96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
HB2892


 
Introduced 2/24/2009, by Rep. Tom Cross
 
SYNOPSIS AS INTRODUCED:
 		














105 ILCS 5/1B-2
  from Ch. 122, par. 1B-2







    Amends the School Code.  Makes a technical change in a Section concerning financial oversight panels and emergency financial assistance.
















LRB096 06130 NHT 16212 b

















 


 


A BILL FOR









 











HB2892

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    AN ACT concerning education.

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


 
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    Section 5. The School Code is amended  by changing Section 
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1B-2 as follows:
 



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    (105 ILCS 5/1B-2)  (from Ch. 122, par. 1B-2)



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    Sec. 1B-2. Findings and purpose. 

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    (a) The General Assembly finds:


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        (1) A fundamental goal of the the people of the State, 
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    as
expressed in Section 1 of Article X of the Illinois

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    Constitution, is the educational development of all 
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    persons
to the limits of their capacities.  When a board of

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    education faces financial difficulties, continued 
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    operation
of the public school system is threatened.


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        (2) A sound financial structure is essential to the

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    continued operation of any school system.  It is vital to

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    commercial, educational and cultural interests that the

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    public schools remain in operation.  To achieve that goal,

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    public school systems must have effective access to the

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    private market to borrow short and long term funds.


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        (3) To promote the financial integrity of boards of

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    education of school districts with a population of less 
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    than
500,000, it is necessary to provide for emergency 
 


 






HB2892
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    State
financial assistance and the creation of financial 
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    oversight
panels with the powers necessary to promote sound 
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    financial
management to assure the continued availability 
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    of
educational opportunities.

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    (b) It is the purpose of this Article to provide
financial 
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oversight panels and emergency State financial assistance to

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school districts and
establish a secure financial basis for 
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their continued
existence.  The intention of the General 
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Assembly, in
enacting this legislation, is
to establish 
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procedures, provide powers and impose
restrictions to assure 
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the financial and educational
integrity of the public schools 
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while leaving principal
responsibility for the educational 
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policies of the public
schools to the boards of education 
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within the State,
consistent with the requirements for 
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satisfying the public
policy and purpose herein set forth.

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(Source: P.A. 88-618, eff. 9-9-94.)