GIGLIO, KENNER, STROGER, O'BRIEN, CURRY,JULIE, NOVAK,
LYONS,EILEEN, OSMOND, MCGUIRE, LINDNER,
FEIGENHOLTZ, ERWIN, MOORE,ANDREA, KRAUSE, JOHNSON,TOM,
MULLIGAN, BASSI, DELGADO, FOWLER, GARRETT, GILES, HOEFT,
SMITH,MICHAEL, WINKEL, MITCHELL,JERRY, BRADLEY, BUGIELSKI,
ACEVEDO, TURNER,ART, SCOTT, FLOWERS, SHARP, PUGH,
DART, LANG, FRITCHEY, COULSON, HOWARD, HARRIS, FRANKS,
BURKE, CAPPARELLI, SKINNER, GASH, ZICKUS AND DURKIN.
SCH CD-ST AID-LOCAL RESOURCES
Synopsis of Bill as introduced:
Amends the School Code. Provides that the Available Local
Resources of a grant-eligible district, as a component of the formula
by which that district's general State aid is computed, shall be
determined using an equalized assessed valuation of the district's
taxable property that reflects the limitations placed by the Property
Tax Extension Limitation Law on the growth in district property tax
revenues. Effective July 1, 1999.
HOUSE AMENDMENT NO. 1.
Replaces provisions concerning the calculation of the Extension
Limitation Equalized Assessed Valuation of a school district.
Provides instead that, for the 1999-2000 school year, the Extension
Limitation Equalized Assessed Valuation of a school district shall be
equal to the product of the district's 1996 Equalized Assessed
Valuation and the district's Extension Limitation Ratio and, for the
2000-2001 school year and each school year thereafter, shall be equal
to the product of the last calculated Extension Limitation Equalized
Assessed Valuation and the district's Extension Limitation Ratio.
FISCAL NOTE (State Board of Education)
Increased cost for General State Aid would be in excess of
$60 million in FY2000.
STATE MANDATES NOTE (State Board of Education)
Same as SBE fiscal note.
SENATE AMENDMENT NO. 1.
Provides that the term "Preceding Tax Year's Tax Extension" means
the product of the equalized assessed valuation utilized by the County
Clerk in the Preceding Tax Year multiplied by the Operating Tax Rate
instead of the limiting rate. Provides that for the purposes of
calculating general State aid for the 1999-2000 school year only, if a
school district experienced a triennial reassessment on the equalized
assessed valuation used in calculating its general State financial aid
apportionment for the 1998-1999 school year, the State Board of
Education shall calculate the Extension Limitation Equalized Assessed
Valuation that would have been used to calculate the district's
1998-1999 general State aid. Provides that this amount shall equal
the product of the equalized assessed valuation used to calculate
general State aid for the 1997-1998 school year and the district's
Extension Limitation Ratio. Provides that if the Extension Limitation
Equalized Assessed Valuation of the school district is less than the
district's equalized assessed valuation utilized in calculating the
district's 1998-1999 general State aid allocation, then for purposes
of calculating the district's general State aid pursuant to these
provisions, that Extension Limitation Equalized Assessed Valuation
shall be utilized to calculate the district's Available Local
Resources. Provides that the amount of general State aid allocated to
a school district for the 1999-2000 school year meeting the
requirements of these provisions shall be increased by an amount equal
to the general State aid that would have been received by the district
for the 1998-1999 school year by utilizing the Extension Limitation
Equalized Assessed Valuation less the general State aid allotted for
the 1998-1999 school year. Provides that this amount shall be deemed
a one time increase and shall not affect any future general State aid
CONFERENCE COMMITTEE REPORT NO. 1.
Recommends that the House concur in S-am 1.
Recommends that the bill be further amended as follows:
Increases the amount of general State aid allocated to a school
district having a majority of its equalized assessed valuation in any
county except Cook, DuPage, Kane, Lake, McHenry, or Will for the
1999-2000 school year if certain conditions are met.
Last action on Bill: PUBLIC ACT.............................. 91-0111
Last action date: 99-07-14
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 1
END OF INQUIRY
Full Text Bill Status