EDUCATION FUNDING-TAX REFORM Senate SponsorsSen. James T. Meeks-John J. Cullerton-Emil Jones, Jr.-Kimberly A. Lightford-Jacqueline Y. Collins, M. Maggie Crotty, James F. Clayborne, Jr., Rickey R. Hendon, Mattie Hunter, Michael W. Frerichs, Iris Y. Martinez, William Delgado, Louis S. Viverito, Michael Noland, Heather Steans, Deanna Demuzio, Donne E. Trotter, David Koehler, Kwame Raoul, Martin A. Sandoval, Antonio Munoz, Don Harmon and James A. DeLeo 1/13/2009SenateSession Sine Die 30 ILCS 105/5.710 new30 ILCS 105/5.711 new30 ILCS 105/5.712 new30 ILCS 105/5.713 new30 ILCS 105/5.714 new30 ILCS 105/6z-76 new30 ILCS 105/6z-77 new30 ILCS 105/6z-78 new35 ILCS 5/201from Ch. 120, par. 2-20135 ILCS 5/218 new35 ILCS 200/18-167 new35 ILCS 200/18-25535 ILCS 200/20-1535 ILCS 200/21-30105 ILCS 5/1C-2105 ILCS 5/14-13.01from Ch. 122, par. 14-13.01105 ILCS 5/18-8.05105 ILCS 5/18-25 newAmends the State Finance Act, the Illinois Income Tax Act, and the Property Tax Code. Increases the income tax rates for individuals, trusts, and estates from 3% to 5% of the taxpayer's net income and increases the rate of income tax for corporations from 4.8% to 8% of the taxpayer's net income. Creates an income tax credit for families with incomes below certain levels. Creates the School District Property Tax Relief Fund, and requires the General Assembly appropriate certain amounts into the Fund. Provides that grants must be made from the Fund to school districts. Requires that property taxes be abated in school districts by the amount of the grants from the Fund. Creates the Higher Education Operating Assistance Fund, and requires the General Assembly to appropriate certain amounts into the Fund. Requires certain distributions from that Fund. Creates the Invest in Illinois Fund for the purpose of funding the cost of issuance, interest, fees, principal payments, and other debt service on Invest in Illinois Bonds and requires appropriations into the Fund. Creates the Capital Strategy Board to make recommendations concerning the issuance of bonds. Contains several continuing appropriation requirements. Amends the School Code. Creates the Early Childhood Fund to support the Illinois Early Learning Standards and their use in early childhood programs and other programs. Makes changes concerning special education reimbursement for personnel. With respect to the State aid formula, makes changes concerning the foundation level of support, creation of the School Improvement Partnership Pool Fund, and supplemental general State aid. Provides that the General Assembly shall appropriate from the General Revenue Fund to the Common School Fund an Education Appropriation Minimum. Effective July 1, 2008. 2/14/2008SenateFiled with Secretary by Sen. James T. Meeks 2/14/2008SenateFirst Reading 2/14/2008SenateReferred to Rules 2/14/2008SenateAdded as Chief Co-Sponsor Sen. Kimberly A. Lightford 2/19/2008SenateAdded as Chief Co-Sponsor Sen. John J. Cullerton 2/20/2008SenateAdded as Chief Co-Sponsor Sen. Jacqueline Y. Collins 2/20/2008SenateAdded as Chief Co-Sponsor Sen. M. Maggie Crotty 2/20/2008SenateAssigned to Education 2/20/2008SenateAdded as Co-Sponsor Sen. James F. Clayborne, Jr. 2/20/2008SenateAdded as Co-Sponsor Sen. Rickey R. Hendon 2/20/2008SenateAdded as Co-Sponsor Sen. Mattie Hunter 2/20/2008SenateAdded as Co-Sponsor Sen. Michael W. Frerichs 2/20/2008SenateAdded as Co-Sponsor Sen. Iris Y. Martinez 2/20/2008SenateAdded as Co-Sponsor Sen. William Delgado 2/20/2008SenateAdded as Co-Sponsor Sen. Louis S. Viverito 2/20/2008SenateAdded as Co-Sponsor