SCHOOL DIST DISTRIBUTIVE FUND Senate SponsorsSen. Dan Cronin 1/11/2005SenateSession Sine Die 30 ILCS 105/5.595 new30 ILCS 115/1from Ch. 85, par. 61130 ILCS 115/2a newAmends the State Revenue Sharing Act. Provides that, beginning on January 1, 2004, each month the Department of Revenue shall certify an amount equal to 1/11 (now, 1/10) of the net revenue realized from income taxes collected during the preceding month and shall certify an amount equal to the difference between 1/10 of the net revenue and 1/11 of the net revenue realized from income taxes collected during the preceding month. Provides that the Treasurer shall transfer from the General Revenue Fund an amount equal to the difference between 1/10 of the net revenue realized and 1/11 of the net revenue realized to a special fund in the State treasury, to be known as the School District Distributive Fund. Provides for the monthly distribution of money from the School District Distributive Fund to school districts in proportion to the average daily attendance of students in the school district as compared to the aggregate average daily attendance in school districts in the State. Amends the State Finance Act to create the new Fund. Effective January 1, 2004. 2/18/2003SenateFiled with Secretary by Sen. Dan Cronin 2/18/2003SenateFirst Reading 2/18/2003SenateReferred to Rules 2/26/2003SenateAssigned to Local Government 3/5/2003SenatePostponed - Local Government 3/12/2003SenateTo Subcommittee 3/14/2003SenateRule 3-9(a) / Re-referred to Rules 1/11/2005SenateSession Sine Die