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104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026
HB5371

Introduced 2/10/2026, by Rep. La Shawn K. Ford

SYNOPSIS AS INTRODUCED:

35 ILCS 200/18-185
35 ILCS 200/18-244 new

Amends the Property Tax Extension Limitation Law in the Property Tax
Code. Provides that the City of Chicago is considered a taxing district for
purposes of the Law. Preempts home rule powers. Effective immediately.
LRB104 19200 HLH 32645 b

A BILL FOR

HB5371
LRB104 19200 HLH 32645 b
1

AN ACT concerning revenue.

2

Be it enacted by the People of the State of Illinois,
3
represented in the General Assembly:

4

Section 5.
The Property Tax Code is amended by changing
5
Section 18-185 and by adding Section 18-244 as follows:

6

(35 ILCS 200/18-185)
7

Sec. 18-185.
Short title; definitions.
This Division 5
8
may be cited as the Property Tax Extension Limitation Law. As
9
used in this Division 5:
10

"Consumer Price Index" means the Consumer Price Index for
11
All Urban Consumers for all items published by the United
12
States Department of Labor.
13

"Extension limitation" means (a) the lesser of 5% or the
14
percentage increase in the Consumer Price Index during the
15
12-month calendar year preceding the levy year or (b) the rate
16
of increase approved by voters under Section 18-205.
17

"Affected county" means a county of 3,000,000 or more
18
inhabitants or a county contiguous to a county of 3,000,000 or
19
more inhabitants.
20

"Taxing district" has the same meaning provided in Section
21
1-150, except as otherwise provided in this Section. For the
22
1991 through 1994 levy years only, "taxing district" includes
23
only each non-home rule taxing district having the majority of

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LRB104 19200 HLH 32645 b
1
its 1990 equalized assessed value within any county or
2
counties contiguous to a county with 3,000,000 or more
3
inhabitants. Beginning with the 1995 levy year, "taxing
4
district" includes only each non-home rule taxing district
5
subject to this Law before the 1995 levy year and each non-home
6
rule taxing district not subject to this Law before the 1995
7
levy year having the majority of its 1994 equalized assessed
8
value in an affected county or counties. Beginning with the
9
levy year in which this Law becomes applicable to a taxing
10
district as provided in Section 18-213, "taxing district" also
11
includes those taxing districts made subject to this Law as
12
provided in Section 18-213.
Beginning in taxable year 2027,
13
"taxing district" also includes the City of Chicago.

14

"Aggregate extension" for taxing districts to which this
15
Law applied before the 1995 levy year
and for the City of
16
Chicago
means the annual corporate extension for the taxing
17
district and those special purpose extensions that are made
18
annually for the taxing district, excluding special purpose
19
extensions: (a) made for the taxing district to pay interest
20
or principal on general obligation bonds that were approved by
21
referendum; (b) made for any taxing district to pay interest
22
or principal on general obligation bonds issued before October
23
1, 1991; (c) made for any taxing district to pay interest or
24
principal on bonds issued to refund or continue to refund
25
those bonds issued before October 1, 1991; (d) made for any
26
taxing district to pay interest or principal on bonds issued

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LRB104 19200 HLH 32645 b
1
to refund or continue to refund bonds issued after October 1,
2
1991 that were approved by referendum; (e) made for any taxing
3
district to pay interest or principal on revenue bonds issued
4
before October 1, 1991 for payment of which a property tax levy
5
or the full faith and credit of the unit of local government is
6
pledged; however, a tax for the payment of interest or
7
principal on those bonds shall be made only after the
8
governing body of the unit of local government finds that all
9
other sources for payment are insufficient to make those
10
payments; (f) made for payments under a building commission
11
lease when the lease payments are for the retirement of bonds
12
issued by the commission before October 1, 1991, to pay for the
13
building project; (g) made for payments due under installment
14
contracts entered into before October 1, 1991; (h) made for
15
payments of principal and interest on bonds issued under the
16
Metropolitan Water Reclamation District Act to finance
17
construction projects initiated before October 1, 1991; (i)
18
made for payments of principal and interest on limited bonds,
19
as defined in Section 3 of the Local Government Debt Reform
20
Act, in an amount not to exceed the debt service extension base
21
less the amount in items (b), (c), (e), and (h) of this
22
definition for non-referendum obligations, except obligations
23
initially issued pursuant to referendum; (j) made for payments
24
of principal and interest on bonds issued under Section 15 of
25
the Local Government Debt Reform Act; (k) made by a school
26
district that participates in the Special Education District

