103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
SB2179

 

Introduced 2/10/2023, by Sen. Tom Bennett

 

SYNOPSIS AS INTRODUCED:
 
30 ILCS 105/5.990 new
105 ILCS 5/1A-12 new

    Amends the School Code. Provides that the State Board of Education shall establish and administer an annual program to award property tax relief to property taxpayer's within school districts in the State. Provides that the State Board of Education shall work with county clerk's offices in the State to determine the amount given to each property taxpayer. Provides that moneys awarded to property taxpayers shall be distributed pro rata based on the amount the property taxpayer paid in tax in the previous fiscal year. Creates the Education Property Tax Relief Fund for the purpose of making appropriations for the grant program. Amends the State Finance Act to make conforming changes. Effective immediately.


LRB103 30763 RJT 57247 b

 

 

A BILL FOR

 

SB2179LRB103 30763 RJT 57247 b

1    AN ACT concerning revenue.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The State Finance Act is amended by adding
5Section 5.990 as follows:
 
6    (30 ILCS 105/5.990 new)
7    Sec. 5.990. The Education Property Tax Relief Fund.
 
8    Section 15. The School Code is amended by adding Section
91A-12 as follows:
 
10    (105 ILCS 5/1A-12 new)
11    Sec. 1A-12. School District Property Tax Relief Grant
12Program; Education Property Tax Relief Fund.
13    (a) As used in this Section:
14    "Adjusted maximum aggregate property tax extension" means
15the highest aggregate property tax extension that the district
16is authorized by law to levy, without regard to this Section,
17for the taxable year for which the adjusted maximum aggregate
18property tax extension is calculated, minus the grant amount
19received by the school district for the fiscal year that ends
20during the taxable year for which the adjusted maximum
21aggregate property tax extension is calculated.

 

 

SB2179- 2 -LRB103 30763 RJT 57247 b

1    "Aggregate property tax extension" means the annual
2corporate extension for the school district and those special
3purpose extensions that are made annually for the school
4district.
5    "Taxable year" means the calendar year during which
6property taxes payable in the next succeeding year are levied.
7    (b) For State fiscal year 2024 and each State fiscal year
8thereafter, the State Board of Education shall establish and
9administer an annual program to award property tax relief
10grants to property taxpayer's within school districts in the
11State. The State Board of Education shall work with county
12clerk's offices in the State to determine the amount given to
13each property taxpayer. Moneys awarded to property taxpayers
14under this Section shall be distributed pro rata based on the
15amount the property taxpayer paid in tax in the previous
16fiscal year. The total grant amount given to property
17taxpayers who live within a school district specified school
18district shall be based on the increase of school district's
19maximum aggregate property tax extension for the taxable year
20that begins on January 1 of the fiscal year the grant is given
21in comparison to the previous fiscal years aggregate property
22tax extension. Grants shall be awarded from moneys
23appropriated for that purpose from the Education Property Tax
24Relief Fund created in subsection (c).
25    (c) The Education Property Tax Relief Fund is hereby
26created as a special fund in the State treasury. By September

 

 

SB2179- 3 -LRB103 30763 RJT 57247 b

11, 2023, and by September 1 of each calendar year thereafter,
2the Governor's Office of Management and Budget shall certify
3to the State Comptroller and the State Treasurer an amount
4equal to the difference, if any, between (i) 25% of the total
5amount appropriated from all State general funds as part of
6the State budget for the fiscal year that begins on the
7immediately preceding July 1, including any amounts
8appropriated for the purpose of making grants under this
9Section, and (ii) the total amount appropriated by the State,
10including any continuing appropriations, for that fiscal year
11as State contributions to the retirement system established
12under Article 14 of the Illinois Pension Code, the retirement
13system established under Article 15 of the Illinois Pension
14Code, and the retirement system established under Article 16
15of the Illinois Pension Code. Upon receiving the certified
16amount from the Governor's Office of Management and Budget,
17the Comptroller shall order transferred and the Treasurer
18shall transfer the certified amount from the General Revenue
19Fund to the Education Property Tax Relief Fund. Any unexpended
20amounts remaining in the Fund on the last day of the State
21fiscal year shall be transferred from the Education Property
22Tax Relief Fund to the General Revenue Fund.
 
23    Section 99. Effective date. This Act takes effect upon
24becoming law.