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Public Act 92-0722
HB5343 Enrolled LRB9213106NTpk
AN ACT relating to 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 an amount of money not to
exceed 20% of the tax actually received in the transferor
Fund for the year previous to the transfer, provided such
transfer is made solely for the purpose of meeting one-time,
non-recurring expenses. 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. 92-127, eff. 1-1-02.)
Section 99. Effective date. This Act takes effect upon
becoming law.
Passed in the General Assembly May 15, 2002.
Approved July 25, 2002.
Effective July 25, 2002.
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