Illinois 2023-2024 Regular Session

Illinois House Bill HB3467 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB3467 Introduced , by Rep. Tim Ozinga SYNOPSIS AS INTRODUCED: 30 ILCS 105/5.990 new105 ILCS 5/1A-12 new Amends the School Code. Provides that the State Board of Education shall establish and administer an annual program to award property tax relief grants to school districts in the State. Provides that, in exchange for receiving a grant, the school district's maximum aggregate property tax extension for the taxable year that begins on January 1 of the fiscal year for which the grant is awarded may not exceed a specified maximum aggregate property tax extension. Creates the Education Property Tax Relief Fund for the purpose of making appropriations for the grant program. Amends the State Finance Act to make conforming changes. Effective immediately. LRB103 30521 RJT 56954 b A BILL FOR 103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB3467 Introduced , by Rep. Tim Ozinga SYNOPSIS AS INTRODUCED: 30 ILCS 105/5.990 new105 ILCS 5/1A-12 new 30 ILCS 105/5.990 new 105 ILCS 5/1A-12 new Amends the School Code. Provides that the State Board of Education shall establish and administer an annual program to award property tax relief grants to school districts in the State. Provides that, in exchange for receiving a grant, the school district's maximum aggregate property tax extension for the taxable year that begins on January 1 of the fiscal year for which the grant is awarded may not exceed a specified maximum aggregate property tax extension. Creates the Education Property Tax Relief Fund for the purpose of making appropriations for the grant program. Amends the State Finance Act to make conforming changes. Effective immediately. LRB103 30521 RJT 56954 b LRB103 30521 RJT 56954 b A BILL FOR
2	2	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB3467 Introduced , by Rep. Tim Ozinga SYNOPSIS AS INTRODUCED:
3	3	30 ILCS 105/5.990 new105 ILCS 5/1A-12 new 30 ILCS 105/5.990 new 105 ILCS 5/1A-12 new
4	4	30 ILCS 105/5.990 new
5	5	105 ILCS 5/1A-12 new
6	6	Amends the School Code. Provides that the State Board of Education shall establish and administer an annual program to award property tax relief grants to school districts in the State. Provides that, in exchange for receiving a grant, the school district's maximum aggregate property tax extension for the taxable year that begins on January 1 of the fiscal year for which the grant is awarded may not exceed a specified maximum aggregate property tax extension. Creates the Education Property Tax Relief Fund for the purpose of making appropriations for the grant program. Amends the State Finance Act to make conforming changes. Effective immediately.
7	7	LRB103 30521 RJT 56954 b LRB103 30521 RJT 56954 b
8	8	LRB103 30521 RJT 56954 b
9	9	A BILL FOR
10	10	HB3467LRB103 30521 RJT 56954 b HB3467 LRB103 30521 RJT 56954 b
11	11	HB3467 LRB103 30521 RJT 56954 b
12	12	1 AN ACT concerning revenue.
13	13	2 Be it enacted by the People of the State of Illinois,
14	14	3 represented in the General Assembly:
15	15	4 Section 5. The State Finance Act is amended by adding
16	16	5 Section 5.990 as follows:
17	17	6 (30 ILCS 105/5.990 new)
18	18	7 Sec. 5.990. The Education Property Tax Relief Fund.
19	19	8 Section 15. The School Code is amended by adding Section
20	20	9 1A-12 as follows:
21	21	10 (105 ILCS 5/1A-12 new)
22	22	11 Sec. 1A-12. School District Property Tax Relief Grant
23	23	12 Program; Education Property Tax Relief Fund.
24	24	13 (a) As used in this Section:
25	25	14 "Adjusted maximum aggregate property tax extension" means
26	26	15 the highest aggregate property tax extension that the district
27	27	16 is authorized by law to levy, without regard to this Section,
28	28	17 for the taxable year for which the adjusted maximum aggregate
29	29	18 property tax extension is calculated, minus the grant amount
30	30	19 received by the school district for the fiscal year that ends
31	31	20 during the taxable year for which the adjusted maximum
32	32	21 aggregate property tax extension is calculated.
