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| | SB1552 Engrossed | | LRB101 09644 HLH 54742 b |
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| 1 | | AN ACT concerning revenue.
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| 2 | | Be it enacted by the People of the State of Illinois,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The State Revenue Sharing Act is amended by |
| 5 | | adding Section 11.3 as follows:
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| 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 |