(30 ILCS 115/11.2) Sec. 11.2. Funding of certain school districts; fiscal year 2019. (a) On July 1, 2018, 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 2017. (b) In fiscal year 2019, any school district identified under subsection (a) shall receive, in addition to its annual distributions from the Personal Property Tax Replacement Fund, 16% of the total amount distributed to the school district from the Personal Property Tax Replacement Fund during fiscal year 2017, provided that the total amount of additional distributions under this Section shall not exceed $4,300,000. If the total additional distributions exceed $4,300,000, such distributions shall be calculated on a pro rata basis, based on the percentage of each district's total fiscal year 2017 revenues to the total fiscal year 2017 revenues of all districts qualifying for an additional distribution under this Section.
(Source: P.A. 100-587, eff. 6-4-18.) |