House Sponsors: JOHNSON,TIM. Short description: EDUCATION-INC TX-PROP TX-PEN Synopsis of Bill as introduced: Amends numerous Acts in relation to public education and taxation. Amends the Illinois Income Tax Act to raise the income tax rate to 3.75% for individuals, trusts, and estates. Provides for deposit of portions of the proceeds into the Common School Fund and 2 newly created Funds: the Education Property Tax Relief Fund and the School Capital and Technology Infrastructure Fund. Also creates a deduction for rent paid by a taxpayer on his or her principal residence. Amends the Property Tax Code and the State Revenue Sharing Act to provide for abatement of a portion of real property taxes. Amends the Illinois Pension Code. Provides that the State shall take over the Chicago Board of Education's obligation to pay the employer's share of pension contributions for Chicago teachers. Also amends the State Pension Funds Continuing Appropriation Act to guarantee the timely payment of these obligations. Amends the School Code. Creates a School Capital and Technology Infrastructure Program. Makes changes in provisions concerning the basis for apportionment of general State financial aid and supplemental general State aid. Creates a new system of administrator certification and a Professional Teacher Standards Board and School Administrator Standards Board. Amends and adds provisions in relation to block grants, school nurses, chief school business officials, teacher certification, State transportation reinbursement, and teacher tenure. Also makes technical corrections. Effective July 1, 1999. PENSION NOTE (Pension Laws Commission) The fiscal impact of HB 2737 has not been determined, but could be substantial. The State would be required to make an annual contribution to the Fund beginning in FY2001. Last action on Bill: SESSION SINE DIE Last action date: 01-01-09 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status