SCH CD-FINANC OVERSIGHT PANEL House SponsorsRep. Michael K. Smith 1/13/2009HouseSession Sine Die 35 ILCS 200/18-50.135 ILCS 200/18-9235 ILCS 200/18-24140 ILCS 5/16-106from Ch. 108 1/2, par. 16-106105 ILCS 5/1B-8from Ch. 122, par. 1B-8105 ILCS 5/Art. 1H heading new105 ILCS 5/1H-1 new105 ILCS 5/1H-5 new105 ILCS 5/1H-10 new105 ILCS 5/1H-15 new105 ILCS 5/1H-20 new105 ILCS 5/1H-25 new105 ILCS 5/1H-30 new105 ILCS 5/1H-35 new105 ILCS 5/1H-40 new105 ILCS 5/1H-45 new105 ILCS 5/1H-50 new105 ILCS 5/1H-55 new105 ILCS 5/1H-60 new105 ILCS 5/1H-65 new105 ILCS 5/1H-70 new105 ILCS 5/1H-75 new105 ILCS 5/1H-80 new105 ILCS 5/1H-85 new105 ILCS 5/1H-90 new105 ILCS 5/1H-95 new105 ILCS 5/1H-100 new105 ILCS 5/1H-105 new105 ILCS 5/1H-110 new105 ILCS 5/1H-115 new105 ILCS 5/1H-120 new105 ILCS 5/1H-125 new105 ILCS 5/1H-130 new105 ILCS 5/1H-135 new105 ILCS 5/1H-140 new105 ILCS 5/1H-145 new105 ILCS 5/1H-150 new105 ILCS 5/1H-155 new105 ILCS 5/1H-160 new105 ILCS 5/1H-165 new105 ILCS 5/1H-170 new105 ILCS 5/17-11.2115 ILCS 5/2from Ch. 48, par. 1702 Creates the Financial Oversight Panel Law of the School Code. Allows a school district (other than the Chicago school district) to petition the State Board of Education for the establishment of a Financial Oversight Panel for the district. Allows the State Board to establish a Financial Oversight Panel without a petition from a district. Contains provisions concerning duties of the district; members and meetings of a Panel; powers of a Panel; officers of a Panel; collective bargaining agreements; deposits and investments; cash and bank accounts; the financial, management, and budgetary structure; the School District Emergency Financial Assistance Fund; grants and loans; the issuance of bonds; a tax levy; a debt service fund; a debt service reserve fund; bond anticipation notes; tax anticipation warrants; reports; a Panel audit; Panel property being exempt from taxation; sanctions; and abolition of a Panel. Makes related changes in the School Code and other Acts. Effective immediately. 2/23/2007HouseFiled with the Clerk by Rep. Michael K. Smith 2/26/2007HouseFirst Reading 2/26/2007HouseReferred to Rules Committee 3/1/2007HouseAssigned to Elementary & Secondary Education Committee 3/20/2007HouseMotion Do Pass - Lost Elementary & Secondary Education Committee; 011-003-000 3/20/2007HouseRemains in Elementary & Secondary Education Committee 3/21/2007HouseDo Pass / Short Debate Elementary & Secondary Education Committee; 014-004-000 3/21/2007HousePlaced on Calendar 2nd Reading - Short Debate 4/27/2007HouseThird Reading/Final Action Deadline Extended-9(b) May 3, 2007 5/3/2007HouseThird Reading/Final Action Deadline Extended-9(b) May 10, 2007 5/10/2007HouseThird Reading/Final Action Deadline Extended-9(b) May 18, 2007 5/18/2007HouseFinal Action Deadline Extended-9(b) May 25, 2007 5/25/2007HouseRule 19(a) / Re-referred to Rules Committee 1/13/2009HouseSession Sine Die