SB1552 EngrossedLRB101 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, 2019, or as soon as practical thereafter,
9the State Board of Education shall identify to the Department
10of Revenue school districts having Personal Property Tax
11Replacement Fund receipts in fiscal year 2018 totaling 13% or
12more of their total revenues for fiscal year 2018.
13    (b) In fiscal year 2020, any school district identified
14under subsection (a) shall receive, in addition to its annual
15distributions from the Personal Property Tax Replacement Fund,
1619% of the total amount distributed to the school district from
17the Personal Property Tax Replacement Fund during fiscal year
182018, provided that the total amount of additional
19distributions under this Section shall not exceed $4,769,101.
20If the total additional distributions exceed $4,769,101, such
21distributions shall be calculated on a pro rata basis, based on
22the percentage of each district's total fiscal year 2018
23revenues to the total fiscal year 2018 revenues of all



SB1552 Engrossed- 2 -LRB101 09644 HLH 54742 b

1districts qualifying for an additional distribution under this
3    Section 99. Effective date. This Act takes effect upon
4becoming law.