SCH CD-FINANC OVERSIGHT PANEL House SponsorsRep. Roger L. Eddy 1/11/2011HouseSession Sine Die 35 ILCS 200/18-50.135 ILCS 200/18-9235 ILCS 200/18-24140 ILCS 5/7-105from Ch. 108 1/2, par. 7-10540 ILCS 5/7-109from Ch. 108 1/2, par. 7-109105 ILCS 5/1A-8from Ch. 122, par. 1A-8105 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-41 new105 ILCS 5/1H-42 new105 ILCS 5/1H-43 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 5/8-6from Ch. 122, par. 8-6105 ILCS 5/10-16.9 new105 ILCS 5/17-1from Ch. 122, par. 17-1115 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 and other certificates and notes; reports; a Panel audit; Panel property being exempt from taxation; sanctions; and abolition of a Panel. Makes related changes in the School Code, the Property Tax Code, and the Illinois Pension Code. Further amends the School Code with respect to districts in financial difficulty, the custody of school funds, bank reconciliation reports, and deficit reduction plans. Effective immediately. 2/10/2010HouseFiled with the Clerk by Rep. Roger L. Eddy 2/10/2010HouseFirst Reading 2/10/2010HouseReferred to Rules Committee 1/11/2011HouseSession Sine Die