103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
SB0459
 
Introduced 2/2/2023, by Sen. Don Harmon
 
SYNOPSIS AS INTRODUCED:
 


  
105 ILCS 5/1E-5
    Amends the School Code. Makes a technical change in a Section concerning downstate school finance authorities.



LRB103 02910 RJT 47916 b

 
 
A BILL FOR
 


SB0459LRB103 02910 RJT 47916 b



1    AN ACT concerning education.

 
2    Be it enacted by the People of the State of Illinois,
 
3represented in the General Assembly:

 
4    Section 5. The School Code is amended by changing Section 
51E-5 as follows:
 



6    (105 ILCS 5/1E-5)



7    (This Section scheduled to be repealed in accordance with 
8105 ILCS 5/1E-165)
9    Sec. 1E-5. Findings; purpose; intent. 

10    (a) The
The General Assembly finds all of the following:

11        (1) A fundamental goal of the people of this State, as

12    expressed in Section 1 of Article X of the Illinois 
13    Constitution, is
the educational development of all 
14    persons to the limits of their
capacities. When a board of 
15    education faces financial difficulties,
continued 
16    operation of the public school system is threatened.


17        (2) A sound financial structure is essential to the 
18    continued
operation of any school system. It is vital to 
19    commercial,
educational, and cultural interests that 
20    public schools remain in
operation. To achieve that goal, 
21    public school systems must have
effective access to the 
22    private market to borrow short and long term
funds.


23        (3) To promote the financial integrity of districts, 
 
 
SB0459- 2 -LRB103 02910 RJT 47916 b

1    as defined in
this Article, it is
necessary to provide for 
2    the creation of school finance authorities
with the powers 
3    necessary to promote sound financial management and
to 
4    ensure the continued operation of the public schools.

5    (b) It is the purpose of this Article to provide a secure 
6financial
basis for the continued operation of public schools. 
7The
intention of the General Assembly, in creating this 
8Article, is to
establish procedures, provide powers, and 
9impose restrictions to ensure
the financial and educational 
10integrity of the public schools, while
leaving principal 
11responsibility for the educational policies of
public schools 
12to the boards of education within the State, consistent
with 
13the requirements for satisfying the public policy and purpose

14set forth in this Article.

15(Source: P.A. 92-547, eff. 6-13-02.)