97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
SB0650

 

Introduced 2/8/2011, by Sen. John J. Cullerton

 

SYNOPSIS AS INTRODUCED:
 
105 ILCS 5/20-1  from Ch. 122, par. 20-1

    Amends the School Code. Makes a technical change in a Section concerning working cash funds.


LRB097 04387 NHT 44426 b

 

 

A BILL FOR

 

SB0650LRB097 04387 NHT 44426 b

1    AN ACT concerning education.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The School Code is amended by changing Section
520-1 as follows:
 
6    (105 ILCS 5/20-1)  (from Ch. 122, par. 20-1)
7    Sec. 20-1. Authority to create working cash fund. In each
8school district, whether organized under general law or special
9charter, having a population of less than 500,000 inhabitants,
10a fund to be known as a "Working Cash Fund" may be created and
11and maintained consistent with the limitations of this Article,
12for the purpose of enabling the district to have in its
13treasury at all time sufficient money to meet demands thereon
14for expenditures for corporate purposes.
15(Source: P.A. 96-1277, eff. 7-26-10.)