SCH CD-ST AID-LOCAL RESOURCES

Amends the School Code. In the State aid formula provisions, changes a component used to calculate local property tax revenues per pupil and a component used to adjust the real property equalized assessed valuation, for a school district maintaining grades 9 through 12, from 1.05% to (i) 1.06% for the 2004-2005 school year, (ii) 1.07% for the 2005-2006 school year, (iii) 1.08% for the 2006-2007 school year, (iv) 1.09% for the 2007-2008 school year, and (v) 1.10% for the 2008-2009 school year and each school year thereafter. Effective July 1, 2004.