Bill Status of HB 5322   101st General Assembly

Short Description:  SCH CD-EXCESS CASH RESERVES

House Sponsors
Rep. Mary E. Flowers

Last Action  View All Actions

DateChamber Action
  1/13/2021HouseSession Sine Die

Statutes Amended In Order of Appearance
105 ILCS 5/10-20.73 new
105 ILCS 5/34-18.66 new

Synopsis As Introduced
Amends the School Code. Provides that if a school district has excess cash reserves, the school district must either: (i) reduce the amount of the tax levy for the following levy year by the amount of the excess cash reserves; or (ii) submit a report to the State Board of Education detailing the purpose and utilization timeline for those excess cash reserves. Provides that "excess cash reserves" means the amount of money in a working cash fund that exceeds 100% of the operating costs of the school district based on the preceding school year. Effective immediately.

Actions 
DateChamber Action
  2/14/2020HouseFiled with the Clerk by Rep. Mary E. Flowers
  2/18/2020HouseFirst Reading
  2/18/2020HouseReferred to Rules Committee
  1/13/2021HouseSession Sine Die

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