35 ILCS 200/18-185
2021 Illinois Compiled Statutes|Chapter 35 - REVENUE|35 ILCS 200/ - Property Tax Code.|Title 6 - Levy and Extension

(Text of Section from P.A. 102-263)Sec. 18-185. Short title; definitions.   This Division 5 may be cited as the  Property Tax Extension Limitation Law.  As used in this Division 5:"Consumer Price Index" means the Consumer Price Index for All Urban  Consumers for all items published by the United States Department of Labor."Extension limitation" means (a) the lesser of 5% or the percentage increase  in the Consumer Price Index during the 12-month calendar year preceding the  levy year or (b) the rate of increase approved by voters under Section 18-205."Affected county" means a county of 3,000,000 or more inhabitants or a  county contiguous to a county of 3,000,000 or more inhabitants."Taxing district" has the same meaning provided in Section 1-150, except as  otherwise provided in this Section.  For the 1991 through 1994 levy years only,  "taxing district" includes only each non-home rule taxing district having the  majority of its  1990 equalized assessed value within any county or counties contiguous to a  county with 3,000,000 or more inhabitants.  Beginning with the 1995 levy  year, "taxing district" includes only each non-home rule taxing district  subject to this Law before the 1995 levy year and each non-home rule  taxing district not subject to this Law before the 1995 levy year having the  majority of its 1994 equalized assessed value in an affected county or  counties.  Beginning with the levy year in  which this Law becomes applicable to a taxing district as  provided in Section 18-213, "taxing district" also includes those taxing  districts made subject to this Law as provided in Section 18-213."Aggregate extension" for taxing districts to which this Law applied before  the 1995 levy year means the annual corporate extension for the taxing  district and those special purpose extensions that are made annually for  the taxing district, excluding special purpose extensions: (a) made for the  taxing district to pay interest or principal on general obligation bonds  that were approved by referendum; (b) made for any taxing district to pay  interest or principal on general obligation bonds issued before October 1,  1991; (c) made for any taxing district to pay interest or principal on bonds  issued to refund or continue to refund those bonds issued before October 1,  1991; (d)  made for any taxing district to pay interest or principal on bonds  issued to refund or continue to refund bonds issued after October 1, 1991 that  were approved by referendum; (e)  made for any taxing district to pay interest  or principal on revenue bonds issued before October 1, 1991 for payment of  which a property tax levy or the full faith and credit of the unit of local  government is pledged; however, a tax for the payment of interest or principal  on those bonds shall be made only after the governing body of the unit of local  government finds that all other sources for payment are insufficient to make  those payments; (f) made for payments under a building commission lease when  the lease payments are for the retirement of bonds issued by the commission  before October 1, 1991, to pay for the building project; (g) made for payments  due under installment contracts entered into before October 1, 1991;  (h) made for payments of principal and interest on bonds issued under the  Metropolitan Water Reclamation District Act to finance construction projects  initiated before October 1, 1991; (i) made for payments of principal and  interest on limited bonds, as defined in Section 3 of the Local Government Debt  Reform Act, in an amount not to exceed the debt service extension base less  the amount in items (b), (c), (e), and (h) of this definition for  non-referendum obligations, except obligations initially issued pursuant to  referendum; (j) made for payments of principal and interest on bonds  issued under Section 15 of the Local Government Debt Reform Act; (k)  made  by a school district that participates in the Special Education District of  Lake County, created by special education joint agreement under Section  10-22.31 of the School Code, for payment of the school district's share of the  amounts required to be contributed by the Special Education District of Lake  County to the Illinois Municipal Retirement Fund under Article 7 of the  Illinois Pension Code; the amount of any extension under this item (k) shall be  certified by the school district to the county clerk; (l) made to fund  expenses of providing joint recreational programs for persons with disabilities under  Section 5-8 of  the  Park District Code or Section 11-95-14 of the Illinois Municipal Code; (m) made for temporary relocation loan repayment purposes pursuant to Sections 2-3.77 and 17-2.2d of the School Code;  (n) made for payment of principal and interest on any bonds issued under the authority of Section 17-2.2d of the School Code; (o) made for contributions to a firefighter's pension fund created under Article 4 of the Illinois Pension Code, to the extent of the amount certified under item (5) of Section 4-134 of the Illinois Pension Code; and (p) made for road purposes in the first year after a township assumes the rights, powers, duties, assets, property, liabilities, obligations, and  responsibilities of a road district abolished under the provisions of Section 6-133 of  the Illinois Highway Code."Aggregate extension" for the taxing districts to which this Law did not  apply before the 1995 levy year (except taxing districts subject to this Law  in  accordance with Section 18-213) means the annual corporate extension for the  taxing district and those special purpose extensions that are made annually for  the taxing district, excluding special purpose extensions: (a) made for the  taxing district to pay interest or principal on general obligation bonds that  were approved by referendum; (b) made for any taxing district to pay interest  or principal on general obligation bonds issued before March 1, 1995; (c) made  for any taxing district to pay interest or principal on bonds issued to refund  or continue to refund those bonds issued before March 1, 1995; (d) made for any  taxing district to pay interest or principal on bonds issued to refund or  continue to refund bonds issued after March 1, 1995 that were approved by  referendum; (e) made for any taxing district to pay interest or principal on  revenue bonds issued before March 1, 1995 for payment of which a property tax  levy or the full faith and credit of the unit of local government is pledged;  however, a tax for the payment of interest or principal on those bonds shall be  made only after the governing body of the unit of local government finds that  all other sources for payment are insufficient to make those payments; (f) made  for payments under a building commission lease when the lease payments are for  the retirement of bonds issued by the commission before March 1, 1995 to  pay for the building project; (g) made for payments due under installment  contracts entered into before March 1, 1995; (h) made for payments of  principal and interest on bonds issued under the Metropolitan Water Reclamation  District Act to finance construction projects initiated before October 1,  1991; (h-4) made for stormwater management purposes by the Metropolitan Water Reclamation District of Greater Chicago under Section 12 of the Metropolitan Water Reclamation District Act; (i) made for payments of principal and interest on limited bonds,  as defined in Section 3 of the Local Government Debt Reform Act, in an amount  not to exceed the debt service extension base less the amount in items (b),  (c), and (e) of this definition for non-referendum obligations, except  obligations initially issued pursuant to referendum and bonds described in  subsection (h) of this definition; (j) made for payments of  principal and interest on bonds issued under Section 15 of the Local Government  Debt Reform Act; (k) made for payments of principal and interest on bonds  authorized by Public Act 88-503 and issued under Section 20a of the Chicago  Park District Act for aquarium or  museum projects and bonds issued under Section 20a of the Chicago Park District Act for the purpose of making contributions to the pension fund established under Article 12 of the Illinois Pension Code; (l) made for payments of principal and interest on  bonds  authorized by Public Act 87-1191 or 93-601 and (i) issued pursuant to Section 21.2 of the Cook County Forest  Preserve District Act, (ii) issued under Section 42 of the Cook County  Forest Preserve District Act for zoological park projects, or (iii) issued  under Section 44.1 of the Cook County Forest Preserve District Act for  botanical gardens projects; (m) made  pursuant  to Section 34-53.5 of the School Code, whether levied annually or not;  (n) made to fund expenses of providing joint recreational programs for persons with disabilities under Section 5-8 of the Park  District Code or Section 11-95-14 of the Illinois Municipal Code;   (o) made by the  Chicago Park  District for recreational programs for persons with disabilities under subsection (c) of  Section  7.06 of the Chicago Park District Act; (p) made for contributions to a firefighter's pension fund created under Article 4 of the Illinois Pension Code, to the extent of the amount certified under item (5) of Section 4-134 of the Illinois Pension Code; (q) made by Ford Heights School District 169 under Section 17-9.02 of the School Code; and (r) made for the purpose of making employer contributions to the Public School Teachers' Pension and Retirement Fund of Chicago under Section 34-53 of the School Code."Aggregate extension" for all taxing districts to which this Law applies in  accordance with Section 18-213, except for those taxing districts subject to  paragraph (2) of subsection (e) of Section 18-213, means the annual corporate  extension for the  taxing district and those special purpose extensions that are made annually for  the taxing district, excluding special purpose extensions: (a) made for the  taxing district to pay interest or principal on general obligation bonds that  were approved by referendum; (b) made for any taxing district to pay interest  or principal on general obligation bonds issued before the date on which the  referendum making this  Law applicable to the taxing district is held; (c) made  for any taxing district to pay interest or principal on bonds issued to refund  or continue to refund those bonds issued before the date on which the  referendum making this Law  applicable to the taxing district is held;  (d) made for any  taxing district to pay interest or principal on bonds issued to refund or  continue to refund bonds issued after the date on which the referendum making  this Law  applicable to the taxing district is held if the bonds were approved by  referendum after the date on which the referendum making this Law  applicable to the taxing district is held; (e) made for any  taxing district to pay interest or principal on  revenue bonds issued before the date on which the referendum making this Law  applicable to the  taxing district is held for payment of which a property tax  levy or the full faith and credit of the unit of local government is pledged;  however, a tax for the payment of interest or principal on those bonds shall be  made only after the governing body of the unit of local government finds that  all other sources for payment are insufficient to make those payments; (f) made  for payments under a building commission lease when the lease payments are for  the retirement of bonds issued by the commission before the date on which the  referendum making this  Law applicable to the taxing district is held to  pay for the building project; (g) made for payments due under installment  contracts entered into before the date on which the referendum making this Law  applicable to  the taxing district is held;  (h) made for payments  of principal and interest on limited bonds,  as defined in Section 3 of the Local Government Debt Reform Act, in an amount  not to exceed the debt service extension base less the amount in items (b),  (c), and (e) of this definition for non-referendum obligations, except  obligations initially issued pursuant to referendum; (i) made for payments  of  principal and interest on bonds issued under Section 15 of the Local Government  Debt Reform Act;  (j)  made for a qualified airport authority to pay interest or principal on  general obligation bonds issued for the purpose of paying obligations due  under, or financing airport facilities required to be acquired, constructed,  installed or equipped pursuant to, contracts entered into before March  1, 1996 (but not including any amendments to such a contract taking effect on  or after that date); (k) made to fund expenses of providing joint  recreational programs for persons with disabilities under Section 5-8 of  the  Park District Code or Section 11-95-14 of the Illinois Municipal Code; (l) made for contributions to a firefighter's pension fund created under Article 4 of the Illinois Pension Code, to the extent of the amount certified under item (5) of Section 4-134 of the Illinois Pension Code; and (m) made for the taxing district to pay interest or principal on general obligation bonds issued pursuant to Section 19-3.10 of the School Code."Aggregate extension" for all taxing districts to which this Law applies in  accordance with paragraph (2) of subsection (e) of Section 18-213 means the  annual corporate extension for the  taxing district