100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018
SB2260

 

Introduced 11/1/2017, by Sen. Jil Tracy

 

SYNOPSIS AS INTRODUCED:
 
30 ILCS 115/11.2 new

    Amends the State Revenue Sharing Act. Provides that, in fiscal year 2018, each school district having Personal Property Tax Replacement Fund receipts totaling 13% or more of its total revenues in fiscal year 2016 shall receive an additional amount equal to 11% of the total amount distributed to the school district from the Personal Property Tax Replacement Fund during fiscal year 2016. Requires the State Board of Education to identify those school districts to the Department of Revenue. Provides that the total amount of additional distributions shall not exceed $4,353,136. Effective immediately.


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FISCAL NOTE ACT MAY APPLY

 

 

A BILL FOR

 

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1    AN ACT concerning revenue.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The State Revenue Sharing Act is amended by
5adding Section 11.2 as follows:
 
6    (30 ILCS 115/11.2 new)
7    Sec. 11.2. Funding of certain school districts; fiscal year
82018.
9    (a) On July 1, 2017, or as soon as practical thereafter,
10the State Board of Education shall identify to the Department
11of Revenue school districts having Personal Property Tax
12Replacement Fund receipts totaling 13% or more of their total
13revenues in fiscal year 2016.
14    (b) In fiscal year 2018, any school district identified
15under subsection (a) shall receive, in addition to its annual
16distributions from the Personal Property Tax Replacement Fund,
1711% of the total amount distributed to the school district from
18the Personal Property Tax Replacement Fund during fiscal year
192016, provided that the total amount of additional
20distributions under this Section shall not exceed $4,353,136.
21If the total additional distributions exceed $4,353,136, such
22distributions shall be calculated on a pro rata basis, based on
23the percentage of each district's total fiscal year 2016

 

 

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1revenues to the total fiscal year 2016 revenues of all
2districts qualifying for an additional distribution under this
3Section.
 
4    Section 99. Effective date. This Act takes effect upon
5becoming law.