98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014
SB1933

 

Introduced 2/15/2013, by Sen. Tim Bivins

 

SYNOPSIS AS INTRODUCED:
 
30 ILCS 105/5.826 new
30 ILCS 105/6z-78
105 ILCS 5/2-3.157 new

    Amends the State Finance Act and the School Code. Requires the State Board of Education to create the School Security Enhancement Matching Grant Program to award grants to school districts that apply to help pay for physical security enhancements in school buildings. Provides that the State Board shall award grants to school districts in the form of a matching grant, whereby the grant would cover 75% of the cost of the enhancements and school district funds would cover the remaining 25% of the cost of the enhancements. Creates the School Security Enhancement Matching Fund as a special fund in the State treasury, with all money in the Fund to be used by the State Board for the School Security Enhancement Matching Grant Program. Provides that, after other transfers have been made, on the first day of the month, the State Treasurer and State Comptroller shall transfer $4.2 million from the Capital Projects Fund to the School Security Enhancement Matching Fund.


LRB098 08502 NHT 38613 b

FISCAL NOTE ACT MAY APPLY

 

 

A BILL FOR

 

SB1933LRB098 08502 NHT 38613 b

1    AN ACT concerning education.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The State Finance Act is amended by adding
5Section 5.826 and by changing Section 6z-78 as follows:
 
6    (30 ILCS 105/5.826 new)
7    Sec. 5.826. The School Security Enhancement Matching Fund.
 
8    (30 ILCS 105/6z-78)
9    Sec. 6z-78. Capital Projects Fund; bonded indebtedness;
10transfers. Money in the Capital Projects Fund shall, if and
11when the State of Illinois incurs any bonded indebtedness using
12the bond authorizations enacted in Public Act 96-36, Public Act
1396-1554, and this amendatory Act of the 97th General Assembly,
14be set aside and used for the purpose of paying and discharging
15annually the principal and interest on that bonded indebtedness
16then due and payable. Money in the Capital Projects Fund may
17also be used for the School Security Enhancement Matching Grant
18Program under Section 2-3.157 of the School Code through
19transfers to the School Security Enhancement Matching Fund
20under subsection (d) of this Section.
21    In addition to other transfers to the General Obligation
22Bond Retirement and Interest Fund made pursuant to Section 15

 

 

SB1933- 2 -LRB098 08502 NHT 38613 b

1of the General Obligation Bond Act, upon each delivery of
2general obligation bonds using bond authorizations enacted in
3Public Act 96-36, Public Act 96-1554, and this amendatory Act
4of the 97th General Assembly the State Comptroller shall
5compute and certify to the State Treasurer the total amount of
6principal of, interest on, and premium, if any, on such bonds
7during the then current and each succeeding fiscal year. With
8respect to the interest payable on variable rate bonds, such
9certifications shall be calculated at the maximum rate of
10interest that may be payable during the fiscal year, after
11taking into account any credits permitted in the related
12indenture or other instrument against the amount of such
13interest required to be appropriated for the period.
14    (a) Except as provided for in subsection (b), on or before
15the last day of each month, the State Treasurer and State
16Comptroller shall transfer from the Capital Projects Fund to
17the General Obligation Bond Retirement and Interest Fund an
18amount sufficient to pay the aggregate of the principal of,
19interest on, and premium, if any, on the bonds payable on their
20next payment date, divided by the number of monthly transfers
21occurring between the last previous payment date (or the
22delivery date if no payment date has yet occurred) and the next
23succeeding payment date. Interest payable on variable rate
24bonds shall be calculated at the maximum rate of interest that
25may be payable for the relevant period, after taking into
26account any credits permitted in the related indenture or other

 

 

