Public Act 93-0393

HB0765 Enrolled                      LRB093 05394 NHT 05484 b

    AN ACT in relation to education.

    Be it enacted by the People of  the  State  of  Illinois,
represented in the General Assembly:

    Section  5.  The  School  Code  is  amended  by  changing
Section 17-2A as follows:

    (105 ILCS 5/17-2A) (from Ch. 122, par. 17-2A)
    Sec. 17-2A.  Interfund Transfers. The school board of any
district having a population of less than 500,000 inhabitants
may,  by  proper resolution following a public hearing set by
the school board or the president of the school  board  (that
is  preceded  (i)  by  at least one published notice over the
name of the clerk or secretary of  the  board,  occurring  at
least  7 days and not more than 30 days prior to the hearing,
in a newspaper  of  general  circulation  within  the  school
district and (ii) by posted notice over the name of the clerk
or  secretary  of  the  board,  at  least 48 hours before the
hearing, at the principal office of the school  board  or  at
the  building  where the hearing is to be held if a principal
office does not exist, with both notices  setting  forth  the
time,  date,  place,  and  subject  matter  of  the hearing),
transfer  money  from  (1)  the  Educational  Fund   to   the
Operations  and  Maintenance Fund or the Transportation Fund,
(2) the Operations and Maintenance Fund  to  the  Educational
Fund  or  the  Transportation Fund, or (3) the Transportation
Fund  to  the  Educational  Fund  or   the   Operations   and
Maintenance  Fund  of  said  district,  provided that, except
during the period from July 1, 2003 through  June  30,  2005,
such  transfer  is  made  solely  for  the purpose of meeting
one-time, non-recurring expenses.  Except during  the  period
from  July 1, 2003 through June 30, 2005, any other permanent
interfund transfers authorized by any provision  or  judicial
interpretation  of this Code for which the transferee fund is
not precisely and specifically set forth in the provision  of
this Code authorizing such transfer shall be made to the fund
of  the  school  district  most  in  need  of the funds being
transferred, as determined by resolution of the school board.
(Source: P.A. 92-127, eff. 1-1-02; 92-722, eff. 7-25-02.)

    Section 99.  Effective date.  This Act takes effect  upon
becoming law.