90th General Assembly
Summary of HB2470
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House Sponsors:

Short description: 
SCHOOL CONSTRUCTION GRANTS                                                 

Synopsis of Bill as introduced:
        Amends the School Construction Law,  the  School  Code,  and  the      
   State  Finance  Act.   Eliminates minimum enrollment requirements as a      
   criteria for grant eligibility under the School Construction  Law  and      
   reduces  the  EAV per ADA pupil percentile level at which districts no      
   longer qualify for a grant to  the  95th  from  the  99th  percentile.      
   Provides  for  the  State Board of Education to award a reorganization      
   incentive grant, payable from appropriations made out  of  the  School      
   Infrastructure  Fund,  to  a  school  district  that receives a school      
   construction project grant from the Capital  Development  Board  based      
   upon  the  district's present or anticipated school construction needs      
   attributable to its organization or formation as a community  unit  or      
   combined  school district or its annexation of all of the territory of      
   another school district.  Provides that the  organization,  formation,      
   or  annexation  must  be  initiated  by  a  petition  filed  after the      
   amendatory Act's effective date and must take effect for all  purposes      
   not  more  than  2  years  after  the  district  receives  its  school      
   construction  project grant.  Requires the State Board of Education to      
   certify to a school district that has been issued a grant  entitlement      
   for  a school construction project the amount of the project cost that      
   the district  will  be  required  to  finance  with  non-grant  funds.      
   Authorizes such a district, if it has no unused bonding capacity or if      
   its  remaining  bonding  capacity is less than the amount certified by      
   the State Board  of  Education,  to  by  referendum  incur  additional      
   indebtedness  by  the issuance of school construction project bonds in      
   an amount not exceeding  the  project  cost  that  the  district  must      
   finance with non-grant funds.  Makes other related changes.  Effective      
          STATE DEBT IMPACT NOTE                                               
          HB2470 would not affect the bonding authorization of the State       
          or the level of State indebtedness.                                  
          FISCAL NOTE (State Board of Education)                               
          Amount of new money needed cannot be determined.                     
          STATE MANDATES FISCAL NOTE (State Board of Education)                
          No change from SBE fiscal note.                                      
          FISCAL NOTE (Capital Development Board)                              
          No fiscal impact on current program; more money will need to be      
          appropriated to serve all additional eligible schools.               
Last action on Bill: SESSION SINE DIE

   Last action date: 99-01-12

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


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