and those special purpose extensions that are made annually for  the taxing district, excluding special purpose extensions: (a) made for the  taxing district to pay interest or principal on general obligation bonds that  were approved by referendum; (b) made for any taxing district to pay interest  or principal on general obligation bonds issued before March 7, 1997 (the effective date of Public Act 89-718);  (c) made  for any taxing district to pay interest or principal on bonds issued to refund  or continue to refund those bonds issued before March 7, 1997 (the effective date  of Public Act 89-718);  (d) made for any  taxing district to pay interest or principal on bonds issued to refund or  continue to refund bonds issued after March 7, 1997 (the effective date of Public Act 89-718) if the bonds were approved by referendum after March 7, 1997 (the effective date of Public Act 89-718);  (e) made for any  taxing district to pay interest or principal on  revenue bonds issued before March 7, 1997 (the effective date of Public Act 89-718)   for payment of which a property tax  levy or the full faith and credit of the unit of local government is pledged;  however, a tax for the payment of interest or principal on those bonds shall be  made only after the governing body of the unit of local government finds that  all other sources for payment are insufficient to make those payments; (f) made  for payments under a building commission lease when the lease payments are for  the retirement of bonds issued by the commission before March 7, 1997 (the effective date  of Public Act 89-718)   to  pay for the building project; (g) made for payments due under installment  contracts entered into before March 7, 1997 (the effective date of Public Act 89-718);  (h) made for payments  of principal and interest on limited bonds,  as defined in Section 3 of the Local Government Debt Reform Act, in an amount  not to exceed the debt service extension base less the amount in items (b),  (c), and (e) of this definition for non-referendum obligations, except  obligations initially issued pursuant to referendum; (i) made for payments  of  principal and interest on bonds issued under Section 15 of the Local Government  Debt Reform Act;  (j)  made for a qualified airport authority to pay interest or principal on  general obligation bonds issued for the purpose of paying obligations due  under, or financing airport facilities required to be acquired, constructed,  installed or equipped pursuant to, contracts entered into before March  1, 1996 (but not including any amendments to such a contract taking effect on  or after that date); (k) made to fund expenses of providing joint  recreational programs for persons with disabilities under Section 5-8 of  the  Park District Code or Section 11-95-14 of the Illinois Municipal Code; and (l) made for contributions to a firefighter's pension fund created under Article 4 of the Illinois Pension Code, to the extent of the amount certified under item (5) of Section 4-134 of the Illinois Pension Code."Debt service extension base" means an amount equal to that portion of the  extension for a taxing district for the 1994 levy year, or for those taxing  districts subject to this Law in accordance with Section 18-213, except for  those subject to paragraph (2) of subsection (e) of Section 18-213, for the  levy  year in which the referendum making this Law applicable to the taxing district  is held, or for those taxing districts subject to this Law in accordance with  paragraph (2) of subsection (e) of Section 18-213 for the 1996 levy year,  constituting an  extension for payment of principal and interest on bonds issued by the taxing  district without referendum,  but not including excluded non-referendum bonds.  For park districts (i) that were first  subject to this Law in 1991 or 1995 and (ii) whose extension for the 1994 levy  year for the payment of principal and interest on bonds issued by the park  district without referendum (but not including excluded non-referendum bonds)  was less than 51% of the amount for the 1991 levy year constituting an  extension for payment of principal and interest on bonds issued by the park  district without referendum (but not including excluded non-referendum bonds),  "debt service extension base" means an amount equal to that portion of the  extension for the 1991 levy year constituting an extension for payment of  principal and interest on bonds issued by the park district without referendum  (but not including excluded non-referendum bonds).  A debt service extension base established or increased at any time pursuant to any provision of this Law, except Section 18-212, shall be increased each year commencing with the later of (i) the 2009 levy year or (ii) the first levy year in which this Law becomes applicable to the taxing district, by the lesser of 5% or the percentage increase in the Consumer Price Index during the 12-month calendar year preceding the levy year. The debt service extension  base may be established or increased as provided under Section 18-212.  "Excluded non-referendum bonds" means (i) bonds authorized by Public  Act 88-503 and issued under Section 20a of the Chicago Park District Act for  aquarium and museum projects; (ii) bonds issued under Section 15 of the  Local Government Debt Reform Act; or (iii) refunding obligations issued  to refund or to continue to refund obligations initially issued pursuant to  referendum."Special purpose extensions" include, but are not limited to, extensions  for levies made on an annual basis for unemployment and workers'  compensation, self-insurance, contributions to pension plans, and extensions  made pursuant to Section 6-601 of the Illinois Highway Code for a road  district's permanent road fund whether levied annually or not.  The  extension for a special service area is not included in the  aggregate extension."Aggregate extension base" means the taxing district's last preceding  aggregate extension as adjusted under Sections 18-135, 18-215,   18-230, and 18-206.   An adjustment under Section 18-135 shall be made for the 2007 levy year and all subsequent levy years whenever one or more counties within which a taxing district is located (i) used estimated valuations or rates when extending taxes in the taxing district for the last preceding levy year that resulted in the over or under extension of taxes, or (ii) increased or decreased the tax extension for the last preceding levy year as required by Section 18-135(c). Whenever an adjustment is required under Section 18-135, the aggregate extension base of the taxing district shall be equal to the amount that the aggregate extension of the taxing district would have been for the last preceding levy year if either or both (i) actual, rather than estimated, valuations or rates had been used to calculate the extension of taxes for the last levy year, or (ii) the tax extension for the last preceding levy year had not been adjusted as required by subsection (c) of Section 18-135.Notwithstanding any other provision of law, for levy year 2012, the aggregate extension base for West Northfield School District No. 31 in Cook County shall be $12,654,592."Levy year" has the same meaning as "year" under Section  1-155."New property" means (i) the assessed value, after final board of review or  board of appeals action, of new improvements or additions to existing  improvements on any parcel of real property that increase the assessed value of  that real property during the levy year multiplied by the equalization factor  issued by the Department under Section 17-30, (ii) the assessed value, after  final board of review or board of appeals action, of real property not exempt  from real estate taxation, which real property was exempt from real estate  taxation for any portion of the immediately preceding levy year, multiplied by  the equalization factor issued by the Department under Section 17-30, including the assessed value, upon final stabilization of occupancy after new construction is complete, of any real property located within the boundaries of an otherwise or previously exempt military reservation that is intended for residential use and owned by or leased to a private corporation or other entity,  (iii) in counties that classify in accordance with Section 4 of Article  IX of the  Illinois Constitution, an incentive property's additional assessed value  resulting from a  scheduled increase in the level of assessment as applied to the first year  final board of  review market value, and (iv) any increase in assessed value due to oil or gas production from an oil or gas well required to be permitted under the Hydraulic Fracturing Regulatory Act that was not produced in or accounted for during the previous levy year.  In addition, the county clerk in a county containing a population of  3,000,000 or more shall include in the 1997  recovered tax increment value for any school district, any recovered tax  increment value that was applicable to the 1995 tax year calculations."Qualified airport authority" means an airport authority organized under  the Airport Authorities Act and located in a county bordering on the State of  Wisconsin and having a population in excess of 200,000 and not greater than  500,000."Recovered tax increment value" means, except as otherwise provided in this  paragraph, the amount of the current year's equalized assessed value, in the  first year after a municipality terminates  the designation of an area as a redevelopment project area previously  established under the Tax Increment Allocation Redevelopment Act in the Illinois  Municipal Code, previously established under the Industrial Jobs Recovery Law  in the Illinois Municipal Code, previously established under the Economic Development Project Area Tax Increment Act of 1995, or previously established under the Economic  Development Area Tax Increment Allocation Act, of each taxable lot, block,  tract, or parcel of real property in the redevelopment project area over and  above the initial equalized assessed value of each property in the  redevelopment project area.  For the taxes which are extended for the 1997 levy year, the recovered tax  increment value for a non-home rule taxing district that first became subject  to this Law for the 1995 levy year because a majority of its 1994 equalized  assessed value was in an affected county or counties shall be increased if a  municipality terminated the designation of an area in 1993 as a redevelopment  project area previously established under the Tax Increment Allocation Redevelopment   Act in the Illinois Municipal Code, previously established under  the Industrial Jobs Recovery Law in the Illinois Municipal Code, or previously  established under the Economic Development Area Tax Increment Allocation Act,  by an amount equal to the 1994 equalized assessed value of each taxable lot,  block, tract, or parcel of real property in the redevelopment project area over  and above the initial equalized assessed value of each property in the  redevelopment project area.  In the first year after a municipality  removes a taxable lot, block, tract, or parcel of real property from a  redevelopment project area established under the Tax Increment Allocation Redevelopment   Act in the Illinois  Municipal Code, the Industrial Jobs Recovery Law  in the Illinois Municipal Code, or the Economic  Development Area Tax Increment Allocation Act, "recovered tax increment value"  means the amount of the current year's equalized assessed value of each taxable  lot, block, tract, or parcel of real property removed from the redevelopment  project area over and above the initial equalized assessed value of that real  property before removal from the redevelopment project area.Except as otherwise provided in this Section, "limiting rate" means a  fraction the numerator of which is the last  preceding aggregate extension base times an amount equal to one plus the  extension limitation defined in this Section and the denominator of which  is the current year's equalized assessed value of all real property in the  territory under the jurisdiction of the taxing district during the prior  levy year.  For those taxing districts that reduced their aggregate  extension for the last preceding levy year, except for school districts that reduced their extension for educational purposes pursuant to Section 18-206, the highest aggregate extension  in any of the last 3 preceding levy years shall be used for the purpose of  computing the limiting rate.  The denominator shall not include new  property or the recovered tax increment  value.  If a new rate, a rate decrease, or a limiting rate increase has been approved at an election held after March 21, 2006, then (i) the otherwise applicable limiting rate shall be increased by the amount of the new rate or shall be reduced by the amount of the rate decrease, as the case may be, or (ii) in the case of a limiting rate increase, the limiting rate shall be equal to the rate set forth  in the proposition approved by the voters for each of the years specified in the proposition, after  which the limiting rate of the taxing district shall be calculated as otherwise provided. In the case of a taxing district that obtained referendum approval for an increased limiting rate on March 20, 2012, the limiting rate for tax year 2012 shall be the rate that generates the approximate total amount of taxes extendable for that tax year, as set forth in the proposition approved by the voters; this rate shall be the final rate applied by the county clerk for the aggregate of all capped funds of the district for tax year 2012.  (Source: P.A. 102-263, eff. 8-6-21.)(Text of Section from P.A. 102-311)Sec. 18-185. Short title; definitions.   This Division 5 may be cited as the  Property Tax Extension Limitation Law.  As used in this Division 5:"Consumer Price Index" means the Consumer Price Index for All Urban  Consumers for all items published by the United States Department of Labor."Extension limitation" means (a) the lesser of 5% or the percentage increase  in the Consumer Price Index during the 12-month calendar year preceding the  levy year or (b) the rate of increase approved by voters under Section 18-205."Affected county" means a county of 3,000,000 or more inhabitants or a  county contiguous to a county of 3,000,000 or more inhabitants."Taxing district" has the same meaning provided in Section 1-150, except as  otherwise provided in this Section.  For the 1991 through 1994 levy years only,  "taxing district" includes only each non-home rule taxing district having the  majority of its  1990 equalized assessed value within any county or counties contiguous to a  county with 3,000,000 or more inhabitants.  Beginning with the 1995 levy  year, "taxing district" includes only each non-home rule taxing district  subject to this Law before the 1995 levy year and each non-home rule  taxing district not subject to this Law before the 1995 levy year having the  majority of its 1994 equalized assessed value in an affected county or  counties.  Beginning with the levy year in  which this Law becomes applicable to a taxing district as  provided in Section 18-213, "taxing district" also includes those taxing  districts made subject to this Law as provided in Section 18-213."Aggregate extension" for taxing districts to which this Law applied before  the 1995 levy year means the annual corporate extension for the taxing  district and those special purpose extensions that are made annually for  the taxing district, excluding special purpose extensions: (a) made for the  taxing district to pay interest or principal on general obligation bonds  that were approved by referendum; (b) made for any taxing district to pay  interest or principal on general obligation bonds issued before October 1,  1991; (c) made for any taxing district to pay interest or principal on bonds  issued to refund or continue to refund those bonds issued before October 1,  1991; (d)  made for any taxing district to pay interest or principal on bonds  issued to refund or continue to refund bonds issued after October 1, 1991 that  were approved by referendum; (e)  made for any taxing district to pay interest  or principal on revenue bonds issued before October 1, 1991 for payment of  which a property tax levy or the full faith and credit of the unit of local  government is pledged; however, a tax for the payment of interest or principal  on those bonds shall be made only after the governing body of the unit of local  government finds that all other sources for payment are insufficient to make  those payments; (f) made for payments under a building commission lease when  the lease payments are for the retirement of bonds issued by the commission  before October 1, 1991, to pay for the building project; (g) made for payments  due under installment contracts entered into before October 1, 1991;  (h) made for payments of principal and interest on bonds issued under the  Metropolitan Water Reclamation District Act to finance construction projects  initiated before October 1, 1991; (i) made for payments of principal and  interest on limited bonds, as defined in Section 3 of the Local Government Debt  Reform Act, in an amount not to exceed the debt service extension base less  the amount in items (b), (c), (e), and (h) of this definition for  non-referendum obligations, except obligations initially issued pursuant to  referendum; (j) made for payments of principal and interest on bonds  issued under Section 15 of the Local Government Debt Reform Act; (k)  made  by a school district that participates in the Special Education District of  Lake County, created by special education joint agreement under Section  10-22.31 of the School Code, for payment of the school district's share of the  amounts required to be contributed by the Special Education District of Lake  County to the Illinois Municipal Retirement Fund under Article 7 of the  Illinois Pension Code; the amount of any extension under this item (k) shall be  certified by the school district to the county clerk; (l) made to fund  expenses of providing joint recreational programs for persons with disabilities under  Section 5-8 of  the  Park District Code or Section 11-95-14 of the Illinois Municipal Code; (m) made for temporary relocation loan repayment purposes pursuant to Sections 2-3.77 and 17-2.2d of the School Code;  (n) made for payment of principal and interest on any bonds issued under the authority of Section 17-2.2d of the School Code; (o) made for contributions to a firefighter's pension fund created under Article 4 of the Illinois Pension Code, to the extent of the amount certified under item (5) of Section 4-134 of the Illinois Pension Code; and (p) made for road purposes in the first year after a township assumes the rights, powers, duties, assets, property, liabilities, obligations, and  responsibilities of a road district abolished under the provisions of Section 6-133 of  the Illinois Highway Code."Aggregate extension" for the taxing districts to which this Law did not  apply before the 1995 levy year (except taxing districts subject to this Law  in  accordance with Section 18-213) means the annual corporate extension for the  taxing district and those special purpose extensions that are made annually for  the taxing district, excluding special purpose extensions: (a) made for the  taxing district to pay interest or principal on general obligation bonds that  were approved by referendum; (b) made for any taxing district to pay interest  or principal on general obligation bonds issued before March 1, 1995; (c) made  for any taxing district to pay interest or principal on bonds issued to refund  or continue to refund those bonds issued before March 1, 1995; (d) made for any  taxing district to pay interest or principal on bonds issued to refund or  continue to refund bonds issued after March 1, 1995 that were approved by  referendum; (e) made for any taxing district to pay interest or principal on  revenue bonds issued before March 1, 1995 for payment of which a property tax  levy or the full faith and credit of the unit of local government is pledged;  however, a tax for the payment of interest or principal on those bonds shall be  made only after the governing body of the unit of local government finds that  all other sources for payment are insufficient to make those payments; (f) made  for payments under a building commission lease when the lease payments are for  the retirement of bonds issued by the commission before March 1, 1995 to  pay for the building project; (g) made for payments due under installment  contracts entered into before March 1, 1995; (h) made for payments of  principal and interest on bonds issued under the Metropolitan Water Reclamation  District Act to finance construction projects initiated before October 1,  1991; (h-4) made for stormwater management purposes by the Metropolitan Water Reclamation District of Greater Chicago under Section 12 of the Metropolitan Water Reclamation District Act; (i) made for payments of principal and interest on limited bonds,  as defined in Section 3 of the Local Government Debt Reform Act, in an amount  not to exceed the debt service extension base less the amount in items (b),  (c), and (e) of this definition for non-referendum obligations, except  obligations initially issued pursuant to referendum and bonds described in  subsection (h) of this definition; (j) made for payments of  principal and interest on bonds issued under Section 15 of the Local Government  Debt Reform Act; (k) made for payments of principal and interest on bonds  authorized by Public Act 88-503 and issued under Section 20a of the Chicago  Park District Act for aquarium or  museum projects; (l) made for payments of principal and interest on  bonds  authorized by Public Act 87-1191 or 93-601 and (i) issued pursuant to Section 21.2 of the Cook County Forest  Preserve District Act, (ii) issued under Section 42 of the Cook County  Forest Preserve District Act for zoological park projects, or (iii) issued  under Section 44.1 of the Cook County Forest Preserve District Act for  botanical gardens projects; (m) made  pursuant  to Section 34-53.5 of the School Code, whether levied annually or not;  (n) made to fund expenses of providing joint recreational programs for persons with disabilities under Section 5-8 of the Park  District Code or Section 11-95-14 of the Illinois Municipal Code;   (o) made by the  Chicago Park  District for recreational programs for persons with disabilities under subsection (c) of  Section  7.06 of the Chicago Park District Act; (p) made for contributions to a firefighter's pension fund created under Article 4 of the Illinois Pension Code, to the extent of the amount certified under item (5) of Section 4-134 of the Illinois Pension Code; (q) made by Ford Heights School District 169 under Section 17-9.02 of the School Code; and (r) made for the purpose of making employer contributions to the Public School Teachers' Pension and Retirement Fund of Chicago under Section 34-53 of the School Code."Aggregate extension" for all taxing districts to which this Law applies in  accordance with Section 18-213, except for those taxing districts subject to  paragraph (2) of subsection (e) of Section 18-213, means the annual corporate  extension for the  taxing district and those special purpose extensions that are made annually for  the taxing district, excluding special purpose extensions: (a) made for the  taxing district to pay interest or principal on general obligation bonds that  were approved by referendum; (b) made for any taxing district to pay interest  or principal on general obligation bonds issued before the date on which the  referendum making this  Law applicable to the taxing district is held; (c) made  for any taxing district to pay interest or principal on bonds issued to refund  or continue to refund those bonds issued before the date on which the  referendum making this Law  applicable to the taxing district is held;  (d) made for any  taxing district to pay interest or principal on bonds issued to refund or  continue to refund bonds issued after the date on which the referendum making  this Law  applicable to the taxing district is held if the bonds were approved by  referendum after the date on which the referendum making this Law  applicable to the taxing district is held; (e) made for any  taxing district to pay interest or principal on  revenue bonds issued before the date on which the referendum making this Law  applicable to the  taxing district is held for payment of which a property tax  levy or the full faith and credit of the unit of local government is pledged;  however, a tax for the payment of interest or principal on those bonds shall be  made only after the governing body of the unit of local government finds that  all other sources for payment are insufficient to make those payments; (f) made  for payments under a building commission lease when the lease payments are for  the retirement of bonds issued by the commission before the date on which the  referendum making this  Law applicable to the taxing district is held to  pay for the building project; (g) made for payments due under installment  contracts entered into before the date on which the referendum making this Law  applicable to  the taxing district is held;  (h) made for payments  of principal and interest on limited bonds,  as defined in Section 3 of the Local Government Debt Reform Act, in an amount  not to exceed the debt service extension base less the amount in items (b),  (c), and (e) of this definition for non-referendum obligations, except  obligations initially issued pursuant to referendum; (i) made for payments  of  principal and interest on bonds issued under Section 15 of the Local Government  Debt Reform Act;  (j)  made for a qualified airport authority to pay interest or principal on  general obligation bonds issued for the purpose of paying obligations due  under, or financing airport facilities required to be acquired, constructed,  installed or equipped pursuant to, contracts entered into before March  1, 1996 (but not including any amendments to such a contract taking effect on  or after that date); (k) made to fund expenses of providing joint  recreational programs for persons with disabilities under Section 5-8 of  the  Park District Code or Section 11-95-14 of the Illinois Municipal Code; (l) made for contributions to a firefighter's pension fund created under Article 4 of the Illinois Pension Code, to the extent of the amount certified under item (5) of Section 4-134 of the Illinois Pension Code; and (m) made for the taxing district to pay interest or principal on general obligation bonds issued pursuant to Section 19-3.10 of the School Code."Aggregate extension" for all taxing districts to which this Law applies in  accordance with paragraph (2) of subsection (e) of Section 18-213 means the  annual corporate extension for the  taxing district and those special purpose extensions that are made annually for  the taxing district, excluding special purpose extensions: (a) made for the  taxing district to pay interest or principal on general obligation bonds that  were approved by referendum; (b) made for any taxing district