Senate Sponsors: RAUSCHENBERGER. Short description: SCH CD-TAXING Synopsis of Bill as introduced: Amends the Property Tax Extension Limitation Law of the Property Tax Code. Excludes bonds issued by school boards for fire prevention and safety purposes after the effective date of this amendatory Act and bonds issued to refund said bonds issued after the effective date of this amendatory Act from the definition of "debt service extension base". Provides that the aggregate extension for a school district shall not include any extension (i) made for fire prevention and safety purposes produced by that portion of the rate for such purpose in excess of the district's maximum permissible rate for such purpose immediately prior to the effective date of this amendatory Act, (ii) made for payments of principal and interest on fire prevention and safety bonds issued after the effective date of this amendatory Act or on bonds issued to refund said bonds issued after the effective date of this amendatory Act, (iii) made for operations and maintenance purposes produced by that portion of the rate for such purpose in excess of the district's maximum permissible rate for such purpose immediately prior to the effective date of this amendatory Act, or (iv) made for capital improvement purposes produced by that portion of the rate for such purpose in excess of the district's maximum permissible rate for such purpose immediately prior to the effective date of this amendatory Act. Amends the School Code. Provides that urgent and required items for the purpose of the safety survey report of the school board shall be defined in the rules adopted by the State Board of Education, and that required items shall be corrected no more than 3 years (was 5 years) from the date of the State Superintendent of Education's approval of the recommendation. Makes changes in the Sections concerning borrowing money and issuing bonds, tax levies, backdoor referendums, capital improvement taxes, the school board's power to levy a tax or borrow money and issue bonds for fire prevention and safety purposes, and debt limitations of school districts. Repeals the Section of the Property Tax Extension Limitation Law of the Property Tax Code concerning the School Code. Effective immediately. Last action on Bill: SESSION SINE DIE Last action date: 01-01-09 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status