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36	36	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB3467 Introduced , by Rep. Tim Ozinga SYNOPSIS AS INTRODUCED:
37	37	30 ILCS 105/5.990 new105 ILCS 5/1A-12 new 30 ILCS 105/5.990 new 105 ILCS 5/1A-12 new
38	38	30 ILCS 105/5.990 new
39	39	105 ILCS 5/1A-12 new
40	40	Amends the School Code. Provides that the State Board of Education shall establish and administer an annual program to award property tax relief grants to school districts in the State. Provides that, in exchange for receiving a grant, the school district's maximum aggregate property tax extension for the taxable year that begins on January 1 of the fiscal year for which the grant is awarded may not exceed a specified maximum aggregate property tax extension. Creates the Education Property Tax Relief Fund for the purpose of making appropriations for the grant program. Amends the State Finance Act to make conforming changes. Effective immediately.
41	41	LRB103 30521 RJT 56954 b LRB103 30521 RJT 56954 b
42	42	LRB103 30521 RJT 56954 b
43	43	A BILL FOR
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49	49	30 ILCS 105/5.990 new
50	50	105 ILCS 5/1A-12 new
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67	67	HB3467- 2 -LRB103 30521 RJT 56954 b HB3467 - 2 - LRB103 30521 RJT 56954 b
68	68	HB3467 - 2 - LRB103 30521 RJT 56954 b
69	69	1 "Aggregate property tax extension" means the annual
70	70	2 corporate extension for the school district and those special
71	71	3 purpose extensions that are made annually for the school
72	72	4 district.
73	73	5 "Taxable year" means the calendar year during which
74	74	6 property taxes payable in the next succeeding year are levied.
75	75	7 (b) For State fiscal year 2024 and each State fiscal year
76	76	8 thereafter, the State Board of Education shall establish and
77	77	9 administer an annual program to award property tax relief
78	78	10 grants to school districts in the State. In exchange for
79	79	11 receiving a grant under this Section, the school district's
80	80	12 maximum aggregate property tax extension for the taxable year
81	81	13 that begins on January 1 of the fiscal year for which the grant
82	82	14 is awarded may not exceed its adjusted maximum aggregate
83	83	15 property tax extension for that taxable year. Grants shall be
84	84	16 awarded from moneys appropriated for that purpose from the
85	85	17 Education Property Tax Relief Fund created in subsection (c).
86	86	18 Moneys awarded to school districts under this Section shall be
87	87	19 distributed pro rata on a per pupil average daily attendance
88	88	20 basis, as reported in the school district report card for the
89	89	21 immediately preceding school year under Section 10-17a of the
90	90	22 School Code.
91	91	23 (c) The Education Property Tax Relief Fund is hereby
92	92	24 created as a special fund in the State treasury. By September
93	93	25 1, 2023, and by September 1 of each calendar year thereafter,
94	94	26 the Governor's Office of Management and Budget shall certify
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100	100	HB3467 - 2 - LRB103 30521 RJT 56954 b
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103	103	HB3467- 3 -LRB103 30521 RJT 56954 b HB3467 - 3 - LRB103 30521 RJT 56954 b
104	104	HB3467 - 3 - LRB103 30521 RJT 56954 b
105	105	1 to the State Comptroller and the State Treasurer an amount
106	106	2 equal to the difference, if any, between (i) 25% of the total
107	107	3 amount appropriated from all State general funds as part of
108	108	4 the State budget for the fiscal year that begins on the
109	109	5 immediately preceding July 1, including any amounts
110	110	6 appropriated for the purpose of making grants under this
111	111	7 Section, and (ii) the total amount appropriated by the State,
112	112	8 including any continuing appropriations, for that fiscal year
113	113	9 as State contributions to the retirement system established
114	114	10 under Article 16 of the Illinois Pension Code and the
115	115	11 retirement fund established under Article 17 of the Illinois
116	116	12 Pension Code. Upon receiving the certified amount from the
117	117	13 Governor's Office of Management and Budget, the Comptroller
118	118	14 shall order transferred and the Treasurer shall transfer the
119	119	15 certified amount from the General Revenue Fund to the
120	120	16 Education Property Tax Relief Fund. Any unexpended amounts
121	121	17 remaining in the Fund on the last day of the State fiscal year
122	122	18 shall be transferred from the Education Property Tax Relief
123	123	19 Fund to the General Revenue Fund.
124	124	20 Section 99. Effective date. This Act takes effect upon
125	125	21 becoming law.
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131	131	HB3467 - 3 - LRB103 30521 RJT 56954 b