summary
Introduced
02/17/2015
02/17/2015
In Committee
03/17/2015
03/17/2015
Crossed Over
Passed
Dead
01/10/2017
01/10/2017
Introduced Session
Potential new amendment
99th 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. Provides that the income tax rates on individuals, trusts, estates, and corporations shall be 5%. Increases the residential real property tax credit from to 10%. Increases the limitation on the education expense credit. Increases the percentage of the earned income tax credit. 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 makes several significant changes to Illinois law, primarily focusing on education funding and taxation. It increases the state income tax rate for individuals, trusts, estates, and corporations to a flat 5%, and raises the residential real property tax credit from 5% to 10%. The bill also increases the education expense credit and the percentage of the earned income tax credit, while also making changes to distributions to the Local Government Distributive Fund. Additionally, it expands the scope of taxable services under the Retailers' Occupation Tax Act to include a list of specific services. In terms of education, the bill establishes new funds such as the Education Financial Award System Fund, the Digital Learning Technology Grant Fund, and the STEM Education Center Grant Fund. It also introduces provisions related to early childhood education block grants, financial awards for school improvement, academic early warning and watch status, educational improvement plans, digital learning technology grants, a best practices clearinghouse, STEM education center grants, resource management services, audits, school board member leadership training, school report cards, financial policies, long-term financial plans, capital improvement plans, protection from suit, financial accountability, non-referendum bonds, the foundation level of support in the State aid formula, the New Teacher Induction and Mentoring Program, school board associations, and transportation reimbursement.
Committee Categories
Government Affairs
Sponsors (3)
Last Action
Senate Committee Amendment No. 1 Pursuant to Senate Rule 3-9(b) / Referred to Assignments (on 10/10/2015)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | http://www.ilga.gov/legislation/BillStatus.asp?DocNum=1260&GAID=13&DocTypeID=SB&SessionID=88&GA=99 |
| Senate Amendment 001 | http://www.ilga.gov/legislation/99/SB/09900SB1260sam001.htm |
| BillText | http://www.ilga.gov/legislation/99/SB/09900SB1260.htm |
| Bill | http://www.ilga.gov/legislation/99/SB/PDF/09900SB1260.pdf |
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