Illinois General Assembly - Bill Status for HB1043

Amends the School Code. Includes among the purposes for which moneys in the School District Emergency Financial Assistance Fund may be appropriated to the Illinois Finance Authority and the State Board of Education those purposes authorized under the provision concerning State interventions. Provides that the appropriation may be allocated and expended by the State Board for contractual services to provide technical assistance or consultation to school districts to assess their financial condition and to Financial Oversight Panels that petition for emergency financial assistance grants and as necessary to fulfill the goals and obligations of an intergovernmental agreement between a school district and the State Board of Education for management oversight or an independent authority under the provision concerning State interventions (instead of just to provide technical assistance or consultation to school districts to assess their financial condition and to Financial Oversight Panels that petition for emergency financial assistance grants). Makes corresponding changes. Provides that an emergency financial assistance grant shall not exceed $2,000 (instead of $1,000) times the number of certain pupils. In the provision concerning State interventions, includes among the possible actions that the State Board of Education shall take, if after 3 years following its placement on academic watch status a school district or school remains on academic watch status, entering into an intergovernmental agreement, pursuant to the Intergovernmental Cooperation Act and the Constitution of the State of Illinois, with the school board for the school district or school for management oversight of the planning and operations of the school district or school by the State Board of Education. Makes other changes. Effective immediately.

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