PROP TX-SCHOOL DIST Senate SponsorsSen. James T. Meeks-Kimberly A. Lightford-Jacqueline Y. Collins-Rickey R. Hendon-Kwame Raoul and M. Maggie Crotty 1/13/2009SenateSession Sine Die 30 ILCS 105/5.675 new30 ILCS 105/6z-69 new35 ILCS 5/201from Ch. 120, par. 2-20135 ILCS 5/203from Ch. 120, par. 2-20335 ILCS 5/247 new35 ILCS 105/2from Ch. 120, par. 439.235 ILCS 105/3-50 rep.from Ch. 120, par. 439.3-5035 ILCS 110/2from Ch. 120, par. 439.3235 ILCS 115/2from Ch. 120, par. 439.10235 ILCS 120/1from Ch. 120, par. 44035 ILCS 120/2-5from Ch. 120, par. 441-535 ILCS 120/1d rep.from Ch. 120, par. 440d35 ILCS 120/1f rep.from Ch. 120, par. 440f35 ILCS 200/18-178 new35 ILCS 200/18-25535 ILCS 200/20-1535 ILCS 200/21-3035 ILCS 505/2bfrom Ch. 120, par. 418b105 ILCS 5/18-8.05105 ILCS 5/18-8.15 new105 ILCS 5/18-25 newAmends the State Finance Act. Creates the School District Property Tax Relief Fund. Requires annual appropriations from the education appropriation minimum to the Fund. Requires the Department of Revenue to annually certify the amounts of property tax relief grants that school districts will receive from the Fund. Sets forth procedures for appropriating these grants. Amends the Illinois Income Tax Act. Increases the tax rate for individuals, trusts, and estates from 3% to 5% and increased the tax rate for corporations from 4.8% to 8%. Includes retirement income within the definition of "base income" for certain individuals. Eliminates certain corporate exemptions. Creates the Family Tax Credit. Amends the use and occupation tax Acts. Eliminates exemptions concerning newsprint and ink and concerning manufacturing and assembling machinery. Includes certain arts, entertainment, and recreation services within the definition of "sale at retail". Amends the Property Tax Code. Requires county clerks to abate the extensions for educational purposes by the amount of the property tax relief grants. Amends the Motor Fuel Tax Law. Deletes provisions concerning certain discounts. Amends the School Code. In the State aid formula provisions, increases the foundation level of support and grant amount for supplemental general State aid. Provides for an education appropriation minimum and supplemental State aid for rapidly expanding school districts. Effective immediately. 2/8/2007SenateFiled with Secretary by Sen. James T. Meeks 2/8/2007SenateChief Co-Sponsor Sen. Kimberly A. Lightford 2/8/2007SenateChief Co-Sponsor Sen. Jacqueline Y. Collins 2/8/2007SenateChief Co-Sponsor Sen. Rickey R. Hendon 2/8/2007SenateChief Co-Sponsor Sen. Kwame Raoul 2/8/2007SenateCo-Sponsor Sen. M. Maggie Crotty 2/8/2007SenateFirst Reading 2/8/2007SenateReferred to Rules 2/21/2007SenateAssigned to Executive 3/14/2007SenateRule 2-10 Committee Deadline Established As March 30, 2007 7/9/2007SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Martin A. Sandoval 7/9/2007SenateSenate Committee Amendment No. 1 Referred to Rules 12/3/2007SenatePursuant to Senate Rule 3-9(b) / Referred to Rules 1/13/2009SenateSession Sine Die