101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
SB1552

 

Introduced 2/15/2019, by Sen. Jil Tracy

 

SYNOPSIS AS INTRODUCED:
 
30 ILCS 115/11.3 new

    Amends the State Revenue Sharing Act. Provides that each school district having Personal Property Tax Replacement Fund receipts totaling 13% or more of its total revenues in the previous fiscal year shall receive an additional amount equal to 11% of the total amount distributed to the school district from the Personal Property Tax Replacement Fund. Requires the State Board of Education to identify those school districts to the Department of Revenue. Provides that the total amount of additional distributions shall not exceed $4,353,136. Effective immediately.


LRB101 09644 HLH 54742 b

FISCAL NOTE ACT MAY APPLY

 

 

A BILL FOR

 

SB1552LRB101 09644 HLH 54742 b

1    AN ACT concerning revenue.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The State Revenue Sharing Act is amended by
5adding 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 of each year, beginning on July 1, 2019, or
9as soon as practical thereafter, the State Board of Education
10shall identify to the Department of Revenue school districts
11having Personal Property Tax Replacement Fund receipts
12totaling 13% or more of their total revenues in the previous
13fiscal year.
14    (b) Beginning in fiscal year 2020, any school district
15identified under subsection (a) shall receive, in addition to
16its annual distributions from the Personal Property Tax
17Replacement Fund, 11% of the total amount distributed to the
18school district from the Personal Property Tax Replacement Fund
19during the previous fiscal year, provided that the total amount
20of additional distributions under this Section shall not exceed
21$4,353,136. If the total additional distributions exceed
22$4,353,136, such distributions shall be calculated on a pro
23rata basis, based on the percentage of each district's total

 

 

SB1552- 2 -LRB101 09644 HLH 54742 b

1previous fiscal year revenues to the total previous fiscal year
2revenues of all districts qualifying for an additional
3distribution under this Section.
 
4    Section 99. Effective date. This Act takes effect upon
5becoming law.