Full Text of SB3521 101st General Assembly
SB3521sam001 101ST GENERAL ASSEMBLY | Sen. Christopher Belt Filed: 3/13/2020
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| 1 | | AMENDMENT TO SENATE BILL 3521
| 2 | | AMENDMENT NO. ______. Amend Senate Bill 3521 on page 1, | 3 | | line 4, by replacing "Section" with "Sections 1H-115 and"; and
| 4 | | on page 1, immediately below line 5, by inserting the | 5 | | following: | 6 | | "(105 ILCS 5/1H-115) | 7 | | Sec. 1H-115. Abolition of Panel. | 8 | | (a) Except as provided in subsections (b), (c), and (d) , | 9 | | and (e) of this Section, the Panel shall be abolished 10 years | 10 | | after its creation. | 11 | | (b) The State Board, upon recommendation of the Panel or | 12 | | petition of the school board, may abolish the Panel at any time | 13 | | after the Panel has been in existence for 3 years if no | 14 | | obligations of the Panel are outstanding or remain undefeased | 15 | | and upon investigation and finding that: | 16 | | (1) none of the factors specified in Section 1A-8 of |
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| 1 | | this Code remain applicable to the district; and | 2 | | (2) there has been substantial achievement of the goals | 3 | | and objectives established pursuant to the financial plan | 4 | | and required under Section 1H-15 of this Code. | 5 | | (c) The Panel of a district that otherwise meets all of the | 6 | | requirements for abolition of a Panel under subsection (b) of | 7 | | this Section, except for the fact that there are outstanding | 8 | | financial obligations of the Panel, may petition the State | 9 | | Board for reinstatement of all of the school board's powers and | 10 | | duties assumed by the Panel; and if approved by the State | 11 | | Board, then: | 12 | | (1) the Panel shall continue in operation, but its | 13 | | powers and duties shall be limited to those necessary to | 14 | | manage and administer its outstanding obligations; | 15 | | (2) the school board shall once again begin exercising | 16 | | all of the powers and duties otherwise allowed by statute; | 17 | | and | 18 | | (3) the Panel shall be abolished as provided in | 19 | | subsection (a) of this Section. | 20 | | (d) If the Panel of a district otherwise meets all of the | 21 | | requirements for abolition of a Panel under subsection (b) of | 22 | | this Section, except for outstanding obligations of the Panel, | 23 | | then the district may petition the State Board for abolition of | 24 | | the Panel if the district: | 25 | | (1) establishes an irrevocable trust fund, the purpose | 26 | | of which is to provide moneys to defease the outstanding |
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| 1 | | obligations of the Panel; and | 2 | | (2) issues funding bonds pursuant to the provisions of | 3 | | Sections 19-8 and 19-9 of this Code. | 4 | | A district with a Panel that falls under this subsection | 5 | | (d) shall be abolished as provided in subsection (a) of this | 6 | | Section.
| 7 | | (e) The duration of a Panel may be continued for more than | 8 | | 10 years after the date of its creation if the State Board | 9 | | extends the Panel's duration under paragraph (3) of subsection | 10 | | (e) of Section 18-8.15 of this Code. | 11 | | (Source: P.A. 97-429, eff. 8-16-11; 98-463, eff. 8-16-13.)"; | 12 | | and | 13 | | by replacing line 12 on page 49 through line 15 on page 51 with | 14 | | the following: | 15 | | " (3) Subject to approval by the General Assembly as | 16 | | provided in this paragraph (3), an Organizational Unit that | 17 | | meets all of the following criteria, as determined by the | 18 | | State Board, shall have District Intervention Money added | 19 | | to its Base Funding Minimum at the time the Base Funding | 20 | | Minimum is calculated by the State Board: | 21 | | (A) The Organizational Unit is operating under an | 22 | | Independent Authority under Section 2-3.25f-5 of this | 23 | | Code for a minimum of 4 school years or is subject to | 24 | | the control of the State Board pursuant to a court | 25 | | order for a minimum of 4 school years. |
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| 1 | | (B) The Organizational Unit was designated as a | 2 | | Tier 1 or Tier 2 Organizational Unit in the previous | 3 | | school year under paragraph (3) of subsection (g) of | 4 | | this Section. | 5 | | (C) The Organizational Unit demonstrates | 6 | | sustainability through a 5-year financial and | 7 | | strategic plan. | 8 | | (D) The Organizational Unit has made sufficient | 9 | | progress and achieved sufficient stability in the | 10 | | areas of governance, academic growth, and finances.
| 11 | | As part of its determination under this paragraph (3), | 12 | | the State Board may consider the Organizational Unit's | 13 | | summative designation, any accreditations of the | 14 | | Organizational Unit, or the Organizational Unit's | 15 | | financial profile, as calculated by the State Board. | 16 | | If the State Board determines that an Organizational | 17 | | Unit has met the criteria set forth in this paragraph (3), | 18 | | it must submit a report to the General Assembly, no later | 19 | | than January 2 of the fiscal year in which the State Board | 20 | | makes it determination, on the amount of District | 21 | | Intervention Money to add to the Organizational Unit's Base | 22 | | Funding Minimum. The General Assembly must review the State | 23 | | Board's report and may approve or disapprove, by joint | 24 | | resolution, the addition of District Intervention Money. | 25 | | If the General Assembly fails to act on the report within | 26 | | 40 calendar days from the receipt of the report, the |
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| 1 | | addition of District Intervention Money is deemed | 2 | | approved. If the General Assembly approves the amount of | 3 | | District Intervention Money to be added to the | 4 | | Organizational Unit's Base Funding Minimum, the District | 5 | | Intervention Money must be added to the Base Funding | 6 | | Minimum annually thereafter. | 7 | | For the first 4 years following the initial year that | 8 | | the State Board determines that an Organizational Unit has | 9 | | met the criteria set forth in this paragraph (3) and has | 10 | | received funding under this Section, the Organizational | 11 | | Unit must annually submit to the State Board, on or before | 12 | | November 30, a progress report regarding its financial and | 13 | | strategic plan under subparagraph (C) of this paragraph | 14 | | (3). The plan shall include the financial data from the | 15 | | past 4 annual financial reports or financial audits that | 16 | | must be presented to the State Board by November 15 of each | 17 | | year and the approved budget financial data for the current | 18 | | year. The plan shall be developed according to the | 19 | | guidelines presented to the Organizational Unit by the | 20 | | State Board. The plan shall further include financial | 21 | | projections for the next 3 fiscal years and include a | 22 | | discussion and financial summary of the Organizational | 23 | | Unit's facility needs. If the Organizational Unit does not | 24 | | demonstrate sufficient progress toward its 5-year plan or | 25 | | if it has failed to file an annual financial report, an | 26 | | annual budget, a financial plan, a deficit reduction plan, |
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| 1 | | or other financial information as required by law, the | 2 | | State Board may establish a Financial Oversight Panel under | 3 | | Article 1H of this Code. However, if the Organizational | 4 | | Unit already has a Financial Oversight Panel, the State | 5 | | Board may extend the duration of the Panel. ".
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