SB1933- 3 -LRB098 08502 NHT 38613 b

1instrument against the amount of such interest required to be
2appropriated for that period. Interest for which moneys have
3already been deposited into the capitalized interest account
4within the General Obligation Bond Retirement and Interest Fund
5shall not be included in the calculation of the amounts to be
6transferred under this subsection.
7    (b) On or before the last day of each month, the State
8Treasurer and State Comptroller shall transfer from the Capital
9Projects Fund to the General Obligation Bond Retirement and
10Interest Fund an amount sufficient to pay the aggregate of the
11principal of, interest on, and premium, if any, on the bonds
12issued prior to January 1, 2012 pursuant to Section 4(d) of the
13General Obligation Bond Act payable on their next payment date,
14divided by the number of monthly transfers occurring between
15the last previous payment date (or the delivery date if no
16payment date has yet occurred) and the next succeeding payment
17date. If the available balance in the Capital Projects Fund is
18not sufficient for the transfer required in this subsection,
19the State Treasurer and State Comptroller shall transfer the
20difference from the Road Fund to the General Obligation Bond
21Retirement and Interest Fund; except that such Road Fund
22transfers shall constitute a debt of the Capital Projects Fund
23which shall be repaid according to subsection (c). Interest
24payable on variable rate bonds shall be calculated at the
25maximum rate of interest that may be payable for the relevant
26period, after taking into account any credits permitted in the

 

 

SB1933- 4 -LRB098 08502 NHT 38613 b

1related indenture or other instrument against the amount of
2such interest required to be appropriated for that period.
3Interest for which moneys have already been deposited into the
4capitalized interest account within the General Obligation
5Bond Retirement and Interest Fund shall not be included in the
6calculation of the amounts to be transferred under this
7subsection.
8    (c) On the first day of any month when the Capital Projects
9Fund is carrying a debt to the Road Fund due to the provisions
10of subsection (b), the State Treasurer and State Comptroller
11shall transfer from the Capital Projects Fund to the Road Fund
12an amount sufficient to discharge that debt. These transfers to
13the Road Fund shall continue until the Capital Projects Fund
14has repaid to the Road Fund all transfers made from the Road
15Fund pursuant to subsection (b). Notwithstanding any other law
16to the contrary, transfers to the Road Fund from the Capital
17Projects Fund shall be made prior to any other expenditures or
18transfers out of the Capital Projects Fund.
19    (d) After transfers from the Capital Projects Fund under
20subsections (a) and (b) have been made, on the first day of the
21month, the State Treasurer and State Comptroller shall transfer
22$4.2 million from the Capital Projects Fund to the School
23Security Enhancement Matching Fund. If, in any given month, the
24full amount is not able to be transferred, then the amount not
25able to be transferred shall be added to the amount to be
26transferred the following month.

 

 

SB1933- 5 -LRB098 08502 NHT 38613 b

1(Source: P.A. 96-36, eff. 7-13-09; 96-820, eff. 11-18-09;
296-1554, eff. 3-18-11; 97-771, eff. 7-10-12.)
 
3    Section 10. The School Code is amended by adding Section
42-3.157 as follows:
 
5    (105 ILCS 5/2-3.157 new)
6    Sec. 2-3.157. School Security Enhancement Matching Grant
7Program.
8    (a) The State Board of Education shall create the School
9Security Enhancement Matching Grant Program to award grants to
10school districts that apply to help pay for physical security
11enhancements in school buildings. Enhancements for which grant
12funds may be used include without limitation physical or
13structural changes to buildings, windows, doors, video
14surveillance equipment, magnetometers, alarm systems, sound
15warning systems, communications equipment, or any security
16equipment that is deemed necessary by a school board to enhance
17the safety and security of the district's schools, the
18district's students, and the district's employees.
19    (b) The State Board of Education shall award grants to
20school districts in the form of a matching grant, whereby the
21grant would cover 75% of the cost of the enhancements and
22school district funds would cover the remaining 25% of the cost
23of the enhancements.
24    (c) The School Security Enhancement Matching Fund is

 

 

SB1933- 6 -LRB098 08502 NHT 38613 b

1created as a special fund in the State treasury. All money in
2the Fund shall be used, subject to appropriation, by the State
3Board of Education for the School Security Enhancement Matching
4Grant Program.
5    (d) The State Board of Education may adopt any rules it
6deems necessary to carry out its responsibilities under this
7Section.