State of Illinois
92nd General Assembly

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 1        AN ACT concerning schools.

 2        Be  it  enacted  by  the People of the State of Illinois,
 3    represented in the General Assembly:

 4        Section 5.   The  School  Code  is  amended  by  changing
 5    Section 17-2A as follows:

 6        (105 ILCS 5/17-2A) (from Ch. 122, par. 17-2A)
 7        Sec.  17-2A.  Interfund  transfers  Transfers. The school
 8    board of any  district  having  a  population  of  less  than
 9    500,000  inhabitants  may,  by  proper resolution following a
10    public hearing set by the school board or  the  president  of
11    the  school  board  (that  is  preceded  (i)  by at least one
12    published notice over the name of the clerk or  secretary  of
13    the  board,  occurring  at  least 7 days and not more than 30
14    days  prior  to  the  hearing,  in  a  newspaper  of  general
15    circulation within the school district  and  (ii)  by  posted
16    notice  over the name of the clerk or secretary of the board,
17    at least 48 hours before the hearing, at the principal office
18    of the school board or at the building where the  hearing  is
19    to  be  held  if a principal office does not exist, with both
20    notices setting forth the  time,  date,  place,  and  subject
21    matter  of  the  hearing),  transfer from (1) the Educational
22    Fund  to  the  Operations  and  Maintenance   Fund   or   the
23    Transportation  Fund, (2) the Operations and Maintenance Fund
24    to the Educational Fund or the Transportation  Fund,  or  (3)
25    the  Transportation  Fund  to  the  Educational  Fund  or the
26    Operations and Maintenance Fund of said district an amount of
27    money not to exceed 20% of the tax actually received  in  the
28    transferor  Fund  for  the  year  previous  to  the transfer,
29    provided such transfer is made  solely  for  the  purpose  of
30    meeting   one-time,   non-recurring   expenses.    Any  other
31    permanent interfund transfers authorized by any provision  or
                            -2-                LRB9212629NTsb
 1    judicial interpretation of this Code for which the transferee
 2    Fund  is  not  precisely  and  specifically  set forth in the
 3    provision of this Code authorizing  such  transfer  shall  be
 4    made  to  the Fund of the school district most in need of the
 5    funds being transferred, as determined by resolution  of  the
 6    school board.
 7    (Source: P.A. 92-127, eff. 1-1-02.)

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