Bill Text: IL SB1552 | 2019-2020 | 101st General Assembly | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Reinserts the provisions of the introduced bill with the following changes: (1) provides that school districts having Personal Property Tax Replacement Fund receipts totaling 13% or more of their total revenues in fiscal year 2018 are entitled to the additional distribution (in the introduced bill, the eligibility of districts is determined each fiscal year); (2) provides that the additional distribution shall be made only in fiscal year 2020 and shall be 19% (in the introduced bill, 11%) of the total amount distributed to the school district from the Personal Property Tax Replacement Fund during fiscal year 2018; and (3) provides that the total amount of additional distributions shall not exceed $4,769,101 (in the introduced bill, $4,353,136). Effective immediately.

Spectrum: Bipartisan Bill

Status: (Failed) 2021-01-13 - Session Sine Die [SB1552 Detail]

Download: Illinois-2019-SB1552-Introduced.html

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101ST GENERAL ASSEMBLY State of Illinois 2019 and 2020 SB1552 Introduced 2/15/2019, by Sen. Jil Tracy SYNOPSIS AS INTRODUCED:
30 ILCS 115/11.3 new
Amends the State Revenue Sharing Act. Provides that each school district having Personal Property Tax Replacement Fund receipts totaling 13% or more of its total revenues in the previous fiscal year shall receive an additional amount equal to 11% of the total amount distributed to the school district from the Personal Property Tax Replacement Fund. Requires the State Board of Education to identify those school districts to the Department of Revenue. Provides that the total amount of additional distributions shall not exceed $4,353,136. Effective immediately.
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FISCAL NOTE ACT MAY APPLY
A BILL FOR
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AN ACT concerning revenue.
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
adding Section 11.3 as follows:
(30 ILCS 115/11.3 new)
Sec. 11.3. Funding of certain school districts.
(a) On July 1 of each year, beginning 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 the previous
fiscal year.
(b) Beginning 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, 11% of the total amount distributed to the
school district from the Personal Property Tax Replacement Fund
during the previous fiscal year, provided that the total amount
of additional distributions under this Section shall not exceed
$4,353,136. If the total additional distributions exceed
$4,353,136, such distributions shall be calculated on a pro
rata basis, based on the percentage of each district's total

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previous fiscal year revenues to the total previous fiscal year
revenues of all districts qualifying for an additional
distribution under this Section.
Section 99. Effective date. This Act takes effect upon
becoming law.