Bill > HB2720

This bill amends the Property Tax Extension Limitation Law in the Illinois Property Tax Code to make a specific change regarding how certain tax levies are calculated. Beginning with the 2026 levy year, the bill provides that special purpose tax levies made for the purpose of funding a Veterans Assistance Commission will not be included in a taxing district's aggregate extension. An aggregate extension is essentially the total amount of property tax a local government can collect, which is normally subject to certain limitations. By excluding Veterans Assistance Commission funding from this calculation, the bill allows these local veteran support organizations to potentially receive additional funding without impacting the overall tax extension limits for other municipal services. This change could help ensure more consistent and robust financial support for veterans' services at the county level without constraining other local government budgets.

Budget and Finance

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2720&GAID=18&DocTypeID=HB&SessionID=114&GA=104