FY-12 RT allocations are estimated at $1,221 million. This is a decrease of 12.8 percent, or $180 million, from FY-11’s RT allocations of $1,401 million. There are two primary reasons for the significant decrease in FY12’s RT Allocations from FY11’s. The reasons are:
Click here for a detailed listing of all local districts which are entitled to receive an allocation for Fiscal Year 2012 (July 1, 2011 through June 30, 2012)The list contains the following information:
This information may be considered certified by the Director of the Illinois Department of Revenue in accordance with 50 ILCS 420, Tax Anticipation Note Act.
Please note that the Illinois Department of Revenue and staff shall in no way be liable for error or miscalculation in certification of entitlements.
* "Entitlement" - the amount of the Replacement Tax paid or to be paid in any given full year to a unit of government.
** "Replacement Taxes" - the tax or taxes, as by law now or hereafter enacted or amended, imposed by the General Assembly to replace revenue lost by units of government as a result of the abolition of ad valorem personal property taxes pursuant to Article IX, Section 5(c) of the Constitution of the State of Illinois.