Illinois HB3841 amends the Property Tax Extension Limitation Law to suspend the debt service extension base for park districts in 2026.
Illinois HB3841 amends the Property Tax Extension Limitation Law by changing Section 18-185. It provides that the debt service extension base shall be suspended for park districts for the 2026 levy year. The bill defines terms such as "Consumer Price Index," "extension limitation," and "taxing district." It also outlines provisions for calculating the limiting rate and adjusting the aggregate extension base. The changes apply to various taxing districts and special purpose extensions, including those for unemployment, workers' compensation, and community mental health facilities.
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