HB4083 - PROP TX-MANDATES
Illinois - 103rd General Assembly
Introduced byJohn Egofske
Last updated over 1 year ago
1 Co-Sponsor
Amends the Property Tax Code. Provides that each taxing district shall continuously monitor its cash and cash-equivalent assets. Provides that if, on the last day of the taxing district's fiscal year, the taxing district has an amount in cash or cash-equivalent assets that is more than 5 times its average annual revenue from all sources for the 3 immediately preceding calendar years, then the taxing district shall review its property tax levy and extension with the goal of granting an abatement to its taxpayers. Provides for notification to taxpayers.
STATUS
Introduced
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