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93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004
SB2846
Introduced 2/6/2004, by Lawrence M. Walsh SYNOPSIS AS INTRODUCED:
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105 ILCS 5/18-4.4 |
from Ch. 122, par. 18-4.4 |
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Amends the School Code. Provides that if the General Assembly fails to make a Common School Fund appropriation to the State Board of Education in any fiscal year sufficient to fund all tax equivalent grants for that fiscal year, then the amendatory Act constitutes an irrevocable and continuing appropriation from the Common School Fund of all amounts necessary for this purpose. Effective immediately.
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| FISCAL NOTE ACT MAY APPLY | |
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A BILL FOR
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SB2846 |
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LRB093 20876 NHT 46824 b |
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| AN ACT concerning education.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The School Code is amended by changing Section |
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| 18-4.4 as follows:
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| (105 ILCS 5/18-4.4) (from Ch. 122, par. 18-4.4)
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| Sec. 18-4.4. Tax Equivalent Grants. When any State |
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| institution is
located in a school district in which the State |
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| owns 45% or more of the
total land area of the district, the |
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| State Superintendent of Education
shall annually direct the |
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| State Comptroller to pay the amount of the
tax-equivalent |
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| grants provided in this Section, and the State Comptroller |
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| shall
draw his warrant upon the State Treasurer for the payment |
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| of the grants. For
fiscal year 1995 and each fiscal year |
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| thereafter,
the grant shall equal
0.5% of the equalized |
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| assessed
valuation of the land owned by the State (computing |
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| that equalized assessed
valuation by multiplying the average |
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| value per taxable acre of the school
district by the total |
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| number of acres of land owned by the State). Annually on
or |
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| before September 15, 1994 and July 1, thereafter, the district
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| superintendent shall certify to the State Board of Education |
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| the following
matters:
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| 1. The name of the State institution.
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| 2. The total land area of the district in acres.
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| 3. The total ownership of the land of the State in |
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| acres.
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| 4. The total equalized assessed value of all the land |
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| in the district.
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| 5. The rate of school tax payable in the year.
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| 6. The computed amount of the tax-equivalent grant |
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| claimed.
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| Failure of any district superintendent to certify the
claim |