WAIT. New Act 30 ILCS 105/5.449 new 35 ILCS 200/18-45 35 ILCS 200/18-176 new 105 ILCS 5/17-11 from Ch. 122, par. 17-11 105 ILCS 5/18-8 from Ch. 122, par. 18-8 Creates the School District Income Tax Act. Allows school districts to tax income after referendum approval. Provides for additional levies, administration and distribution of the tax, and penalties for violations. Applies only to income earned following 120 days after certification of the results of the referendum. Amends the Property Tax Code to provide for alteration of the educational fund rate accordingly. Amends the School Code to require that school districts certify such income tax levies and amounts realized thereby for property tax abatement purposes and to coordinate the calculation of school aid with the income tax levies by adjusting the qualifying rate and operating tax rate accordingly. Amends the State Finance Act to create a new special fund in the State Treasury. Effective immediately. 97-02-04 H FIRST READING 97-02-04 H REFERRED TO HOUSE RULES COMMITTEE RULES 97-02-06 H ASSIGNED TO COMMITTEE REVENUE 97-03-21 H RE-REFERRED TO RULES COMM/RULE 19(A) RULES HRUL 99-01-12 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary