MCKEON-FEIGENHOLTZ-FRITCHEY. 30 ILCS 105/5.545 new 30 ILCS 115/7 new 35 ILCS 5/201 from Ch. 120, par. 2-201 35 ILCS 5/202.5 new 35 ILCS 5/203 from Ch. 120, par. 2-203 35 ILCS 5/804 from Ch. 120, par. 8-804 35 ILCS 5/901 from Ch. 120, par. 9-901 35 ILCS 200/18-162 new 35 ILCS 200/18-249 35 ILCS 200/18-255 35 ILCS 200/20-15 35 ILCS 200/21-30 105 ILCS 5/18-8.05 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 the newly created Education Property Tax Relief 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 School Code to make changes in provisions concerning the basis for apportionment of general State financial aid and supplemental general State aid. Effective July 1, 2001. MAR-02-2001 H FILED WITH CLERK MAR-05-2001 H FIRST READING MAR-05-2001 H REFERRED TO HOUSE RULES COMMITTEE RULES MAR-06-2001 H ASSIGNED TO COMMITTEE PROP TAX REFM MAR-07-2001 H ADDED AS A JOINT SPONSOR FEIGENHOLTZ MAR-16-2001 H RE-REFERRED TO RULES COMM/RULE 19(A) RULES HRUL MAR-20-2001 H ADDED AS A JOINT SPONSOR FRITCHEY JAN-07-2003 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary