093_SB1321eng

 
SB1321 Engrossed                     LRB093 07810 NHT 07999 b

 1        AN ACT regarding schools.

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

 4        Section 5.   The  School  Code  is  amended  by  changing
 5    Sections 2-3.33 and 2-3.84 as follows:

 6        (105 ILCS 5/2-3.33) (from Ch. 122, par. 2-3.33)
 7        Sec. 2-3.33. Recomputation of claims. To recompute within
 8    3  years  from the final date for filing of a claim any claim
 9    for reimbursement to any school district  if  the  claim  has
10    been  found  to  be incorrect and to adjust subsequent claims
11    accordingly, and to recompute  and  adjust  any  such  claims
12    within  6 years from the final date for filing when there has
13    been an adverse court or administrative  agency  decision  on
14    the merits affecting the tax revenues of the school district.
15    However, no such adjustment shall be made regarding equalized
16    assessed  valuation  unless the district's equalized assessed
17    valuation is changed by greater than $250,000 or 2%.
18        Except in the case of an adverse court or  administrative
19    agency  decision  no recomputation of a State aid claim shall
20    be made pursuant to this Section as a result of  a  reduction
21    in  the  assessed  valuation  of  a  school district from the
22    assessed valuation of the  district  reported  to  the  State
23    Board of Education by the Department of Revenue under Section
24    18-8.05  18-8 unless the requirements of Section 16-15 of the
25    Property Tax Code and Section 2-3.84 of  this  Code  Act  are
26    complied with in all respects.
27        This  paragraph applies to all requests for recomputation
28    of a general State aid claim received after June 30, 2003. In
29    recomputing a general State aid  claim  that  was  originally
30    calculated  using  an extension limitation equalized assessed
31    valuation under paragraph (3) of subsection  (G)  of  Section
 
SB1321 Engrossed            -2-      LRB093 07810 NHT 07999 b
 1    18-8.05  of  this  Code,  a qualifying reduction in equalized
 2    assessed valuation  shall  be  deducted  from  the  extension
 3    limitation  equalized  assessed  valuation  that  was used in
 4    calculating the original claim.
 5    (Source: P.A. 88-555, eff.  7-27-94;  88-670,  eff.  12-2-94;
 6    89-235, eff. 8-4-95; 89-397, eff. 8-20-95.)

 7        (105 ILCS 5/2-3.84) (from Ch. 122, par. 2-3.84)
 8        Sec.  2-3.84.   In calculating the amount of State aid to
 9    be apportioned to the various school districts in this State,
10    the State Board of Education shall incorporate and deduct the
11    total aggregate adjustments to assessments made by the  State
12    Property Tax Appeal Board or Cook County Board of Appeals, as
13    reported  pursuant  to Section 16-15 of the Property Tax Code
14    or Section 129.1 of the Revenue Act of 1939 by the Department
15    of Revenue, from the equalized  assessed  valuation  that  is
16    otherwise to be utilized in the initial calculation.
17    (Source: P.A. 88-670, eff. 12-2-94.)

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