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| | SB1880 Engrossed | | LRB098 09247 NHT 39386 b |
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1 | | AN ACT concerning education.
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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 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, subject to appropriation, |
10 | | annually direct the State Comptroller to pay the amount of the |
11 | | tax-equivalent grant provided in this Section, and the State |
12 | | Comptroller shall draw his or her warrant upon the State |
13 | | Treasurer for the payment of the grant. For fiscal year 2014 |
14 | | and each fiscal year thereafter, the grant shall equal 0.5% of |
15 | | the equalized assessed valuation of all land in the district |
16 | | owned by the State (computing that equalized assessed valuation |
17 | | by 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, 2014 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 |