HB4465

Illinois HB4465 amends the Property Tax Extension Limitation Law to adjust tax extension bases for certain taxing districts.

Illinois HB4465 amends the Property Tax Extension Limitation Law to adjust the tax extension bases for certain taxing districts. The bill specifies that for levy year 2026, if a taxing district provided a property tax abatement under the Energy Community Reinvestment Act before the current levy year, the district's aggregate extension base will be adjusted. The bill also defines terms such as "aggregate extension base," "debt service extension base," and "recovered tax increment value." It provides specific adjustments for certain taxing districts and sets effective dates for these changes.