Illinois General Assembly - Bill Status for HB2739
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 Bill Status of HB2739  101st General Assembly


Short Description:  DEBT CONTROL-TAXPYR PROTECTION

House Sponsors
Rep. Thomas Morrison

Last Action
DateChamber Action
  1/13/2021HouseSession Sine Die

Statutes Amended In Order of Appearance
New Act
105 ILCS 5/19-32 new


Synopsis As Introduced
Creates the School District Debt Control and Taxpayer Protection Act, and amends the School Code. Provides that a school district may not refinance debt past the repayment period of the debt when issued, may not issue debt to be serviced over a period of greater than 20 years, and may not issue capital appreciation bonds. Provides that school districts may not be indebted in an amount greater than that indicated in the Act and if a school district does exceed the debt limitation, then the school district may not incur any new debt until the school district's debt is lower than the debt limitation. Effective immediately.

Actions 
DateChamber Action
  2/14/2019HouseFiled with the Clerk by Rep. Thomas Morrison
  2/14/2019HouseFirst Reading
  2/14/2019HouseReferred to Rules Committee
  2/26/2019HouseAssigned to Elementary & Secondary Education: Administration, Licensing & Charter School
  3/12/2019HouseMoved to Suspend Rule 21 Rep. Gregory Harris
  3/12/2019HouseSuspend Rule 21 - Prevailed
  3/29/2019HouseRule 19(a) / Re-referred to Rules Committee
  1/13/2021HouseSession Sine Die

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