SCH CD-UNIT DIST-TAX RATE

Amends the School Code. For school districts having a population of less than 500,000 inhabitants, provides that, subject to referendum, the maximum tax rate for certain recently formed community unit school districts that have a combined rate of more than 4% is as follows: for 2 years, the same as the actual combined rate of the previous elementary and secondary district; and in each subsequent year the rate shall be reduced by 0.10% or reduced to 4.00%, whichever is less. The school board may seek to increase the reduced rate by referendum. Effective immediately.