SB1933 98TH GENERAL ASSEMBLY

LRB098 08502 NHT 38613 b

98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014
SB1933

Introduced 2/15/2013, by Sen. Tim Bivins

SYNOPSIS AS INTRODUCED:

30 ILCS 105/5.826 new
30 ILCS 105/6z-78
105 ILCS 5/2-3.157 new

Amends the State Finance Act and the School Code. Requires the State Board of Education to create the School Security Enhancement Matching Grant Program to award grants to school districts that apply to help pay for physical security enhancements in school buildings. Provides that the State Board shall award grants to school districts in the form of a matching grant, whereby the grant would cover 75% of the cost of the enhancements and school district funds would cover the remaining 25% of the cost of the enhancements. Creates the School Security Enhancement Matching Fund as a special fund in the State treasury, with all money in the Fund to be used by the State Board for the School Security Enhancement Matching Grant Program. Provides that, after other transfers have been made, on the first day of the month, the State Treasurer and State Comptroller shall transfer $4.2 million from the Capital Projects Fund to the School Security Enhancement Matching Fund.

FISCAL NOTE ACT MAY APPLY

A BILL FOR

AN ACT concerning education.

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

Section 5. The State Finance Act is amended by adding Section 5.826 and by changing Section 6z-78 as follows:

(30 ILCS 105/5.826 new)

Sec. 5.826. The School Security Enhancement Matching Fund.

(30 ILCS 105/6z-78)

Sec. 6z-78. Capital Projects Fund; bonded indebtedness; transfers. Money in the Capital Projects Fund shall, if and when the State of Illinois incurs any bonded indebtedness using the bond authorizations enacted in Public Act 96-36, Public Act 96-1554, and this amendatory Act of the 97th General Assembly, be set aside and used for the purpose of paying and discharging annually the principal and interest on that bonded indebtedness then due and payable. Money in the Capital Projects Fund may also be used for the School Security Enhancement Matching Grant Program under Section 2-3.157 of the School Code through transfers to the School Security Enhancement Matching Fund under subsection (d) of this Section.

In addition to other transfers to the General Obligation Bond Retirement and Interest Fund made pursuant to Section 15 of the General Obligation Bond Act, upon each delivery of general obligation bonds using bond authorizations enacted in Public Act 96-36, Public Act 96-1554, and this amendatory Act of the 97th General Assembly the State Comptroller shall compute and certify to the State Treasurer the total amount of principal of, interest on, and premium, if any, on such bonds during the then current and each succeeding fiscal year. With respect to the interest payable on variable rate bonds, such certifications shall be calculated at the maximum rate of interest that may be payable during the fiscal year, after taking into account any credits permitted in the related indenture or other instrument against the amount of such interest required to be appropriated for the period.

(a) Except as provided for in subsection (b), on or before the last day of each month, the State Treasurer and State Comptroller shall transfer from the Capital Projects Fund to the General Obligation Bond Retirement and Interest Fund an amount sufficient to pay the aggregate of the principal of, interest on, and premium, if any, on the bonds payable on their next payment date, divided by the number of monthly transfers occurring between the last previous payment date (or the delivery date if no payment date has yet occurred) and the next succeeding payment date. Interest payable on variable rate bonds shall be calculated at the maximum rate of interest that may be payable for the relevant period, after taking into account any credits permitted in the related indenture or other instrument against the amount of such interest required to be appropriated for that period. Interest for which moneys have already been deposited into the capitalized interest account within the General Obligation Bond Retirement and Interest Fund shall not be included in the calculation of the amounts to be transferred under this subsection.

(b) On or before the last day of each month, the State Treasurer and State Comptroller shall transfer from the Capital Projects Fund to the General Obligation Bond Retirement and Interest Fund an amount sufficient to pay the aggregate of the principal of, interest on, and premium, if any, on the bonds issued prior to January 1, 2012 pursuant to Section 4(d) of the General Obligation Bond Act payable on their next payment date, divided by the number of monthly transfers occurring between the last previous payment date (or the delivery date if no payment date has yet occurred) and the next succeeding payment date. If the available balance in the Capital Projects Fund is not sufficient for the transfer required in this subsection, the State Treasurer and State Comptroller shall transfer the difference from the Road Fund to the General Obligation Bond Retirement and Interest Fund; except that such Road Fund transfers shall constitute a debt of the Capital Projects Fund which shall be repaid according to subsection (c). Interest payable on variable rate bonds shall be calculated at the maximum rate of interest that may be payable for the relevant period, after taking into account any credits permitted in the related indenture or other instrument against the amount of such interest required to be appropriated for that period. Interest for which moneys have already been deposited into the capitalized interest account within the General Obligation Bond Retirement and Interest Fund shall not be included in the calculation of the amounts to be transferred under this subsection.

(c) On the first day of any month when the Capital Projects Fund is carrying a debt to the Road Fund due to the provisions of subsection (b), the State Treasurer and State Comptroller shall transfer from the Capital Projects Fund to the Road Fund an amount sufficient to discharge that debt. These transfers to the Road Fund shall continue until the Capital Projects Fund has repaid to the Road Fund all transfers made from the Road Fund pursuant to subsection (b). Notwithstanding any other law to the contrary, transfers to the Road Fund from the Capital Projects Fund shall be made prior to any other expenditures or transfers out of the Capital Projects Fund.

(d) After transfers from the Capital Projects Fund under subsections (a) and (b) have been made, on the first day of the month, the State Treasurer and State Comptroller shall transfer $4.2 million from the Capital Projects Fund to the School Security Enhancement Matching Fund. If, in any given month, the full amount is not able to be transferred, then the amount not able to be transferred shall be added to the amount to be transferred the following month.

(Source: P.A. 96-36, eff. 7-13-09; 96-820, eff. 11-18-09; 96-1554, eff. 3-18-11; 97-771, eff. 7-10-12.)

Section 10. The School Code is amended by adding Section 2-3.157 as follows:

(105 ILCS 5/2-3.157 new)

Sec. 2-3.157. School Security Enhancement Matching Grant Program.

(a) The State Board of Education shall create the School Security Enhancement Matching Grant Program to award grants to school districts that apply to help pay for physical security enhancements in school buildings. Enhancements for which grant funds may be used include without limitation physical or structural changes to buildings, windows, doors, video surveillance equipment, magnetometers, alarm systems, sound warning systems, communications equipment, or any security equipment that is deemed necessary by a school board to enhance the safety and security of the district's schools, the district's students, and the district's employees.

(b) The State Board of Education shall award grants to school districts in the form of a matching grant, whereby the grant would cover 75% of the cost of the enhancements and school district funds would cover the remaining 25% of the cost of the enhancements.

(c) The School Security Enhancement Matching Fund is created as a special fund in the State treasury. All money in the Fund shall be used, subject to appropriation, by the State Board of Education for the School Security Enhancement Matching Grant Program.

(d) The State Board of Education may adopt any rules it deems necessary to carry out its responsibilities under this Section.