to pay interest  or principal on general obligation bonds issued before March 7, 1997 (the effective date of Public Act 89-718);  (c) made  for any taxing district to pay interest or principal on bonds issued to refund  or continue to refund those bonds issued before March 7, 1997 (the effective date  of Public Act 89-718);  (d) made for any  taxing district to pay interest or principal on bonds issued to refund or  continue to refund bonds issued after March 7, 1997 (the effective date of Public Act 89-718) if the bonds were approved by referendum after March 7, 1997 (the effective date of Public Act 89-718);  (e) made for any  taxing district to pay interest or principal on  revenue bonds issued before March 7, 1997 (the effective date of Public Act 89-718)   for payment of which a property tax  levy or the full faith and credit of the unit of local government is pledged;  however, a tax for the payment of interest or principal on those bonds shall be  made only after the governing body of the unit of local government finds that  all other sources for payment are insufficient to make those payments; (f) made  for payments under a building commission lease when the lease payments are for  the retirement of bonds issued by the commission before March 7, 1997 (the effective date  of Public Act 89-718)   to  pay for the building project; (g) made for payments due under installment  contracts entered into before March 7, 1997 (the effective date of Public Act 89-718);  (h) made for payments  of principal and interest on limited bonds,  as defined in Section 3 of the Local Government Debt Reform Act, in an amount  not to exceed the debt service extension base less the amount in items (b),  (c), and (e) of this definition for non-referendum obligations, except  obligations initially issued pursuant to referendum; (i) made for payments  of  principal and interest on bonds issued under Section 15 of the Local Government  Debt Reform Act;  (j)  made for a qualified airport authority to pay interest or principal on  general obligation bonds issued for the purpose of paying obligations due  under, or financing airport facilities required to be acquired, constructed,  installed or equipped pursuant to, contracts entered into before March  1, 1996 (but not including any amendments to such a contract taking effect on  or after that date); (k) made to fund expenses of providing joint  recreational programs for persons with disabilities under Section 5-8 of  the  Park District Code or Section 11-95-14 of the Illinois Municipal Code; and (l) made for contributions to a firefighter's pension fund created under Article 4 of the Illinois Pension Code, to the extent of the amount certified under item (5) of Section 4-134 of the Illinois Pension Code."Debt service extension base" means an amount equal to that portion of the  extension for a taxing district for the 1994 levy year, or for those taxing  districts subject to this Law in accordance with Section 18-213, except for  those subject to paragraph (2) of subsection (e) of Section 18-213, for the  levy  year in which the referendum making this Law applicable to the taxing district  is held, or for those taxing districts subject to this Law in accordance with  paragraph (2) of subsection (e) of Section 18-213 for the 1996 levy year,  constituting an  extension for payment of principal and interest on bonds issued by the taxing  district without referendum,  but not including excluded non-referendum bonds.  For park districts (i) that were first  subject to this Law in 1991 or 1995 and (ii) whose extension for the 1994 levy  year for the payment of principal and interest on bonds issued by the park  district without referendum (but not including excluded non-referendum bonds)  was less than 51% of the amount for the 1991 levy year constituting an  extension for payment of principal and interest on bonds issued by the park  district without referendum (but not including excluded non-referendum bonds),  "debt service extension base" means an amount equal to that portion of the  extension for the 1991 levy year constituting an extension for payment of  principal and interest on bonds issued by the park district without referendum  (but not including excluded non-referendum bonds).  A debt service extension base established or increased at any time pursuant to any provision of this Law, except Section 18-212, shall be increased each year commencing with the later of (i) the 2009 levy year or (ii) the first levy year in which this Law becomes applicable to the taxing district, by the lesser of 5% or the percentage increase in the Consumer Price Index during the 12-month calendar year preceding the levy year. The debt service extension  base may be established or increased as provided under Section 18-212.  "Excluded non-referendum bonds" means (i) bonds authorized by Public  Act 88-503 and issued under Section 20a of the Chicago Park District Act for  aquarium and museum projects; (ii) bonds issued under Section 15 of the  Local Government Debt Reform Act; or (iii) refunding obligations issued  to refund or to continue to refund obligations initially issued pursuant to  referendum."Special purpose extensions" include, but are not limited to, extensions  for levies made on an annual basis for unemployment and workers'  compensation, self-insurance, contributions to pension plans, and extensions  made pursuant to Section 6-601 of the Illinois Highway Code for a road  district's permanent road fund whether levied annually or not.  The  extension for a special service area is not included in the  aggregate extension."Aggregate extension base" means the taxing district's last preceding  aggregate extension as adjusted under Sections 18-135, 18-215,   18-230, and 18-206.   An adjustment under Section 18-135 shall be made for the 2007 levy year and all subsequent levy years whenever one or more counties within which a taxing district is located (i) used estimated valuations or rates when extending taxes in the taxing district for the last preceding levy year that resulted in the over or under extension of taxes, or (ii) increased or decreased the tax extension for the last preceding levy year as required by Section 18-135(c). Whenever an adjustment is required under Section 18-135, the aggregate extension base of the taxing district shall be equal to the amount that the aggregate extension of the taxing district would have been for the last preceding levy year if either or both (i) actual, rather than estimated, valuations or rates had been used to calculate the extension of taxes for the last levy year, or (ii) the tax extension for the last preceding levy year had not been adjusted as required by subsection (c) of Section 18-135.Notwithstanding any other provision of law, for levy year 2012, the aggregate extension base for West Northfield School District No. 31 in Cook County shall be $12,654,592.Notwithstanding any other provision of law, for levy year 2022, the aggregate extension base of a home equity assurance program that levied at least $1,000,000 in property taxes in levy year 2019 or 2020 under the Home Equity Assurance Act shall be the amount that the program's aggregate extension base for levy year 2021 would have been if the program had levied  a property tax for levy year 2021."Levy year" has the same meaning as "year" under Section  1-155."New property" means (i) the assessed value, after final board of review or  board of appeals action, of new improvements or additions to existing  improvements on any parcel of real property that increase the assessed value of  that real property during the levy year multiplied by the equalization factor  issued by the Department under Section 17-30, (ii) the assessed value, after  final board of review or board of appeals action, of real property not exempt  from real estate taxation, which real property was exempt from real estate  taxation for any portion of the immediately preceding levy year, multiplied by  the equalization factor issued by the Department under Section 17-30, including the assessed value, upon final stabilization of occupancy after new construction is complete, of any real property located within the boundaries of an otherwise or previously exempt military reservation that is intended for residential use and owned by or leased to a private corporation or other entity,  (iii) in counties that classify in accordance with Section 4 of Article  IX of the  Illinois Constitution, an incentive property's additional assessed value  resulting from a  scheduled increase in the level of assessment as applied to the first year  final board of  review market value, and (iv) any increase in assessed value due to oil or gas production from an oil or gas well required to be permitted under the Hydraulic Fracturing Regulatory Act that was not produced in or accounted for during the previous levy year.  In addition, the county clerk in a county containing a population of  3,000,000 or more shall include in the 1997  recovered tax increment value for any school district, any recovered tax  increment value that was applicable to the 1995 tax year calculations."Qualified airport authority" means an airport authority organized under  the Airport Authorities Act and located in a county bordering on the State of  Wisconsin and having a population in excess of 200,000 and not greater than  500,000."Recovered tax increment value" means, except as otherwise provided in this  paragraph, the amount of the current year's equalized assessed value, in the  first year after a municipality terminates  the designation of an area as a redevelopment project area previously  established under the Tax Increment Allocation Redevelopment Act in the Illinois  Municipal Code, previously established under the Industrial Jobs Recovery Law  in the Illinois Municipal Code, previously established under the Economic Development Project Area Tax Increment Act of 1995, or previously established under the Economic  Development Area Tax Increment Allocation Act, of each taxable lot, block,  tract, or parcel of real property in the redevelopment project area over and  above the initial equalized assessed value of each property in the  redevelopment project area.  For the taxes which are extended for the 1997 levy year, the recovered tax  increment value for a non-home rule taxing district that first became subject  to this Law for the 1995 levy year because a majority of its 1994 equalized  assessed value was in an affected county or counties shall be increased if a  municipality terminated the designation of an area in 1993 as a redevelopment  project area previously established under the Tax Increment Allocation Redevelopment   Act in the Illinois Municipal Code, previously established under  the Industrial Jobs Recovery Law in the Illinois Municipal Code, or previously  established under the Economic Development Area Tax Increment Allocation Act,  by an amount equal to the 1994 equalized assessed value of each taxable lot,  block, tract, or parcel of real property in the redevelopment project area over  and above the initial equalized assessed value of each property in the  redevelopment project area.  In the first year after a municipality  removes a taxable lot, block, tract, or parcel of real property from a  redevelopment project area established under the Tax Increment Allocation Redevelopment   Act in the Illinois  Municipal Code, the Industrial Jobs Recovery Law  in the Illinois Municipal Code, or the Economic  Development Area Tax Increment Allocation Act, "recovered tax increment value"  means the amount of the current year's equalized assessed value of each taxable  lot, block, tract, or parcel of real property removed from the redevelopment  project area over and above the initial equalized assessed value of that real  property before removal from the redevelopment project area.Except as otherwise provided in this Section, "limiting rate" means a  fraction the numerator of which is the last  preceding aggregate extension base times an amount equal to one plus the  extension limitation defined in this Section and the denominator of which  is the current year's equalized assessed value of all real property in the  territory under the jurisdiction of the taxing district during the prior  levy year.  For those taxing districts that reduced their aggregate  extension for the last preceding levy year, except for school districts that reduced their extension for educational purposes pursuant to Section 18-206, the highest aggregate extension  in any of the last 3 preceding levy years shall be used for the purpose of  computing the limiting rate.  The denominator shall not include new  property or the recovered tax increment  value.  If a new rate, a rate decrease, or a limiting rate increase has been approved at an election held after March 21, 2006, then (i) the otherwise applicable limiting rate shall be increased by the amount of the new rate or shall be reduced by the amount of the rate decrease, as the case may be, or (ii) in the case of a limiting rate increase, the limiting rate shall be equal to the rate set forth  in the proposition approved by the voters for each of the years specified in the proposition, after  which the limiting rate of the taxing district shall be calculated as otherwise provided. In the case of a taxing district that obtained referendum approval for an increased limiting rate on March 20, 2012, the limiting rate for tax year 2012 shall be the rate that generates the approximate total amount of taxes extendable for that tax year, as set forth in the proposition approved by the voters; this rate shall be the final rate applied by the county clerk for the aggregate of all capped funds of the district for tax year 2012.  (Source: P.A. 102-311, eff. 8-6-21.)(Text of Section from P.A. 102-519)Sec. 18-185. Short title; definitions.   This Division 5 may be cited as the  Property Tax Extension Limitation Law.  As used in this Division 5:"Consumer Price Index" means the Consumer Price Index for All Urban  Consumers for all items published by the United States Department of Labor."Extension limitation" means (a) the lesser of 5% or the percentage increase  in the Consumer Price Index during the 12-month calendar year preceding the  levy year or (b) the rate of increase approved by voters under Section 18-205."Affected county" means a county of 3,000,000 or more inhabitants or a  county contiguous to a county of 3,000,000 or more inhabitants."Taxing district" has the same meaning provided in Section 1-150, except as  otherwise provided in this Section.  For the 1991 through 1994 levy years only,  "taxing district" includes only each non-home rule taxing district having the  majority of its  1990 equalized assessed value within any county or counties contiguous to a  county with 3,000,000 or more inhabitants.  Beginning with the 1995 levy  year, "taxing district" includes only each non-home rule taxing district  subject to this Law before the 1995 levy year and each non-home rule  taxing district not subject to this Law before the 1995 levy year having the  majority of its 1994 equalized assessed value in an affected county or  counties.  Beginning with the levy year in  which this Law becomes applicable to a taxing district as  provided in Section 18-213, "taxing district" also includes those taxing  districts made subject to this Law as provided in Section 18-213."Aggregate extension" for taxing districts to which this Law applied before  the 1995 levy year means the annual corporate extension for the taxing  district and those special purpose extensions that are made annually for  the taxing district, excluding special purpose extensions: (a) made for the  taxing district to pay interest or principal on general obligation bonds  that were approved by referendum; (b) made for any taxing district to pay  interest or principal on general obligation bonds issued before October 1,  1991; (c) made for any taxing district to pay interest or principal on bonds  issued to refund or continue to refund those bonds issued before October 1,  1991; (d)  made for any taxing district to pay interest or principal on bonds  issued to refund or continue to refund bonds issued after October 1, 1991 that  were approved by referendum; (e)  made for any taxing district to pay interest  or principal on revenue bonds issued before October 1, 1991 for payment of  which a property tax levy or the full faith and credit of the unit of local  government is pledged; however, a tax for the payment of interest or principal  on those bonds shall be made only after the governing body of the unit of local  government finds that all other sources for payment are insufficient to make  those payments; (f) made for payments under a building commission lease when  the lease payments are for the retirement of bonds issued by the commission  before October 1, 1991, to pay for the building project; (g) made for payments  due under installment contracts entered into before October 1, 1991;  (h) made for payments of principal and interest on bonds issued under the  Metropolitan Water Reclamation District Act to finance construction projects  initiated before October 1, 1991; (i) made for payments of principal and  interest on limited bonds, as defined in Section 3 of the Local Government Debt  Reform Act, in an amount not to exceed the debt service extension base less  the amount in items (b), (c), (e), and (h) of this definition for  non-referendum obligations, except obligations initially issued pursuant to  referendum; (j) made for payments of principal and interest on bonds  issued under Section 15 of the Local Government Debt Reform Act; (k)  made  by a school district that participates in the Special Education District of  Lake County, created by special education joint agreement under Section  10-22.31 of the School Code, for payment of the school district's share of the  amounts required to be contributed by the Special Education District of Lake  County to the Illinois Municipal Retirement Fund under Article 7 of the  Illinois Pension Code; the amount of any extension under this item (k) shall be  certified by the school district to the county clerk; (l) made to fund  expenses of providing joint recreational programs for persons with disabilities under  Section 5-8 of  the  Park District Code or Section 11-95-14 of the Illinois Municipal Code; (m) made for temporary relocation loan repayment purposes pursuant to Sections 2-3.77 and 17-2.2d of the School Code;  (n) made for payment of principal and interest on any bonds issued under the authority of Section 17-2.2d of the School Code; (o) made for contributions to a firefighter's pension fund created under Article 4 of the Illinois Pension Code, to the extent of the amount certified under item (5) of Section 4-134 of the Illinois Pension Code; and (p) made for road purposes in the first year after a township assumes the rights, powers, duties, assets, property, liabilities, obligations, and  responsibilities of a road district abolished under the provisions of Section 6-133 of  the Illinois Highway Code."Aggregate extension" for the taxing districts to which this Law did not  apply before the 1995 levy year (except taxing districts subject to this Law  in  accordance with Section 18-213) means the annual corporate extension for the  taxing district and those special purpose extensions that are made annually for  the taxing district, excluding special purpose extensions: (a) made for the  taxing district to pay interest or principal on general obligation bonds that  were approved by referendum; (b) made for any taxing district to pay interest  or principal on general obligation bonds issued before March 1, 1995; (c) made  for any taxing district to pay interest or principal on bonds issued to refund  or continue to refund those bonds issued before March 1, 1995; (d) made for any  taxing district to pay interest or principal on bonds issued to refund or  continue to refund bonds issued after March 1, 1995 that were approved by  referendum; (e) made for any taxing district to pay interest or principal on  revenue bonds issued before March 1, 1995 for payment of which a property tax  levy or the full faith and credit of the unit of local government is pledged;  however, a tax for the payment of interest or principal on those bonds shall be  made only after the governing body of the unit of local government finds that  all other sources for payment are insufficient to make those payments; (f) made  for payments under a building commission lease when the lease payments are for  the retirement of bonds issued by the commission before March 1, 1995 to  pay for the building project; (g) made for payments due under installment  contracts entered into before March 1, 1995; (h) made for payments of  principal and interest on bonds issued under the Metropolitan Water Reclamation  District Act to finance construction projects initiated before October 1,  1991; (h-4) made for stormwater management purposes by the Metropolitan Water Reclamation District of Greater Chicago under Section 12 of the Metropolitan Water Reclamation District Act; (i) made for payments of principal and interest on limited bonds,  as defined in Section 3 of the Local Government Debt Reform Act, in an amount  not to exceed the debt service extension base less the amount in items (b),  (c), and (e) of this definition for non-referendum obligations, except  obligations initially issued pursuant to referendum and bonds described in  subsection (h) of this definition; (j) made for payments of  principal and interest on bonds issued under Section 15 of the Local Government  Debt Reform Act; (k) made for payments of principal and interest on bonds  authorized by Public Act 88-503 and issued under Section 20a of the Chicago  Park District Act for aquarium or  museum projects; (l) made for payments of principal and interest on  bonds  authorized by Public Act 87-1191 or 93-601 and (i) issued pursuant to Section 21.2 of the Cook County Forest  Preserve District Act, (ii) issued under Section 42 of the Cook County  Forest Preserve District Act for zoological park projects, or (iii) issued  under Section 44.1 of the Cook County Forest Preserve District Act for  botanical gardens projects; (m) made  pursuant  to Section 34-53.5 of the School Code, whether levied annually or not;  (n) made to fund expenses of providing joint recreational programs for persons with disabilities under Section 5-8 of the Park  District Code or Section 11-95-14 of the Illinois Municipal Code;   (o) made by the  Chicago Park  District for recreational programs for persons with disabilities under subsection (c) of  Section  7.06 of the Chicago Park District Act; (p) made for contributions to a firefighter's pension fund created under Article 4 of the Illinois Pension Code, to the extent of the amount certified under item (5) of Section 4-134 of the Illinois Pension Code; (q) made by Ford Heights School District 169 under Section 17-9.02 of the School Code; and (r) made for the purpose of making employer contributions to the Public School Teachers' Pension and Retirement Fund of Chicago under Section 34-53 of the School Code."Aggregate extension" for all taxing districts to which this Law applies in  accordance with Section 18-213, except for those taxing districts subject to  paragraph (2) of subsection (e) of Section 18-213, means the annual corporate  extension for the  taxing district and those special purpose extensions that are made annually for  the taxing district, excluding special purpose extensions: (a) made for the  taxing district to pay interest or principal on general obligation bonds that  were approved by referendum; (b) made for any taxing district to pay interest  or principal on general obligation bonds issued before the date on which the  referendum making this  Law applicable to the taxing district is held; (c) made  for any taxing district to pay interest or principal on bonds issued to refund  or continue to refund those bonds issued before the date on which the  referendum making this Law  applicable to the taxing district is held;  (d) made for any  taxing district to pay interest or principal on bonds issued to refund or  continue to refund bonds issued after the date on which the referendum making  this Law  applicable to the taxing district is held if the bonds were approved by  referendum after the date on which the referendum making this Law  applicable to the taxing district is held; (e) made for any  taxing district to pay interest or principal on  revenue bonds issued before the date on which the referendum making this Law  applicable to the  taxing district is held for payment of which a property tax  levy or the full faith and credit of the unit of local government is pledged;  however, a tax for the payment of interest or principal on those bonds shall be  made only after the governing body of the unit of local government finds that  all other sources for payment are insufficient to make those payments; (f) made  for payments under a building commission lease when the lease payments are for  the retirement of bonds issued by the commission before the date on which the  referendum making this  Law applicable to the taxing district is held to  pay for the building project; (g) made for payments due under installment  contracts entered into before the date on which the referendum making this Law  applicable to  the taxing district is held;  (h) made for payments  of principal and interest on limited bonds,  as defined in Section 3 of the Local Government Debt Reform Act, in an amount  not to exceed the debt service extension base less the amount in items (b),  (c), and (e) of this definition for non-referendum obligations, except  obligations initially issued pursuant to referendum; (i) made for payments  of  principal and interest on bonds issued under Section 15 of the Local Government  Debt Reform Act;  (j)  made for a qualified airport authority to pay interest or principal on  general obligation bonds issued for the purpose of paying obligations due  under, or financing airport facilities required to be acquired, constructed,  installed or equipped pursuant to, contracts entered into before March  1, 1996 (but not including any amendments to such a contract taking effect on  or after that date); (k) made to fund expenses of providing joint  recreational programs for persons with disabilities under Section 5-8 of  the  Park District Code or Section 11-95-14 of the Illinois Municipal Code; (l) made for contributions to a firefighter's pension fund created under Article 4 of the Illinois Pension Code, to the extent of the amount certified under item (5) of Section 4-134 of the Illinois Pension Code; and (m) made for the taxing district to pay interest or principal on general obligation bonds issued pursuant to Section 19-3.10 of the School Code."Aggregate extension" for all taxing districts to which this Law applies in  accordance with paragraph (2) of subsection (e) of Section 18-213 means the  annual corporate extension for the  taxing district and those special purpose extensions that are made annually for  the taxing district, excluding special purpose extensions: (a) made for the  taxing district to pay