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.


LRB095 04254 NHT 24295 b

FISCAL NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB0412 LRB095 04254 NHT 24295 b

1     AN ACT concerning education.
 
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 Section
5 18-4.4 as follows:
 
6     (105 ILCS 5/18-4.4)  (from Ch. 122, par. 18-4.4)
7     Sec. 18-4.4. Tax Equivalent Grants. When any State-owned
8 State institution is located in a school district in which the
9 State owns 45% or more of the total land area of the district,
10 the State Superintendent of Education shall annually direct the
11 State Comptroller to pay the amount of the tax-equivalent
12 grants provided in this Section, and the State Comptroller
13 shall draw his warrant upon the State Treasurer for the payment
14 of the grants. For fiscal year 1995 and each fiscal year
15 thereafter, the grant shall equal 0.5% of the equalized
16 assessed valuation of the land owned by the State (computing
17 that equalized assessed valuation by multiplying the average
18 value per taxable acre of the school district by the total
19 number of acres of land owned by the State). Annually on or
20 before September 15, 1994 and July 1, thereafter or, for a
21 school district to which this Section first applies on the
22 effective date of this amendatory Act of the 95th General
23 Assembly, annually on or before September 15, 2007 and July 1

 

 

HB0412 - 2 - LRB095 04254 NHT 24295 b

1 thereafter, the district superintendent shall certify to the
2 State Board of Education the following matters:
3         1. The name of the State institution.
4         2. The total land area of the district in acres.
5         3. The total ownership of the land of the State in
6     acres.
7         4. The total equalized assessed value of all the land
8     in the district.
9         5. The rate of school tax payable in the year.
10         6. The computed amount of the tax-equivalent grant
11     claimed.
12     Failure of any district superintendent to certify the claim
13 for the tax-equivalent grant on or before September 15, 1994 or
14 July 1 of a given subsequent year or, for a school district to
15 which this Section first applies on the effective date of this
16 amendatory Act of the 95th General Assembly, on or before
17 September 15, 2007 or July 1 of a subsequent year shall
18 constitute a forfeiture by the district of its right to such
19 grant for the school year.
20 (Source: P.A. 91-723, eff. 6-2-00.)
 
21     Section 99. Effective date. This Act takes effect upon
22 becoming law.