IL HB0009

State Board of Education must establish a property tax relief grant program for school districts beginning in fiscal year 2026

School districts receiving grants must reduce their maximum aggregate property tax extension by the grant amount received, directly offsetting local property taxes

Grant funds distributed to districts on a pro rata basis according to per pupil average daily attendance from the previous school year

Creates the Education Property Tax Relief Fund, funded by transferring the difference between 25% of total State general fund appropriations and the total State contributions to six public employee retirement systems (Articles 2, 14, 15, 16, 17, and 18 of the Illinois Pension Code)

Governor's Office of Management and Budget must certify the transfer amount by September 1 each year; any unexpended funds at fiscal year end return to the General Revenue Fund