Illinois General Assembly - Full Text of SB0060
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Full Text of SB0060  102nd General Assembly


Sen. John Connor

Filed: 3/12/2021





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2    AMENDMENT NO. ______. Amend Senate Bill 60 on page 8,
3immediately below line 7, by inserting the following:
4    "Section 10. The School Code is amended by changing
5Section 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
8institution is located in a school district in which the State
9owns 40% 45% or more of the total land area of the district,
10the State Superintendent of Education shall annually direct
11the State Comptroller to pay the amount of the tax-equivalent
12grants provided in this Section, and the State Comptroller
13shall draw his warrant upon the State Treasurer for the
14payment of the grants. For fiscal year 1995 and each fiscal
15year thereafter, the grant shall equal 0.5% of the equalized
16assessed valuation of the land owned by the State (computing



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1that equalized assessed valuation by multiplying the average
2value per taxable acre of the school district by the total
3number of acres of land owned by the State). Annually on or
4before September 15, 1994 and July 1, thereafter, the district
5superintendent shall certify to the State Board of Education
6the following matters:
7        1. The name of the State institution.
8        2. The total land area of the district in acres.
9        3. The total ownership of the land of the State in
10    acres.
11        4. The total equalized assessed value of all the land
12    in the district.
13        5. The rate of school tax payable in the year.
14        6. The computed amount of the tax-equivalent grant
15    claimed.
16    Failure of any district superintendent to certify the
17claim for the tax-equivalent grant on or before September 15,
181994 or July 1 of a subsequent year shall constitute a
19forfeiture by the district of its right to such grant for the
20school year.
21(Source: P.A. 91-723, eff. 6-2-00.)".