HOFFMAN-REITZ-FOWLER-FRANKS-FEIGENHOLTZ. 15 ILCS 20/38.4 new 30 ILCS 105/5.490 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 as a special fund in the State treasury. Provides that the Governor shall include in each State budget a transfer, and shall direct the transfer, as soon as practical after July 1, 1999 and each July 1 thereafter, of an amount equal to 25% of the projected revenue growth in the State's general funds, as as estimated by the Bureau of the Budget, into the Property Tax Relief Fund. Provides that, beginning July 1, 2000 and each July 1 thereafter, the Governor shall also provide for deposit into the Fund 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 trans- fer, as soon as practical after July 1, 1999 and each July 1 there- after, of an amount equal to 25% of the projected revenue growth in the State's general fund into the Education Assistance Fund. Effective July 1, 1999. HOUSING AFFORDABILITY NOTE (Housing Development Auth.) The amount cannot be determined. 99-02-03 H FIRST READING 99-02-03 H ADDED AS A JOINT SPONSOR REITZ 99-02-03 H REFERRED TO HOUSE RULES COMMITTEE RULES 99-02-10 H ASSIGNED TO COMMITTEE REVENUE 99-02-11 H JOINT-SPONSOR CHANGED TO FOWLER 99-02-23 H HOUSING AFORDABILITY IMPCT NOTE FILED 99-02-23 H COMMITTEE REVENUE 99-03-03 H JOINT-SPONSOR CHANGED TO FRANKS 99-03-05 H RE-REFERRED TO RULES COMM/RULE 19(A) RULES HRUL 99-04-22 H ADDED AS A JOINT SPONSOR FEIGENHOLTZ 01-01-09 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary