105 ILCS 5/2-3.33
2021 Illinois Compiled Statutes|Chapter 105 - SCHOOLS|105 ILCS 5/ - School Code.|Article 2 - State Board of Education - Powers and Duties

 (from Ch. 122, par. 2-3.33)Sec. 2-3.33. Recomputation of claims.  To recompute within 3 years from the  final date for filing of a claim any claim for general State aid reimbursement to any school  district and one year from the final date for filing of a claim for evidence-based funding if the claim has been found to be incorrect and to adjust subsequent  claims accordingly, and to recompute and adjust any such claims within 6 years  from the final date for filing when there has been an adverse court or  administrative agency decision on  the merits affecting the tax revenues of the school district.  However, no such  adjustment shall be made regarding equalized assessed valuation unless the  district's equalized assessed valuation is changed by greater than $250,000 or  2%. Any adjustments for claims recomputed for the 2016-2017 school year and prior school years shall be applied to the apportionment of evidence-based funding in Section 18-8.15 of this Code beginning in the 2017-2018 school year and thereafter. However, the recomputation of a claim for evidence-based funding for a school district shall not require the recomputation of claims for all districts, and the State Board of Education shall only make recomputations of evidence-based funding for those districts where an adjustment is required.Except in the case of an adverse court or administrative agency decision,  no recomputation of a  State aid claim shall be made pursuant to this Section as a result of a  reduction in the assessed valuation of a school district from the assessed  valuation of the district reported to the State Board of Education by the  Department of Revenue under Section 18-8.05 or 18-8.15 of this Code unless the  requirements of Section  16-15 of the Property Tax Code and Section 2-3.84 of this Code are  complied with in all respects.This paragraph applies to all requests for recomputation of a general  State aid or evidence-based funding claim received after June 30, 2003. In recomputing a general  State aid or evidence-based funding claim that was originally calculated using an extension  limitation equalized assessed valuation under paragraph (3) of  subsection (G) of Section 18-8.05 of this Code or Section 18-8.15 of this Code, a qualifying reduction in  equalized assessed valuation shall be deducted from the extension  limitation equalized assessed valuation that was used in calculating the  original claim.From the total amount of general State aid or evidence-based funding to be provided to  districts, adjustments as a result of recomputation under this Section  together with adjustments under Section 2-3.84 must not exceed $25  million, in the aggregate for all districts under both Sections combined,  of the general State aid or evidence-based funding appropriation in any fiscal year; if necessary,  amounts shall be prorated among districts. If it is necessary to prorate  claims under this paragraph, then that portion of each prorated claim that is  approved but not paid in the current fiscal year may be resubmitted as a  valid claim in the following fiscal year.    (Source: P.A. 100-465, eff. 8-31-17.)