonds issued before the effective date of this amendatory Act of 1997 for payment of which a property tax levy or the full faith and credit of the unit of local government is pledged;

however, a tax for the payment of interest or principal on those bonds shall be made only after the governing body of the unit of local government finds that all other sources for payment are insufficient to make those payments;

(f) made for payments under a building commission lease when the lease payments are for the retirement of bonds issued by the commission before the effective date of this amendatory Act of 1997 to pay for the building project;

(g) made for payments due under installment contracts entered into before the effective date of this amendatory Act of 1997;

(h) made for payments of principal and interest on limited bonds, as defined in Section 3 of the Local Government Debt Reform Act, in an amount not to exceed the debt service extension base less the amount in items (b), (c), and (e) of this definition for non-referendum obligations, except obligations initially issued pursuant to referendum;

(i) made for payments of principal and interest on bonds issued under Section 15 of the Local Government Debt Reform Act;

(j) made for a qualified airport authority to pay interest or principal on general obligation bonds issued for the purpose of paying obligations due under, or financing airport facilities required to be acquired, constructed, installed or equipped pursuant to, contracts entered into before March 1, 1996 (but not including any amendments to such a contract taking effect on or after that date);

(k) made to fund expenses of providing joint recreational programs for the handicapped under Section 5-8 of the Park District Code or Section 11-95-14 of the Illinois Municipal Code;

and (l) made for contributions to a firefighter’s pension fund created under Article 4 of the Illinois Pension Code, to the extent of the amount certified under item (5) of Section 4-134 of the Illinois Pension Code.

SB1682 Enrolled - 10 - LRB094 07334 BDD 42075 b "Debt service extension base" means an amount equal to that portion of the extension for a taxing district for the 1994 levy year, or for those taxing districts subject to this Law in accordance with Section 18-213, except for those subject to paragraph (2) of subsection (e) of Section 18-213, for the levy year in which the referendum making this Law applicable to the taxing district is held, or for those taxing districts subject to this Law in accordance with paragraph (2) of subsection (e) of Section 18-213 for the 1996 levy year, constituting an extension for payment of principal and interest on bonds issued by the taxing district without referendum, but not including excluded non-referendum bonds.

For park districts (i) that were first subject to this Law in 1991 or 1995 and (ii) whose extension for the 1994 levy year for the payment of principal and interest on bonds issued by the park district without referendum (but not including excluded non-referendum bonds) was less than 51% of the amount for the 1991 levy year constituting an extension for payment of principal and interest on bonds issued by the park district without referendum (but not including excluded non-referendum bonds), "debt service extension base" means an amount equal to that portion of the extension for the 1991 levy year constituting an extension for payment of principal and interest on bonds issued by the park district without referendum (but not including excluded non-referendum bonds).

The debt service extension base may be established or increased as provided under Section 18-212.

"Excluded non-referendum bonds" means (i) bonds authorized by Public Act 88-503 and issued under Section 20a of the Chicago Park District Act for aquarium and museum projects;

(ii) bonds issued under Section 15 of the Local Government Debt Reform Act;

or (iii) refunding obligations issued to refund or to continue to refund obligations initially issued pursuant to referendum.

"Special purpose extensions" include, but are not limited to, extensions for levies made on an annual basis for unemployment and workers’ compensation, self-insurance, SB1682 Enrolled - 11 - LRB094 07334 BDD 42075 b contributions to pension plans, and extensions made pursuant to Section 6-601 of the Illinois Highway Code for a road district’s permanent road fund whether levied annually or not.

The extension for a special service area is not included in the aggregate extension.

"Aggregate extension base" means the taxing district’s last preceding aggregate extension as adjusted under Sections 18-215 through 18-230.

"Levy year" has the same meaning as "year" under Section 1-155.

"New property" means (i) the assessed value, after final board of review or board of appeals action, of new improvements or additions to existing improvements on any parcel of real property that increase the assessed value of that real property during the levy year multiplied by the equalization factor issued by the Department under Section 17-30, (ii) the assessed value, after final board of review or board of appeals action, of real property not exempt from real estate taxation, which real property was exempt from real estate taxation for any portion of the immediately preceding levy year, multiplied by the equalization factor issued by the Department under Section 17-30, and (iii) in counties that classify in accordance with Section 4 of Article IX of the Illinois Constitution, an incentive property’s additional assessed value resulting from a scheduled increase in the level of assessment as applied to the first year final board of review market value.

