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 Bill Status of SB1605  100th General Assembly


Short Description:  SCH CD-INTEREST EARNINGS

Senate Sponsors
Sen. Christine Radogno

House Sponsors
(Rep. Jim Durkin )

Last Action
DateChamber Action
  1/10/2017SenateSession Sine Die

Statutes Amended In Order of Appearance
105 ILCS 5/10-22.14from Ch. 122, par. 10-22.14


Synopsis As Introduced
Amends the School Code. Allows any high school district whose territory is in 2 counties and that is eligible for Section 8002 Federal Impact Aid to make a one-time declaration as to interest income not previously declared from 1998 through 2011 in the debt service fund, declaring said moneys as interest earnings on or before June 30, 2016. Requires any such earnings income to thereafter be considered interest earnings. Effective immediately.

Senate Committee Amendment No. 1
Deletes reference to:
105 ILCS 5/10-22.14
Adds reference to:
105 ILCS 5/10-22.44from Ch. 122, par. 10-22.44

Replaces everything after the enacting clause. Amends the School Code. In provisions providing for the transfer of interest to the fund that is most in need, allows any high school district whose territory is in 2 counties and that is eligible for Section 8002 Federal Impact Aid to make a one-time declaration as to interest income not previously declared from 1998 through 2011 in the debt service fund, declaring said moneys as interest earnings on or before June 30, 2016. Requires any such earnings income to thereafter be considered interest earnings. Effective immediately.

Actions 
DateChamber Action
  2/20/2015SenateFiled with Secretary by Sen. Christine Radogno
  2/20/2015SenateFirst Reading
  2/20/2015SenateReferred to Assignments
  3/3/2015SenateAssigned to Executive
  3/10/2015SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Christine Radogno
  3/10/2015SenateSenate Committee Amendment No. 1 Referred to Assignments
  3/11/2015SenateSenate Committee Amendment No. 1 Assignments Refers to Executive
  3/11/2015SenateSenate Committee Amendment No. 1 Adopted
  3/12/2015SenateDo Pass as Amended Executive; 012-000-000
  3/12/2015SenatePlaced on Calendar Order of 2nd Reading March 17, 2015
  3/24/2015SenateSecond Reading
  3/24/2015SenatePlaced on Calendar Order of 3rd Reading March 25, 2015
  4/15/2015SenateThird Reading - Passed; 055-000-000
  4/15/2015HouseArrived in House
  4/16/2015HouseChief House Sponsor Rep. Jim Durkin
  4/16/2015HouseFirst Reading
  4/16/2015HouseReferred to Rules Committee
  1/10/2017SenateSession Sine Die

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