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90_HB2485ham002
LRB9008874THpkam
1 AMENDMENT TO HOUSE BILL 2485
2 AMENDMENT NO. . Amend House Bill 2485, AS AMENDED,
3 by replacing the title with the following:
4 "AN ACT relating to school construction bonds, amending
5 named Acts."; and
6 by inserting below the last line of Section 5 the following:
7 "Section 10. The School Construction Law is amended by
8 changing Section 5-5 as follows:
9 (105 ILCS 230/5-5)
10 Sec. 5-5. Definitions. As used in this Article:
11 "Approved school construction bonds" mean: (i) bonds
12 that were issued by a school district on or after January 1,
13 1993 and before January 1, 1996 as authorized under
14 subsection (d) of Section 19-1 of the School Code for the
15 purpose of replacing a school building closed because of mine
16 subsidence damage or for the purpose of increasing the size
17 of, or providing for additional functions in, a new school
18 building constructed to replace a school building closed as a
19 result of mine subsidence damage, or for both such purposes,
20 or (ii) bonds that were approved by referendum after January
21 1, 1996 but prior to January 1, 1998 as provided in Sections
-2- LRB9008874THpkam
1 19-2 through 19-7 of the School Code to provide funds for the
2 acquisition, development, construction, reconstruction,
3 rehabilitation, improvement, architectural planning, and
4 installation of capital facilities consisting of buildings,
5 structures, durable-equipment, and land for educational
6 purposes.
7 "Grant index" means a figure for each school district
8 equal to one minus the ratio of the district's equalized
9 assessed valuation per pupil in average daily attendance to
10 the equalized assessed valuation per pupil in average daily
11 attendance of the district located at the 90th percentile for
12 all districts of the same type. The grant index shall be no
13 less than 0.35 and no greater than 0.75 for each district;
14 provided that the grant index for districts whose equalized
15 assessed valuation per pupil in average daily attendance is
16 at the 99th percentile and above for all districts of the
17 same type shall be 0.00.
18 "School construction project" means the acquisition,
19 development, construction, reconstruction, rehabilitation,
20 improvement, architectural planning, and installation of
21 capital facilities consisting of buildings, structures,
22 durable equipment, and land for educational purposes.
23 (Source: P.A. 90-548, eff. 1-1-98.)".