Sen. Michael Noland 2/20/2008SenateAdded as Co-Sponsor Sen. Heather Steans 2/20/2008SenateSponsor Removed Sen. M. Maggie Crotty 2/22/2008SenateAdded as Co-Sponsor Sen. Deanna Demuzio 2/25/2008SenateAdded as Co-Sponsor Sen. Donne E. Trotter 2/26/2008SenateAdded as Co-Sponsor Sen. David Koehler 2/26/2008SenateAdded as Co-Sponsor Sen. Kwame Raoul 2/27/2008SenateAdded as Co-Sponsor Sen. Emil Jones, Jr. 2/27/2008SenateSponsor Removed Sen. Emil Jones, Jr. 2/28/2008SenateDo Pass Education; 006-003-001 2/28/2008SenatePlaced on Calendar Order of 2nd Reading March 5, 2008 2/28/2008SenateAdded as Chief Co-Sponsor Sen. Emil Jones, Jr. 2/28/2008SenateAdded as Co-Sponsor Sen. M. Maggie Crotty 3/13/2008SenateAdded as Co-Sponsor Sen. Martin A. Sandoval 3/27/2008SenateAdded as Co-Sponsor Sen. Antonio Munoz 4/15/2008SenateAdded as Co-Sponsor Sen. Don Harmon 5/1/2008SenateAdded as Co-Sponsor Sen. James A. DeLeo 5/8/2008SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. James T. Meeks 5/8/2008SenateSenate Floor Amendment No. 1 Referred to Rules 5/8/2008SenateSenate Floor Amendment No. 2 Filed with Secretary by Sen. John J. Cullerton 5/8/2008SenateSenate Floor Amendment No. 2 Referred to Rules 5/8/2008SenateSenate Floor Amendment No. 3 Filed with Secretary by Sen. Deanna Demuzio 5/8/2008SenateSenate Floor Amendment No. 3 Referred to Rules 5/8/2008SenateSenate Floor Amendment No. 4 Filed with Secretary by Sen. John M. Sullivan 5/8/2008SenateSenate Floor Amendment No. 4 Referred to Rules 5/8/2008SenateSenate Floor Amendment No. 5 Filed with Secretary by Sen. Edward D. Maloney 5/8/2008SenateSenate Floor Amendment No. 5 Referred to Rules 5/16/2008SenateSenate Floor Amendment No. 6 Filed with Secretary by Sen. John J. Cullerton 5/16/2008SenateSenate Floor Amendment No. 6 Referred to Rules 5/20/2008SenateRule 2-10 Third Reading Deadline Established As May 31, 2008 5/20/2008SenateSenate Floor Amendment No. 1 Rules Refers to Education 5/20/2008SenateSenate Floor Amendment No. 2 Rules Refers to Education 5/20/2008SenateSenate Floor Amendment No. 3 Rules Refers to Education 5/20/2008SenateSenate Floor Amendment No. 4 Rules Refers to Education 5/20/2008SenateSenate Floor Amendment No. 5 Rules Refers to Education 5/20/2008SenateSenate Floor Amendment No. 6 Rules Refers to Education 5/22/2008SenateSenate Floor Amendment No. 1 Recommend Do Adopt Education; 006-004-000 5/22/2008SenateSenate Floor Amendment No. 2 Recommend Do Adopt Education; 006-004-000 5/22/2008SenateSenate Floor Amendment No. 3 Recommend Do Adopt Education; 006-004-000 5/22/2008SenateSenate Floor Amendment No. 4 Recommend Do Adopt Education; 006-004-000 5/22/2008SenateSenate Floor Amendment No. 5 Recommend Do Adopt Education; 006-004-000 5/22/2008SenateSenate Floor Amendment No. 6 Recommend Do Adopt Education; 006-004-000 5/31/2008SenateRule 2-10 Third Reading Deadline Established As January 13, 2009 7/1/2008SenatePursuant to Senate Rule 3-9(b) / Referred to Rules 7/1/2008SenateSenate Floor Amendment No. 1 Re-referred to Rules; Pursuant to Senate Rule 3-9(b) 7/1/2008SenateSenate Floor Amendment No. 2 Re-referred to Rules; Pursuant to Senate Rule 3-9(b) 7/1/2008SenateSenate Floor Amendment No. 3 Re-referred to Rules; Pursuant to Senate Rule 3-9(b) 7/1/2008SenateSenate Floor Amendment No. 4 Re-referred to Rules; Pursuant to Senate Rule 3-9(b) 7/1/2008SenateSenate Floor Amendment No. 5 Re-referred to Rules; Pursuant to Senate Rule 3-9(b) 7/1/2008SenateSenate Floor Amendment No. 6 Re-referred to Rules; Pursuant to Senate Rule 3-9(b) 1/13/2009SenateSession Sine Die