House Sponsors: CROTTY-MURPHY-JONES,JOHN-ACEVEDO-FANTIN, MCCARTHY, BERGMAN, ZICKUS, YOUNGE, GIGLIO, SCULLY, MITCHELL, REITZ, HOLBROOK, ACKERMAN, SKINNER, MAUTINO, JOHNSON,TIM, KOSEL, KUBIK, LYONS,EILEEN, DURKIN, WIRSING, BLACK, RYDER AND GILES. Senate Sponsors: O'MALLEY-HALVORSON Short description: SCHOOLS AID FORMULA CHANGES Synopsis of Bill as introduced: Amends the School Code. Revises the State aid formula applicable during the 1998-99 and subsequent school years. Changes the manner of computing the Available Local Resources for school districts maintaining grades 9 through 12 and the manner of adjusting the equalized assessed valuation of the taxable property of those districts because of enterprise zone and other tax abatements by reducing a component of the formulas used to make those computations and adjustments to 1.10% from 1.20%. Also changes the manner of determining the Low Income Concentration Level of school districts of less than 500,000 inhabitants for the 1999-2000 and 2000-2001 school years. Deletes language requiring that if the aggregate amount of any hold-harmless payments that school districts are to receive in any such school year, as computed under the applicable formula for that school year, is greater than the aggregate amount appropriated for that purpose, the hold-harmless payments that school districts receive for that school year are to be prorated accordingly. Also amends the General State Aid Continuing Appropriation Law. Changes the Law's short title and includes hold-harmless payments required to be made to school districts under the State aid formula within the ambit of that Law's application. Effective immediately, except the amendment of the School Code takes effect July 1, 1998. FISCAL NOTE (State Board of Education) General State Aid cost would increase by approximately $16.7 M; FY98 full funding would go down $13.6 M. Additional funding needed would be $3.1 M. STATE MANDATES FISCAL NOTE (State Board of Education) No change from SBE fiscal note. Last action on Bill: SESSION SINE DIE Last action date: 99-01-12 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status