093_SB1368

 
                                     LRB093 07825 NHT 08014 b

 1        AN ACT regarding schools.

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

 4        Section  5.   The  School  Code  is  amended  by changing
 5    Section 34A-411 as follows:

 6        (105 ILCS 5/34A-411) (from Ch. 122, par. 34A-411)
 7        Sec.   34A-411.    Termination   and   reinstatement   of
 8    Authority's power under this Article.
 9        (a)  The  powers  and  responsibilities  granted  to   or
10    imposed  upon  the  Authority  and  the  Board under Sections
11    34A-401  through  34A-410  of  this  Article  shall  not   be
12    exercised  after  the Authority has certified to the Governor
13    and the Mayor that  the  Board  has  completed  6  successive
14    Fiscal  Years  of balanced Budgets pursuant to the accounting
15    and   other   principles   prescribed   by   the   Authority.
16    Notwithstanding the  foregoing  sentence,  Sections  34A-402,
17    34A-404,  34A-405,  and  34A-408 shall continue in full force
18    and effect after such certification of the  completion  of  6
19    successive Fiscal Years of balanced Budgets.
20        (b)  Upon    determination    by    the   Authority   and
21    certification of the Authority to the Governor and the  Mayor
22    that  the  Board  has  failed  to  adopt a balanced Budget by
23    August 15th immediately preceding the  commencement  of  each
24    Fiscal  Year  or  failed to achieve a balanced Budget for two
25    successive Fiscal Years, subsequent to a time  in  which  the
26    powers  and  responsibilities  of the Authority and the Board
27    are not exercised pursuant to paragraph (a) of this  Section,
28    the  Authority  and  Board shall resume the exercise of their
29    respective  powers  and  responsibilities  pursuant  to  each
30    Section of this Article.
31        (c)  Notwithstanding the provisions  of  subsections  (a)
 
                            -2-      LRB093 07825 NHT 08014 b
 1    and  (b) of this Section or any other provision of law to the
 2    contrary, the  powers  and  responsibilities  granted  to  or
 3    imposed  upon  the  Authority  and  the  Board under Sections
 4    34A-401 through 34A-410 and  Section  34A-606  are  suspended
 5    until December 31, 2010 July 1, 2004.
 6    (Source: P.A. 89-15, eff. 5-30-95; 90-757, eff. 8-14-98.)

 7        Section  99.  Effective date.  This Act takes effect upon
 8    becoming law.