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SB1854 Engrossed |
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LRB094 05838 AMC 35892 b |
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| AN ACT concerning education.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The School Code is amended by changing Section |
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| 20-8 as follows:
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| (105 ILCS 5/20-8) (from Ch. 122, par. 20-8)
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| Sec. 20-8. Abatement or abolishment
Abolishment of working |
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| cash fund. Any school district may abate or abolish
its working |
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| cash fund, upon the adoption of a resolution so providing, and
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| direct the transfer of any balance in such fund to the |
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| educational fund at the
close of the then current school year. |
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| Any outstanding loans to the
transportation; operations and |
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| maintenance; or fire prevention and safety fund
shall be paid |
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| or become payable to the educational fund at the close of the
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| then current school year. Thereafter, all outstanding taxes of |
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| such school
district levied pursuant to Section 20-3 shall be |
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| collected and paid into the
educational fund.
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| Any balance in any working cash fund that is created in any |
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| school
district on or after the effective date of this |
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| amendatory Act of 1991
(including all outstanding loans from |
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| any such working cash fund to the
educational, transportation, |
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| operations and maintenance, or fire prevention and
safety fund |
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| of the district and all outstanding taxes levied by the |
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| district
under Section 20-3 to provide moneys for any such |
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| working cash fund) may, when
such working cash fund is abated |
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| or abolished, be used and applied for the purpose of
reducing, |
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| by the balance in that working cash fund at the close of the |
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| school
year in which the fund so created is abated or
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| abolished, the amount of the taxes that
the school board of the |
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| school district otherwise would be authorized or
required to |
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| levy for educational purposes for the immediately succeeding |
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| school
year.
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