Elementary & Secondary Education Committee
Filed: 3/20/2007
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1 | AMENDMENT TO HOUSE BILL 877
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2 | AMENDMENT NO. ______. Amend House Bill 877 by replacing | ||||||
3 | everything after the enacting clause with the following:
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4 | "Section 5. The School Construction Law is amended by | ||||||
5 | changing Section 5-35 as follows:
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6 | (105 ILCS 230/5-35)
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7 | Sec. 5-35. School construction project grant amounts; | ||||||
8 | permitted
use; prohibited use.
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9 | (a) The product of the district's grant index and the
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10 | recognized project cost, as determined by the Capital | ||||||
11 | Development Board, for an
approved school construction project | ||||||
12 | shall equal the amount of the grant the
Capital Development | ||||||
13 | Board shall provide to the eligible district. The grant
index | ||||||
14 | shall not be used in cases where the General Assembly and the | ||||||
15 | Governor
approve appropriations designated for specifically | ||||||
16 | identified school district
construction projects.
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1 | (b) In each fiscal year in which school construction | ||||||
2 | project grants are
awarded, 20% of the total amount awarded | ||||||
3 | statewide shall be awarded to a school
district with a | ||||||
4 | population exceeding 500,000, provided such district complies
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5 | with the provisions of this Article.
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6 | In addition to the uses otherwise authorized by this Law, | ||||||
7 | any school
district with a population exceeding 500,000 is | ||||||
8 | authorized to use any or all
of the school construction project | ||||||
9 | grants (i) to pay debt service, as defined
in the Local | ||||||
10 | Government Debt Reform Act, on bonds, as defined in the Local
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11 | Government Debt Reform Act, issued to finance one or more | ||||||
12 | school construction
projects and (ii) to the extent that any | ||||||
13 | such bond is a lease or other
installment or financing contract | ||||||
14 | between the school district and a public
building commission | ||||||
15 | that has issued bonds to finance one or more qualifying
school | ||||||
16 | construction projects, to make lease payments under the lease.
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17 | (c) No portion of a school construction project grant | ||||||
18 | awarded by the
Capital Development Board shall be used by a | ||||||
19 | school district for any
on-going operational costs.
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20 | (d) A grant index must not be recalculated when a school | ||||||
21 | district has received its entitlement, but the State has failed | ||||||
22 | to appropriate sufficient funding under this Section. This | ||||||
23 | subsection (d) applies to those entitlements obtained in fiscal | ||||||
24 | year 2002 or thereafter.
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25 | (Source: P.A. 90-548, eff. 1-1-98; 91-38, eff. 6-15-99.)
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1 | Section 99. Effective date. This Act takes effect upon | ||||||
2 | becoming law.".
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