92nd General Assembly
Summary of HB5736
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House Sponsors:

Short description: 
SCH CD-CAP IMPROVEMNT TAX LEVY                                             

Synopsis of Bill as introduced:
        Amends the School Code. Allows the Chicago Board of Education  to      
   levy  a  capital  improvement  tax  to  provide  revenue for specified      
   capital improvement purposes. Provides that an initial tax  levy  must      
   be  approved by the Chicago City Council before it can be extended. If      
   the Chicago City Council does not approve a resolution to  approve  or      
   disapprove  a capital improvement tax levy within 60 days, the initial      
   tax levy is  deemed  disapproved.  Authorizes  the  Chicago  Board  of      
   Education to issue bonds against any revenues to be collected from the      
   capital  improvement  tax  in  any  year  and pledge those revenues as      
   security for the payment of the bonds. Effective immediately.               
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: House

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


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