Bill > HB5371

This bill amends the Property Tax Extension Limitation Law, commonly known as the PTELL, to include the City of Chicago as a taxing district for the purposes of this law, starting with the taxable year 2027. The PTELL is a state law that limits how much property tax revenue local governments can collect each year, generally tying increases to the rate of inflation or a voter-approved increase, and it applies to various taxing districts like school districts, park districts, and municipalities. By designating Chicago as a taxing district under this law, the bill aims to impose these limitations on the city's property tax extensions, overriding any home rule powers the city might have that would otherwise exempt it from such state-level regulations. The bill also explicitly states that this action is a denial and limitation of home rule powers, as permitted by the Illinois Constitution, and it takes effect immediately upon becoming law.

https://www.ilga.gov/Legislation/BillStatus?DocNum=5371&GAID=18&DocTypeID=HB&SessionID=114&GA=104