093_HB0765enr HB0765 Enrolled LRB093 05394 NHT 05484 b 1 AN ACT in relation to education. 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 17-2A as follows: 6 (105 ILCS 5/17-2A) (from Ch. 122, par. 17-2A) 7 Sec. 17-2A. Interfund Transfers. The school board of any 8 district having a population of less than 500,000 inhabitants 9 may, by proper resolution following a public hearing set by 10 the school board or the president of the school board (that 11 is preceded (i) by at least one published notice over the 12 name of the clerk or secretary of the board, occurring at 13 least 7 days and not more than 30 days prior to the hearing, 14 in a newspaper of general circulation within the school 15 district and (ii) by posted notice over the name of the clerk 16 or secretary of the board, at least 48 hours before the 17 hearing, at the principal office of the school board or at 18 the building where the hearing is to be held if a principal 19 office does not exist, with both notices setting forth the 20 time, date, place, and subject matter of the hearing), 21 transfer money from (1) the Educational Fund to the 22 Operations and Maintenance Fund or the Transportation Fund, 23 (2) the Operations and Maintenance Fund to the Educational 24 Fund or the Transportation Fund, or (3) the Transportation 25 Fund to the Educational Fund or the Operations and 26 Maintenance Fund of said district, provided that, except 27 during the period from July 1, 2003 through June 30, 2005, 28 such transfer is made solely for the purpose of meeting 29 one-time, non-recurring expenses. Except during the period 30 from July 1, 2003 through June 30, 2005, any other permanent 31 interfund transfers authorized by any provision or judicial HB0765 Enrolled -2- LRB093 05394 NHT 05484 b 1 interpretation of this Code for which the transferee fund is 2 not precisely and specifically set forth in the provision of 3 this Code authorizing such transfer shall be made to the fund 4 of the school district most in need of the funds being 5 transferred, as determined by resolution of the school board. 6 (Source: P.A. 92-127, eff. 1-1-02; 92-722, eff. 7-25-02.) 7 Section 99. Effective date. This Act takes effect upon 8 becoming law.