92nd General Assembly
Summary of HB0449
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House Sponsors:
HANNIG-CURRY,JULIE-FRANKS-CROTTY-HAMOS, FOWLER, FORBY, 
   FRITCHEY, SMITH,MICHAEL, HOFFMAN, NOVAK, GILES AND TURNER,ART.

Senate Sponsors:
PETKA-RADOGNO

Short description: 
SCH CD-ST AID-LOCAL RESOURCES                                              

Synopsis of Bill as introduced:
        Amends the School Code.  In the  State  aid  formula  provisions,      
   changes  a component used to calculate local property tax revenues per      
   pupil for school districts maintaining grades kindergarten through  12      
   (from  3.00%  to  2.95%)  and  for school districts maintaining grades      
   kindergarten through 8 (from 2.30% to  2.25%).   Changes  a  component      
   used  to  adjust  the real property equalized assessed valuation for a      
   school district maintaining grades kindergarten through 12 (from 3.00%      
   to 2.95%) and for a school district  maintaining  grades  kindergarten      
   through 8 (from 2.30% to 2.25%).  Effective July 1, 2001.                   
          FISCAL NOTE (State Board of Education)                               
          If this legislation were applied to FY01, GSA would increase         
          by $56.6 Million and Hold Harmless would decrease $9.1 Million       
          for  a net increase of $47.5 Million. Chicago #299 would have        
          received an additional $16.4 Million.                                
          STATE MANDATES NOTE (State Board of Education)                       
          Same as previous fiscal note.                                        
 
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: House

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


   END OF INQUIRY 



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