95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
HB2208


 
Introduced 2/26/2007, by Rep. Michael J. Madigan - Barbara Flynn Currie - Michael K. Smith
 
SYNOPSIS AS INTRODUCED:
 		














105 ILCS 5/1E-5









    Amends the School Code. Makes a technical change in a Section concerning downstate school finance authorities.
















LRB095 01142 NHT 21144 b

















 


 


A BILL FOR









 











HB2208

LRB095 01142 NHT 21144 b






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    AN ACT concerning education.

 
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    Be it enacted by the People of the State of Illinois,
 
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represented in the General Assembly:


 
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    Section 5. The School Code is amended by changing Section 
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1E-5 as follows:
 



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    (105 ILCS 5/1E-5)



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    Sec. 1E-5. Findings; purpose; intent. 

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    (a) The
The General Assembly finds all of the following:

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        (1) A fundamental goal of the people of this State, as

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    expressed in Section 1 of Article X of the Illinois 
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    Constitution, is
the educational development of all 
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    persons to the limits of their
capacities. When a board of 
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    education faces financial difficulties,
continued 
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    operation of the public school system is threatened.


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        (2) A sound financial structure is essential to the 
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    continued
operation of any school system. It is vital to 
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    commercial,
educational, and cultural interests that 
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    public schools remain in
operation. To achieve that goal, 
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    public school systems must have
effective access to the 
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    private market to borrow short and long term
funds.


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        (3) To promote the financial integrity of districts, as 
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    defined in
this Article, it is
necessary to provide for the 
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    creation of school finance authorities
with the powers 
 


 






HB2208
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    necessary to promote sound financial management and
to 
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    ensure the continued operation of the public schools.

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    (b) It is the purpose of this Article to provide a secure 
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financial
basis for the continued operation of public schools. 
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The
intention of the General Assembly, in creating this 
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Article, is to
establish procedures, provide powers, and impose 
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restrictions to ensure
the financial and educational integrity 
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of the public schools, while
leaving principal responsibility 
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for the educational policies of
public schools to the boards of 
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education within the State, consistent
with the requirements 
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for satisfying the public policy and purpose
set forth in this 
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Article.

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(Source: P.A. 92-547, eff. 6-13-02.)