Rep. Thaddeus Jones

Filed: 4/21/2017

 

 


 

 


 
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1
AMENDMENT TO HOUSE BILL 3052

2    AMENDMENT NO. ______. Amend House Bill 3052 by replacing
3everything after the enacting clause with the following:
 
4    "Section 5. The School Code is amended by adding Section
519-1.2 as follows:
 
6    (105 ILCS 5/19-1.2 new)
7    Sec. 19-1.2. Limiting tax rate for multiple school district
8municipalities.
9    (a) As used in this Section:
10    "Limiting tax rate" is an elementary school district's
11maximum aggregate extension under the Property Tax Extension
12Limitation Law.
13    "Major district" means an elementary school district whose
14boundaries are wholly or partially within a multiple school
15district municipality and in which the percentage of its
16equalized assessed value within the multiple school district

 

 

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1municipality is at least 70% of its entire equalized assessed
2value.
3    "Minor district" means an elementary school district whose
4boundaries are wholly or partially within a multiple school
5district municipality and in which (i) the percentage of its
6equalized assessed value within the multiple school district
7municipality is at least 30% of its entire equalized assessed
8value and (ii) the school district has exceeded its debt
9limitation provided for by referendum in accordance with
10Section 19-1 of this Code by at least 400% or the school
11district's limiting tax rate exceeds the limiting tax rate of
12the major district in a multiple school district municipality
13by at least 200%.
14    "Multiple school district municipality" means a
15municipality that contains parts of at least 4 elementary
16school districts within its corporate boundaries.
17    (b) A minor district shall not have an annual tax rate, for
18properties located within the corporate limits of a multiple
19school district municipality, that exceeds the sum of its debt
20rate and the major district's limiting tax rate.
21    (c) A minor district is prohibited from borrowing any
22additional funds, including the refunding of debt, in excess of
23400% of the debt limitation provided by Section 19-1 of this
24Code. Notwithstanding the preceding sentence, a minor district
25that has exceeded 400% of the debt limitation provided by
26Section 19-1 of this Code as of the effective date of this

 

 

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1amendatory Act of the 100th General Assembly shall be
2prohibited from borrowing any additional funds.
3    (d) For tax levy year 2017, a minor district is prohibited
4from extending a tax rate, for properties located within the
5corporate limits of a multiple school district municipality,
6that exceeds the total of the minor district's debt rate and
7175% of the total of the major district's limiting tax rate.
8    (e) For tax levy year 2018, a minor district is prohibited
9from extending a tax rate, for properties located within the
10corporate limits of a multiple school district municipality,
11that exceeds the total of the minor district's debt rate and
12150% of the total of the major district's limiting tax rate.
13    (f) For all tax levy years after 2018, a minor district is
14prohibited from extending a tax rate, for properties located
15within the corporate limits of a multiple school district
16municipality, that exceeds the total of the minor district's
17debt rate and the major district's limiting tax rate.
 
18    Section 99. Effective date. This Act takes effect upon
19becoming law.".