92nd General Assembly
Summary of SB0899
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House Sponsors:

Short description: 
SCH CD-TORT-TRANSPORT TRANSFER                                             

Synopsis of Bill as introduced:
        Amends the School Code.  Allows the school board  of  any  school      
   district (i) with a population of less than 50,000, (ii) that has sold      
   tax  anticipation warrants during the last 5 years, and (iii) that has      
   a tax base of more than 75% residential property to transfer from  the      
   Tort  Immunity  Fund  and  the Transportation Fund to any other school      
   district fund an amount of money not to  exceed  a  specified  amount.      
   Effective immediately.                                                      
          FISCAL NOTE (State Board of Education)                               
          It is too speculative to estimate what districts might engage        
          in the transfers set forth in SB 899. The transfers could per-       
          mit more general expenditures that currently cannot occur            
          because the funds are "trapped" in the Transportation and            
          Tort Immunity Funds for limited and specific purposes.               
          STATE MANDATES NOTE (State Board of Education)                       
          Same as SBE fiscal note.                                             
        HOUSE AMENDMENT NO. 1.                                                 
          Adds reference to:                                                   
          105 ILCS 5/17-2A                from Ch. 122, par. 17-2A             
        Further  amends  the  School  Code.   In  a  provision   allowing      
   interfund  transfers  by  a  district having a population of less than      
   500,000 inhabitants, removes the limit on the amount of money that may      
   be transferred and the limit on the purpose for which the transfer may      
   be made, subject to the limitations  of  the  Property  Tax  Extension      
   Limitation Law, if applicable.                                              
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: Senate

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


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