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| Public Act 100-0032 | ||||
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AN ACT concerning education.
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Be it enacted by the People of the State of Illinois,
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represented in the General Assembly:
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Section 5. The School Code is amended by changing Section | ||||
17-2A as follows:
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(105 ILCS 5/17-2A) (from Ch. 122, par. 17-2A)
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Sec. 17-2A. Interfund transfers. | ||||
(a) The school board of any district having a population of | ||||
less than
500,000 inhabitants may, by proper resolution | ||||
following a public hearing
set by the school board or the | ||||
president of the school board
(that is preceded (i) by at least | ||||
one published notice over the name of
the clerk
or secretary of | ||||
the board, occurring at least 7 days and not more than 30
days
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prior to the hearing, in a newspaper of general circulation | ||||
within the
school
district and (ii) by posted notice over the | ||||
name of the clerk or secretary of
the board, at least 48 hours | ||||
before the hearing, at the principal office of the
school board | ||||
or at the building where the hearing is to be held if a | ||||
principal
office does not exist, with both notices setting | ||||
forth the time, date, place,
and subject matter of the
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hearing), transfer money from (1) the Educational Fund to the | ||||
Operations
and
Maintenance Fund or the Transportation Fund, (2) | ||||
the Operations and
Maintenance Fund to the Educational Fund or | ||||
the Transportation Fund, (3) the
Transportation Fund to the | ||
Educational Fund or the Operations and Maintenance
Fund, or (4) | ||
the Tort Immunity Fund to the Operations and Maintenance Fund | ||
of said
district,
provided that, except during the period from | ||
July 1, 2003 through June 30, 2019, such transfer is made | ||
solely for the purpose of meeting one-time,
non-recurring | ||
expenses. Except during the period from July 1, 2003 through
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June 30, 2019 and except as otherwise provided in subsection | ||
(b) of this Section, any other permanent interfund transfers | ||
authorized
by any provision or judicial interpretation of this | ||
Code for which the
transferee fund is not precisely and | ||
specifically set forth in the provision of
this Code | ||
authorizing such transfer shall be made to the fund of the | ||
school
district most in need of the funds being transferred, as | ||
determined by
resolution of the school board. | ||
(b) (Blank).
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(c) Notwithstanding subsection (a) of this Section or any | ||
other provision of this Code to the contrary, the school board | ||
of any school district (i) that is subject to the Property Tax | ||
Extension Limitation Law, (ii) that is an elementary district | ||
servicing students in grades K through 8, (iii) whose territory | ||
is in one county, (iv) that is eligible for Section 7002 | ||
Federal Impact Aid, and (v) that has no more than $81,000 in | ||
funds remaining from refinancing bonds that were refinanced a | ||
minimum of 5 years prior to January 20, 2017 (the effective | ||
date of Public Act 99-926) this amendatory Act of the 99th | ||
General Assembly may make a one-time transfer of the funds | ||
remaining from the refinancing bonds to the Operations and | ||
Maintenance Fund of the district by proper resolution following | ||
a public hearing set by the school board or the president of | ||
the school board, with notice as provided in subsection (a) of | ||
this Section, so long as the district meets the qualifications | ||
set forth in this subsection (c) on January 20, 2017 (the | ||
effective date of Public Act 99-926) this amendatory Act of the | ||
99th General Assembly. | ||
(d) Notwithstanding subsection (a) of this Section or any | ||
other provision of this Code to the contrary, the school board | ||
of any school district (i) that is subject to the Property Tax | ||
Extension Limitation Law, (ii) that is a community unit school | ||
district servicing students in grades K through 12, (iii) whose | ||
territory is in one county, (iv) that owns property designated | ||
by the United States as a Superfund site pursuant to the | ||
federal Comprehensive Environmental Response, Compensation and | ||
Liability Act of 1980 (42 U.S.C. 9601 et seq.), and (v) has an | ||
excess accumulation of funds in its bond fund, including funds | ||
accumulated prior to July 1, 2000, may make a one-time transfer | ||
of those excess funds accumulated prior to July 1, 2000 to the | ||
Operations and Maintenance Fund of the district by proper | ||
resolution following a public hearing set by the school board | ||
or the president of the school board, with notice as provided | ||
in subsection (a) of this Section, so long as the district | ||
meets the qualifications set forth in this subsection (d) on | ||
the effective date of this amendatory Act of the 100th General | ||
Assembly. | ||
(Source: P.A. 98-26, eff. 6-21-13; 98-131, eff. 1-1-14; 99-713, | ||
eff. 8-5-16; 99-922, eff. 1-17-17; 99-926, eff. 1-20-17; | ||
revised 1-23-17.)
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Section 99. Effective date. This Act takes effect upon | ||
becoming law.
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