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1
of Lake County, created by special education joint agreement
2
under Section 10-22.31 of the School Code, for payment of the
3
school district's share of the amounts required to be
4
contributed by the Special Education District of Lake County
5
to the Illinois Municipal Retirement Fund under Article 7 of
6
the Illinois Pension Code; the amount of any extension under
7
this item (k) shall be certified by the school district to the
8
county clerk; (l) made to fund expenses of providing joint
9
recreational programs for persons with disabilities under
10
Section 5-8 of the Park District Code or Section 11-95-14 of
11
the Illinois Municipal Code; (m) made for temporary relocation
12
loan repayment purposes pursuant to Sections 2-3.77 and
13
17-2.2d of the School Code; (n) made for payment of principal
14
and interest on any bonds issued under the authority of
15
Section 17-2.2d of the School Code; (o) made for contributions
16
to a firefighter's pension fund created under Article 4 of the
17
Illinois Pension Code, to the extent of the amount certified
18
under item (5) of Section 4-134 of the Illinois Pension Code;
19
(p) made for road purposes in the first year after a township
20
assumes the rights, powers, duties, assets, property,
21
liabilities, obligations, and responsibilities of a road
22
district abolished under the provisions of Section 6-133 of
23
the Illinois Highway Code; (q) made under Section 4 of the
24
Community Mental Health Act to provide the necessary funds or
25
to supplement existing funds for community mental health
26
facilities and services, including facilities and services for

HB5371
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LRB104 19200 HLH 32645 b
1
the person with a developmental disability or a substance use
2
disorder; and (r) made for the payment of principal and
3
interest on any bonds issued under the authority of Section
4
17-2.11 of the School Code or to refund or continue to refund
5
those bonds.
6

"Aggregate extension" for the taxing districts to which
7
this Law did not apply before the 1995 levy year (except taxing
8
districts subject to this Law in accordance with Section
9
18-213) means the annual corporate extension for the taxing
10
district and those special purpose extensions that are made
11
annually for the taxing district, excluding special purpose
12
extensions: (a) made for the taxing district to pay interest
13
or principal on general obligation bonds that were approved by
14
referendum; (b) made for any taxing district to pay interest
15
or principal on general obligation bonds issued before March
16
1, 1995; (c) made for any taxing district to pay interest or
17
principal on bonds issued to refund or continue to refund
18
those bonds issued before March 1, 1995; (d) made for any
19
taxing district to pay interest or principal on bonds issued
20
to refund or continue to refund bonds issued after March 1,
21
1995 that were approved by referendum; (e) made for any taxing
22
district to pay interest or principal on revenue bonds issued
23
before March 1, 1995 for payment of which a property tax levy
24
or the full faith and credit of the unit of local government is
25
pledged; however, a tax for the payment of interest or
26
principal on those bonds shall be made only after the

HB5371
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LRB104 19200 HLH 32645 b
1
governing body of the unit of local government finds that all
2
other sources for payment are insufficient to make those
3
payments; (f) made for payments under a building commission
4
lease when the lease payments are for the retirement of bonds
5
issued by the commission before March 1, 1995 to pay for the
6
building project; (g) made for payments due under installment
7
contracts entered into before March 1, 1995; (h) made for
8
payments of principal and interest on bonds issued under the
9
Metropolitan Water Reclamation District Act to finance
10
construction projects initiated before October 1, 1991; (h-4)
11
made for stormwater management purposes by the Metropolitan
12
Water Reclamation District of Greater Chicago under Section 12
13
of the Metropolitan Water Reclamation District Act; (h-8) made
14
for payments of principal and interest on bonds issued under
15
Section 9.6a of the Metropolitan Water Reclamation District
16
Act to make contributions to the pension fund established
17
under Article 13 of the Illinois Pension Code; (i) made for
18
payments of principal and interest on limited bonds, as
19
defined in Section 3 of the Local Government Debt Reform Act,
20
in an amount not to exceed the debt service extension base less
21
the amount in items (b), (c), and (e) of this definition for
22
non-referendum obligations, except obligations initially
23
issued pursuant to referendum and bonds described in
24
subsections (h) and (h-8) of this definition; (j) made for
25
payments of principal and interest on bonds issued under
26
Section 15 of the Local Government Debt Reform Act; (k) made

