SCHOOL DISTRICT VALIDATION ACT
Synopsis of Bill as introduced:
Amends the Property Tax Code. Makes a technical change in a
Section concerning taxing districts.
SENATE AMENDMENT NO. 1.
Deletes reference to:
35 ILCS 300/1-150
Adds reference to:
Deletes everything after the enacting clause. Creates the School
District Validation (2001) Act. Provides that all taxes levied before
the effective date of this amendatory Act by any school district for
the purpose of providing funds for the payment of the principal of and
interest on bonds issued by that school district for the purpose of
implementing equitable remedies ordered by a federal court in
litigation involving school desegregation and refunding bonds issued
before the effective date of this amendatory Act to refund those bonds
are hereby validated, ratified, and confirmed as lawful, valid taxes
lawfully levied and fully authorized to be extended for collection
against all taxable property in the school district without limitation
as to rate or amount, notwithstanding that this levy and extension of
unlimited ad valorem taxes was not authorized in accordance with law.
Makes similar provision for bonds and refunding bonds issued by the
school district for the purpose of funding the costs of the
court-ordered equitable remedies and for actions taken by the school
district and its board of education to authorize and issue the bonds
and refunding bonds and to levy and extend the taxes for the payment
of the principal of and interest on the bonds and refunding bonds.
Last action on Bill: PUBLIC ACT.............................. 92-0381
Last action date: AUG-16-2001
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 1
END OF INQUIRY
Full Text Bill Status