92nd General Assembly
Summary of HB1270
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House Sponsors:
WINTERS.

Senate Sponsors:
SYVERSON-BURZYNSKI

Short description: 
SCHOOL DISTRICT VALIDATION ACT                                             

Synopsis of Bill as introduced:
        Amends the Property Tax Code.  Makes  a  technical  change  in  a      
   Section concerning taxing districts.                                        
        SENATE AMENDMENT NO. 1.                                                
          Deletes reference to:                                                
          35 ILCS 300/1-150                                                    
          Adds reference to:                                                   
          New Act                                                              
        Deletes everything after the enacting clause.  Creates the School      
   District Validation (2001) Act.  Provides that all taxes levied before      
   the effective date of this amendatory Act by any school  district  for      
   the purpose of providing funds for the payment of the principal of and      
   interest  on  bonds  issued by that school district for the purpose of      
   implementing  equitable  remedies  ordered  by  a  federal  court   in      
   litigation  involving  school desegregation and refunding bonds issued      
   before the effective date of this amendatory Act to refund those bonds      
   are hereby validated, ratified, and confirmed as lawful,  valid  taxes      
   lawfully  levied  and  fully  authorized to be extended for collection      
   against all taxable property in the school district without limitation      
   as to rate or amount, notwithstanding that this levy and extension  of      
   unlimited  ad valorem taxes was not authorized in accordance with law.      
   Makes similar provision for bonds and refunding bonds  issued  by  the      
   school   district  for  the  purpose  of  funding  the  costs  of  the      
   court-ordered equitable remedies and for actions taken by  the  school      
   district  and  its board of education to authorize and issue the bonds      
   and refunding bonds and to levy and extend the taxes for  the  payment      
   of  the  principal  of  and interest on the bonds and refunding bonds.      
   Effective immediately.                                                      
 
Last action on Bill: PUBLIC ACT.............................. 92-0381

   Last action date: AUG-16-2001

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   1


   END OF INQUIRY 



 Full Text  Bill Status