|SB1552 Engrossed||LRB101 09644 HLH 54742 b|
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 11.3 as follows:
(30 ILCS 115/11.3 new)
Funding of certain school districts.
(a) On July 1, 2019, 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 in fiscal year 2018 totaling 13% or
more of their total revenues for fiscal year 2018.
(b) In fiscal year 2020, any school district identified
under subsection (a) shall receive, in addition to its annual
distributions from the Personal Property Tax Replacement Fund,
19% of the total amount distributed to the school district from
the Personal Property Tax Replacement Fund during fiscal year
2018, provided that the total amount of additional
distributions under this Section shall not exceed $4,769,101.
If the total additional distributions exceed $4,769,101, such
distributions shall be calculated on a pro rata basis, based on
the percentage of each district's total fiscal year 2018
revenues to the total fiscal year 2018 revenues of all