SB0650 97TH GENERAL ASSEMBLY

LRB097 04387 NHT 44426 b

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.

A BILL FOR

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 20-1 as follows:

(105 ILCS 5/20-1) (from Ch. 122, par. 20-1)

Sec. 20-1. Authority to create working cash fund. In each school district, whether organized under general law or special charter, having a population of less than 500,000 inhabitants, a fund to be known as a "Working Cash Fund" may be created and and maintained consistent with the limitations of this Article, for the purpose of enabling the district to have in its treasury at all time sufficient money to meet demands thereon for expenditures for corporate purposes.

(Source: P.A. 96-1277, eff. 7-26-10.)