IL SB2220

Removes provisions that excluded school districts' tax increment allocation financing (TIF) property values from state aid calculations under Section 18-8.05 of the School Code.

Previously, property located in redevelopment project areas where municipalities adopted tax increment allocation financing was excluded from a district's equalized assessed valuation used to calculate available local resources for state aid purposes.

The change eliminates the blank provision in subsection (G)(2)(a) that had excluded the incremental increase in property values within TIF districts from affecting state aid calculations.

This modification allows the full current equalized assessed valuation of property in TIF areas to be included when determining school districts' state funding allocations.