90th General Assembly
Summary of HB1394
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House Sponsors:

Short description: 
SCHCD-STATE AID-EAV ADJUSTMENT                                             

Synopsis of Bill as introduced:
        Amends the School Code.  Adjusts  the  equalized  assessed  value      
   used  to compute general State aid for school districts subject to the      
   Property Tax Extension Limitation Act.  Provides that  the  district's      
   EAV  for State aid purposes shall be its EAV for the year prior to the      
   first year in which the Property Tax Limitation Law is implemented  in      
   the  district,  increased for each year thereafter by the lesser of 5%      
   or the percentage increase in  the  Consumer  Price  Index,  plus  the      
   assessed  value  attributable to the district's new property, plus the      
   equalized assessed value of property annexed to  the  district,  minus      
   the result obtained by dividing the aggregate amount of the abatements      
   in  district  taxes  made under specified Sections of the Property Tax      
   Code  by  the  district's  maximum  operating  tax  rate.    Effective      
Last action on Bill: SESSION SINE DIE

   Last action date: 99-01-12

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


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