Senate Sponsors: O'MALLEY. House Sponsors: CROTTY-BASSI-BEAUBIEN Short description: SCH CD-TORT-TRANSPORT TRANSFER Synopsis of Bill as introduced: Amends the School Code. Allows the school board of any school district (i) with a population of less than 50,000, (ii) that has sold tax anticipation warrants during the last 5 years, and (iii) that has a tax base of more than 75% residential property to transfer from the Tort Immunity Fund and the Transportation Fund to any other school district fund an amount of money not to exceed a specified amount. Effective immediately. FISCAL NOTE (State Board of Education) It is too speculative to estimate what districts might engage in the transfers set forth in SB 899. The transfers could per- mit more general expenditures that currently cannot occur because the funds are "trapped" in the Transportation and Tort Immunity Funds for limited and specific purposes. STATE MANDATES NOTE (State Board of Education) Same as SBE fiscal note. HOUSE AMENDMENT NO. 1. Adds reference to: 105 ILCS 5/17-2A from Ch. 122, par. 17-2A Further amends the School Code. In a provision allowing interfund transfers by a district having a population of less than 500,000 inhabitants, removes the limit on the amount of money that may be transferred and the limit on the purpose for which the transfer may be made, subject to the limitations of the Property Tax Extension Limitation Law, if applicable. Last action on Bill: SESSION SINE DIE Last action date: JAN-07-2003 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 0 END OF INQUIRY Full Text Bill Status