(105 ILCS 5/2-3.84) (from Ch. 122, par. 2-3.84)
Sec. 2-3.84. In calculating the amount of State aid to be apportioned
to the various school districts in this State, the State Board of Education
shall incorporate and deduct the total aggregate adjustments to assessments
made by
the State Property Tax Appeal Board or Cook County Board of Appeals, as
reported pursuant to Section 16-15 of the Property Tax Code or Section
129.1 of the Revenue Act of 1939 by the Department of Revenue, from the
equalized assessed valuation that is otherwise to be utilized in
the initial calculation.
From the total amount of general State aid or evidence-based funding to be provided to
districts, adjustments under this Section together with adjustments as a
result of recomputation under Section 2-3.33 must not exceed $25
million, in the aggregate for all districts under both Sections combined,
of the general State aid or evidence-based funding appropriation in any fiscal year; if necessary,
amounts shall be prorated among districts. If it is necessary to prorate
claims under this paragraph, then that portion of each prorated claim that is
approved but not paid in the current fiscal year may be resubmitted as a
valid claim in the following fiscal year.
(Source: P.A. 100-465, eff. 8-31-17.)
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