IL HB5577

Amends the School Code to modify Property Tax Pool Relief Grant provisions for school districts that provide tax relief to residents.

Changes the requirement from one tax year to the immediate 2 consecutive tax years following receipt of a grant for including tax relief in aggregate extension base calculations under the Property Tax Extension Limitation Law.

Replaces "aggregate levy" with "aggregate extension base" in calculating how granted tax relief is treated for purposes of the Property Tax Extension Limitation Law.

Takes effect July 1, 2020.