100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018
Introduced , by Rep. Bill Mitchell
SYNOPSIS AS INTRODUCED:
Amends the State Revenue Sharing Act. Provides that, in fiscal year
2018, each school district having Personal Property Tax Replacement Fund
receipts totaling 13% or more of its total revenues in fiscal year 2016
shall receive an additional amount equal to 11% of the total amount
distributed to the school district from the Personal Property Tax
Replacement Fund during fiscal year 2016. 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.
|FISCAL NOTE ACT MAY APPLY|
A BILL FOR
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AN ACT concerning revenue.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
The State Revenue Sharing Act is amended by
adding Section 11.2 as follows:
(30 ILCS 115/11.2 new)
Funding of certain school districts; fiscal year
(a) On July 1, 2017, or as soon as practical thereafter,
the State Board of Education shall identify to the Department
of Revenue school districts having Personal Property Tax
Replacement Fund receipts totaling 13% or more of their total
revenues in fiscal year 2016.
(b) In fiscal year 2018, any school district identified
under subsection (a) shall receive, in addition to its annual
distributions from the Personal Property Tax Replacement Fund,
11% of the total amount distributed to the school district from
the Personal Property Tax Replacement Fund during fiscal year
2016, provided that the total amount of additional
distributions under this Section shall not exceed $4,353,136.
If the total additional distributions exceed $4,353,136, such
distributions shall be calculated on a pro rata basis, based on
the percentage of each district's total fiscal year 2016