HB0412 95TH GENERAL ASSEMBLY

LRB095 04254 NHT 24295 b

95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
HB0412

Introduced 01/26/07, by Rep. Raymond Poe

SYNOPSIS AS INTRODUCED:

105 ILCS 5/18-4.4

from Ch. 122, par. 18-4.4

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.

FISCAL NOTE ACT MAY APPLY

A BILL FOR

AN ACT concerning education.

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

Section 5. The School Code is amended by changing Section 18-4.4 as follows:

(105 ILCS 5/18-4.4) (from Ch. 122, par. 18-4.4)

Sec. 18-4.4. Tax Equivalent Grants. When any State-owned State institution is located in a school district in which the State owns 45% or more of the total land area of the district, the State Superintendent of Education shall annually direct the State Comptroller to pay the amount of the tax-equivalent grants provided in this Section, and the State Comptroller shall draw his warrant upon the State Treasurer for the payment of the grants. For fiscal year 1995 and each fiscal year thereafter, the grant shall equal 0.5% of the equalized assessed valuation of the land owned by the State (computing that equalized assessed valuation by multiplying the average value per taxable acre of the school district by the total number of acres of land owned by the State). Annually on or before September 15, 1994 and July 1, thereafter or, for a school district to which this Section first applies on the effective date of this amendatory Act of the 95th General Assembly, annually on or before September 15, 2007 and July 1 thereafter, the district superintendent shall certify to the State Board of Education the following matters:

1. The name of the State institution.

2. The total land area of the district in acres.

3. The total ownership of the land of the State in acres.

4. The total equalized assessed value of all the land in the district.

5. The rate of school tax payable in the year.

6. The computed amount of the tax-equivalent grant claimed.

Failure of any district superintendent to certify the claim for the tax-equivalent grant on or before September 15, 1994 or July 1 of a given subsequent year or, for a school district to which this Section first applies on the effective date of this amendatory Act of the 95th General Assembly, on or before September 15, 2007 or July 1 of a subsequent year shall constitute a forfeiture by the district of its right to such grant for the school year.

(Source: P.A. 91-723, eff. 6-2-00.)

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