In addition, the county clerk in a county containing a population of 3,000,000 or more shall include in the 1997 recovered tax increment value for any school district, any recovered tax increment value that was applicable to the 1995 tax year calculations.

"Qualified airport authority" means an airport authority organized under the Airport Authorities Act and located in a county bordering on the State of Wisconsin and having a population in excess of 200,000 and not greater than 500,000.

"Recovered tax increment value" means, except as otherwise SB1682 Enrolled - 12 - LRB094 07334 BDD 42075 b provided in this paragraph, the amount of the current year’s equalized assessed value, in the first year after a municipality terminates the designation of an area as a redevelopment project area previously established under the Tax Increment Allocation Development Act in the Illinois Municipal Code, previously established under the Industrial Jobs Recovery Law in the Illinois Municipal Code, or previously established under the Economic Development Area Tax Increment Allocation Act, of each taxable lot, block, tract, or parcel of real property in the redevelopment project area over and above the initial equalized assessed value of each property in the redevelopment project area.

For the taxes which are extended for the 1997 levy year, the recovered tax increment value for a non-home rule taxing district that first became subject to this Law for the 1995 levy year because a majority of its 1994 equalized assessed value was in an affected county or counties shall be increased if a municipality terminated the designation of an area in 1993 as a redevelopment project area previously established under the Tax Increment Allocation Development Act in the Illinois Municipal Code, previously established under the Industrial Jobs Recovery Law in the Illinois Municipal Code, or previously established under the Economic Development Area Tax Increment Allocation Act, by an amount equal to the 1994 equalized assessed value of each taxable lot, block, tract, or parcel of real property in the redevelopment project area over and above the initial equalized assessed value of each property in the redevelopment project area.

In the first year after a municipality removes a taxable lot, block, tract, or parcel of real property from a redevelopment project area established under the Tax Increment Allocation Development Act in the Illinois Municipal Code, the Industrial Jobs Recovery Law in the Illinois Municipal Code, or the Economic Development Area Tax Increment Allocation Act, "recovered tax increment value" means the amount of the current year’s equalized assessed value of each taxable lot, block, tract, or parcel of real property removed from the redevelopment project area over SB1682 Enrolled - 13 - LRB094 07334 BDD 42075 b and above the initial equalized assessed value of that real property before removal from the redevelopment project area.

Except as otherwise provided in this Section, "limiting rate" means a fraction the numerator of which is the last preceding aggregate extension base times an amount equal to one plus the extension limitation defined in this Section and the denominator of which is the current year’s equalized assessed value of all real property in the territory under the jurisdiction of the taxing district during the prior levy year.

For those taxing districts that reduced their aggregate extension for the last preceding levy year, the highest aggregate extension in any of the last 3 preceding levy years shall be used for the purpose of computing the limiting rate.

The denominator shall not include new property or.

The denominator shall not include the recovered tax increment value.

If a new rate, a rate decrease, or a limiting rate increase has been approved at an election held after March 21, 2006, then (i) the otherwise applicable limiting rate shall be increased by the amount of the new rate or shall be reduced by the amount of the rate decrease, as the case may be, or (ii) in the case of a limiting rate increase, the limiting rate shall be equal to the rate set forth in the proposition approved by the voters for each of the years specified in the proposition, after which the limiting rate of the taxing district shall be calculated as otherwise provided.

(Source:

P.A.

92-547, eff.

6-13-02;

93-601, eff.

1-1-04;

93-606, eff.

11-18-03;

93-612, eff.

11-18-03;

93-689, eff.

7-1-04;

93-690, eff.

7-1-04;

93-1049, eff.

11-17-04;

revised 12-14-04.) (35 ILCS 200/18-190) Sec.

new rate or increased limiting rate.

(a) If a new rate or a rate increase is authorized by statute to be imposed without referendum or is subject to a backdoor referendum, as defined in Section 28-2 of the Election SB1682 Enrolled - 14 - LRB094 07334 BDD 42075 b Code, the governing body of the affected taxing district before levying the new rate or rate increase shall submit the new rate or rate increase to direct referendum under the provisions of this Section and of Article 28 of the Election Code.

