Bill Status of SB 1994   103rd General Assembly

Short Description:  SCH CD-CASH AND FUNDS

Senate Sponsors
Sen. Meg Loughran Cappel

House Sponsors
(Rep. Lance Yednock-Natalie A. Manley)


Last Action  View All Actions

DateChamber Action
  7/28/2023SenatePublic Act . . . . . . . . . 103-0394

Statutes Amended In Order of Appearance
105 ILCS 5/8-6from Ch. 122, par. 8-6
105 ILCS 5/34-74from Ch. 122, par. 34-74

Synopsis As Introduced
Amends the School Code. In provisions concerning custody of school funds, provides that each school district and school board must submit a quarterly report to the State Board of Education that contains information regarding (1) the amount of funds that each school district has in its reserves, (2) the amount of funds that each school district has in its investments, and (3) the number of days that each school district has cash on hand. Requires each school district and school board to publish and maintain the information in each quarterly report on its Internet website. Provides that any school district or school board reporting more than 250 days cash on hand shall spend any excess cash on hand funds beyond the 250 days on educational services, including hiring teachers, paraprofessionals, nurses, librarians, social workers, counselors, or psychologists. Effective immediately.

Senate Floor Amendment No. 2
Deletes reference to:
105 ILCS 5/8-6
105 ILCS 5/34-74
Adds reference to:
105 ILCS 5/17-1.10 new

Replaces everything after the enacting clause. Amends the School Code. Provides that, in the 2024-2025 school year and in each subsequent school year, each school board shall calculate the combined, annual average expenditures of its operational funds for the previous 3 fiscal years, as reported in the school district's most recently audited annual financial reports. Provides that the school board shall annually present a written report covering the annual average expenditures of its operational funds for the previous 3 fiscal years at a board meeting. Provides that if a school district's combined cash reserve balance of its operational funds, as most recently reported by the district, exceeds 2.5 times the annual average expenditures of its operational funds for the previous 3 fiscal years, the school board shall adopt and file with the State Board of Education a written operational funds reserve reduction plan to reduce, within 3 years, the district's combined cash reserve balance of its operational funds to an amount at or below 2.5 times the annual average expenditures of its operational funds for the previous 3 fiscal years. Effective immediately.

House Committee Amendment No. 1
Replaces everything after the enacting clause. Reinserts the contents of the engrossed bill with the following changes. Provides that the amendatory language applies only to the school board of a school district that does not receive federal impact aid funding. Provides that the operational funds reserve reduction plan shall be adopted and filed with the State Board of Education by December 31. Provides that the State Board shall post any operational funds reserve reduction plans received on the State Board's Internet website. Effective immediately.

Actions 
DateChamber Action
  2/9/2023SenateFiled with Secretary by Sen. Meg Loughran Cappel
  2/9/2023SenateFirst Reading
  2/9/2023SenateReferred to Assignments
  2/21/2023SenateAssigned to Education
  3/8/2023SenateDo Pass Education; 010-000-000
  3/8/2023SenatePlaced on Calendar Order of 2nd Reading March 9, 2023
  3/21/2023SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. Meg Loughran Cappel
  3/21/2023SenateSenate Floor Amendment No. 1 Referred to Assignments
  3/28/2023SenateSenate Floor Amendment No. 2 Filed with Secretary by Sen. Meg Loughran Cappel
  3/28/2023SenateSenate Floor Amendment No. 2 Referred to Assignments
  3/28/2023SenateSecond Reading
  3/28/2023SenatePlaced on Calendar Order of 3rd Reading March 29, 2023
  3/28/2023SenateSenate Floor Amendment No. 1 Assignments Refers to Education
  3/28/2023SenateSenate Floor Amendment No. 2 Assignments Refers to Education
  3/29/2023SenateSenate Floor Amendment No. 1 Postponed - Education
  3/29/2023SenateSenate Floor Amendment No. 2 Recommend Do Adopt Education; 010-001-002
  3/30/2023SenateRecalled to Second Reading
  3/30/2023SenateSenate Floor Amendment No. 2 Adopted; Loughran-Cappel
  3/30/2023SenatePlaced on Calendar Order of 3rd Reading
  3/30/2023SenateThird Reading - Passed; 055-000-000
  3/30/2023SenateSenate Floor Amendment No. 1 Tabled Pursuant to Rule 5-4(a)
  3/31/2023HouseArrived in House
  3/31/2023HouseChief House Sponsor Rep. Lance Yednock
  4/11/2023HouseFirst Reading
  4/11/2023HouseReferred to Rules Committee
  4/18/2023HouseAssigned to Elementary & Secondary Education: Administration, Licensing & Charter Schools
  4/19/2023HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Lance Yednock
  4/19/2023HouseHouse Committee Amendment No. 1 Referred to Rules Committee
  4/25/2023HouseHouse Committee Amendment No. 1 Rules Refers to Elementary & Secondary Education: Administration, Licensing & Charter Schools
  4/26/2023HouseHouse Committee Amendment No. 1 Adopted in Elementary & Secondary Education: Administration, Licensing & Charter Schools; by Voice Vote
  4/26/2023HouseDo Pass as Amended / Short Debate Elementary & Secondary Education: Administration, Licensing & Charter Schools; 009-000-000
  4/27/2023HousePlaced on Calendar 2nd Reading - Short Debate
  4/27/2023HouseAdded Alternate Chief Co-Sponsor Rep. Natalie A. Manley
  5/4/2023HouseSecond Reading - Short Debate
  5/4/2023HousePlaced on Calendar Order of 3rd Reading - Short Debate
  5/10/2023HouseThird Reading - Short Debate - Passed 113-000-000
  5/11/2023SenateSecretary's Desk - Concurrence House Amendment(s) 1
  5/11/2023SenatePlaced on Calendar Order of Concurrence House Amendment(s) 1 - May 15, 2023
  5/16/2023SenateHouse Committee Amendment No. 1 Motion to Concur Filed with Secretary Sen. Meg Loughran Cappel
  5/16/2023SenateHouse Committee Amendment No. 1 Motion to Concur Referred to Assignments
  5/16/2023SenateHouse Committee Amendment No. 1 Motion to Concur Assignments Referred to Education
  5/16/2023SenateHouse Committee Amendment No. 1 Motion To Concur Recommended Do Adopt Education; 012-000-000
  5/19/2023SenateHouse Committee Amendment No. 1 Senate Concurs 057-000-000
  5/19/2023SenateSenate Concurs
  5/19/2023SenatePassed Both Houses
  6/16/2023SenateSent to the Governor
  7/28/2023SenateGovernor Approved
  7/28/2023SenateEffective Date July 28, 2023
  7/28/2023SenatePublic Act . . . . . . . . . 103-0394

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