CHICAGO -- New battles over capping property taxes broke out in the Illinois General Assembly this week as legislators promoted competing plans that would limit the ability of local governments to raise revenues and issue bonds.

On Tuesday, Rep. Manny Hoffman, R-Homewood, introduced legislation that would limit annual property tax collection increases by almost all the state's localities to 5% or the rate of inflation, whichever is less. The measure also would require voter approval for all new bond issues backed either directly or indirectly by local property taxes.

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