HB 2834

Abstract

Amends the Levy and Extension process of the Property Tax Code. Defines "aggregate extension base" as" (i) for levy years before 2016, the taxing district's last preceding aggregate extension; and (ii) for levy years 2016 and later, the greater of (A) the taxing district's last preceding aggregate extension limit; or (B) the taxing district's last preceding aggregate extension as adjusted under this Act. Defines "aggregate extension limit" as the district's last preceding aggregate extension if the taxing district had utilized the maximum limiting rate permitted without referendum. Effective immediately.