92nd General Assembly
Summary of HB1712
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House Sponsors:
MYERS,RICHARD-MITCHELL,JERRY-HOEFT AND FRANKS.

Senate Sponsors:
PETERSON-CRONIN-LINK-KLEMM-KARPIEL

Short description: 
SCH CD-AID-EXTENSION LIMIT EAV                                             

Synopsis of Bill as introduced:
        Amends the School Code.  In the  State  aid  formula  provisions,      
   requires  the  State  Board  of  Education  to calculate the Extension      
   Limitation  Equalized  Assessed  Valuation  of  all  school  districts      
   subject to property tax extension limitations  as  imposed  under  the      
   Property  Tax  Extension Limitation Law (not just those districts that      
   meet certain other criteria).  Provides that the Extension  Limitation      
   Equalized  Assessed  Valuation  shall  be  equal to the product of the      
   Equalized Assessed Valuation last used in the calculation  of  general      
   State  aid  (instead  of  the  last  calculated  Extension  Limitation      
   Equalized  Assessed Valuation) and the district's Extension Limitation      
   Ratio.  Effective immediately.                                              
 
Last action on Bill: PUBLIC ACT.............................. 92-0269

   Last action date: AUG-07-2001

           Location: House

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


   END OF INQUIRY 



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