Notwithstanding the requirementsprovisions, requirements, or limitations of any other law, allany taxingtax districtslevied subjectfor to this Law shall follow the provisions of this Section whenever seeking referendum approval after April 5, 2005 tolevy increaseyear (i)and theall maximumsubsequent authorizedlevy taxyears rateby for any fund for which the taxing district issubject authorized by statute to levythis taxesLaw andmay which rate is limited by prior referendum or statutory authorization and which rate is authorized by statute to be increasedextended forat a limitedrate orexceeding unlimitedthe numberrate ofestablished years by direct (and not back door) referendum, except for increases that require an equal corresponding tax rateby decreasereferendum foror anotherstatute, fundprovided orthat (ii) the maximum extended tax rate applicabledoes onlynot toexceed the nextstatutory taxesceiling toabove bewhich either levied or extended for any fund notwithstanding the limitingtax rateis thatnot wouldauthorized otherwiseto be applicablefurther forincreased sucheither taxingby district,referendum whichor maximumin extendedany taxother ratemanner. applicable to the next taxes shall not exceed the tax rate for such fund.

TheNotwithstanding propositionthe seekingprovisions, torequirements, obtainor suchlimitations referendumof approvalany forother law, all taxing districts subject to this Law shall follow the increaseprovisions describedof inthis clauseSection whenever seeking referenda approval after March 21, 2006 to (i) shalllevy bea innew substantiallytax rate authorized by statute or (ii) increase the followinglimiting form:rate applicable to the taxing district.

ShallAll thetaxing maximumdistricts taxsubject rateto forthis theLaw ...are authorized to seek referendum approval of each proposition described and set forth in this Section.

fundThe ofproposition ...seeking to obtain referendum approval to levy a new tax rate as authorized in clause (i) shall be in substantially the following form:

[insertShall legal name, number, if any, and county or counties of taxing district], Illinois, be increased for the ...

levy(insert year[s]legal [andname, allnumber, subsequentif levyany, years]and tocounty ...%or counties of thetaxing SB1682district Engrossedand -geographic 3or -other LRB094common 07334name BDDby 42075which ba equalizedschool assessedor valuecommunity ofcollege thedistrict taxableis propertyknown thereinand insteadreferred ofto), ...%,Illinois, thebe otherwiseauthorized applicableto maximumlevy taxa ratenew tax for such... fund? The votes must be recorded as "Yes" or "No".

Thepurposes propositionand seekinghave toan obtainadditional suchtax referendumof approval...% forof the increaseequalized describedassessed invalue clauseof (ii)the shalltaxable property therein extended for such purposes? The votes must be inrecorded substantiallyas the"Yes" followingor form:"No".

ShallThe theproposition maximumseeking taxto obtain referendum approval to increase the limiting rate foras authorized in clause (ii) shall be in substantially the ...following form:

fundShall ofthe limiting rate under the Property Tax Extension Limitation Law for ...

[insert(insert legal name, SB1682 Enrolled - 15 - LRB094 07334 BDD 42075 b number, if any, and county or counties of taxing district],district and geographic or other common name by which a school or community college district is known and referred to), Illinois, forbe increased by an additional amount equal to ...% above the limiting rate for levy year ...

(insert the most recent levy year for which the limiting rate of the taxing district is known at the time the submission of the proposition is initiated by the taxing district) and be equal to ...% of the equalized assessed value of the taxable property therein notwithstandingfor thelevy otherwiseyear(s) applicable(insert limitationseach setlevy forthyear infor which the Propertyincrease Taxwill Extensionbe Limitationapplicable, Lawwhich onyears suchmust taxbe rate?consecutive and may not exceed 4)? The votes must be recorded as "Yes" or "No".

The ballot for any proposition submitted pursuant to this Section shall have printed thereon, but not as a part of the proposition submitted, only the following information;supplemental information (which shall be supplied to the election authority by the taxing district) in substantially the following form:

provided,(1) however,The thatapproximate anyamount error,of miscalculationtaxes orextendable inaccuracyat inthe computingmost anyrecently amountextended setlimiting forthrate onis $..., and the ballotapproximate shallamount notof invalidatetaxes orextendable affectif the validityproposition ofis anyapproved propositionis approved:$....