interest or principal on general obligation bonds that  were approved by referendum; (b) made for any taxing district to pay interest  or principal on general obligation bonds issued before March 7, 1997 (the effective date of Public Act 89-718);  (c) made  for any taxing district to pay interest or principal on bonds issued to refund  or continue to refund those bonds issued before March 7, 1997 (the effective date  of Public Act 89-718);  (d) made for any  taxing district to pay interest or principal on bonds issued to refund or  continue to refund bonds issued after March 7, 1997 (the effective date of Public Act 89-718) if the bonds were approved by referendum after March 7, 1997 (the effective date of Public Act 89-718);  (e) made for any  taxing district to pay interest or principal on  revenue bonds issued before March 7, 1997 (the effective date of Public Act 89-718)   for payment of which a property tax  levy or the full faith and credit of the unit of local government is pledged;  however, a tax for the payment of interest or principal on those bonds shall be  made only after the governing body of the unit of local government finds that  all other sources for payment are insufficient to make those payments; (f) made  for payments under a building commission lease when the lease payments are for  the retirement of bonds issued by the commission before March 7, 1997 (the effective date  of Public Act 89-718)   to  pay for the building project; (g) made for payments due under installment  contracts entered into before March 7, 1997 (the effective date of Public Act 89-718);  (h) made for payments  of principal and interest on limited bonds,  as defined in Section 3 of the Local Government Debt Reform Act, in an amount  not to exceed the debt service extension base less the amount in items (b),  (c), and (e) of this definition for non-referendum obligations, except  obligations initially issued pursuant to referendum; (i) made for payments  of  principal and interest on bonds issued under Section 15 of the Local Government  Debt Reform Act;  (j)  made for a qualified airport authority to pay interest or principal on  general obligation bonds issued for the purpose of paying obligations due  under, or financing airport facilities required to be acquired, constructed,  installed or equipped pursuant to, contracts entered into before March  1, 1996 (but not including any amendments to such a contract taking effect on  or after that date); (k) made to fund expenses of providing joint  recreational programs for persons with disabilities under Section 5-8 of  the  Park District Code or Section 11-95-14 of the Illinois Municipal Code; and (l) made for contributions to a firefighter's pension fund created under Article 4 of the Illinois Pension Code, to the extent of the amount certified under item (5) of Section 4-134 of the Illinois Pension Code."Debt service extension base" means an amount equal to that portion of the  extension for a taxing district for the 1994 levy year, or for those taxing  districts subject to this Law in accordance with Section 18-213, except for  those subject to paragraph (2) of subsection (e) of Section 18-213, for the  levy  year in which the referendum making this Law applicable to the taxing district  is held, or for those taxing districts subject to this Law in accordance with  paragraph (2) of subsection (e) of Section 18-213 for the 1996 levy year,  constituting an  extension for payment of principal and interest on bonds issued by the taxing  district without referendum,  but not including excluded non-referendum bonds.  For park districts (i) that were first  subject to this Law in 1991 or 1995 and (ii) whose extension for the 1994 levy  year for the payment of principal and interest on bonds issued by the park  district without referendum (but not including excluded non-referendum bonds)  was less than 51% of the amount for the 1991 levy year constituting an  extension for payment of principal and interest on bonds issued by the park  district without referendum (but not including excluded non-referendum bonds),  "debt service extension base" means an amount equal to that portion of the  extension for the 1991 levy year constituting an extension for payment of  principal and interest on bonds issued by the park district without referendum  (but not including excluded non-referendum bonds).  A debt service extension base established or increased at any time pursuant to any provision of this Law, except Section 18-212, shall be increased each year commencing with the later of (i) the 2009 levy year or (ii) the first levy year in which this Law becomes applicable to the taxing district, by the lesser of 5% or the percentage increase in the Consumer Price Index during the 12-month calendar year preceding the levy year. The debt service extension  base may be established or increased as provided under Section 18-212.  "Excluded non-referendum bonds" means (i) bonds authorized by Public  Act 88-503 and issued under Section 20a of the Chicago Park District Act for  aquarium and museum projects; (ii) bonds issued under Section 15 of the  Local Government Debt Reform Act; or (iii) refunding obligations issued  to refund or to continue to refund obligations initially issued pursuant to  referendum."Special purpose extensions" include, but are not limited to, extensions  for levies made on an annual basis for unemployment and workers'  compensation, self-insurance, contributions to pension plans, and extensions  made pursuant to Section 6-601 of the Illinois Highway Code for a road  district's permanent road fund whether levied annually or not.  The  extension for a special service area is not included in the  aggregate extension."Aggregate extension base" means the taxing district's last preceding  aggregate extension as adjusted under Sections 18-135, 18-215,   18-230, 18-206, and 18-233.   An adjustment under Section 18-135 shall be made for the 2007 levy year and all subsequent levy years whenever one or more counties within which a taxing district is located (i) used estimated valuations or rates when extending taxes in the taxing district for the last preceding levy year that resulted in the over or under extension of taxes, or (ii) increased or decreased the tax extension for the last preceding levy year as required by Section 18-135(c). Whenever an adjustment is required under Section 18-135, the aggregate extension base of the taxing district shall be equal to the amount that the aggregate extension of the taxing district would have been for the last preceding levy year if either or both (i) actual, rather than estimated, valuations or rates had been used to calculate the extension of taxes for the last levy year, or (ii) the tax extension for the last preceding levy year had not been adjusted as required by subsection (c) of Section 18-135.Notwithstanding any other provision of law, for levy year 2012, the aggregate extension base for West Northfield School District No. 31 in Cook County shall be $12,654,592.Notwithstanding any other provision of law, for levy year 2022, the aggregate extension base of a home equity assurance program that levied at least $1,000,000 in property taxes in levy year 2019 or 2020 under the Home Equity Assurance Act shall be the amount that the program's aggregate extension base for levy year 2021 would have been if the program had levied  a property tax for levy year 2021."Levy year" has the same meaning as "year" under Section  1-155."New property" means (i) the assessed value, after final board of review or  board of appeals action, of new improvements or additions to existing  improvements on any parcel of real property that increase the assessed value of  that real property during the levy year multiplied by the equalization factor  issued by the Department under Section 17-30, (ii) the assessed value, after  final board of review or board of appeals action, of real property not exempt  from real estate taxation, which real property was exempt from real estate  taxation for any portion of the immediately preceding levy year, multiplied by  the equalization factor issued by the Department under Section 17-30, including the assessed value, upon final stabilization of occupancy after new construction is complete, of any real property located within the boundaries of an otherwise or previously exempt military reservation that is intended for residential use and owned by or leased to a private corporation or other entity,  (iii) in counties that classify in accordance with Section 4 of Article  IX of the  Illinois Constitution, an incentive property's additional assessed value  resulting from a  scheduled increase in the level of assessment as applied to the first year  final board of  review market value, and (iv) any increase in assessed value due to oil or gas production from an oil or gas well required to be permitted under the Hydraulic Fracturing Regulatory Act that was not produced in or accounted for during the previous levy year.  In addition, the county clerk in a county containing a population of  3,000,000 or more shall include in the 1997  recovered tax increment value for any school district, any recovered tax  increment value that was applicable to the 1995 tax year calculations."Qualified airport authority" means an airport authority organized under  the Airport Authorities Act and located in a county bordering on the State of  Wisconsin and having a population in excess of 200,000 and not greater than  500,000."Recovered tax increment value" means, except as otherwise provided in this  paragraph, the amount of the current year's equalized assessed value, in the  first year after a municipality terminates  the designation of an area as a redevelopment project area previously  established under the Tax Increment Allocation Redevelopment Act in the Illinois  Municipal Code, previously established under the Industrial Jobs Recovery Law  in the Illinois Municipal Code, previously established under the Economic Development Project Area Tax Increment Act of 1995, or previously established under the Economic  Development Area Tax Increment Allocation Act, of each taxable lot, block,  tract, or parcel of real property in the redevelopment project area over and  above the initial equalized assessed value of each property in the  redevelopment project area.  For the taxes which are extended for the 1997 levy year, the recovered tax  increment value for a non-home rule taxing district that first became subject  to this Law for the 1995 levy year because a majority of its 1994 equalized  assessed value was in an affected county or counties shall be increased if a  municipality terminated the designation of an area in 1993 as a redevelopment  project area previously established under the Tax Increment Allocation Redevelopment   Act in the Illinois Municipal Code, previously established under  the Industrial Jobs Recovery Law in the Illinois Municipal Code, or previously  established under the Economic Development Area Tax Increment Allocation Act,  by an amount equal to the 1994 equalized assessed value of each taxable lot,  block, tract, or parcel of real property in the redevelopment project area over  and above the initial equalized assessed value of each property in the  redevelopment project area.  In the first year after a municipality  removes a taxable lot, block, tract, or parcel of real property from a  redevelopment project area established under the Tax Increment Allocation Redevelopment   Act in the Illinois  Municipal Code, the Industrial Jobs Recovery Law  in the Illinois Municipal Code, or the Economic  Development Area Tax Increment Allocation Act, "recovered tax increment value"  means the amount of the current year's equalized assessed value of each taxable  lot, block, tract, or parcel of real property removed from the redevelopment  project area over and above the initial equalized assessed value of that real  property before removal from the redevelopment project area.Except as otherwise provided in this Section, "limiting rate" means a  fraction the numerator of which is the last  preceding aggregate extension base times an amount equal to one plus the  extension limitation defined in this Section and the denominator of which  is the current year's equalized assessed value of all real property in the  territory under the jurisdiction of the taxing district during the prior  levy year.  For those taxing districts that reduced their aggregate  extension for the last preceding levy year, except for school districts that reduced their extension for educational purposes pursuant to Section 18-206, the highest aggregate extension  in any of the last 3 preceding levy years shall be used for the purpose of  computing the limiting rate.  The denominator shall not include new  property or the recovered tax increment  value.  If a new rate, a rate decrease, or a limiting rate increase has been approved at an election held after March 21, 2006, then (i) the otherwise applicable limiting rate shall be increased by the amount of the new rate or shall be reduced by the amount of the rate decrease, as the case may be, or (ii) in the case of a limiting rate increase, the limiting rate shall be equal to the rate set forth  in the proposition approved by the voters for each of the years specified in the proposition, after  which the limiting rate of the taxing district shall be calculated as otherwise provided. In the case of a taxing district that obtained referendum approval for an increased limiting rate on March 20, 2012, the limiting rate for tax year 2012 shall be the rate that generates the approximate total amount of taxes extendable for that tax year, as set forth in the proposition approved by the voters; this rate shall be the final rate applied by the county clerk for the aggregate of all capped funds of the district for tax year 2012.  (Source: P.A. 102-519, eff. 8-20-21.)(Text of Section from P.A. 102-558)Sec. 18-185. Short title; definitions.   This Division 5 may be cited as the  Property Tax Extension Limitation Law.  As used in this Division 5:"Consumer Price Index" means the Consumer Price Index for All Urban  Consumers for all items published by the United States Department of Labor."Extension limitation" means (a) the lesser of 5% or the percentage increase  in the Consumer Price Index during the 12-month calendar year preceding the  levy year or (b) the rate of increase approved by voters under Section 18-205."Affected county" means a county of 3,000,000 or more inhabitants or a  county contiguous to a county of 3,000,000 or more inhabitants."Taxing district" has the same meaning provided in Section 1-150, except as  otherwise provided in this Section.  For the 1991 through 1994 levy years only,  "taxing district" includes only each non-home rule taxing district having the  majority of its  1990 equalized assessed value within any county or counties contiguous to a  county with 3,000,000 or more inhabitants.  Beginning with the 1995 levy  year, "taxing district" includes only each non-home rule taxing district  subject to this Law before the 1995 levy year and each non-home rule  taxing district not subject to this Law before the 1995 levy year having the  majority of its 1994 equalized assessed value in an affected county or  counties.  Beginning with the levy year in  which this Law becomes applicable to a taxing district as  provided in Section 18-213, "taxing district" also includes those taxing  districts made subject to this Law as provided in Section 18-213."Aggregate extension" for taxing districts to which this Law applied before  the 1995 levy year means the annual corporate extension for the taxing  district and those special purpose extensions that are made annually for  the taxing district, excluding special purpose extensions: (a) made for the  taxing district to pay interest or principal on general obligation bonds  that were approved by referendum; (b) made for any taxing district to pay  interest or principal on general obligation bonds issued before October 1,  1991; (c) made for any taxing district to pay interest or principal on bonds  issued to refund or continue to refund those bonds issued before October 1,  1991; (d)  made for any taxing district to pay interest or principal on bonds  issued to refund or continue to refund bonds issued after October 1, 1991 that  were approved by referendum; (e)  made for any taxing district to pay interest  or principal on revenue bonds issued before October 1, 1991 for payment of  which a property tax levy or the full faith and credit of the unit of local  government is pledged; however, a tax for the payment of interest or principal  on those bonds shall be made only after the governing body of the unit of local  government finds that all other sources for payment are insufficient to make  those payments; (f) made for payments under a building commission lease when  the lease payments are for the retirement of bonds issued by the commission  before October 1, 1991, to pay for the building project; (g) made for payments  due under installment contracts entered into before October 1, 1991;  (h) made for payments of principal and interest on bonds issued under the  Metropolitan Water Reclamation District Act to finance construction projects  initiated before October 1, 1991; (i) made for payments of principal and  interest on limited bonds, as defined in Section 3 of the Local Government Debt  Reform Act, in an amount not to exceed the debt service extension base less  the amount in items (b), (c), (e), and (h) of this definition for  non-referendum obligations, except obligations initially issued pursuant to  referendum; (j) made for payments of principal and interest on bonds  issued under Section 15 of the Local Government Debt Reform Act; (k)  made  by a school district that participates in the Special Education District of  Lake County, created by special education joint agreement under Section  10-22.31 of the School Code, for payment of the school district's share of the  amounts required to be contributed by the Special Education District of Lake  County to the Illinois Municipal Retirement Fund under Article 7 of the  Illinois Pension Code; the amount of any extension under this item (k) shall be  certified by the school district to the county clerk; (l) made to fund  expenses of providing joint recreational programs for persons with disabilities under  Section 5-8 of  the  Park District Code or Section 11-95-14 of the Illinois Municipal Code; (m) made for temporary relocation loan repayment purposes pursuant to Sections 2-3.77 and 17-2.2d of the School Code;  (n) made for payment of principal and interest on any bonds issued under the authority of Section 17-2.2d of the School Code; (o) made for contributions to a firefighter's pension fund created under Article 4 of the Illinois Pension Code, to the extent of the amount certified under item (5) of Section 4-134 of the Illinois Pension Code; and (p) made for road purposes in the first year after a township assumes the rights, powers, duties, assets, property, liabilities, obligations, and  responsibilities of a road district abolished under the provisions of Section 6-133 of  the Illinois Highway Code."Aggregate extension" for the taxing districts to which this Law did not  apply before the 1995 levy year (except taxing districts subject to this Law  in  accordance with Section 18-213) means the annual corporate extension for the  taxing district and those special purpose extensions that are made annually for  the taxing district, excluding special purpose extensions: (a) made for the  taxing district to pay interest or principal on general obligation bonds that  were approved by referendum; (b) made for any taxing district to pay interest  or principal on general obligation bonds issued before March 1, 1995; (c) made  for any taxing district to pay interest or principal on bonds issued to refund  or continue to refund those bonds issued before March 1, 1995; (d) made for any  taxing district to pay interest or principal on bonds issued to refund or  continue to refund bonds issued after March 1, 1995 that were approved by  referendum; (e) made for any taxing district to pay interest or principal on  revenue bonds issued before March 1, 1995 for payment of which a property tax  levy or the full faith and credit of the unit of local government is pledged;  however, a tax for the payment of interest or principal on those bonds shall be  made only after the governing body of the unit of local government finds that  all other sources for payment are insufficient to make those payments; (f) made  for payments under a building commission lease when the lease payments are for  the retirement of bonds issued by the commission before March 1, 1995 to  pay for the building project; (g) made for payments due under installment  contracts entered into before March 1, 1995; (h) made for payments of  principal and interest on bonds issued under the Metropolitan Water Reclamation  District Act to finance construction projects initiated before October 1,  1991; (h-4) made for stormwater management purposes by the Metropolitan Water Reclamation District of Greater Chicago under Section 12 of the Metropolitan Water Reclamation District Act; (i) made for payments of principal and interest on limited bonds,  as defined in Section 3 of the Local Government Debt Reform Act, in an amount  not to exceed the debt service extension base less the amount in items (b),  (c), and (e) of this definition for non-referendum obligations, except  obligations initially issued pursuant to referendum and bonds described in  subsection (h) of this definition; (j) made for payments of  principal and interest on bonds issued under Section 15 of the Local Government  Debt Reform Act; (k) made for payments of principal and interest on bonds  authorized by Public Act 88-503 and issued under Section 20a of the Chicago  Park District Act for aquarium or  museum projects; (l) made for payments of principal and interest on  bonds  authorized by Public Act 87-1191 or 93-601 and (i) issued pursuant to Section 21.2 of the Cook County Forest  Preserve District Act, (ii) issued under Section 42 of the Cook County  Forest Preserve District Act for zoological park projects, or (iii) issued  under Section 44.1 of the Cook County Forest Preserve District Act for  botanical gardens projects; (m) made  pursuant  to Section 34-53.5 of the School Code, whether levied annually or not;  (n) made to fund expenses of providing joint recreational programs for persons with disabilities under Section 5-8 of the Park  District Code or Section 11-95-14 of the Illinois Municipal Code;   (o) made by the  Chicago Park  District for recreational programs for persons with disabilities under subsection (c) of  Section  7.06 of the Chicago Park District Act; (p) made for contributions to a firefighter's pension fund created under Article 4 of the Illinois Pension Code, to the extent of the amount certified under item (5) of Section 4-134 of the Illinois Pension Code; (q) made by Ford Heights School District 169 under Section 17-9.02 of the School Code; and (r) made for the purpose of making employer contributions to the Public School Teachers' Pension and Retirement Fund of Chicago under Section 34-53 of the School Code."Aggregate extension" for all taxing districts to which this Law applies in  accordance with Section 18-213, except for those taxing districts subject to  paragraph (2) of subsection (e) of Section 18-213, means the annual corporate  extension for the  taxing district and those special purpose extensions that are made annually for  the taxing district, excluding special purpose extensions: (a) made for the  taxing district to pay interest or principal on general obligation bonds that  were approved by referendum; (b) made for any taxing district to pay interest  or principal on general obligation bonds issued before the date on which the  referendum making this  Law applicable to the taxing district is held; (c) made  for any taxing district to pay interest or principal on bonds issued to refund  or continue to refund those bonds issued before the date on which the  referendum making this Law  applicable to the taxing district is held;  (d) made for any  taxing district to pay interest or principal on bonds issued to refund or  continue to refund bonds issued after the date on which the referendum making  this Law  applicable to the taxing district is held if the bonds were approved by  referendum after the date on which the referendum making this Law  applicable to the taxing district is held; (e) made for any  taxing district to pay interest or principal on  revenue bonds issued before the date on which the referendum making this Law  applicable to the  taxing district is held for payment of which a property tax  levy or the full faith and credit of the unit of local government is pledged;  however, a tax for the payment of interest or principal on those bonds shall be  made only after the governing body of the unit of local government finds that  all other sources for payment are insufficient to make those payments; (f) made  for payments under a building commission lease when the lease payments are for  the retirement of bonds issued by the commission before the date on which the  referendum making this  Law applicable to the taxing district is held to  pay for the building project; (g) made for payments due under installment  contracts entered into before the date on which the referendum making this Law  applicable to  the taxing district is held;  (h) made for payments  of principal and interest on limited bonds,  as defined in Section 3 of the Local Government Debt Reform Act, in an amount  not to exceed the debt service extension base less the amount in items (b),  (c), and (e) of this definition for non-referendum obligations, except  obligations initially issued pursuant to referendum; (i) made for payments  of  principal and interest on bonds issued under Section 15 of the Local Government  Debt Reform Act;  (j)  made for a qualified airport authority to pay interest or principal on  general obligation bonds issued for the purpose of paying obligations due  under, or financing airport facilities required to be acquired, constructed,  installed or equipped pursuant to, contracts entered into before March  1, 1996 (but not including any amendments to such a contract taking effect on  or after that date); (k) made to fund expenses of providing joint  recreational programs for persons with disabilities under Section 5-8 of  the  Park District Code or Section 11-95-14 of the Illinois Municipal Code; (l) made for contributions to a firefighter's pension fund created under Article 4 of the Illinois Pension Code, to the extent of the amount certified under item (5) of Section 4-134 of the Illinois Pension Code; and (m) made for the taxing district to pay interest or principal on general obligation bonds issued pursuant to Section 19-3.10 of the School Code."Aggregate extension" for all taxing districts to which this Law applies in  accordance with paragraph (2) of subsection (e) of Section 18-213 means the  annual corporate extension for the  taxing district and those special purpose extensions that