Illinois General Assembly - Full Text of SB2157
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Full Text of SB2157  102nd General Assembly

SB2157 102ND GENERAL ASSEMBLY

  
  

 


 
102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
SB2157

 

Introduced 2/26/2021, by Sen. Jil Tracy

 

SYNOPSIS AS INTRODUCED:
 
30 ILCS 115/11.3 new

    Amends the State Revenue Sharing Act. Provides that, in fiscal year 2021, each school district having Personal Property Tax Replacement Fund receipts totaling 13% or more of their total revenues for fiscal year 2018 shall receive an additional distribution of 19% of the total amount distributed to the school district from the Personal Property Tax Replacement Fund during fiscal year 2018. Provides that the total amount of additional distributions shall not exceed $4,769,101. Effective immediately.


LRB102 13230 HLH 18574 b

 

 

A BILL FOR

 

SB2157LRB102 13230 HLH 18574 b

1    AN ACT concerning revenue.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The State Revenue Sharing Act is amended by
5adding Section 11.3 as follows:
 
6    (30 ILCS 115/11.3 new)
7    Sec. 11.3. Funding of certain school districts.
8    (a) On July 1, 2021, or as soon as practical thereafter,
9the State Board of Education shall identify to the Department
10of Revenue school districts having Personal Property Tax
11Replacement Fund receipts in fiscal year 2020 totaling 13% or
12more of their total revenues for fiscal year 2018.
13    (b) In fiscal year 2021, any school district identified
14under subsection (a) shall receive, in addition to its annual
15distributions from the Personal Property Tax Replacement Fund,
1619% of the total amount distributed to the school district
17from the Personal Property Tax Replacement Fund during fiscal
18year 2018, provided that the total amount of additional
19distributions under this Section shall not exceed $4,769,101.
20If the total additional distributions exceed $4,769,101, such
21distributions shall be calculated on a pro rata basis, based
22on the percentage of each district's total fiscal year 2018
23revenues to the total fiscal year 2018 revenues of all

 

 

SB2157- 2 -LRB102 13230 HLH 18574 b

1districts qualifying for an additional distribution under this
2Section.
 
3    Section 99. Effective date. This Act takes effect upon
4becoming law.