State of Illinois
92^nd General Assembly
Legislation

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92_SB0899eng

 
SB899 Engrossed                                LRB9207695NTsb

 1        AN ACT concerning schools.

 2        Be  it  enacted  by  the People of the State of Illinois,
 3    represented in the General Assembly:

 4        Section 5.   The  School  Code  is  amended  by  changing
 5    Section 17-2C as follows:

 6        (105 ILCS 5/17-2C)
 7        Sec.   17-2C.    Transfer  from  Tort  Immunity  Fund  or
 8    Transportation  Fund   by   financially   distressed   school
 9    districts.
10        (a)  The  school  board  of  any  school district that is
11    certified under Section 19-1.5 as  a  financially  distressed
12    school  district  may  by  resolution  transfer from the Tort
13    Immunity Fund to any other school district fund an amount  of
14    money  not  to exceed the lesser of $2,500,000 or 0.6% of the
15    value of the taxable property within the  district,  provided
16    the  amount  transferred is not then required for the payment
17    of  any  liabilities  created  by  a  settlement  or  a  tort
18    judgement,  defense  costs,  or  for  the  payment   of   any
19    liabilities  under  the  Unemployment Insurance Act, Workers'
20    Compensation Act, Workers' Occupational Diseases Act, or risk
21    care management programs.
22        (b)  The school board of any school district (i)  with  a
23    population  of  less  than  50,000,  (ii)  that  has sold tax
24    anticipation warrants during the  last  5  years  before  the
25    effective  date  of  this  amendatory Act of the 92nd General
26    Assembly, and (iii) that has a tax  base  of  more  than  75%
27    residential property may by resolution transfer from the Tort
28    Immunity  Fund to any other school district fund an amount of
29    money not to exceed the lesser of $2,500,000 or 0.6%  of  the
30    value  of  the taxable property within the district, provided
31    the amount transferred is not then required for  the  payment
 
SB899 Engrossed             -2-                LRB9207695NTsb
 1    of  any  liabilities  created  by  a  settlement  or  a  tort
 2    judgment,  for  defense  costs,  or  for  the  payment of any
 3    liabilities under the Unemployment  Insurance  Act,  Workers'
 4    Compensation Act, Workers' Occupational Diseases Act, or risk
 5    care management programs.
 6        (c)  The  school  board of any school district (i) with a
 7    population of less  than  50,000,  (ii)  that  has  sold  tax
 8    anticipation  warrants  during  the  last  5 years before the
 9    effective date of this amendatory Act  of  the  92nd  General
10    Assembly,  and  (iii)  that  has  a tax base of more than 75%
11    residential property may  by  resolution  transfer  from  the
12    Transportation  Fund  to  any  other  school district fund an
13    amount of money not to exceed the  lesser  of  $2,500,000  or
14    0.6%  of  the  value  of  the  taxable  property  within  the
15    district.
16    (Source: P.A. 91-357, eff. 7-29-99.)

17        Section  99.  Effective date.  This Act takes effect upon
18    becoming law.

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