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| [ Engrossed ] | [ House Amendment 001 ] |
91_SB1559
LRB9112804NTtm
1 AN ACT to amend the School Code by changing Section
2 17-2C.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The School Code is amended by changing
6 Section 17-2C as follows:
7 (105 ILCS 5/17-2C)
8 Sec. 17-2C. Transfer from Tort Immunity Fund or
9 Transportation Fund by financially distressed school
10 districts.
11 (a) The school board of any school district that is
12 certified under Section 19-1.5 as a financially distressed
13 school district may by resolution transfer from the Tort
14 Immunity Fund to any other school district fund an amount of
15 money not to exceed the lesser of $2,500,000 or 0.6% of the
16 value of the taxable property within the district, provided
17 the amount transferred is not then required for the payment
18 of any liabilities created by a settlement or a tort
19 judgement, defense costs, or for the payment of any
20 liabilities under the Unemployment Insurance Act, Workers'
21 Compensation Act, Workers' Occupational Diseases Act, or risk
22 care management programs.
23 (b) The school board of any school district located in a
24 county with a population of more than 3,000,000 (i) with a
25 population of less than 50,000, (ii) that has sold tax
26 anticipation warrants during the last 3 years before the
27 effective date of this amendatory Act of the 91st General
28 Assembly, and (iii) that has a tax base of more than 75%
29 residential property may by resolution make a one-time
30 transfer from the Tort Immunity Fund to any other school
31 district fund of an amount of money not to exceed the lesser
-2- LRB9112804NTtm
1 of $2,500,000 or 0.6% of the value of the taxable property
2 within the district, provided the amount transferred is not
3 then required for the payment of any liabilities created by a
4 settlement or a tort judgment, for defense costs, or for the
5 payment of any liabilities under the Unemployment Insurance
6 Act, Workers' Compensation Act, Workers' Occupational
7 Diseases Act, or risk care management programs.
8 (c) The school board of any school district located in a
9 county with a population of more than 3,000,000 (i) with a
10 population of less than 50,000, (ii) that has sold tax
11 anticipation warrants during the last 3 years before the
12 effective date of this amendatory Act of the 91st General
13 Assembly, and (iii) that has a tax base of more than 75%
14 residential property may by resolution make a one-time
15 transfer from the Transportation Fund to any other school
16 district fund of an amount of money not to exceed the lesser
17 of $2,500,000 or 0.6% of the value of the taxable property
18 within the district.
19 (Source: P.A. 91-357, eff. 7-29-99.)
20 Section 99. Effective date. This Act takes effect upon
21 becoming law.