HB5371
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LRB104 19200 HLH 32645 b
1
for payments of principal and interest on bonds authorized by
2
Public Act 88-503 and issued under Section 20a of the Chicago
3
Park District Act for aquarium or museum projects and bonds
4
issued under Section 20a of the Chicago Park District Act for
5
the purpose of making contributions to the pension fund
6
established under Article 12 of the Illinois Pension Code; (l)
7
made for payments of principal and interest on bonds
8
authorized by Public Act 87-1191 or 93-601 and (i) issued
9
pursuant to Section 21.2 of the Cook County Forest Preserve
10
District Act, (ii) issued under Section 42 of the Cook County
11
Forest Preserve District Act for zoological park projects, or
12
(iii) issued under Section 44.1 of the Cook County Forest
13
Preserve District Act for botanical gardens projects; (m) made
14
pursuant to Section 34-53.5 of the School Code, whether levied
15
annually or not; (n) made to fund expenses of providing joint
16
recreational programs for persons with disabilities under
17
Section 5-8 of the Park District Code or Section 11-95-14 of
18
the Illinois Municipal Code; (o) made by the Chicago Park
19
District for recreational programs for persons with
20
disabilities under subsection (c) of Section 7.06 of the
21
Chicago Park District Act; (p) made for contributions to a
22
firefighter's pension fund created under Article 4 of the
23
Illinois Pension Code, to the extent of the amount certified
24
under item (5) of Section 4-134 of the Illinois Pension Code;
25
(q) made by Ford Heights School District 169 under Section
26
17-9.02 of the School Code; (r) made for the purpose of making

HB5371
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LRB104 19200 HLH 32645 b
1
employer contributions to the Public School Teachers' Pension
2
and Retirement Fund of Chicago under Section 34-53 of the
3
School Code; (s) made under Section 4 of the Community Mental
4
Health Act to provide the necessary funds or to supplement
5
existing funds for community mental health facilities and
6
services, including facilities and services for the person
7
with a developmental disability or a substance use disorder;
8
and (t) made for the payment of principal and interest on any
9
bonds issued under the authority of Section 17-2.11 of the
10
School Code or to refund or continue to refund those bonds.
11

"Aggregate extension" for all taxing districts to which
12
this Law applies in accordance with Section 18-213, except for
13
those taxing districts subject to paragraph (2) of subsection
14
(e) of Section 18-213, means the annual corporate extension
15
for the taxing district and those special purpose extensions
16
that are made annually for the taxing district, excluding
17
special purpose extensions: (a) made for the taxing district
18
to pay interest or principal on general obligation bonds that
19
were approved by referendum; (b) made for any taxing district
20
to pay interest or principal on general obligation bonds
21
issued before the date on which the referendum making this Law
22
applicable to the taxing district is held; (c) made for any
23
taxing district to pay interest or principal on bonds issued
24
to refund or continue to refund those bonds issued before the
25
date on which the referendum making this Law applicable to the
26
taxing district is held; (d) made for any taxing district to

