House Sponsors: DAVIS,STEVE. Short description: SCH CD-DEBT LIMITS-TECHNICAL Synopsis of Bill as introduced: Amends the School Code. Replaces the long title of an Act with the Act's short title in a Section of the School Code relating to debt limitations of school districts. FISCAL NOTE (State Board of Education) No fiscal impact until substantive language is added. STATE MANDATES FISCAL NOTE (State Board of Education) No change from SBE fiscal note. HOUSE AMENDMENT NO. 1. Deletes reference to: 105 ILCS 5/19-1 Adds reference to: 105 ILCS 5/18-8 from Ch. 122, par. 18-8 Changes the title and replaces everything after the enacting clause. Adds provisions amending the School Code. Provides that the 1996-97 State aid of a district shall be computed using its 1995 EAV if its 1995 EAV is at least 4.6% less than its 1994 EAV because of a reduction in the EAV of the taxable property within the district of any one taxpayer whose taxable property within the district had a 1994 EAV that was at least 14% of the 1994 EAV of all taxable property in the district. Adds an immediate effective date. BALANCED BUDGET NOTE HB1097, amended, does not authorize, increase, decrease, or re- allocate any general funds appropriation for FY97. FISCAL NOTE (State Bd. of Ed.) An estimated $1,252,643 would be re-distributed. Based upon past experience, this figure could rise to as much as $2.6 M once all data is in. STATE MANDATES FISCAL NOTE (State Bd. of Ed.) No change from SBE fiscal note. STATE DEBT IMPACT NOTE, H-AM 1 HB 1097 would not have an impact on the level of State debt. Last action on Bill: THIRD READING/SHORT DEBATE/LOST 039-064-011 Last action date: 97-04-18 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 0 END OF INQUIRY Full Text Bill Status