IL SB1552

State Board of Education must identify by July 1, 2019 school districts receiving 13% or more of their fiscal year 2018 total revenues from Personal Property Tax Replacement Fund receipts.

Identified school districts receive an additional 19% of their fiscal year 2018 Personal Property Tax Replacement Fund distributions in fiscal year 2020.

Total additional distributions cannot exceed $4,769,101; if exceeded, amounts are distributed on a pro rata basis based on each district's percentage of total revenues.

Act takes effect upon becoming law.