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92_SB0326enr SB326 Enrolled LRB9206277NTsb 1 AN ACT relating to schools. 2 Be it enacted by the People of the State of Illinois, 3 represented in the General Assembly: 4 Section 5. The School Code is amended by changing 5 Section 18-4.4 as follows: 6 (105 ILCS 5/18-4.4) (from Ch. 122, par. 18-4.4) 7 Sec. 18-4.4. Tax Equivalent Grants. When any State 8 institution is located in a school district in which the 9 State owns 45% or more of the total land area of the district 10 or when a United States military installation or base is 11 located in a school district with a population of less than 12 500,000 and there are students residing on the military 13 installation or base who are in attendance in the district, 14 the State Superintendent of Education shall annually direct 15 the State Comptroller to pay the amount of the tax-equivalent 16 grants provided in this Section, and the State Comptroller 17 shall draw his warrant upon the State Treasurer for the 18 payment of the grants. For fiscal year 1995 and each fiscal 19 year thereafter, the grant shall equal 0.5% of the equalized 20 assessed valuation of the land owned by the State or the 21 United States (computing that equalized assessed valuation by 22 multiplying the average value per taxable acre of the school 23 district by the total number of acres of land owned by the 24 State or the United States). Annually on or before September 25 15, 1994 and July 1, thereafter, the district superintendent 26 shall certify to the State Board of Education the following 27 matters: 28 1. The name of the State institution or United 29 States military installation or base. 30 2. The total land area of the district in acres. 31 3. The total ownership of the land of the State or SB326 Enrolled -2- LRB9206277NTsb 1 the United States in acres. 2 4. The total equalized assessed value of all the 3 land in the district. 4 5. The rate of school tax payable in the year. 5 6. The computed amount of the tax-equivalent grant 6 claimed. 7 However, for fiscal year 2002 only, for a school district 8 making a claim under this Section for a United States 9 military installation or base, the district superintendent 10 shall certify the matters on or before September 15, 2001 or 11 30 days after this amendatory Act of the 92nd General 12 Assembly becomes law, whichever is later. 13 Failure of any district superintendent to certify the 14 claim for the tax-equivalent grant on or before September 15, 15 1994 or July 1 of a subsequent year shall constitute a 16 forfeiture by the district of its right to such grant for the 17 school year. The grants to school districts where a military 18 installation or base is located in the district and students 19 residing on the military installation or base are in 20 attendance in the district shall be appropriated for 21 distribution from a separate line item. Payments under this 22 Section that are due because of the changes made to this 23 Section by this amendatory Act of the 92nd General Assembly 24 shall commence in fiscal year 2002. 25 (Source: P.A. 91-723, eff. 6-2-00.) 26 Section 99. Effective date. This Act takes effect upon 27 becoming law.