91st General Assembly
Status of HB0587
   [ Home ]   [ Back ]   [ Legislation ]
Legislation:  
Please enter a bill number.



 Full Text  Bill Summary
HOFFMAN-REITZ-FOWLER-FRANKS-FEIGENHOLTZ.

   15 ILCS 20/38.4 new                                                         
   30 ILCS 105/5.490 new                                                       
   30 ILCS 115/7 new                                                           
   35 ILCS 200/18-162 new                                                      
   35 ILCS 200/18-255                                                          
   35 ILCS 200/20-15                                                           
   35 ILCS 200/21-30                                                           

        Amends the State Finance Act and the State Revenue Sharing Act to      
   create the Property Tax Relief Fund as a special fund in the State          
   treasury.  Provides that the Governor shall include in each State           
   budget a transfer, and shall direct the transfer, as soon as practical      
   after July 1, 1999 and each July 1 thereafter, of an amount equal to        
   25% of the projected revenue growth in the  State's general funds, as       
   as  estimated  by  the Bureau of the Budget, into the Property Tax          
   Relief Fund. Provides that, beginning July 1, 2000 and each July 1          
   thereafter, the Governor shall also provide for deposit into  the Fund      
   previous fiscal year.  Provides  for  distribution  of  the  Fund,  as      
   determined  by  the Department of Revenue, to school districts subject      
   to the School Code.  Amends the  Property  Tax  Code  to  provide  for      
   abatement  of  a portion of real property taxes based on the amount of      
   funds distributed to the school district  in  which  the  property  is      
   located   from  the  Property  Tax  Relief  Fund.   Amends  the  Civil      
   Administrative Code of Illinois to provide  that  the  Governor  shall      
   include in each State budget a transfer, and shall direct the trans-        
   fer, as soon as practical after July 1, 1999 and each July 1 there-         
   after, of an  amount equal to 25% of the projected revenue growth in        
   the State's general fund into the Education Assistance Fund.                
   Effective July 1, 1999.                                                     
          HOUSING AFFORDABILITY NOTE (Housing Development Auth.)               
          The amount cannot be determined.                                     
   99-02-03  H  FIRST READING                                                  
   99-02-03  H  ADDED AS A JOINT SPONSOR                 REITZ                 
   99-02-03  H  REFERRED TO HOUSE RULES COMMITTEE        RULES                 
   99-02-10  H       ASSIGNED TO COMMITTEE               REVENUE               
   99-02-11  H  JOINT-SPONSOR CHANGED TO                 FOWLER                
   99-02-23  H  HOUSING AFORDABILITY IMPCT NOTE FILED                          
   99-02-23  H                   COMMITTEE               REVENUE               
   99-03-03  H  JOINT-SPONSOR CHANGED TO                 FRANKS                
   99-03-05  H  RE-REFERRED TO RULES COMM/RULE 19(A)     RULES         HRUL    
   99-04-22  H  ADDED AS A JOINT SPONSOR                 FEIGENHOLTZ           
   01-01-09  H  SESSION SINE DIE                                               

   END OF INQUIRY 



 Full Text  Bill Summary