91st General Assembly
Status of SB0139
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O'MALLEY-KARPIEL-BERMAN.

   105 ILCS 5/18-8.05                                                          

        Amends the  School  Code.   Provides  that  the  Available  Local      
   Resources  of a grant-eligible district, as a component of the formula      
   by which that district's general  State  aid  is  computed,  shall  be      
   determined  using  an  equalized  assessed valuation of the district's      
   taxable property that reflects the limitations placed by the  Property      
   Tax  Extension  Limitation  Law on the growth in district property tax      
   revenues.  Effective July 1, 1999.                                          
        SENATE AMENDMENT NO. 1.                                                
        Replaces provisions concerning the caculation of the Extension         
   Limitation Equalized Assessed Valuation of a school district. Provides      
   instead that, for the 1999-2000 school year, the Extension Limitation       
   Equalized Assessed Valuation of a school district shall be equal to         
   the product of the district's 1996 Equalized Assessed Valuation and         
   the district's Extension Limitation Ratio and, for the 2000-2001            
   school year and each school year thereafter, shall be equal to the          
   product of the last calculated Extension Limitation Equalized Assessed      
   Valuation and the district's Extension Limitation Ratio.                    
        SENATE AMENDMENT NO. 2.                                                
        Provides that the term "Preceding Tax Year's Tax Extension" means      
   the product of the equalized assessed valuation utilized by the County      
   Clerk in the Preceding Tax Year multiplied by the Operating  Tax  Rate      
   instead of the limiting rate.                                               
        SENATE AMENDMENT NO. 3.                                                
        Provides that for the purposes of calculating general  State  aid      
   for the 1999-2000 school year only, if a school district experienced a      
   triennial  reassessment  on  the  equalized assessed valuation used in      
   calculating its general State  financial  aid  apportionment  for  the      
   1998-1999  school  year,  the State Board of Education shall calculate      
   the Extension Limitation Equalized Assessed Valuation that would  have      
   been  used  to  calculate  the district's 1998-1999 general State aid.      
   Provides that this amount shall equal the  product  of  the  equalized      
   assessed  valuation  used  to  calculate  general  State  aid  for the      
   1997-1998 school year and the district's Extension  Limitation  Ratio.      
   Provides  the if the Extension Limitation Equalized Assessed Valuation      
   of the school district is less than the district's equalized  assessed      
   valuation  utilized  in  calculating  the district's 1998-1999 general      
   State aid allocation, then for purposes of calculating the  district's      
   general  State  aid  pursuant  to  these  provisions,  that  Extension      
   Limitation Equalized Assessed Valuation shall be utilized to calculate      
   the district's Available Local Resources.  Provides that the amount of      
   general  State  aid  allocated  to a school district for the 1999-2000      
   school year meeting the requirements  of  these  provisions  shall  be      
   increased  by an amount equal to the general State aid that would have      
   been received by  the  district  for  the  1998-1999  school  year  by      
   utilizing  the  Extension Limitation Equalized Assessed Valuation less      
   the  general  State  aid  allotted  for  the  1998-1999  school  year.      
   Provides that this amount shall be deemed  a  one  time  increase  and      
   shall not affect any future general State aid allocations.                  
   99-02-02  S  FIRST READING                                                  
   99-02-02  S  REFERRED TO SENATE RULES COMMITTEE       RULES                 
   99-02-03  S       ASSIGNED TO COMMITTEE               EDUCATION             
   99-02-25  S                                 POSTPONED                       
   99-02-26  S  SPONSOR REMOVED                          BERMAN                
   99-02-26  S  CHIEF SPONSOR CHANGED TO                 O'MALLEY              
   99-02-26  S  CHIEF CO-SPONSOR CHANGED TO              KARPIEL               
   99-02-26  S  ADDED AS A CHIEF CO-SPONSOR              BERMAN                
   99-03-03  S       TO SUBCOMMITTEE                                           
   99-03-03  S                             AMENDMENT NO. 01-EDUCATION     S    
   99-03-03  S                                   ADOPTED                       
   99-03-17  S                             AMENDMENT NO. 02-EDUCATION     S    
   99-03-17  S                                   ADOPTED                       
   99-03-17  S                             AMENDMENT NO. 03-EDUCATION     S    
   99-03-17  S                                   ADOPTED                       
   99-03-17  S       DO PASS AS AMENDED                  009-000-000   SESE    
   99-03-17  S  PLACED ON CALENDAR ORDER OF 2ND READING  99-03-18              
   99-03-24  S  SECOND READING                                                 
   99-03-24  S  PLACED ON CALENDAR ORDER OF 3RD READING  99-03-25              
   99-06-27  S  REFER TO RULES/PURSUANT SEN RULE 3-9 (B) RULES         SRUL    
   01-01-09  S  SESSION SINE DIE                                               

   END OF INQUIRY 



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