Illinois General Assembly - Bill Status for HB5322

Home

Legislation & Laws

Senate

House

My Legislation

Site Map

Previous General Assemblies

Bill Status of HB5322 101st General Assembly

Full Text Votes Witness Slips View All Actions Printer-Friendly Version

Short Description: SCH CD-EXCESS CASH RESERVES

House Sponsors
Rep. Mary E. Flowers

Last Action

Date	Chamber	Action
1/13/2021	House	Session Sine Die

Statutes Amended In Order of Appearance

105 ILCS 5/10-20.73 new

105 ILCS 5/34-18.66 new

Synopsis As Introduced
Amends the School Code. Provides that if a school district has excess cash reserves, the school district must either: (i) reduce the amount of the tax levy for the following levy year by the amount of the excess cash reserves; or (ii) submit a report to the State Board of Education detailing the purpose and utilization timeline for those excess cash reserves. Provides that "excess cash reserves" means the amount of money in a working cash fund that exceeds 100% of the operating costs of the school district based on the preceding school year. Effective immediately.

Actions

Date	Chamber	Action
2/14/2020	House	Filed with the Clerk by Rep. Mary E. Flowers
2/18/2020	House	First Reading
2/18/2020	House	Referred to Rules Committee
1/13/2021	House	Session Sine Die

×