Added as Co-Sponsor Sen. Chris Balkema
Summary
The bill amends Illinois’ Property Tax Extension Limitation Law to let a taxing district ask voters to cut its aggregate extension base, which lowers future limiting rates. A petition signed by at least 10 % of voters from the last gubernatorial election can place the question on the ballot, and a majority “yes” vote enacts the reduction. The measure also updates how the extension limitation is calculated and keeps existing referendum rules for increasing limits and debt‑service bases.
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