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94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
HB4214
Introduced 12/02/05, by Rep. Raymond Poe 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. Requires a tax-equivalent grant to be paid to any school district where a State-owned institution is located (now, a school district is entitled to a grant only if the State owns 45% or more of the total land area of the district). Effective immediately.
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| FISCAL NOTE ACT MAY APPLY | |
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A BILL FOR
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HB4214 |
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LRB094 15568 NHT 50767 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-owned
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| State institution is
located in a school district in which the |
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| State owns 45% or more of the
total land area of the district, |
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| the 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
or, for a |
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| school district to which this Section first applies on the |
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| effective date of this amendatory Act of the 94th General |
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| Assembly, annually on or before September 15, 2006 and July 1 |
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| thereafter, the district
superintendent shall certify to the |
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| State Board of Education 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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