Illinois General Assembly - Bill Status for HB5572
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 Bill Status of HB5572  100th General Assembly


Short Description:  SCHOOL DISTRICT DEBT CONTROL

House Sponsors
Rep. Jeanne M Ives - Allen Skillicorn

Last Action
DateChamber Action
  4/27/2018HouseThird Reading - Short Debate - Lost 013-077-001

Statutes Amended In Order of Appearance
New Act


Synopsis As Introduced
Creates the School District Debt Control and Taxpayer Protection Act. Provides that a school district may not refinance debt past the repayment period of the debt when issued, may not issue debt to be serviced over a period of greater than 20 years, and may not issue capital appreciation bonds. Sets forth provisions calculating and establishing a debt limit and prohibiting new debt. Requires specified bond referendum and bond issuance information to be provided. Effective immediately.

House Floor Amendment No. 1
Replaces everything after the enacting clause. Reinserts the provisions of the introduced bill with the following changes. Makes changes to the definitions of the Act. Removes provisions concerning a school district's equalized assessed value, capital appreciation bonds, bond referendum information, and bond issuance information. Effective immediately.

Actions 
DateChamber Action
  2/16/2018HouseFiled with the Clerk by Rep. Jeanne M Ives
  2/16/2018HouseFirst Reading
  2/16/2018HouseReferred to Rules Committee
  3/21/2018HouseAssigned to Elementary & Secondary Education: Licensing, Administration & Oversight
  4/10/2018HouseDo Pass / Short Debate Elementary & Secondary Education: Licensing, Administration & Oversight; 009-000-000
  4/10/2018HousePlaced on Calendar 2nd Reading - Short Debate
  4/23/2018HouseHouse Floor Amendment No. 1 Filed with Clerk by Rep. Jeanne M Ives
  4/23/2018HouseHouse Floor Amendment No. 1 Referred to Rules Committee
  4/25/2018HouseHouse Floor Amendment No. 1 Rules Refers to Elementary & Secondary Education: Licensing, Administration & Oversight
  4/25/2018HouseSecond Reading - Short Debate
  4/25/2018HouseHeld on Calendar Order of Second Reading - Short Debate
  4/26/2018HouseHouse Floor Amendment No. 1 Recommends Be Adopted Elementary & Secondary Education: Licensing, Administration & Oversight; 009-000-000
  4/27/2018HouseHouse Floor Amendment No. 1 Adopted
  4/27/2018HousePlaced on Calendar Order of 3rd Reading - Short Debate
  4/27/2018HouseThird Reading - Short Debate - Lost 013-077-001
  4/27/2018HouseAdded Chief Co-Sponsor Rep. Allen Skillicorn

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