(1)(2) ifFor the taxing... district is a school district or a community college district, the geographic or other common name by which the district is known and referred to;

(2)(insert the amount,first iflevy any,year offor which the proposednew increaserate inor increased limiting rate will be applicable) levy year the maximumapproximate authorizedamount of the additional tax rateextendable foragainst theproperty fundcontaining referreda tosingle infamily residence and having a fair market value at the proposition;time of the referendum of $100,000 is estimated to be $....

(3) theBased rateupon atan whichaverage taxesannual forpercentage theincrease fund(or wasdecrease) mostin recently extended (at the timemarket thevalue submission of thesuch propositionproperty isof initiated%... by the taxing district);

(4)(insert percentage equal to the amountaverage annual percentage increase or decrease for the prior 3 levy years, at the time the submission of the proposition is initiated by whichthe taxing district, in the proposedamount rateof for(A) the fundequalized exceedsassessed value of the mosttaxable recentlyproperty extendedin ratethe taxing district less (B) the new property included in the SB1682 Enrolled - 16 - LRB094 07334 BDD 42075 b equalized assessed value), the approximate amount of the additional tax extendable against such property for the fund;...

(5)levy theyear dollar amount of the last known aggregate extension base of the taxing district (at the time the submission of the proposition is initiatedestimated byto thebe taxing$... district);

SB1682 Engrossed - 4 - LRB094 07334 BDD 42075 b (6) the estimated dollar amount of the aggregate extension base of the taxing district if the proposition is approved, such amount computed by multiplying the amount of the last known equalized assessed value of the taxing district at the time the submission of the proposition is initiated by the taxing district by the amount from paragraph (4) and addingfor the product... to the amount from paragraph (5);

andlevy (7)year theis percentage increase proposed in the aggregate extension base of the taxing district based on the dollar amount of the last known aggregate extension base of the taxing district and the estimated dollarto amountbe of$ the.... aggregate extension base of the taxing district if the proposition is approved.

Any(4) noticeIf required to be published in connection with the submission of the proposition shallis alsoapproved, containthe thisaggregate informationextension andfor shall... not be required to contain any other information.

(insert each levy year for which the increase will apply) will be determined by the limiting rate set forth in the proposition, rather than the otherwise applicable limiting rate calculated under the provisions of the Property Tax Extension Limitation Law (commonly known as the Property Tax Cap Law).

The approximate amount of taxes extendable shown in paragraph (1) shall be computed upon the last known equalized assessed value of taxable property in the taxing district (at the time the submission of the proposition is initiated by the taxing district).

Paragraph (3) shall be included only if the increased limiting rate will be applicable for more than one levy year and shall list each levy year for which the increased limiting rate will be applicable.

The additional tax shown for each levy year shall be the approximate dollar amount of the increase over the amount of the most recently completed extension at the time the submission of the proposition is initiated by the taxing district.

The approximate amount of the additional taxes extendable shall be calculated (i) without regard to any property tax exemptions and (ii) based upon the percentage level of assessment prescribed for such property by statute or by ordinance of the county board in counties which classify property for purposes of taxation in accordance with Section 4 of Article IX of the Constitution.

Paragraph (4) shall be included if the proposition concerns a limiting rate increase but shall not be included if the proposition concerns a new rate.

Any notice required to be published in connection with the submission of the proposition shall also contain this supplemental information and shall not contain any other supplemental information regarding the proposition.

Any error, miscalculation, or inaccuracy in computing any amount set forth SB1682 Enrolled - 17 - LRB094 07334 BDD 42075 b on the ballot and in the notice that is not deliberate shall not invalidate or affect the validity of any proposition approved.

