Illinois General Assembly - Full Text of SB2260
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Full Text of SB2260  100th General Assembly




SB2260 EngrossedLRB100 15361 AXK 30334 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 11.2 as follows:
6    (30 ILCS 115/11.2 new)
7    Sec. 11.2. Funding of certain school districts; fiscal year
9    (a) On July 1, 2017, or as soon as practical thereafter,
10the State Board of Education shall identify to the Department
11of Revenue school districts having Personal Property Tax
12Replacement Fund receipts totaling 13% or more of their total
13revenues in fiscal year 2016.
14    (b) In fiscal year 2018, any school district identified
15under subsection (a) shall receive, in addition to its annual
16distributions from the Personal Property Tax Replacement Fund,
1711% of the total amount distributed to the school district from
18the Personal Property Tax Replacement Fund during fiscal year
192016, provided that the total amount of additional
20distributions under this Section shall not exceed $4,353,136.
21If the total additional distributions exceed $4,353,136, such
22distributions shall be calculated on a pro rata basis, based on
23the percentage of each district's total fiscal year 2016



SB2260 Engrossed- 2 -LRB100 15361 AXK 30334 b

1revenues to the total fiscal year 2016 revenues of all
2districts qualifying for an additional distribution under this
4    Section 99. Effective date. This Act takes effect upon
5becoming law.