summary
Introduced
In Committee
Crossed Over
Passed
Dead
Introduced Session
97th General Assembly
Bill Summary
Amends the State Budget Law of the Civil Administration Code of Illinois. Provides that certain amounts shall be transferred from the General Revenue Fund to the Common School Fund. Amends the Illinois Income Tax Act. Increases the residential real property tax credit from 5% to 10%. Increases the limitation on the education expense credit from $500 to $1,000. Increases the percentage of the earned income tax credit from 5% of the federal tax credit to 15% in 2011 and thereafter. Makes changes concerning distributions to the Local Government Distributive Fund. Amends the Retailers' Occupation Tax Act. Provides that certain services are taxable under the Act. Amends the School Code. Creates the Education Financial Award System Fund, the Digital Learning Technology Grant Fund, and the STEM Education Center Grant Fund. Makes changes concerning the Early Childhood Education Block Grant; financial awards for school improvement and other awards; academic early warning and watch status; an educational improvement plan; the creation of the Digital Learning Technology Grant Program, a best practices clearinghouse, the Science, Technology, Engineering, and Mathematics Education Center Grant Program, and a resource management service; audits; school board member leadership training; a school district's school report card; financial policies and plans; a capital improvement plan; protection from suit; financial accountability; non-referendum bonds; the foundation level of support under the State aid formula; the New Teacher Induction and Mentoring Program; school board associations; and transportation reimbursement. Effective immediately.
AI Summary
This bill aims to increase funding and support for education in Illinois by amending several state laws. It proposes to transfer more money from the General Revenue Fund to the Common School Fund, ensuring that educational appropriations do not decrease from the previous fiscal year and establishing new funds for educational awards, digital learning, and STEM education. The bill also enhances tax credits for homeowners by doubling the residential real property tax credit to 10%, increasing the education expense credit from $500 to $1,000, and significantly boosting the earned income tax credit from 5% to 15% of the federal credit. Additionally, it expands the scope of the Retailers' Occupation Tax Act to include a list of specific services, making them taxable, and introduces various new programs and requirements within the School Code, such as financial accountability measures, capital improvement planning, leadership training for school board members, and improvements to the New Teacher Induction and Mentoring Program.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Session Sine Die (on 01/08/2013)
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