Illinois HB3105 establishes the School District Extension Freeze Law, limiting tax extensions for school districts with certain reserve levels.
Illinois HB3105 introduces the School District Extension Freeze Law, which caps tax extensions for school districts with reserves of 50% or more of their operating budget. If a district has reserves of 50% or more, the county clerk must extend a rate for that district for all purposes that is no greater than the educational limiting rate. For districts with reserves of 60% or more, the extension is further reduced by the difference between the district's reserve amount and 60% of the operating budget.
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- Legal Framework
- Critical Issues
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