IL HB3105

School districts with reserves of 50% or more of their operating budget at the end of a levy year cannot have their property tax extension exceed the previous levy year's extension

School districts with reserves of 60% or more must reduce their extension by the amount exceeding the 60% reserve threshold

The State Board of Education determines reserve levels, and school districts must provide required information for this calculation

School districts may hold a referendum to increase their educational limiting rate, requiring majority voter approval at a regularly scheduled election

Property tax bills must include a separate statement showing extension reductions for school districts affected by the 60% reserve threshold, effective July 1, 2025