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Synopsis As Introduced Amends the School Code. Requires the State Board of Education to reimburse school districts for interest not earned on general State aid allocations beginning in August 2007 due to the delay in implementing the Fiscal Year 2008 State budget. Provides for certification of the amount and a report to the General Assembly. Effective immediately.
House Committee Amendment No. 1 Provides that there is no rulemaking authority under the amendatory Act, but that the Governor may suggest rules by filing them with the General Assembly and requesting that the General Assembly authorize such rulemaking by law, enact the suggested rules into law, or take other appropriate action in the General Assembly's discretion.
Deletes everything after the enacting clause. Amends the School Code. Provides that the State Board of Education shall determine the total amount paid to school districts for General State Aid under the State aid formula provisions of the Code for Fiscal Year 2008 until the implementation of Public Act 95-707 and the amount school districts should have received if Public Act 95-707 had become law before the beginning of Fiscal Year 2008 for the same period of time. Requires the State Board of Education to then compute the difference between what school districts should have received compared to what they received and multiply positive results by 2.102%. Provides that payments must be distributed to school districts for interest lost due to delayed General State Aid payments due to the delayed enactment of Public Act 95-707 and are subject to the appropriation of moneys for this purpose from the General Revenue Fund. Provides that there is no rulemaking authority under the amendatory Act, but that the Governor may suggest rules by filing them with the General Assembly and requesting that the General Assembly authorize such rulemaking by law, enact the suggested rules into law, or take other appropriate action in the General Assembly's discretion. Effective immediately.
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