105 ILCS 5/17-5
2021 Illinois Compiled Statutes|Chapter 105 - SCHOOLS|105 ILCS 5/ - School Code.|Article 17 - Budgets--Tax Rates--Tax Warrants

 (from Ch. 122, par. 17-5)Sec. 17-5. Increase tax rates for operations and maintenance purposes-Maximum.(a) The school board in any district having a population of less than  500,000 inhabitants may, by proper resolution, cause a proposition to  increase the annual tax rate for operations and maintenance purposes to be  submitted to the voters of the district at a regular scheduled election.  The board shall certify the proposition to the proper election authority  for submission to the elector in accordance with the general election law.  In districts maintaining grades 1 through 8,  or grades 9 through 12, the maximum rate for operations and  maintenance purposes shall not exceed .55%; and in districts maintaining  grades 1 through 12, the maximum rates for operations and  maintenance purposes shall not exceed .75%, except that if a single elementary  district and a secondary district having boundaries that are coterminous  on the effective date of this amendatory Act form a community unit district  as authorized under Section 11-6, the maximum rate for operation  and maintenance purposes for such district shall not exceed 1.10% of the  value as equalized or assessed by the Department of Revenue; and in such  district maintaining grades 1 through 12, funds may, subject to the  provisions of Section 17-5.1 accumulate to not more than 5% of the  equalized assessed valuation of the district. No such accumulation shall  ever be transferred or used for any other purpose. If a majority of the  votes cast on the proposition is in favor thereof, the school board may  thereafter, until such authority is revoked in like manner, levy annually a  tax as authorized.(b)  Beginning on the effective date of this amendatory Act of the 97th General Assembly, if a unit  district is being established from an elementary district or districts and a high school district, pursuant to Article 11E of this Code, and the combined rate of the elementary district or districts and the high school district prior to the formation of the unit district is greater than 0.75% for operations and maintenance purposes, then the maximum rate for operations and maintenance purposes for the unit district shall be the following:(1) For the first year following formation of the new     unit district, the maximum rate shall equal the lesser of the actual combined rate of the previous highest elementary district rate and the high school district rate or 1.03%.(2) For the second year after formation of the new     unit district, the maximum rate shall equal the lesser of the actual combined rate of the previous highest elementary district rate and the high school district rate or 0.96%.(3) For the third year after the formation of the new     unit district, the maximum rate shall equal the lesser of the actual combined rate of the previous highest elementary district rate and the high school district rate or 0.89%.(4) For the fourth year after the formation of the     new unit district, the maximum rate shall equal the lesser of the actual combined rate of the previous highest elementary district rate and the high school district rate or 0.82%.(5) For the fifth year after the formation of the new     unit district and thereafter, the maximum rate shall be no greater than 0.75%. (Source: P.A. 97-1022, eff. 1-1-13.)