IL SB2260

Amends the State Revenue Sharing Act by adding Section 11.2 to provide additional funding to certain school districts in fiscal year 2018.

State Board of Education must identify school districts where Personal Property Tax Replacement Fund receipts comprised 13% or more of total revenues in fiscal year 2016.

Qualifying school districts receive an additional 11% of their fiscal year 2016 Personal Property Tax Replacement Fund distributions in fiscal year 2018, up to a maximum cap of $4,353,136 statewide.

If total additional distributions exceed $4,353,136, amounts are distributed on a pro rata basis according to each qualifying district's share of total fiscal year 2016 revenues.

Act takes effect upon becoming law.