To change a cap on the amount of debt a village may incur. Under current law there is a debt cap that is based on the assessed value of all real and personal property in the community. The bill would have the effect of letting villages borrow more by adding the assessed value of business tools and equipment that were previously subject to local property taxes but were exempted by a 2014 law.
| 106 Yeas / 3 Nays | |
|---|---|
