Public Act 094-0690
 
HB3095 Enrolled LRB094 07212 NHT 37367 b

    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
17-2.2d as follows:
 
    (105 ILCS 5/17-2.2d)
    Sec. 17-2.2d. Special taxing and bonding for temporary
relocation expense and emergency replacement purposes.
    (a) In addition to any other taxes and notwithstanding any
limitation imposed by the Property Tax Extension Limitation Law
or any other limitations specified in this Code or any other
law, the school board of any district subject to this Code
having a population of less than 500,000 inhabitants that meets
the criteria specified in subsection (c) of this Section, may,
by proper resolution, levy an annual tax not to exceed 0.05%
upon the value of the taxable property as equalized or assessed
by the Department of Revenue for a period not to exceed 7 years
for the purpose of providing for the repayment of moneys paid
to the district distributed for temporary relocation expenses
of the district pursuant to Section 2-3.77 of this Code.
    (b) The school board of any district that meets the
criteria specified in subsection (c) of this Section may
repair, reconstruct, or replace a condemned building without
seeking referendum approval for the repair, reconstruction, or
replacement.
    (c) In order for this Section to apply, the school district
must (i) be located in a county subject to the Property Tax
Extension Limitation Law, (ii) have had a total enrollment of
at least 1,075 students as shown on the 2003 Illinois State
Report Card, and (ii) (iii) have had a school building
condemned within 10 years after the building's initial
occupancy after January 1, 2004 and prior to June 30, 2004.
    (d) Notwithstanding any limitation imposed by the Property
Tax Extension Limitation Law or any other limitations specified
in this Code or any other law, the school board of any district
that meets the criteria specified in subsection (c) of this
Section, may, by proper resolution, issue bonds, without
referendum, in an amount sufficient to finance the total cost
of repair, reconstruction, or replacement of the condemned
building, including the costs of providing for the payment of
any obligations heretofore or hereafter entered into for such
purposes. Any premium and all interest earnings on the proceeds
of the bonds so issued shall be used for the purposes for which
the bonds were issued. The proceeds of any bonds issued under
this Section shall be deposited and accounted for separately
within the district's site and construction/capital
improvements fund. The recording officer of the board shall
file in the office of the county clerk of each county in which
a portion of the district is situated a certified copy of the
resolution providing for the issuance of the bonds and levy of
a tax without limit as to rate or amount to pay the bonds.
Bonds issued under this Section and any bonds issued to refund
those these bonds are not subject to any debt limitation
imposed by this Code or any other law.
    (e) The school board, as an express condition to receiving
a temporary relocation loan under Section 2-3.77 of this Code,
must agree to levy the tax provided in this Section at the
maximum rate permitted and to pay to the State of Illinois for
deposit into the Temporary Relocation Expenses Revolving Grant
Fund (i) all proceeds of the tax attributable to the first year
and succeeding years for which the tax is levied after moneys
appropriated for purposes of Section 2-3.77 have been
distributed to the school district and (ii) all insurance
proceeds that become payable to the district under those
provisions of any contract or policy of insurance that provide
reimbursement for or other coverage against loss with respect
to any temporary relocation expenses of the district or
proceeds of any legal judgment or settlement regarding the
temporary relocation expenses incurred by the district,
provided that the aggregate of any tax and insurance or other
proceeds paid by the district to the State pursuant to this
subsection (e) shall not exceed in amount the moneys
distributed to the district pursuant to Section 2-3.77 as a
loan or grant.
    (f) If bonds under this Section have been issued by the
school district and the purposes for which the bonds have been
issued are accomplished and paid for in full and there remain
funds on hand from the proceeds of the bonds or interest
earnings or premiums, then the school board, by resolution,
shall transfer those excess funds to the district's bond and
interest fund for the purpose of abating taxes to pay debt
service on the bonds or for defeasance of the debt or both.
    (g) If the school district receives a construction grant
under the School Construction Law or any other law and the
purposes for which the grant was issued are accomplished and
paid for in full and there remains funds on hand from the grant
or interest earnings thereon, then the excess funds shall be
paid to the State of Illinois for deposit into the School
Construction Fund or other State fund from which the
construction grant was paid.
    (h) All insurance proceeds that become payable to the
school district under those provisions of a contract or policy
of insurance that provide reimbursement for or other coverage
against losses other than with respect to any temporary
relocation expenses of the district or proceeds of any legal
judgment or settlement regarding the repair, reconstruction,
or replacement of the condemned building shall be applied to
the repair, reconstruction, or replacement. If the project is
completed and, therefore, all costs have been paid for in full
and there remain funds on hand, including any interest earnings
thereon, from the insurance coverage, legal judgment, or
settlement, then a portion of those excess funds equal to the
State's share of the construction cost of the project shall be
paid to the State of Illinois for deposit into the School
Construction Fund or other State fund from which the
construction grant was paid, and the remainder of the excess
funds shall be transferred to the district's bond and interest
fund for the purpose of abating taxes to pay debt service on
the bonds or for defeasance of the debt or both. If no debt
service remains to be paid, then the excess may be transferred
to whichever fund that, as determined by the school board, is
most in need of the funds.
(Source: P.A. 93-690, eff. 7-1-04.)
 
    Section 99. Effective date. This Act takes effect upon
becoming law.

Effective Date: 11/2/2005