State Revenue Sharing Act

Illinois · Finance · §§ 30-115-0-1 to 30-115-4 · 12 sections

Overview

The act governs the distribution of state-collected revenue to local units of government, including counties, municipalities, and other taxing districts. It establishes dedicated state funds from which those distributions are made, sets out how money is allocated and disbursed to each recipient, and limits how the funds may be used. It also provides for recovery of overpayments, allows recipients to direct their payments into escrow accounts pledged to bonded indebtedness, and includes provisions supporting certain school districts and replacement of personal property tax revenue.

Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.

Sections covered

30 ILCS 115/0.1This Act shall be known and may be cited as the State Revenue Sharing Act
30 ILCS 115/1Local Government Distributive Fund
30 ILCS 115/11Upon determination by the Department that an amount has been paid pursuant to this Act in excess of the amount to which the county, municipality or taxing district receiving such payment was entitled, the county, municipality or taxing district shall, upon demand by the Department, repay such amount
30 ILCS 115/11.1Funding of certain school districts
30 ILCS 115/11.2Funding of certain school districts; fiscal year 2019
30 ILCS 115/12Personal Property Tax Replacement Fund
30 ILCS 115/13A county, municipality or any other taxing district under this Act, may direct that all or any specified amount due to such entity under this Act be paid directly into a designated escrow account established by such municipality, county or other taxing district to repay specific bonded indebtedness
30 ILCS 115/13.1Finance › 30 ILCS 115 — State Revenue Sharing Act
30 ILCS 115/1aIncome Tax Surcharge Local Government Distributive Fund
30 ILCS 115/2Allocation and disbursement
30 ILCS 115/3Use of Fund
30 ILCS 115/4Municipality defined

Enacted in other states

New Jersey

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