State of Illinois
92nd General Assembly
Legislation

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92_HB5343eng

 
HB5343 Engrossed                               LRB9213106NTpk

 1        AN ACT relating to education.

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

 4        Section 5.   The  School  Code  is  amended  by  changing
 5    Section 17-2A as follows:

 6        (105 ILCS 5/17-2A) (from Ch. 122, par. 17-2A)
 7        Sec. 17-2A.  Interfund Transfers. The school board of any
 8    district having a population of less than 500,000 inhabitants
 9    may,  by  proper resolution following a public hearing set by
10    the school board or the president of the school  board  (that
11    is  preceded  (i)  by  at least one published notice over the
12    name of the clerk or secretary of  the  board,  occurring  at
13    least  7 days and not more than 30 days prior to the hearing,
14    in a newspaper  of  general  circulation  within  the  school
15    district and (ii) by posted notice over the name of the clerk
16    or  secretary  of  the  board,  at  least 48 hours before the
17    hearing, at the principal office of the school  board  or  at
18    the  building  where the hearing is to be held if a principal
19    office does not exist, with both notices  setting  forth  the
20    time,  date,  place,  and  subject  matter  of  the hearing),
21    transfer  money  from  (1)  the  Educational  Fund   to   the
22    Operations  and  Maintenance Fund or the Transportation Fund,
23    (2) the Operations and Maintenance Fund  to  the  Educational
24    Fund  or  the  Transportation Fund, or (3) the Transportation
25    Fund  to  the  Educational  Fund  or   the   Operations   and
26    Maintenance  Fund  of said district an amount of money not to
27    exceed 20% of the tax actually  received  in  the  transferor
28    Fund  for  the  year  previous to the transfer, provided such
29    transfer is made solely for the purpose of meeting  one-time,
30    non-recurring   expenses.    Any  other  permanent  interfund
31    transfers   authorized   by   any   provision   or   judicial
 
HB5343 Engrossed            -2-                LRB9213106NTpk
 1    interpretation of this Code for which the transferee Fund  is
 2    not  precisely and specifically set forth in the provision of
 3    this Code authorizing such transfer shall be made to the Fund
 4    of the school district  most  in  need  of  the  funds  being
 5    transferred, as determined by resolution of the school board.
 6    (Source: P.A. 92-127, eff. 1-1-02.)

 7        Section  99.  Effective date.  This Act takes effect upon
 8    becoming law.

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