State of Illinois
91st General Assembly
Legislation

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91_SB1559eng

 
SB1559 Engrossed                               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
 
SB1559 Engrossed            -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.

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