96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
HB2892

 

Introduced 2/24/2009, by Rep. Tom Cross

 

SYNOPSIS AS INTRODUCED:
 
105 ILCS 5/1B-2   from Ch. 122, par. 1B-2

    Amends the School Code. Makes a technical change in a Section concerning financial oversight panels and emergency financial assistance.


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A BILL FOR

 

HB2892 LRB096 06130 NHT 16212 b

1     AN ACT concerning education.
 
2     Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
 
4     Section 5. The School Code is amended by changing Section
5 1B-2 as follows:
 
6     (105 ILCS 5/1B-2)  (from Ch. 122, par. 1B-2)
7     Sec. 1B-2. Findings and purpose.
8     (a) The General Assembly finds:
9         (1) A fundamental goal of the the people of the State,
10     as expressed in Section 1 of Article X of the Illinois
11     Constitution, is the educational development of all
12     persons to the limits of their capacities. When a board of
13     education faces financial difficulties, continued
14     operation of the public school system is threatened.
15         (2) A sound financial structure is essential to the
16     continued operation of any school system. It is vital to
17     commercial, educational and cultural interests that the
18     public schools remain in operation. To achieve that goal,
19     public school systems must have effective access to the
20     private market to borrow short and long term funds.
21         (3) To promote the financial integrity of boards of
22     education of school districts with a population of less
23     than 500,000, it is necessary to provide for emergency

 

 

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1     State financial assistance and the creation of financial
2     oversight panels with the powers necessary to promote sound
3     financial management to assure the continued availability
4     of educational opportunities.
5     (b) It is the purpose of this Article to provide financial
6 oversight panels and emergency State financial assistance to
7 school districts and establish a secure financial basis for
8 their continued existence. The intention of the General
9 Assembly, in enacting this legislation, is to establish
10 procedures, provide powers and impose restrictions to assure
11 the financial and educational integrity of the public schools
12 while leaving principal responsibility for the educational
13 policies of the public schools to the boards of education
14 within the State, consistent with the requirements for
15 satisfying the public policy and purpose herein set forth.
16 (Source: P.A. 88-618, eff. 9-9-94.)