Bill Text: IL SB1552 | 2019-2020 | 101st General Assembly | Engrossed
Bill Title: Reinserts the provisions of the introduced bill with the following changes: (1) provides that school districts having Personal Property Tax Replacement Fund receipts totaling 13% or more of their total revenues in fiscal year 2018 are entitled to the additional distribution (in the introduced bill, the eligibility of districts is determined each fiscal year); (2) provides that the additional distribution shall be made only in fiscal year 2020 and shall be 19% (in the introduced bill, 11%) of the total amount distributed to the school district from the Personal Property Tax Replacement Fund during fiscal year 2018; and (3) provides that the total amount of additional distributions shall not exceed $4,769,101 (in the introduced bill, $4,353,136). Effective immediately.
Spectrum: Bipartisan Bill
Status: (Failed) 2021-01-13 - Session Sine Die [SB1552 Detail]
Download: Illinois-2019-SB1552-Engrossed.html
| |||||||
| |||||||
| |||||||
| 1 | AN ACT concerning revenue.
| ||||||
| 2 | Be it enacted by the People of the State of Illinois,
| ||||||
| 3 | represented in the General Assembly:
| ||||||
| 4 | Section 5. The State Revenue Sharing Act is amended by | ||||||
| 5 | adding Section 11.3 as follows:
| ||||||
| 6 | (30 ILCS 115/11.3 new) | ||||||
| 7 | Sec. 11.3. Funding of certain school districts. | ||||||
| 8 | (a) On July 1, 2019, or as soon as practical thereafter, | ||||||
| 9 | the State Board of Education shall identify to the Department | ||||||
| 10 | of Revenue school districts having Personal Property Tax | ||||||
| 11 | Replacement Fund receipts in fiscal year 2018 totaling 13% or | ||||||
| 12 | more of their total revenues for fiscal year 2018. | ||||||
| 13 | (b) In fiscal year 2020, any school district identified | ||||||
| 14 | under subsection (a) shall receive, in addition to its annual | ||||||
| 15 | distributions from the Personal Property Tax Replacement Fund, | ||||||
| 16 | 19% of the total amount distributed to the school district from | ||||||
| 17 | the Personal Property Tax Replacement Fund during fiscal year | ||||||
| 18 | 2018, provided that the total amount of additional | ||||||
| 19 | distributions under this Section shall not exceed $4,769,101. | ||||||
| 20 | If the total additional distributions exceed $4,769,101, such | ||||||
| 21 | distributions shall be calculated on a pro rata basis, based on | ||||||
| 22 | the percentage of each district's total fiscal year 2018 | ||||||
| 23 | revenues to the total fiscal year 2018 revenues of all | ||||||
| |||||||
| |||||||
| 1 | districts qualifying for an additional distribution under this | ||||||
| 2 | Section.
| ||||||
| 3 | Section 99. Effective date. This Act takes effect upon | ||||||
| 4 | becoming law.
| ||||||
