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IL HB5612

Bill

Official Source

Status

Introduced

2/6/2026

Primary Sponsor

Travis Weaver

Click for details

Origin

House of Representatives

104th General Assembly

AI Summary

  • State Board of Education required to establish a property tax relief grant program for school districts beginning in fiscal year 2030
  • School districts receiving grants must reduce their maximum property tax extension by the grant amount received
  • Creates the Education Property Tax Relief Fund in the State treasury funded by transfers from the General Revenue Fund
  • Funding set at $600 million annually for fiscal years 2030-2033, increasing to $1.7 billion annually starting in fiscal year 2034
  • Grants distributed to school districts on a pro-rata basis according to per-pupil average daily attendance

Legislative Description

REVENUE-PROP TAX RELIEF

Last Action

Referred to Rules Committee

2/13/2026

Committee Referrals

Rules2/13/2026

Full Bill Text

No bill text available