HB5371
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LRB104 19200 HLH 32645 b
1
pay interest or principal on bonds issued to refund or
2
continue to refund bonds issued after the date on which the
3
referendum making this Law applicable to the taxing district
4
is held if the bonds were approved by referendum after the date
5
on which the referendum making this Law applicable to the
6
taxing district is held; (e) made for any taxing district to
7
pay interest or principal on revenue bonds issued before the
8
date on which the referendum making this Law applicable to the
9
taxing district is held for payment of which a property tax
10
levy or the full faith and credit of the unit of local
11
government is pledged; however, a tax for the payment of
12
interest or principal on those bonds shall be made only after
13
the governing body of the unit of local government finds that
14
all other sources for payment are insufficient to make those
15
payments; (f) made for payments under a building commission
16
lease when the lease payments are for the retirement of bonds
17
issued by the commission before the date on which the
18
referendum making this Law applicable to the taxing district
19
is held to pay for the building project; (g) made for payments
20
due under installment contracts entered into before the date
21
on which the referendum making this Law applicable to the
22
taxing district is held; (h) made for payments of principal
23
and interest on limited bonds, as defined in Section 3 of the
24
Local Government Debt Reform Act, in an amount not to exceed
25
the debt service extension base less the amount in items (b),
26
(c), and (e) of this definition for non-referendum

HB5371
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LRB104 19200 HLH 32645 b
1
obligations, except obligations initially issued pursuant to
2
referendum; (i) made for payments of principal and interest on
3
bonds issued under Section 15 of the Local Government Debt
4
Reform Act; (j) made for a qualified airport authority to pay
5
interest or principal on general obligation bonds issued for
6
the purpose of paying obligations due under, or financing
7
airport facilities required to be acquired, constructed,
8
installed or equipped pursuant to, contracts entered into
9
before March 1, 1996 (but not including any amendments to such
10
a contract taking effect on or after that date); (k) made to
11
fund expenses of providing joint recreational programs for
12
persons with disabilities under Section 5-8 of the Park
13
District Code or Section 11-95-14 of the Illinois Municipal
14
Code; (l) made for contributions to a firefighter's pension
15
fund created under Article 4 of the Illinois Pension Code, to
16
the extent of the amount certified under item (5) of Section
17
4-134 of the Illinois Pension Code; (m) made for the taxing
18
district to pay interest or principal on general obligation
19
bonds issued pursuant to Section 19-3.10 of the School Code;
20
(n) made under Section 4 of the Community Mental Health Act to
21
provide the necessary funds or to supplement existing funds
22
for community mental health facilities and services, including
23
facilities and services for the person with a developmental
24
disability or a substance use disorder; and (o) made for the
25
payment of principal and interest on any bonds issued under
26
the authority of Section 17-2.11 of the School Code or to

HB5371
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LRB104 19200 HLH 32645 b
1
refund or continue to refund those bonds.
2

"Aggregate extension" for all taxing districts to which
3
this Law applies in accordance with paragraph (2) of
4
subsection (e) of Section 18-213 means the annual corporate
5
extension for the taxing district and those special purpose
6
extensions that are made annually for the taxing district,
7
excluding special purpose extensions: (a) made for the taxing
8
district to pay interest or principal on general obligation
9
bonds that were approved by referendum; (b) made for any
10
taxing district to pay interest or principal on general
11
obligation bonds issued before March 7, 1997 (the effective
12
date of Public Act 89-718); (c) made for any taxing district to
13
pay interest or principal on bonds issued to refund or
14
continue to refund those bonds issued before March 7, 1997
15
(the effective date of Public Act 89-718); (d) made for any
16
taxing district to pay interest or principal on bonds issued
17
to refund or continue to refund bonds issued after March 7,
18
1997 (the effective date of Public Act 89-718) if the bonds
19
were approved by referendum after March 7, 1997 (the effective
20
date of Public Act 89-718); (e) made for any taxing district to
21
pay interest or principal on revenue bonds issued before March
22
7, 1997 (the effective date of Public Act 89-718) for payment
23
of which a property tax levy or the full faith and credit of
24
the unit of local government is pledged; however, a tax for the
25
payment of interest or principal on those bonds shall be made
26
only after the governing body of the unit of local government

