Rep. Lawrence Walsh, Jr.

Filed: 11/22/2016

 

 


 

 


 
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1
AMENDMENT TO SENATE BILL 514

2    AMENDMENT NO. ______. Amend Senate Bill 514 by replacing
3everything after the enacting clause with the following:
 
4    "Section 5. The School Code is amended by changing Section
517-2A as follows:
 
6    (105 ILCS 5/17-2A)  (from Ch. 122, par. 17-2A)
7    Sec. 17-2A. Interfund transfers.
8    (a) The school board of any district having a population of
9less than 500,000 inhabitants may, by proper resolution
10following a public hearing set by the school board or the
11president of the school board (that is preceded (i) by at least
12one published notice over the name of the clerk or secretary of
13the board, occurring at least 7 days and not more than 30 days
14prior to the hearing, in a newspaper of general circulation
15within the school district and (ii) by posted notice over the
16name of the clerk or secretary of the board, at least 48 hours

 

 

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1before the hearing, at the principal office of the school board
2or at the building where the hearing is to be held if a
3principal office does not exist, with both notices setting
4forth the time, date, place, and subject matter of the
5hearing), transfer money from (1) the Educational Fund to the
6Operations and Maintenance Fund or the Transportation Fund, (2)
7the Operations and Maintenance Fund to the Educational Fund or
8the Transportation Fund, or (3) the Transportation Fund to the
9Educational Fund or the Operations and Maintenance Fund of said
10district, provided that, except during the period from July 1,
112003 through June 30, 2019, such transfer is made solely for
12the purpose of meeting one-time, non-recurring expenses.
13Except during the period from July 1, 2003 through June 30,
142019 and except as otherwise provided in subsection (b) of this
15Section, any other permanent interfund transfers authorized by
16any provision or judicial interpretation of this Code for which
17the transferee fund is not precisely and specifically set forth
18in the provision of this Code authorizing such transfer shall
19be made to the fund of the school district most in need of the
20funds being transferred, as determined by resolution of the
21school board.
22     (b) Notwithstanding subsection (a) of this Section or any
23other provision of this Code to the contrary, the school board
24of any school district (i) that is subject to the Property Tax
25Extension Limitation Law, (ii) that has a population of less
26than 500,000 inhabitants, (iii) that is levying at its maximum

 

 

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1tax rate, (iv) whose total equalized assessed valuation has
2declined 20% in the prior 2 years, (v) in which 80% or more of
3its students receive free or reduced-price lunch, and (vi) that
4had an equalized assessed valuation of less than $207 million
5but more than $203 million in the 2011 levy year may annually,
6until July 1, 2016, transfer money from any fund of the
7district, other than the Illinois Municipal Retirement Fund and
8the Bonds and Interest Fund, to the educational fund, the
9operations and maintenance fund, or the transportation fund of
10the district by proper resolution following a public hearing
11set by the school board or the president of the school board,
12with notice as provided in subsection (a) of this Section, so
13long as the district meets the qualifications set forth in this
14subsection (b) on the effective date of this amendatory Act of
15the 98th General Assembly even if the district does not meet
16those qualifications at the time a given transfer is made.
17    (c) Notwithstanding subsection (a) of this Section or any
18other provision of this Code to the contrary, the school board
19of any school district (i) that is subject to the Property Tax
20Extension Limitation Law, (ii) that is an elementary district
21servicing students in grades K through 8, (iii) whose territory
22is in one county, (iv) that is eligible for Section 7002
23Federal Impact Aid, and (v) that has no more than $81,000 in
24funds remaining from refinancing bonds that were refinanced a
25minimum of 5 years prior to the effective date of this
26amendatory Act of the 99th General Assembly may make a one-time

 

 

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1transfer of the funds remaining from the refinancing bonds to
2the Operations and Maintenance Fund of the district by proper
3resolution following a public hearing set by the school board
4or the president of the school board, with notice as provided
5in subsection (a) of this Section, so long as the district
6meets the qualifications set forth in this subsection (c) on
7the effective date of this amendatory Act of the 99th General
8Assembly.
9(Source: P.A. 98-26, eff. 6-21-13; 98-131, eff. 1-1-14; 99-713,
10eff. 8-5-16.)
 
11    Section 99. Effective date. This Act takes effect upon
12becoming law.".