Peoria Standard

Legislation proposed by Sen. Jil Tracy (R-Quincy) related to school district funding, tax increment financing (TIF) districts and property tax code changes received full support in the Senate.

Tracy saw no opposition on three bills she presented to her peers on April 11. 

Tracy said her first bill. SB2260, amends the State Revenue Sharing Act and provides that in Fiscal Year 2018 each school district having personal property tax replacement funds totaling 13 percent or more of its total revenues in Fiscal Year 2016 shall receive an additional amount equal to 11 percent of the total amount distributed to the school district from the personal property tax replacement tax fund during the fiscal year.

“It requires that the State Board of Education identify those school districts to the Department of Revenue and provides that the total amount of additional distributions shall not exceed 4 million dollars,” Tracy added.

The problem, according to Tracy, is that school districts have become most reliant on personal property tax replacement funds are getting hit again.

“Several years ago we did a supplemental to address this problem,” Tracy said, adding there are 22 school districts impacted. “One Monticello school district will lose $1.8 million if we don’t correct this and that is a tremendous blow.”

Havana School District would also up to $400,000, Tracy added.

Speaking to the bill, Sen. Sue Rezin (R-Morris) rose in support.

“I commend the sponsor for bringing this issue up for those that heavily rely on this particular grant and it is a bipartisan issue throughout the state,” Rezin said. “So, I would ask for everyone’s support.”

After SB2260 passed 55-0, Tracy moved  to SB2274 and explained her bill amends the property tax code by providing a transfer between spouses does not disqualify wooded acreage from the provisions of the assessment of untransferred wooded acreage.

“Short explanation, I had a constituent who did a land deed putting land in trust and that triggered the re-classification of the property because of the transfer, so this is just a transfer between the spouses,” Tracy said.

Following the passage of the measure at 58-0, Tracy put forth her last piece of legislation, SB2304, that extends the life of the city of Monmouth TIF district, which according to Tracy has been very successful in renovating the downtown area including the square and courthouse.

“This is a very heavily relied on economic development tool in downstate, specifically in the city of Monmouth,” Tracy said.

SB2260 passed 52-2.