REVENUE-PROP TAX RELIEF

Illinois General Assembly - Full Text of HB5612

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HB5612 - 104th General Assembly

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104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026
HB5612

Introduced 2/13/2026, by Rep. Travis Weaver

SYNOPSIS AS INTRODUCED:

30 ILCS 105/5.1038 new
105 ILCS 5/2-3.214 new

Amends the School Code. Provides that the State Board of Education
shall establish and administer a program to award property tax relief
grants to school districts in this State. Provides that, in exchange for
receiving a grant, a school district's maximum aggregate property tax
extension for the taxable year may not exceed its adjusted maximum
aggregate property tax extension for that taxable year. Amends the State
Finance Act to create the Education Property Tax Relief Fund.
LRB104 20415 HLH 33879 b

A BILL FOR

HB5612
LRB104 20415 HLH 33879 b
1

AN ACT concerning revenue.

2

Be it enacted by the People of the State of Illinois,
3
represented in the General Assembly:

4

Section 5.
The State Finance Act is amended by adding
5
Section 5.1038 as follows:

6

(30 ILCS 105/5.1038 new)
7

Sec. 5.1038.
The Education Property Tax Relief Fund.

8

Section 10.
The School Code is amended by adding Section
9
2-3.214 as follows:

10

(105 ILCS 5/2-3.214 new)
11

Sec. 2-3.214.
School district property tax relief grant
12
program.
13

(a) As used in this Section:

14

"Adjusted maximum aggregate property tax extension" means
15
the highest aggregate property tax extension that a school
16
district is authorized by law to levy, without regard to this
17
Section, for the taxable year for which the adjusted maximum
18
aggregate property tax extension is calculated, minus the
19
grant amount received by the school district for the fiscal
20
year that ends during the taxable year for which the adjusted
21
maximum aggregate property tax extension is calculated.

HB5612
- 2 -
LRB104 20415 HLH 33879 b
1

"Aggregate property tax extension" means the annual
2
corporate extension for the school district and those special
3
purpose extensions that are made annually for a school
4
district.

5

"Taxable year" means the calendar year during which
6
property taxes payable in the next succeeding year are levied.

7

(b) For State fiscal year 2030 and each State fiscal year
8
thereafter, the State Board of Education shall establish and
9
administer a program to award property tax relief grants to
10
school districts in this State. In exchange for receiving a
11
grant under this Section, a school district's maximum
12
aggregate property tax extension for the taxable year that
13
begins on January 1 of the fiscal year for which the grant is
14
awarded may not exceed its adjusted maximum aggregate property
15
tax extension for that taxable year. Grants shall be awarded
16
from moneys appropriated for that purpose from the Education
17
Property Tax Relief Fund created in subsection (c). Moneys
18
awarded to school districts under this Section shall be
19
distributed pro rata on a per-pupil average daily attendance
20
basis, as reported in the school district report card for the
21
immediately preceding school year under Section 10-17a.

22

(c) The Education Property Tax Relief Fund is created as a
23
special fund in the State treasury. By September 1, 2030, and
24
by September 1 of each year thereafter, the Governor's Office
25
of Management and Budget shall certify to the State
26
Comptroller and the State Treasurer an amount equal to

HB5612
- 3 -
LRB104 20415 HLH 33879 b
1
$600,000,000 in each of the State fiscal years 2030 through
2
2033 and $1,700,000,000 in fiscal year 2034 and every fiscal
3
year thereafter. Upon receiving the certified amount from the
4
Governor's Office of Management and Budget, the State
5
Comptroller shall order transferred and the State Treasurer
6
shall transfer the certified amount from the General Revenue
7
Fund to the Education Property Tax Relief Fund. Any unexpended
8
amounts remaining in the Education Property Tax Relief Fund on
9
the last day of the fiscal year shall be transferred from the
10
Education Property Tax Relief Fund to the General Revenue
11
Fund.

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