(A) thea new tax rate approvedshall at the referendum may be first effective for the extensionlevy ofyear taxesin accruingwhich more than 30 days after the canvassnew ofrate theis resultsapproved; of the referendum by the taxing district and shall not be effective for the extension of taxes occurring 30 days or less after such canvass;

(B) if the proposition provides for ana increasenew in the maximum authorized tax rate, (i) the newtaxing maximumdistrict is authorized taxto ratelevy fora thetax fundafter shall be the ratecanvass setof forth in the propositionresults forof the levyreferendum yearsby set forth therein regardless of whether the propositionelection isauthority approvedfor before or after the taxingpurposes district adopts or files its levy for anywhich levythe yeartax setis forthauthorized; in the proposition;

and(C) (ii)a thelimiting aggregaterate SB1682increase Engrossedshall -be 5first -effective LRB094for 07334the BDDlevy 42075year bin extensionwhich basethe oflimiting rate increase is approved, provided that the taxing district shallmay beelect adjustedto ashave a resultlimiting rate increase be effective for the levy year prior to the levy year in which the limiting rate increase is approved unless the extension of taxes for the approvalprior levy year occurs 30 days or less after the canvass of the propositionresults asof setthe forthreferendum by the election authority in Sectionany 18-230;county in which the taxing district is located;

(C)(D) ifin theorder proposition does not provide for an increase in the maximumlimiting authorizedrate taxincrease rate,to butbe providesfirst effective for an increase in the maximumlevy extendedyear taxprior rateto forthe a single levy year,year (A)of the maximumreferendum, authorized tax rate for the fundtaxing shalldistrict notmust becertify affected,its butelection theto ratehave extended for the fundlimiting shallrate increase be equaleffective tofor the rateprior setlevy forthyear into the propositionclerk forof theeach levycounty year set forth in which the propositiontaxing regardlessdistrict ofis whetherlocated thenot propositionmore isthan approved2 beforedays or after the taxingdate districtthe adoptsresults orof filesthe itsreferendum levyare forcanvassed thatby levythe year;election authority;

and (B)(E) if the aggregateproposition extensionprovides basefor ofa thelimiting taxingrate districtincrease, shallthe beincrease adjustedmay asbe aeffective resultregardless of whether the approvalproposition ofis approved before or after the propositiontaxing asdistrict setadopts forthor infiles Sectionits 18-230.levy for any levy year.

Rates required to extend taxes for a fund on levies subject to a SB1682 Enrolled - 18 - LRB094 07334 BDD 42075 b backdoor referendum in each year there is a levy are not new rates or rate increases under this Section if a levy has been made for the fund in one or more of the preceding 3 levy yearsyears. prior to this law becoming applicable to the taxing district.

The direct referendum shall be initiated by ordinance or resolution of the governing body of the taxing district, and SB1682 Engrossed - 6 - LRB094 07334 BDD 42075 b the question shall be certified to the proper election authorities in accordance with the provisions of the Election Code.

A taxing district may increase its extension limitation for one or more levy years a current levy year if that taxing district holds a referendum before the levy date for the first levy year at which a majority of voters voting on the issue approves adoption of a higher extension limitation.

Referenda shall be SB1682 Enrolled - 19 - LRB094 07334 BDD 42075 b conducted at a regularly scheduled election in accordance with the Election Code provided that notice of the referendum, if held before July 1, 1999, has been given in accordance with the provisions of Section 12-5 of the Election Code in effect at the time of the bond referendum, at least 10 and not more than 45 days before the date of the election, notwithstanding the time for publication otherwise imposed by Section 12-5.

The question shall be presented in substantially the following manner:manner for all elections held after March 21, 2006:

------------------------------------------------------------Shall Shall the extension limitationthe under the Property Tax Extensionextension Limitation Law for ...(taxing                    YESlimitation district name)... be increased fromunder ...(the lesser of 5% or the increase        the ----------------Property in the Consumer Price Index over theTax prior levy year)...%  to ...(percentage          NOExtension of proposed increase)...%  for theLimitation SB1682Law Engrossedfor -(insert 7the -legal LRB094name, 07334number, BDDif 42075any, band ...(levy year)... levy year?county ------------------------------------------------------------or Ifcounties of the taxing district and geographic or other common name by which a majorityschool or community college district is known and referred to), Illinois, be increased from the lesser of voters5% votingor onthe percentage increase in the issueConsumer approvesPrice Index over the adoptionprior oflevy year to (insert the increase,percentage of the increaseproposed shallincrease)% beper applicableyear for the(insert each levy year specified.for which the increased extension limitation will apply)? The votes must be recorded as "Yes" or "No".

