|
|
|
|
93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004
HB4265
Introduced 1/29/2004, by Raymond Poe SYNOPSIS AS INTRODUCED:
|
|
|
|
Amends the School Code. Provides for tax equivalent grants to a district in which the State Capitol is located. Effective immediately.
|
|
|
|
|
|
| FISCAL NOTE ACT MAY APPLY | |
|
|
|
A BILL FOR
|
|
|
|
|
HB4265 |
|
LRB093 19465 NHT 45203 b |
|
|
| 1 |
| AN ACT concerning education.
|
| 2 |
| Be it enacted by the People of the State of Illinois,
|
| 3 |
| represented in the General Assembly:
|
| 4 |
| Section 5. The School Code is amended by adding Section |
| 5 |
| 18-4.6 as follows:
|
| 6 |
| (105 ILCS 5/18-4.6 new) |
| 7 |
| Sec. 18-4.6. Tax equivalent grants; State Capitol. When the |
| 8 |
| State Capitol is located in a school district, the State |
| 9 |
| Superintendent of Education shall annually direct the State |
| 10 |
| Comptroller to pay the amount of the tax-equivalent grant |
| 11 |
| provided in this Section, and the State Comptroller shall draw |
| 12 |
| his or her warrant upon the State Treasurer for the payment of |
| 13 |
| the grant. For fiscal year 2005 and each fiscal year |
| 14 |
| thereafter, the grant shall equal 0.5% of the equalized |
| 15 |
| assessed valuation of all land in the district owned by the |
| 16 |
| State (computing that equalized assessed valuation by |
| 17 |
| multiplying the average value per taxable acre of the school |
| 18 |
| district by the total number of acres of land owned by the |
| 19 |
| State). Annually on or before September 15, 2005 and July 1, |
| 20 |
| thereafter, the district superintendent shall certify to the |
| 21 |
| State Board of Education the following matters:
(1) that the |
| 22 |
| State Capitol is located within the district; (2) the total |
| 23 |
| land area of the district in acres; (3) the total ownership of |
| 24 |
| the land of the State in the district in
acres; (4) the total |
| 25 |
| equalized assessed value of all the
land in the district; (5) |
| 26 |
| the rate of school tax payable in the year; and (6) the |
| 27 |
| computed amount of the tax-equivalent grant
claimed.
Failure of |
| 28 |
| any district superintendent to certify the claim for the |
| 29 |
| tax-equivalent grant on or before September 15, 2005 or July 1 |
| 30 |
| of a subsequent year shall constitute a forfeiture by the |
| 31 |
| district of its right to the grant for the school year.
|
| 32 |
| Section 99. Effective date. This Act takes effect upon |