101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
HB3627

 

Introduced , by Rep. Lawrence Walsh, Jr.

 

SYNOPSIS AS INTRODUCED:
 
30 ILCS 115/11.3 new

    Amends the State Revenue Sharing Act. Provides that, in fiscal year 2020, each school district having Personal Property Tax Replacement Fund receipts totaling 13% or more of its total revenues in fiscal year 2018 shall receive an additional amount equal to 16% of the total amount distributed to the school district from the Personal Property Tax Replacement Fund during fiscal year 2018. Requires the State Board of Education to identify those school districts to the Department of Revenue. Effective immediately.


LRB101 10313 RJF 55419 b

FISCAL NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB3627LRB101 10313 RJF 55419 b

1    AN ACT concerning finance.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The State Revenue Sharing Act is amended by
5changing Section 11.3 as follows:
 
6    (30 ILCS 115/11.3 new)
7    Sec. 11.3. Funding of certain school districts; fiscal year
82020.
9    (a) On July 1, 2019, or as soon as practical thereafter,
10the State Board of Education shall identify to the Department
11of Revenue school districts having Personal Property Tax
12Replacement Fund receipts totaling 13% or more of their total
13revenues in fiscal year 2018.
14    (b) In fiscal year 2020, any school district identified
15under subsection (a) shall receive, in addition to its annual
16distributions from the Personal Property Tax Replacement Fund,
1716% of the total amount distributed to the school district from
18the Personal Property Tax Replacement Fund during fiscal year
192018.
 
20    Section 99. Effective date. This Act takes effect upon
21becoming law.