Senate Sponsors: BERMAN. Short description: SCHOOL FINANCE-PROP TAX LEVY Synopsis of Bill as introduced: Amends the Property Tax Extension Limitation Law in the Property Tax Code and the School Code. Excepts from application of the Property Tax Extension Limitation Law certain school districts whose operating tax rate levies are below the level required to receive State aid under the formula generally applied in computing State aid for other school districts. Provides for approval of a proposition to create a community unit school district by the favorable vote of a majority of the electors voting upon the proposition (instead of by a majority of the voters in each of the affected districts) if each of the districts affected has a student enrollment of less than 1,000. Provides for staggered increases over a 5 year period in the statutory maximum rates at which unit and elementary districts may levy taxes for educational and for operations and maintenance purposes; but reduces the educational tax rates of districts that immediately prior to the effective date of the amendatory Act are authorized to levy above maximum reduced educational purposes tax rate levels that are established under the amendatory Act and reduces by 0.06% the educational purposes tax rate of the Chicago school district. Authorizes unit districts to levy up to .10% and other districts up to .05% for capital improvements purposes and to accumulate the tax proceeds without referendum. Increases the transportation tax rate and life safety tax rate for unit school districts. Provides for supplementary State aid to school districts that, due to consolidation, eliminate at least one high school of less than 500 students and must construct a new high school with an enrollment of more than 500 students. Provides for supplemental grants to school districts that suffer from the reduced rate limitations applicable to their educational purposes tax levies. Repeals back door referendum provisions applicable to downstate school districts. Increases the working cash fund tax rate maximum applicable to unit school districts. Makes substantial revisions to the State aid formula in order to guarantee a per pupil foundation level deemed adequate under the methodology developed by the State Board of Education. Effective July 1, 1997. Last action on Bill: SESSION SINE DIE Last action date: 99-01-12 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status