Illinois General Assembly - Bill Status for HB2492

Amends the Property Tax Code. In provisions concerning the Property Tax Extension Limitation Law, provides that "aggregate extension" excludes special purpose extensions made for the repayment of bonds or certificates issued to finance guaranteed energy savings contracts under the School Code. Amends the School Code. Provides that a school district may issue bonds or certificates to finance guaranteed energy savings contracts and any bonds or certificates so issued shall not be considered indebtedness for purposes of any statutory limitation and may be issued in an amount or amounts, including existing indebtedness, in excess of any heretofore or hereafter imposed statutory limitation as to indebtedness. In the Article concerning school energy conservation and saving measures, removes the requirement that the Section of the School Code concerning a school board's power to build or purchase a building for school classroom or instructional purposes upon the approval of a majority of the voters upon the proposition at a referendum applies to the Article. Allows the school board of any school district having a population of less than 500,000 inhabitants to incur indebtedness and issue bonds in an amount not exceeding the aggregate cost of all expenditures reasonably expected to be incurred pursuant to a guaranteed energy savings contract.

Replaces everything after the enacting clause. Reinserts the contents of the introduced bill with the following changes. Removes the provisions amending the Property Tax Code. Removes the tax levy provision in the School Energy Conservation and Saving Measures Article of the School Code.

In the provisions concerning indebtedness and bonds under the School Energy Conservation and Saving Measures Article of the School Code, provides that all contracts paid by bonds shall include a requirement that the qualified provider (i) enter into a project labor agreement with the applicable building and construction trades council and (ii) provide a plan to comply with the utilization goals for business enterprises established in the Business Enterprise for Minorities, Women, and Persons with Disabilities Act.

×