HB5371
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LRB104 19200 HLH 32645 b
1
finds that all other sources for payment are insufficient to
2
make those payments; (f) made for payments under a building
3
commission lease when the lease payments are for the
4
retirement of bonds issued by the commission before March 7,
5
1997 (the effective date of Public Act 89-718) to pay for the
6
building project; (g) made for payments due under installment
7
contracts entered into before March 7, 1997 (the effective
8
date of Public Act 89-718); (h) made for payments of principal
9
and interest on limited bonds, as defined in Section 3 of the
10
Local Government Debt Reform Act, in an amount not to exceed
11
the debt service extension base less the amount in items (b),
12
(c), and (e) of this definition for non-referendum
13
obligations, except obligations initially issued pursuant to
14
referendum; (i) made for payments of principal and interest on
15
bonds issued under Section 15 of the Local Government Debt
16
Reform Act; (j) made for a qualified airport authority to pay
17
interest or principal on general obligation bonds issued for
18
the purpose of paying obligations due under, or financing
19
airport facilities required to be acquired, constructed,
20
installed or equipped pursuant to, contracts entered into
21
before March 1, 1996 (but not including any amendments to such
22
a contract taking effect on or after that date); (k) made to
23
fund expenses of providing joint recreational programs for
24
persons with disabilities under Section 5-8 of the Park
25
District Code or Section 11-95-14 of the Illinois Municipal
26
Code; (l) made for contributions to a firefighter's pension

HB5371
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LRB104 19200 HLH 32645 b
1
fund created under Article 4 of the Illinois Pension Code, to
2
the extent of the amount certified under item (5) of Section
3
4-134 of the Illinois Pension Code; (m) made under Section 4 of
4
the Community Mental Health Act to provide the necessary funds
5
or to supplement existing funds for community mental health
6
facilities and services, including facilities and services for
7
the person with a developmental disability or a substance use
8
disorder; and (n) made for the payment of principal and
9
interest on any bonds issued under the authority of Section
10
17-2.11 of the School Code or to refund or continue to refund
11
those bonds.
12

"Debt service extension base" means an amount equal to
13
that portion of the extension for a taxing district for the
14
1994 levy year, or for those taxing districts subject to this
15
Law in accordance with Section 18-213, except for those
16
subject to paragraph (2) of subsection (e) of Section 18-213,
17
for the levy year in which the referendum making this Law
18
applicable to the taxing district is held, or for those taxing
19
districts subject to this Law in accordance with paragraph (2)
20
of subsection (e) of Section 18-213 for the 1996 levy year,
21
constituting an extension for payment of principal and
22
interest on bonds issued by the taxing district without
23
referendum, but not including excluded non-referendum bonds.
24
For park districts (i) that were first subject to this Law in
25
1991 or 1995 and (ii) whose extension for the 1994 levy year
26
for the payment of principal and interest on bonds issued by

HB5371
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LRB104 19200 HLH 32645 b
1
the park district without referendum (but not including
2
excluded non-referendum bonds) was less than 51% of the amount
3
for the 1991 levy year constituting an extension for payment
4
of principal and interest on bonds issued by the park district
5
without referendum (but not including excluded non-referendum
6
bonds), "debt service extension base" means an amount equal to
7
that portion of the extension for the 1991 levy year
8
constituting an extension for payment of principal and
9
interest on bonds issued by the park district without
10
referendum (but not including excluded non-referendum bonds).
11
A debt service extension base established or increased at any
12
time pursuant to any provision of this Law, except Section
13
18-212, shall be increased each year commencing with the later
14
of (i) the 2009 levy year or (ii) the first levy year in which
15
this Law becomes applicable to the taxing district, by the
16
lesser of 5% or the percentage increase in the Consumer Price
17
Index during the 12-month calendar year preceding the levy
18
year. The debt service extension base may be established or
19
increased as provided under Section 18-212. "Excluded
20
non-referendum bonds" means (i) bonds authorized by Public Act
21
88-503 and issued under Section 20a of the Chicago Park
22
District Act for aquarium and museum projects; (ii) bonds
23
issued under Section 15 of the Local Government Debt Reform
24
Act; or (iii) refunding obligations issued to refund or to
25
continue to refund obligations initially issued pursuant to
26
referendum.

