House Sponsors: CROTTY. Short description: SCHOOLS AID FORMULA CHANGES Synopsis of Bill as introduced: Amends the School Code. Revises the State aid formula. Changes the manner of computing the Available Local Resources for school districts maintaining grades 9 through 12 and the manner of adjusting the equalized assessed valuation of the taxable property of those districts because of enterprise zone and other tax abatements by reducing a component of the formulas used to make those computations and adjustments to 1.10% from 1.20%. Also changes the manner of determining the Low Income Concentration Level of school districts of less than 500,000 inhabitants for the 1999-2000 and 2000-2001 school years. Effective immediately. FISCAL NOTE (State Board of Education) In 1999-2000, the change in the high school rate is estimated to cost an additional $16.0 million in GSA with a decrease of $13.3 million in hold harmless. The change in the poverty grant is estimated to cost an additional $500,000 in 1999-2000. STATE MANDATES FISCAL NOTE (State Board of Education) Same as previous SBE fiscal note. Last action on Bill: SESSION SINE DIE Last action date: 01-01-09 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status