Illinois General Assembly - Bill Status for HB6037
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 Bill Status of HB6037  96th General Assembly

Short Description:  SCH CD-FINANC OVERSIGHT PANEL

House Sponsors
Rep. Roger L. Eddy

Last Action
DateChamber Action
  1/11/2011HouseSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 200/18-50.1
35 ILCS 200/18-92
35 ILCS 200/18-241
40 ILCS 5/7-105from Ch. 108 1/2, par. 7-105
40 ILCS 5/7-109from Ch. 108 1/2, par. 7-109
105 ILCS 5/1A-8from Ch. 122, par. 1A-8
105 ILCS 5/1B-8from Ch. 122, par. 1B-8
105 ILCS 5/Art. 1H heading new
105 ILCS 5/1H-1 new
105 ILCS 5/1H-5 new
105 ILCS 5/1H-10 new
105 ILCS 5/1H-15 new
105 ILCS 5/1H-20 new
105 ILCS 5/1H-25 new
105 ILCS 5/1H-30 new
105 ILCS 5/1H-35 new
105 ILCS 5/1H-40 new
105 ILCS 5/1H-41 new
105 ILCS 5/1H-42 new
105 ILCS 5/1H-43 new
105 ILCS 5/1H-45 new
105 ILCS 5/1H-50 new
105 ILCS 5/1H-55 new
105 ILCS 5/1H-60 new
105 ILCS 5/1H-65 new
105 ILCS 5/1H-70 new
105 ILCS 5/1H-75 new
105 ILCS 5/1H-80 new
105 ILCS 5/1H-85 new
105 ILCS 5/1H-90 new
105 ILCS 5/1H-95 new
105 ILCS 5/1H-100 new
105 ILCS 5/1H-105 new
105 ILCS 5/1H-110 new
105 ILCS 5/1H-115 new
105 ILCS 5/1H-120 new
105 ILCS 5/1H-125 new
105 ILCS 5/1H-130 new
105 ILCS 5/1H-135 new
105 ILCS 5/1H-140 new
105 ILCS 5/1H-145 new
105 ILCS 5/1H-150 new
105 ILCS 5/1H-155 new
105 ILCS 5/1H-160 new
105 ILCS 5/1H-165 new
105 ILCS 5/1H-170 new
105 ILCS 5/8-6from Ch. 122, par. 8-6
105 ILCS 5/10-16.9 new
105 ILCS 5/17-1from Ch. 122, par. 17-1
115 ILCS 5/2from Ch. 48, par. 1702


Synopsis As Introduced
Creates the Financial Oversight Panel Law of the School Code. Allows a school district (other than the Chicago school district) to petition the State Board of Education for the establishment of a Financial Oversight Panel for the district. Allows the State Board to establish a Financial Oversight Panel without a petition from a district. Contains provisions concerning duties of the district; members and meetings of a Panel; powers of a Panel; officers of a Panel; collective bargaining agreements; deposits and investments; cash and bank accounts; the financial, management, and budgetary structure; the School District Emergency Financial Assistance Fund; grants and loans; the issuance of bonds; a tax levy; a debt service fund; a debt service reserve fund; bond anticipation notes; tax anticipation warrants and other certificates and notes; reports; a Panel audit; Panel property being exempt from taxation; sanctions; and abolition of a Panel. Makes related changes in the School Code, the Property Tax Code, and the Illinois Pension Code. Further amends the School Code with respect to districts in financial difficulty, the custody of school funds, bank reconciliation reports, and deficit reduction plans. Effective immediately.

Actions 
DateChamber Action
  2/10/2010HouseFiled with the Clerk by Rep. Roger L. Eddy
  2/10/2010HouseFirst Reading
  2/10/2010HouseReferred to Rules Committee
  1/11/2011HouseSession Sine Die

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