HB5371
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LRB104 19200 HLH 32645 b
1

"Special purpose extensions" include, but are not limited
2
to, extensions for levies made on an annual basis for
3
unemployment and workers' compensation, self-insurance,
4
contributions to pension plans, and extensions made pursuant
5
to Section 6-601 of the Illinois Highway Code for a road
6
district's permanent road fund whether levied annually or not.
7
The extension for a special service area is not included in the
8
aggregate extension.
9

"Aggregate extension base" means the taxing district's
10
last preceding aggregate extension as adjusted under Sections
11
18-135, 18-215, 18-230, 18-206, and 18-233. Beginning with
12
levy year 2022, for taxing districts that are specified in
13
Section 18-190.7, the taxing district's aggregate extension
14
base shall be calculated as provided in Section 18-190.7. An
15
adjustment under Section 18-135 shall be made for the 2007
16
levy year and all subsequent levy years whenever one or more
17
counties within which a taxing district is located (i) used
18
estimated valuations or rates when extending taxes in the
19
taxing district for the last preceding levy year that resulted
20
in the over or under extension of taxes, or (ii) increased or
21
decreased the tax extension for the last preceding levy year
22
as required by Section 18-135(c). Whenever an adjustment is
23
required under Section 18-135, the aggregate extension base of
24
the taxing district shall be equal to the amount that the
25
aggregate extension of the taxing district would have been for
26
the last preceding levy year if either or both (i) actual,

HB5371
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LRB104 19200 HLH 32645 b
1
rather than estimated, valuations or rates had been used to
2
calculate the extension of taxes for the last levy year, or
3
(ii) the tax extension for the last preceding levy year had not
4
been adjusted as required by subsection (c) of Section 18-135.
5

Notwithstanding any other provision of law, for levy year
6
2012, the aggregate extension base for West Northfield School
7
District No. 31 in Cook County shall be $12,654,592.
8

Notwithstanding any other provision of law, for the
9
purpose of calculating the limiting rate for levy year 2023,
10
the last preceding aggregate extension base for Homewood
11
School District No. 153 in Cook County shall be $19,535,377.
12

Notwithstanding any other provision of law, for levy year
13
2022, the aggregate extension base of a home equity assurance
14
program that levied at least $1,000,000 in property taxes in
15
levy year 2019 or 2020 under the Home Equity Assurance Act
16
shall be the amount that the program's aggregate extension
17
base for levy year 2021 would have been if the program had
18
levied a property tax for levy year 2021.
19

"Levy year" has the same meaning as "year" under Section
20
1-155.
21

"New property" means (i) the assessed value, after final
22
board of review or board of appeals action, of new
23
improvements or additions to existing improvements on any
24
parcel of real property that increase the assessed value of
25
that real property during the levy year multiplied by the
26
equalization factor issued by the Department under Section

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17-30, (ii) the assessed value, after final board of review or
2
board of appeals action, of real property not exempt from real
3
estate taxation, which real property was exempt from real
4
estate taxation for any portion of the immediately preceding
5
levy year, multiplied by the equalization factor issued by the
6
Department under Section 17-30, including the assessed value,
7
upon final stabilization of occupancy after new construction
8
is complete, of any real property located within the
9
boundaries of an otherwise or previously exempt military
10
reservation that is intended for residential use and owned by
11
or leased to a private corporation or other entity, (iii) in
12
counties that classify in accordance with Section 4 of Article
13
IX of the Illinois Constitution, an incentive property's
14
additional assessed value resulting from a scheduled increase
15
in the level of assessment as applied to the first year final
16
board of review market value, and (iv) any increase in
17
assessed value due to oil or gas production from an oil or gas
18
well required to be permitted under the Hydraulic Fracturing
19
Regulatory Act that was not produced in or accounted for
20
during the previous levy year. In addition, the county clerk
21
in a county containing a population of 3,000,000 or more shall
22
include in the 1997 recovered tax increment value for any
23
school district, any recovered tax increment value that was
24
applicable to the 1995 tax year calculations.
25

"Qualified airport authority" means an airport authority
26
organized under the Airport Authorities Act and located in a

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county bordering on the State of Wisconsin and having a
2
population in excess of 200,000 and not greater than 500,000.
3

