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.
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
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 0
END OF INQUIRY
Full Text Bill Status