HB3627 101ST GENERAL ASSEMBLY

LRB101 10313 RJF 55419 b

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.

FISCAL NOTE ACT MAY APPLY

A BILL FOR

AN ACT concerning finance.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The State Revenue Sharing Act is amended by changing Section 11.3 as follows:

(30 ILCS 115/11.3 new)

Sec. 11.3. Funding of certain school districts; fiscal year 2020.

(a) On July 1, 2019, or as soon as practical thereafter, the State Board of Education shall identify to the Department of Revenue school districts having Personal Property Tax Replacement Fund receipts totaling 13% or more of their total revenues in fiscal year 2018.

(b) In fiscal year 2020, any school district identified under subsection (a) shall receive, in addition to its annual distributions from the Personal Property Tax Replacement Fund, 16% of the total amount distributed to the school district from the Personal Property Tax Replacement Fund during fiscal year 2018.

Section 99. Effective date. This Act takes effect upon becoming law.