"Recovered tax increment value" means, except as otherwise
4
provided in this paragraph, the amount of the current year's
5
equalized assessed value, in the first year after a
6
municipality terminates the designation of an area as a
7
redevelopment project area previously established under the
8
Tax Increment Allocation Redevelopment Act in the Illinois
9
Municipal Code, previously established under the Industrial
10
Jobs Recovery Law in the Illinois Municipal Code, previously
11
established under the Economic Development Project Area Tax
12
Increment Act of 1995, or previously established under the
13
Economic Development Area Tax Increment Allocation Act, of
14
each taxable lot, block, tract, or parcel of real property in
15
the redevelopment project area over and above the initial
16
equalized assessed value of each property in the redevelopment
17
project area. For the taxes which are extended for the 1997
18
levy year, the recovered tax increment value for a non-home
19
rule taxing district that first became subject to this Law for
20
the 1995 levy year because a majority of its 1994 equalized
21
assessed value was in an affected county or counties shall be
22
increased if a municipality terminated the designation of an
23
area in 1993 as a redevelopment project area previously
24
established under the Tax Increment Allocation Redevelopment
25
Act in the Illinois Municipal Code, previously established
26
under the Industrial Jobs Recovery Law in the Illinois

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Municipal Code, or previously established under the Economic
2
Development Area Tax Increment Allocation Act, by an amount
3
equal to the 1994 equalized assessed value of each taxable
4
lot, block, tract, or parcel of real property in the
5
redevelopment project area over and above the initial
6
equalized assessed value of each property in the redevelopment
7
project area. In the first year after a municipality removes a
8
taxable lot, block, tract, or parcel of real property from a
9
redevelopment project area established under the Tax Increment
10
Allocation Redevelopment Act in the Illinois Municipal Code,
11
the Industrial Jobs Recovery Law in the Illinois Municipal
12
Code, or the Economic Development Area Tax Increment
13
Allocation Act, "recovered tax increment value" means the
14
amount of the current year's equalized assessed value of each
15
taxable lot, block, tract, or parcel of real property removed
16
from the redevelopment project area over and above the initial
17
equalized assessed value of that real property before removal
18
from the redevelopment project area.
19

Except as otherwise provided in this Section, "limiting
20
rate" means a fraction the numerator of which is the last
21
preceding aggregate extension base times an amount equal to
22
one plus the extension limitation defined in this Section and
23
the denominator of which is the current year's equalized
24
assessed value of all real property in the territory under the
25
jurisdiction of the taxing district during the prior levy
26
year. For those taxing districts that reduced their aggregate

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extension for the last preceding levy year, except for school
2
districts that reduced their extension for educational
3
purposes pursuant to Section 18-206, the highest aggregate
4
extension in any of the last 3 preceding levy years shall be
5
used for the purpose of computing the limiting rate. The
6
denominator shall not include new property or the recovered
7
tax increment value. If a new rate, a rate decrease, or a
8
limiting rate increase has been approved at an election held
9
after March 21, 2006, then (i) the otherwise applicable
10
limiting rate shall be increased by the amount of the new rate
11
or shall be reduced by the amount of the rate decrease, as the
12
case may be, or (ii) in the case of a limiting rate increase,
13
the limiting rate shall be equal to the rate set forth in the
14
proposition approved by the voters for each of the years
15
specified in the proposition, after which the limiting rate of
16
the taxing district shall be calculated as otherwise provided.
17
In the case of a taxing district that obtained referendum
18
approval for an increased limiting rate on March 20, 2012, the
19
limiting rate for tax year 2012 shall be the rate that
20
generates the approximate total amount of taxes extendable for
21
that tax year, as set forth in the proposition approved by the
22
voters; this rate shall be the final rate applied by the county
23
clerk for the aggregate of all capped funds of the district for
24
tax year 2012.
25
(Source: P.A. 103-154, eff. 6-30-23; 103-587, eff. 5-28-24;
26
103-591, eff. 7-1-24; 103-592, eff. 6-7-24; 104-417, eff.

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8-15-25.)

2

(35 ILCS 200/18-244 new)
3

Sec. 18-244.
Home rule.
This is a denial and limitation of
4
home rule powers and functions in accordance with subsection
5
(g) of Section 6 of Article VII of the Illinois Constitution.

6

Section 99.
Effective date.
This Act takes effect upon
7
becoming law.

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