90th General Assembly Summary of HB1622    [ Home ]   [ Back ]   [ Legislation ]

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House Sponsors:
PHELPS.

Short description: 
SCH CD-BONDED INDEBTEDNESS                                                 

Synopsis of Bill as introduced:
        Amends the School Code.  Authorizes an elementary school district      
   that meets specified criteria to issue bonds for the construction of a      
   new elementary school facility up to  an  amount,  excluding  existing      
   indebtedness,  not exceeding 18% of the EAV of the taxable property of      
   the district, if the voters of the district approve a proposition  for      
   the  issuance  of  those bonds at a referendum held after July 1, 1997      
   and the bonds are issued by July 1, 1998.  Effective immediately.           
          FISCAL NOTE (State Bd. of Ed.)                                       
          There is no fiscal impact on ISBE.                                   
          STATE MANDATES FISCAL NOTE (SBE)                                     
          No change from SBE fiscal note.                                      
          STATE DEBT IMPACT NOTE                                               
          HB 1622 would not have an impact on the level of State debt.         
 
Last action on Bill: SESSION SINE DIE

   Last action date: 99-01-12

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


   END OF INQUIRY 


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