91st General Assembly
Summary of SB0840
   [ Home ]   [ Back ]   [ Legislation ]
Please enter a bill number.

 Full Text  Bill Status
Senate Sponsors:

House Sponsors:

Short description: 
SCH CONSTRUCTION-BOND CAPACITY                                             

Synopsis of Bill as introduced:
        Amends the School Construction Law and the School Code.  Requires      
   the  State Board of Education to certify to a school district that has      
   been issued a grant entitlement for a school construction project  the      
   amount  of  the  project  cost  that  the district will be required to      
   finance with non-grant funds.  Authorizes such a district, if  it  has      
   no  unused  bonding  capacity  or if its remaining bonding capacity is      
   less than the amount certified by the State Board of Education, to  by      
   referendum  incur  additional  indebtedness  by the issuance of school      
   construction project bonds in an amount not exceeding the project cost      
   that the district must finance  with  non-grant  funds.   Makes  other      
   related changes.  Effective immediately.                                    
        SENATE AMENDMENT NO. 1.                                                
        Requires the Capital Development  Board  (instead  of  the  State      
   Board  of  Education)  to  certify  to  the district the amount of the      
   school construction project's cost.                                         
          FISCAL NOTE (Capital Development Board)                              
          Since Chicago schools receive 20% of the grant funds awarded,        
          this has no measurable impact on CDB or its method of deter-         
          mining grant values.                                                 
Last action on Bill: PUBLIC ACT.............................. 91-0055

   Last action date: 99-06-30

           Location: Senate

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   1


 Full Text  Bill Status