are made annually for  the taxing district, excluding special purpose extensions: (a) made for the  taxing district to pay interest or principal on general obligation bonds that  were approved by referendum; (b) made for any taxing district to pay interest  or principal on general obligation bonds issued before March 7, 1997 (the effective date of Public Act 89-718);  (c) made  for any taxing district to pay interest or principal on bonds issued to refund  or continue to refund those bonds issued before March 7, 1997 (the effective date  of Public Act 89-718);  (d) made for any  taxing district to pay interest or principal on bonds issued to refund or  continue to refund bonds issued after March 7, 1997 (the effective date of Public Act 89-718) if the bonds were approved by referendum after March 7, 1997 (the effective date of Public Act 89-718);  (e) made for any  taxing district to pay interest or principal on  revenue bonds issued before March 7, 1997 (the effective date of Public Act 89-718)   for payment of which a property tax  levy or the full faith and credit of the unit of local government is pledged;  however, a tax for the payment of interest or principal on those bonds shall be  made only after the governing body of the unit of local government finds that  all other sources for payment are insufficient to make those payments; (f) made  for payments under a building commission lease when the lease payments are for  the retirement of bonds issued by the commission before March 7, 1997 (the effective date  of Public Act 89-718)   to  pay for the building project; (g) made for payments due under installment  contracts entered into before March 7, 1997 (the effective date of Public Act 89-718);  (h) made for payments  of principal and interest on limited bonds,  as defined in Section 3 of the Local Government Debt Reform Act, in an amount  not to exceed the debt service extension base less the amount in items (b),  (c), and (e) of this definition for non-referendum obligations, except  obligations initially issued pursuant to referendum; (i) made for payments  of  principal and interest on bonds issued under Section 15 of the Local Government  Debt Reform Act;  (j)  made for a qualified airport authority to pay interest or principal on  general obligation bonds issued for the purpose of paying obligations due  under, or financing airport facilities required to be acquired, constructed,  installed or equipped pursuant to, contracts entered into before March  1, 1996 (but not including any amendments to such a contract taking effect on  or after that date); (k) made to fund expenses of providing joint  recreational programs for persons with disabilities under Section 5-8 of  the  Park District Code or Section 11-95-14 of the Illinois Municipal Code; and (l) made for contributions to a firefighter's pension fund created under Article 4 of the Illinois Pension Code, to the extent of the amount certified under item (5) of Section 4-134 of the Illinois Pension Code."Debt service extension base" means an amount equal to that portion of the  extension for a taxing district for the 1994 levy year, or for those taxing  districts subject to this Law in accordance with Section 18-213, except for  those subject to paragraph (2) of subsection (e) of Section 18-213, for the  levy  year in which the referendum making this Law applicable to the taxing district  is held, or for those taxing districts subject to this Law in accordance with  paragraph (2) of subsection (e) of Section 18-213 for the 1996 levy year,  constituting an  extension for payment of principal and interest on bonds issued by the taxing  district without referendum,  but not including excluded non-referendum bonds.  For park districts (i) that were first  subject to this Law in 1991 or 1995 and (ii) whose extension for the 1994 levy  year for the payment of principal and interest on bonds issued by the park  district without referendum (but not including excluded non-referendum bonds)  was less than 51% of the amount for the 1991 levy year constituting an  extension for payment of principal and interest on bonds issued by the park  district without referendum (but not including excluded non-referendum bonds),  "debt service extension base" means an amount equal to that portion of the  extension for the 1991 levy year constituting an extension for payment of  principal and interest on bonds issued by the park district without referendum  (but not including excluded non-referendum bonds).  A debt service extension base established or increased at any time pursuant to any provision of this Law, except Section 18-212, shall be increased each year commencing with the later of (i) the 2009 levy year or (ii) the first levy year in which this Law becomes applicable to the taxing district, by the lesser of 5% or the percentage increase in the Consumer Price Index during the 12-month calendar year preceding the levy year. The debt service extension  base may be established or increased as provided under Section 18-212.  "Excluded non-referendum bonds" means (i) bonds authorized by Public  Act 88-503 and issued under Section 20a of the Chicago Park District Act for  aquarium and museum projects; (ii) bonds issued under Section 15 of the  Local Government Debt Reform Act; or (iii) refunding obligations issued  to refund or to continue to refund obligations initially issued pursuant to  referendum."Special purpose extensions" include, but are not limited to, extensions  for levies made on an annual basis for unemployment and workers'  compensation, self-insurance, contributions to pension plans, and extensions  made pursuant to Section 6-601 of the Illinois Highway Code for a road  district's permanent road fund whether levied annually or not.  The  extension for a special service area is not included in the  aggregate extension."Aggregate extension base" means the taxing district's last preceding  aggregate extension as adjusted under Sections 18-135, 18-215,   18-230, and 18-206.   An adjustment under Section 18-135 shall be made for the 2007 levy year and all subsequent levy years whenever one or more counties within which a taxing district is located (i) used estimated valuations or rates when extending taxes in the taxing district for the last preceding levy year that resulted in the over or under extension of taxes, or (ii) increased or decreased the tax extension for the last preceding levy year as required by Section 18-135(c). Whenever an adjustment is required under Section 18-135, the aggregate extension base of the taxing district shall be equal to the amount that the aggregate extension of the taxing district would have been for the last preceding levy year if either or both (i) actual, rather than estimated, valuations or rates had been used to calculate the extension of taxes for the last levy year, or (ii) the tax extension for the last preceding levy year had not been adjusted as required by subsection (c) of Section 18-135.Notwithstanding any other provision of law, for levy year 2012, the aggregate extension base for West Northfield School District No. 31 in Cook County shall be $12,654,592."Levy year" has the same meaning as "year" under Section  1-155."New property" means (i) the assessed value, after final board of review or  board of appeals action, of new improvements or additions to existing  improvements on any parcel of real property that increase the assessed value of  that real property during the levy year multiplied by the equalization factor  issued by the Department under Section 17-30, (ii) the assessed value, after  final board of review or board of appeals action, of real property not exempt  from real estate taxation, which real property was exempt from real estate  taxation for any portion of the immediately preceding levy year, multiplied by  the equalization factor issued by the Department under Section 17-30, including the assessed value, upon final stabilization of occupancy after new construction is complete, of any real property located within the boundaries of an otherwise or previously exempt military reservation that is intended for residential use and owned by or leased to a private corporation or other entity,  (iii) in counties that classify in accordance with Section 4 of Article  IX of the  Illinois Constitution, an incentive property's additional assessed value  resulting from a  scheduled increase in the level of assessment as applied to the first year  final board of  review market value, and (iv) any increase in assessed value due to oil or gas production from an oil or gas well required to be permitted under the Hydraulic Fracturing Regulatory Act that was not produced in or accounted for during the previous levy year.  In addition, the county clerk in a county containing a population of  3,000,000 or more shall include in the 1997  recovered tax increment value for any school district, any recovered tax  increment value that was applicable to the 1995 tax year calculations."Qualified airport authority" means an airport authority organized under  the Airport Authorities Act and located in a county bordering on the State of  Wisconsin and having a population in excess of 200,000 and not greater than  500,000."Recovered tax increment value" means, except as otherwise provided in this  paragraph, the amount of the current year's equalized assessed value, in the  first year after a municipality terminates  the designation of an area as a redevelopment project area previously  established under the Tax Increment Allocation Redevelopment Act in the Illinois  Municipal Code, previously established under the Industrial Jobs Recovery Law  in the Illinois Municipal Code, previously established under the Economic Development Project Area Tax Increment Act of 1995, or previously established under the Economic  Development Area Tax Increment Allocation Act, of each taxable lot, block,  tract, or parcel of real property in the redevelopment project area over and  above the initial equalized assessed value of each property in the  redevelopment project area.  For the taxes which are extended for the 1997 levy year, the recovered tax  increment value for a non-home rule taxing district that first became subject  to this Law for the 1995 levy year because a majority of its 1994 equalized  assessed value was in an affected county or counties shall be increased if a  municipality terminated the designation of an area in 1993 as a redevelopment  project area previously established under the Tax Increment Allocation Redevelopment   Act in the Illinois Municipal Code, previously established under  the Industrial Jobs Recovery Law in the Illinois Municipal Code, or previously  established under the Economic Development Area Tax Increment Allocation Act,  by an amount equal to the 1994 equalized assessed value of each taxable lot,  block, tract, or parcel of real property in the redevelopment project area over  and above the initial equalized assessed value of each property in the  redevelopment project area.  In the first year after a municipality  removes a taxable lot, block, tract, or parcel of real property from a  redevelopment project area established under the Tax Increment Allocation Redevelopment   Act in the Illinois  Municipal Code, the Industrial Jobs Recovery Law  in the Illinois Municipal Code, or the Economic  Development Area Tax Increment Allocation Act, "recovered tax increment value"  means the amount of the current year's equalized assessed value of each taxable  lot, block, tract, or parcel of real property removed from the redevelopment  project area over and above the initial equalized assessed value of that real  property before removal from the redevelopment project area.Except as otherwise provided in this Section, "limiting rate" means a  fraction the numerator of which is the last  preceding aggregate extension base times an amount equal to one plus the  extension limitation defined in this Section and the denominator of which  is the current year's equalized assessed value of all real property in the  territory under the jurisdiction of the taxing district during the prior  levy year.  For those taxing districts that reduced their aggregate  extension for the last preceding levy year, except for school districts that reduced their extension for educational purposes pursuant to Section 18-206, the highest aggregate extension  in any of the last 3 preceding levy years shall be used for the purpose of  computing the limiting rate.  The denominator shall not include new  property or the recovered tax increment  value.  If a new rate, a rate decrease, or a limiting rate increase has been approved at an election held after March 21, 2006, then (i) the otherwise applicable limiting rate shall be increased by the amount of the new rate or shall be reduced by the amount of the rate decrease, as the case may be, or (ii) in the case of a limiting rate increase, the limiting rate shall be equal to the rate set forth  in the proposition approved by the voters for each of the years specified in the proposition, after  which the limiting rate of the taxing district shall be calculated as otherwise provided. In the case of a taxing district that obtained referendum approval for an increased limiting rate on March 20, 2012, the limiting rate for tax year 2012 shall be the rate that generates the approximate total amount of taxes extendable for that tax year, as set forth in the proposition approved by the voters; this rate shall be the final rate applied by the county clerk for the aggregate of all capped funds of the district for tax year 2012.  (Source: P.A. 102-558, eff. 8-20-21.)