Public Act 095-0053
 
HB0357 Enrolled LRB095 03758 NHT 23787 b

    AN ACT concerning education.
 
    Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
 
    Section 5. The School Code is amended by changing Section
17-2A as follows:
 
    (105 ILCS 5/17-2A)  (from Ch. 122, par. 17-2A)
    Sec. 17-2A. Interfund Transfers. The school board of any
district having a population of less than 500,000 inhabitants
may, by proper resolution following a public hearing set by the
school board or the president of the school board (that is
preceded (i) by at least one published notice over the name of
the clerk or secretary of the board, occurring at least 7 days
and not more than 30 days prior to the hearing, in a newspaper
of general circulation within the school district and (ii) by
posted notice over the name of the clerk or secretary of the
board, at least 48 hours before the hearing, at the principal
office of the school board or at the building where the hearing
is to be held if a principal office does not exist, with both
notices setting forth the time, date, place, and subject matter
of the hearing), transfer money from (1) the Educational Fund
to the Operations and Maintenance Fund or the Transportation
Fund, (2) the Operations and Maintenance Fund to the
Educational Fund or the Transportation Fund, or (3) the
Transportation Fund to the Educational Fund or the Operations
and Maintenance Fund of said district, provided that, except
during the period from July 1, 2003 through June 30, 2010 2007,
such transfer is made solely for the purpose of meeting
one-time, non-recurring expenses. Except during the period
from July 1, 2003 through June 30, 2010 2007, any other
permanent interfund transfers authorized by any provision or
judicial interpretation of this Code for which the transferee
fund is not precisely and specifically set forth in the
provision of this Code authorizing such transfer shall be made
to the fund of the school district most in need of the funds
being transferred, as determined by resolution of the school
board.
(Source: P.A. 93-393, eff. 7-28-03; 94-176, eff. 7-12-05.)
 
    Section 99. Effective date. This Act takes effect upon
becoming law.