Full Text of SB0514 99th General Assembly
SB0514ham001 99TH GENERAL ASSEMBLY | Rep. Lawrence Walsh, Jr. Filed: 11/22/2016
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| 1 | | AMENDMENT TO SENATE BILL 514
| 2 | | AMENDMENT NO. ______. Amend Senate Bill 514 by replacing | 3 | | everything after the enacting clause with the following:
| 4 | | "Section 5. The School Code is amended by changing Section | 5 | | 17-2A as follows:
| 6 | | (105 ILCS 5/17-2A) (from Ch. 122, par. 17-2A)
| 7 | | Sec. 17-2A. Interfund transfers. | 8 | | (a) The school board of any district having a population of | 9 | | less than
500,000 inhabitants may, by proper resolution | 10 | | following a public hearing
set by the school board or the | 11 | | president of the school board
(that is preceded (i) by at least | 12 | | one published notice over the name of
the clerk
or secretary of | 13 | | the board, occurring at least 7 days and not more than 30
days
| 14 | | prior to the hearing, in a newspaper of general circulation | 15 | | within the
school
district and (ii) by posted notice over the | 16 | | name of the clerk or secretary of
the board, at least 48 hours |
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| 1 | | before the hearing, at the principal office of the
school board | 2 | | or at the building where the hearing is to be held if a | 3 | | principal
office does not exist, with both notices setting | 4 | | forth the time, date, place,
and subject matter of the
| 5 | | hearing), transfer money from (1) the Educational Fund to the | 6 | | Operations
and
Maintenance Fund or the Transportation Fund, (2) | 7 | | the Operations and
Maintenance Fund to the Educational Fund or | 8 | | the Transportation Fund, or (3) the
Transportation Fund to the | 9 | | Educational Fund or the Operations and Maintenance
Fund of said
| 10 | | district,
provided that, except during the period from July 1, | 11 | | 2003 through June 30, 2019, such transfer is made solely for | 12 | | the purpose of meeting one-time,
non-recurring expenses. | 13 | | Except during the period from July 1, 2003 through
June 30, | 14 | | 2019 and except as otherwise provided in subsection (b) of this | 15 | | Section, any other permanent interfund transfers authorized
by | 16 | | any provision or judicial interpretation of this Code for which | 17 | | the
transferee fund is not precisely and specifically set forth | 18 | | in the provision of
this Code authorizing such transfer shall | 19 | | be made to the fund of the school
district most in need of the | 20 | | funds being transferred, as determined by
resolution of the | 21 | | school board. | 22 | | (b) Notwithstanding subsection (a) of this Section or any
| 23 | | other provision of this Code to the contrary, the school board
| 24 | | of any school district (i) that is subject to the Property Tax
| 25 | | Extension Limitation Law, (ii) that has a population of less
| 26 | | than 500,000 inhabitants, (iii) that is levying at its maximum
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| 1 | | tax rate, (iv) whose total equalized assessed valuation has
| 2 | | declined 20% in the prior 2 years, (v) in which 80% or more
of | 3 | | its students receive free or reduced-price lunch, and (vi) that | 4 | | had an equalized assessed valuation of less than $207 million | 5 | | but more than $203 million in the 2011 levy year may annually, | 6 | | until July 1, 2016, transfer money from any fund of the | 7 | | district, other than the Illinois Municipal Retirement Fund and | 8 | | the Bonds and Interest Fund, to the educational fund, the | 9 | | operations and maintenance fund, or the transportation fund of | 10 | | the district by proper resolution following a public hearing | 11 | | set by the school board or the president of the school board, | 12 | | with notice as provided in subsection (a) of this Section, so | 13 | | long as the district meets the qualifications set forth in this | 14 | | subsection (b) on the effective date of this amendatory Act of | 15 | | the 98th General Assembly even if the district does not meet | 16 | | those qualifications at the time a given transfer is made.
| 17 | | (c) Notwithstanding subsection (a) of this Section or any | 18 | | other provision of this Code to the contrary, the school board | 19 | | of any school district (i) that is subject to the Property Tax | 20 | | Extension Limitation Law, (ii) that is an elementary district | 21 | | servicing students in grades K through 8, (iii) whose territory | 22 | | is in one county, (iv) that is eligible for Section 7002 | 23 | | Federal Impact Aid, and (v) that has no more than $81,000 in | 24 | | funds remaining from refinancing bonds that were refinanced a | 25 | | minimum of 5 years prior to the effective date of this | 26 | | amendatory Act of the 99th General Assembly may make a one-time |
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| 1 | | transfer of the funds remaining from the refinancing bonds to | 2 | | the Operations and Maintenance Fund of the district by proper | 3 | | resolution following a public hearing set by the school board | 4 | | or the president of the school board, with notice as provided | 5 | | in subsection (a) of this Section, so long as the district | 6 | | meets the qualifications set forth in this subsection (c) on | 7 | | the effective date of this amendatory Act of the 99th General | 8 | | Assembly. | 9 | | (Source: P.A. 98-26, eff. 6-21-13; 98-131, eff. 1-1-14; 99-713, | 10 | | eff. 8-5-16.)
| 11 | | Section 99. Effective date. This Act takes effect upon | 12 | | becoming law.".
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