093_HB0180
LRB093 04360 NHT 04409 b
1 AN ACT concerning schools.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The School Code is amended by changing
5 Section 17-2C as follows:
6 (105 ILCS 5/17-2C)
7 Sec. 17-2C. Transfer from Tort Immunity Fund by
8 financially distressed school districts.
9 (a) The school board of any school district that is
10 certified under Section 19-1.5 as a financially distressed
11 school district may by resolution transfer from the Tort
12 Immunity Fund to any other school district fund an amount of
13 money not to exceed the lesser of $2,500,000 or 0.6% of the
14 value of the taxable property within the district, provided
15 the amount transferred is not then required for the payment
16 of any liabilities created by a settlement or a tort
17 judgement, defense costs, or for the payment of any
18 liabilities under the Unemployment Insurance Act, Workers'
19 Compensation Act, Workers' Occupational Diseases Act, or risk
20 care management programs.
21 (b) The school board of any district having a population
22 of less than 500,000 inhabitants may, by proper resolution
23 following a public hearing (that is preceded by at least one
24 published notice occurring at least 7 days prior to the
25 hearing in a newspaper of general circulation within the
26 school district and setting forth the time, date, place, and
27 subject matter of the hearing), transfer money from the Tort
28 Immunity Fund to the Educational Fund, provided the amount
29 transferred is not then required for the payment of any
30 liabilities created by a settlement or tort judgment, for
31 defense costs, or for the payment of any liabilities under
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1 the Unemployment Insurance Act, the Workers' Compensation
2 Act, the Workers' Occupational Diseases Act, or a risk care
3 management program.
4 (Source: P.A. 91-357, eff. 7-29-99.)
5 Section 99. Effective date. This Act takes effect upon
6 becoming law.