SCH CD-MAX AGG TAX RATE

Amends the School Code. Provides that, excluding any capital improvement tax, the aggregate tax rate levied annually by a school district shall not exceed 4%. Provides that school districts remain subject to (i) particular maximum tax rates set forth under the Code and (ii) the district's limiting rate under the Property Tax Extension Limitation Law, if applicable. Requires the State to appropriate and the State Board of Education to distribute to each school district funds sufficient to cover the revenue that the district would have received but for the reduction in its tax rate.