------------------------------------------------------------ Shall the extension limitation under the Property Tax Extension Limitation Law for ...(taxing                    YES district name)... be increased from ...(the lesser of 5% or the increase         ---------------- in the Consumer Price Index over the prior levy year)...%  to ...(percentage          NO of proposed increase)...%  for the ...(levy year)... levy year? ------------------------------------------------------------ If a majority of voters voting on the issue approves the adoption of the increase, the increase shall be applicable for SB1682 Enrolled - 20 - LRB094 07334 BDD 42075 b each the levy year specified.

The ballot for any question submitted pursuant to this Section shall have printed thereon, but not as a part of the question submitted, only the following supplemental information (which shall be supplied to the election authority by the taxing district) in substantially the following form:

(1) For the (insert the first levy year for which the increased extension limitation will be applicable) levy year the approximate amount of the additional tax extendable against property containing a single family residence and having a fair market value at the time of the referendum of $100,000 is estimated to be $....

(2) Based upon an average annual percentage increase (or decrease) in the market value of such property of ...% (insert percentage equal to the average annual percentage increase or decrease for the prior 3 levy years, at the time the submission of the question is initiated by the taxing district, in the amount of (A) the equalized assessed value of the taxable property in the taxing district less (B) the new property included in the equalized assessed value), the approximate amount of the additional tax extendable against such property for the ...

levy year is estimated to be $...

and for the ...

levy year is estimated to be $....

Paragraph (2) shall be included only if the increased extension limitation will be applicable for more than one year and shall list each levy year for which the increased extension limitation will be applicable.

The additional tax shown for each levy year shall be the approximate dollar amount of the increase over the amount of the most recently completed extension at the time the submission of the question is initiated by the taxing district.

The approximate amount of the additional tax extendable shall be calculated by using (A) the lesser of 5% or the percentage increase in the Consumer Price Index for the prior levy year (or an estimate of the percentage increase for the prior levy year if the increase is unavailable SB1682 Enrolled - 21 - LRB094 07334 BDD 42075 b at the time the submission of the question is initiated by the taxing district), (B) the percentage increase proposed in the question, and (C) the last known equalized assessed value and aggregate extension base of the taxing district at the time the submission of the question is initiated by the taxing district.

The approximate amount of the tax extendable shall be calculated (i) without regard to any property tax exemptions and (ii) based upon the percentage level of assessment prescribed for such property by statute or by ordinance of the county board in counties which classify property for purposes of taxation in accordance with Section 4 of Article IX of the Constitution.

Any notice required to be published in connection with the submission of the question shall also contain this supplemental information and shall not contain any other supplemental information.

Any error, miscalculation, or inaccuracy in computing any amount set forth on the ballot or in the notice that is not deliberate shall not invalidate or affect the validity of any proposition approved.

Notice of the referendum shall be published and posted as otherwise required by law, and the submission of the question shall be initiated as provided by law.

Only when When a new rate or a rate increase as described in subsection (a) of Section 18-190 or decrease first effective for the current levy year has been approved by referendum,referendum held prior to March 22, 2006, the aggregate extension base, as adjusted in Section Sections 18-215 and 18-220, shall be multiplied by a rate increase (or decrease) factor.

The numerator of the rate increase (or decrease) factor is the total combined rate for the funds that made up the aggregate extension for the taxing district for the prior year plus the difference between the rate set forth in the proposition approved by referendum and the rate extended for the prior year for the fund set forth in the proposition rate increase approved or minus the rate decrease approved.

The denominator of the rate increase or decrease factor is the total combined rate for the funds that made up the aggregate SB1682 Enrolled - 22 - LRB094 07334 BDD 42075 b extension for the prior year.

For those taxing districts for which a new rate or a rate increase has been approved by referendum held after December 31, 1988,1988 and prior to March 22, 2006, and that did not increase their rate to the new maximum rate for that fund, the rate increase factor shall be adjusted for 4 levy years after the year of the referendum (unless the governing body of a taxing district to which this Law applied before the 1995 levy year that approved a tax rate increase at a general election held after 2002 directs the county clerk or clerks by resolution to make such adjustment for a lesser number of years) by a factor the numerator of which is the portion of the new or increased rate for which taxes were not extended plus the aggregate rate in effect for the levy year prior to the levy year in which the referendum was passed and the denominator of which is the aggregate rate in effect for the levy year prior to the levy year in which the referendum was passed.

88-455.) Section 99.

Effective date.

This Act takes effect upon becoming law.