HB 1482

Abstract

Amends the School Code. Allows the school board of any district (other than the Chicago school district) to cause a proposition to levy an annual tax for gas and electric utility expenses to be submitted to the voters of the district at a regular scheduled election. Provides that if a majority of the votes cast on the question is in favor thereof, then the school board may levy the tax annually thereafter. Provides that any funds received from the imposition of the tax must be deposited into the utility fund of the school district. Provides that any surplus moneys in the utility fund may be rolled over to cover expenses for the following fiscal year. Provides that an extension made for gas and electric utility expense purposes is excluded from the definition of "aggregate extension" under the Property Tax Extension Limitation Law of the Property Tax Code.