Bill Status of HB 4779   103rd General Assembly


Short Description:  SCH CD-DEBT LIMIT EXCEPTION

House Sponsors
Rep. Jennifer Gong-Gershowitz

Last Action  View All Actions

DateChamber Action
  4/5/2024HouseRule 19(a) / Re-referred to Rules Committee

Statutes Amended In Order of Appearance
105 ILCS 5/19-1

Synopsis As Introduced
Amends the School Code. In a Section concerning the debt limitations of school districts, provides that, in addition to all other authority to issue bonds, Avoca School District 37 may issue bonds with an aggregate principal amount not to exceed $89,800,000 if specified conditions are met, including (i) that the voters of the school district approve a proposition for the bond issuance at an election held on or after March 19, 2024 and (ii) that, prior to the issuance of the bonds, the school board determines, by resolution, that the projects set forth in the proposition for the bond issuance were and are required because of the age and condition of the district's existing school buildings. Provides that the debt incurred on the bonds shall not be considered indebtedness for purposes of any statutory debt limitation and must mature within not to exceed 25 years from their date, notwithstanding any other law to the contrary. Effective immediately.

Actions 
DateChamber Action
  2/5/2024HouseFiled with the Clerk by Rep. Jennifer Gong-Gershowitz
  2/6/2024HouseFirst Reading
  2/6/2024HouseReferred to Rules Committee
  2/14/2024HouseAssigned to Revenue & Finance Committee
  3/8/2024HouseTo Revenue - Property Tax Subcommittee
  4/5/2024HouseRule 19(a) / Re-referred to Rules Committee

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