90th General Assembly
Status of HB3117
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HOFFMAN, O'BRIEN, REITZ, CURRY,JULIE, HOLBROOK AND DAVIS,STEVE.

   15 ILCS 20/38.4 new                                                         
   30 ILCS 105/5.480 new                                                       
   30 ILCS 115/7 new                                                           
   35 ILCS 200/18-162 new                                                      
   35 ILCS 200/18-255                                                          
   35 ILCS 200/20-15                                                           
   35 ILCS 200/21-30                                                           

        Amends the State Finance Act and the State Revenue Sharing Act to      
   create the Property Tax Relief Fund.  Provides that the Governor shall      
   include in each State budget a transfer, and shall direct the transfer      
   of, as soon as practical after July 1, 1998 and each July 1 thereafter      
   an amount equal to 25% of the projected revenue growth in the  State's      
   general  funds,  as  estimated  by  the Bureau of the Budget, into the      
   Property Tax  Relief  Fund,  a  special  fund  created  in  the  State      
   treasury.    Provides  that  beginning  July  1,  1999 and each July 1      
   thereafter the Governor shall also provide for deposit into  the  Fund      
   of  an  amount  equal  to  the  amount  deposited into the Fund in the      
   previous fiscal year.  Provides  for  distribution  of  the  Fund,  as      
   determined  by  the Department of Revenue, to school districts subject      
   to the School Code.  Amends the  Property  Tax  Code  to  provide  for      
   abatement  of  a portion of real property taxes based on the amount of      
   funds distributed to the school district  in  which  the  property  is      
   located   from  the  Property  Tax  Relief  Fund.   Amends  the  Civil      
   Administrative Code of Illinois to provide  that  the  Governor  shall      
   include in each State budget a transfer, and shall direct the transfer      
   of, as soon as practical after July 1, 1998 and each July 1 thereafter      
   an  amount equal to 25% of the projected revenue growth in the State's      
   general fund into the Education Assistance Fund.   Effective  July  1,      
   1998.                                                                       
   98-02-10  H  FILED WITH CLERK                                               
   98-02-10  H  FIRST READING                                                  
   98-02-10  H  REFERRED TO HOUSE RULES COMMITTEE        RULES                 
   98-02-18  H  ADDED AS A CO-SPONSOR                    O'BRIEN               
   98-02-18  H  ADDED AS A CO-SPONSOR                    REITZ                 
   98-02-18  H  ADDED AS A CO-SPONSOR                    CURRY,JULIE           
   98-02-18  H  ADDED AS A CO-SPONSOR                    HOLBROOK              
   98-02-18  H  ADDED AS A CO-SPONSOR                    DAVIS,STEVE           
   99-01-12  H  SESSION SINE DIE                                               

   END OF INQUIRY 



 Full Text  Bill Summary