90th General Assembly
Summary of SB0310
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Short description: 
SCHOOL FINANCE-PROP TAX LEVY                                               

Synopsis of Bill as introduced:
        Amends the Property Tax Extension Limitation Law in the  Property      
   Tax  Code  and  the  School  Code.    Excepts  from application of the      
   Property Tax Extension Limitation Law certain school  districts  whose      
   operating  tax  rate  levies  are  below the level required to receive      
   State aid under the formula generally applied in computing  State  aid      
   for other school districts.  Provides for approval of a proposition to      
   create  a  community  unit  school district by the favorable vote of a      
   majority of the electors voting upon the proposition (instead of by  a      
   majority  of  the voters in each of the affected districts) if each of      
   the districts affected has a student enrollment of  less  than  1,000.      
   Provides for staggered increases over a 5 year period in the statutory      
   maximum  rates  at  which unit and elementary districts may levy taxes      
   for educational and  for  operations  and  maintenance  purposes;  but      
   reduces  the educational tax rates of districts that immediately prior      
   to the effective date of the amendatory Act  are  authorized  to  levy      
   above  maximum  reduced  educational purposes tax rate levels that are      
   established  under  the  amendatory  Act  and  reduces  by  0.06%  the      
   educational  purposes  tax  rate  of  the  Chicago  school   district.      
   Authorizes unit districts to levy up to .10% and other districts up to      
   .05%  for  capital  improvements  purposes  and  to accumulate the tax      
   proceeds without referendum.  Increases the  transportation  tax  rate      
   and  life  safety  tax  rate  for  unit school districts. Provides for      
   supplementary  State  aid   to   school   districts   that,   due   to      
   consolidation,  eliminate  at  least  one high school of less than 500      
   students and must construct a new high school with  an  enrollment  of      
   more  than  500  students.  Provides for supplemental grants to school      
   districts that suffer from the reduced rate limitations applicable  to      
   their  educational  purposes tax levies.  Repeals back door referendum      
   provisions applicable to downstate school  districts.   Increases  the      
   working   cash  fund  tax  rate  maximum  applicable  to  unit  school      
   districts.  Makes substantial revisions to the State  aid  formula  in      
   order  to guarantee a per pupil foundation level deemed adequate under      
   the methodology developed by the State Board of Education.   Effective      
   July 1, 1997.                                                               
Last action on Bill: SESSION SINE DIE

   Last action date: 99-01-12

           Location: Senate

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


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