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(105 ILCS 5/18-11) (from Ch. 122, par. 18-11)
Sec. 18-11. Payment of claims.
(a) With respect to payments for each fiscal year before fiscal year 2009, except payments for the period of June 1982 through July 1983 and payments for fiscal year 1994, as soon as may
be after the 10th and 20th days of each of the months of August through the
following July, if moneys are available in the common school fund
in the State treasury for payments under Sections 18-8.05 through 18-9, the State
Comptroller shall draw his warrants upon the State Treasurer as directed by
the State Board of Education pursuant to Section 2-3.17b and
in accordance with the transfers from the General Revenue Fund to the
Common School Fund as specified in Section 8a of the State Finance Act.
Each such semimonthly warrant shall
be in an amount equal to 1/24 of the total amount to be distributed to school
districts for the fiscal year.
The amount of payments made in July of each year shall be
considered as payments for claims covering the school year that commenced
during the immediately preceding calendar year.
If the payments provided for under Sections 18-8.05 through 18-9 have been
assigned as security for State aid anticipation certificates pursuant to
Section 18-18, the State Board of Education shall pay the appropriate amount of
the payment, as specified in the notification required by Section 18-18,
directly to the assignee.
(a-5) With respect to payments made under Sections 18-8.05 through 18-10 of this Code for fiscal year 2009 and each fiscal year thereafter, as soon as may be after the 10th and 20th days of each of the months of August through the following June, if moneys are available in the Common School Fund in the State treasury for payments under Sections 18-8.05 through 18-10 of this Code, the State Comptroller shall draw his or her warrants upon the State Treasurer as directed by the State Board of Education pursuant to Section 2-3.17b of this Code and in accordance with the transfers from the General Revenue Fund to the Common School Fund as specified in Section 8a of the State Finance Act. Each such semimonthly warrant shall be in an amount equal to 1/22 of the total amount to be distributed to school districts for the fiscal year. If the payments provided for under Sections 18-8.05 through 18-10 of this Code have been assigned as security for State aid anticipation certificates pursuant to Section 18-18 of this Code, then the State Board of Education shall pay the appropriate amount of the payment, as specified in the notification required by Section 18-18 of this Code, directly to the assignee.
(b) (Blank).
(c) (Blank).
(Source: P.A. 94-1105, eff. 6-1-07; 95-496, eff. 8-28-07; 95-835, eff. 8-15-08.) |
