EDUCATION FUNDING House SponsorsRep. Arthur L. Turner 1/11/2005HouseSession Sine Die 30 ILCS 105/5.595 new30 ILCS 105/6z-59 new35 ILCS 5/203from Ch. 120, par. 2-20335 ILCS 200/18-178 new35 ILCS 200/18-25535 ILCS 200/20-1535 ILCS 200/21-30 Amends the State Finance Act. Creates the School District Property Tax Relief Fund as a new special fund in the State treasury. Requires the Department of Revenue, between November 15 and 17 of each year, to certify the amount of money in the Fund that is available for school district property relief grants, and provides procedures for the Department of Revenue to calculate the amount the grants. Amends the Illinois Income Tax Act. Provides for a deduction (up to $1,200) for income tax purposes, for 5 years, equal to 15% of rent paid annually for a taxpayer's principal residence. Amends the Property Tax Code. Provides a mechanism for property tax abatements for educational purposes. 2/27/2003HouseFiled with the Clerk by Rep. Arthur L. Turner 2/27/2003HouseFirst Reading 2/27/2003HouseReferred to Rules Committee 2/28/2003HouseAssigned to Revenue Committee 3/13/2003HouseRule 19(a) / Re-referred to Rules Committee 1/11/2005HouseSession Sine Die