|SB2260 Engrossed||LRB100 15361 AXK 30334 b|
AN ACT concerning revenue.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
The State Revenue Sharing Act is amended by
adding Section 11.2 as follows:
(30 ILCS 115/11.2 new)
Funding of certain school districts; fiscal year
(a) On July 1, 2017, or as soon as practical thereafter,
the State Board of Education shall identify to the Department
of Revenue school districts having Personal Property Tax
Replacement Fund receipts totaling 13% or more of their total
revenues in fiscal year 2016.
(b) In fiscal year 2018, any school district identified
under subsection (a) shall receive, in addition to its annual
distributions from the Personal Property Tax Replacement Fund,
11% of the total amount distributed to the school district from
the Personal Property Tax Replacement Fund during fiscal year
2016, provided that the total amount of additional
distributions under this Section shall not exceed $4,353,136.
If the total additional distributions exceed $4,353,136, such
distributions shall be calculated on a pro rata basis, based on
the percentage of each district's total fiscal year 2016