SB 2206

Abstract

Amends the Property Tax Extension Limitation Law in the Property Tax Code. Provides that, for the 2017 levy year and thereafter, for certain school districts, "extension limitation" means 0% or the rate of increase approved by the voters. Provides that all school districts in the State are subject to the Property Tax Extension Limitation Law. Provides that qualified school districts may be granted an exemption from the amendatory Act by an affirmative vote of the State Board of Education. Sets forth the qualifications for those school districts. Effective immediately.