[ Search ] [ Legislation ]
[ Home ] [ Back ] [ Bottom ]
91_SB1060
SDS/910009/WBdo
1 AN ACT to amend the School Code by changing Section
2 18-4.4.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The School Code is amended by changing
6 Section 18-4.4 as follows:
7 (105 ILCS 5/18-4.4) (from Ch. 122, par. 18-4.4)
8 (Section scheduled to be repealed on July 1, 2001)
9 Sec. 18-4.4. Tax Equivalent Grants. When any State
10 institution is located in a school district in which the
11 State owns 45% or more of the total land area of the district
12 or when a United States military installation or base is
13 located in a school district with a population of less than
14 500,000, the State Superintendent of Education shall annually
15 direct the State Comptroller to pay the amount of the
16 tax-equivalent grants provided in this Section, and the State
17 Comptroller shall draw his warrant upon the State Treasurer
18 for the payment of the grants. For fiscal year 1995 through
19 fiscal year 2001 the grant shall equal 0.5% of the equalized
20 assessed valuation of the land owned by the State or United
21 States (computing that equalized assessed valuation by
22 multiplying the average value per taxable acre of the school
23 district by the total number of acres of land owned by the
24 State or United States). Annually on or before September 15,
25 1994 and July 1, thereafter, the district superintendent
26 shall certify to the State Board of Education the following
27 matters:
28 1. The name of the State institution or United
29 States military installation or base.
30 2. The total land area of the district in acres.
31 3. The total ownership of the land of the State or
-2- SDS/910009/WBdo
1 United States in acres.
2 4. The total equalized assessed value of all the
3 land in the district.
4 5. The rate of school tax payable in the year.
5 6. The computed amount of the tax-equivalent grant
6 claimed.
7 Failure of any district superintendent to certify the
8 claim for the tax-equivalent grant on or before September 15,
9 1994 or July 1 of a subsequent year shall constitute a
10 forfeiture by the district of its right to such grant for the
11 school year.
12 This Section is repealed July 1, 2001.
13 (Source: P.A. 88-555, eff. 7-27-94; 88-641, eff. 9-9-94;
14 89-235, eff. 8-4-95; 89-698, eff. 1-14-97.)