HB 4734

Abstract

Amends the School Code. Requires the State Board of Education to survey all school districts that are partly or wholly contained within Cook County and that billed owners of real property in 2007, for tax year 2006, under the alternative general homestead exemption provisions of the Property Tax Code. Provides that the survey shall request each of these school districts to certify, by affidavit signed by the superintendent of the district, the losses suffered by the school district in certain areas. Requires the State Treasurer, by non-appropriated statutory transfer, to transfer to each school district, from general revenue funds, the amounts certified by the school district in its survey response, if that response has been certified by the State Board of Education. Effective immediately.