Public Act 094-0690
 		





HB3095 Enrolled
LRB094 07212 NHT 37367 b






    AN ACT concerning education.

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

 
    Section 5. The School Code is amended by changing
Section 
17-2.2d as follows:


 
    (105 ILCS 5/17-2.2d)

    Sec. 17-2.2d. Special taxing and bonding for temporary 
relocation expense and emergency replacement purposes.
    (a)  In addition to any other taxes and notwithstanding any 
limitation imposed by the Property Tax Extension Limitation Law 
or any other limitations specified in this Code or any other 
law, the school board of any district subject to this Code

having a population of less than 500,000 inhabitants that meets 
the criteria specified in subsection (c) of this Section, may, 
by proper resolution, levy an annual tax not to exceed 0.05% 
upon the value of the taxable property as equalized or assessed 
by the Department of Revenue for a period not to exceed 7 years 
for the purpose of providing for the repayment of moneys paid 
to the district
distributed for temporary relocation expenses 
of the district pursuant to Section 2-3.77 of this Code.
    (b)  The school board of any district that meets the 
criteria specified in subsection (c) of this Section may 
repair, reconstruct, or replace a condemned building without 
seeking referendum approval for the repair, reconstruction, or 
replacement.

    (c)  In order for this Section to apply, the school district 
must (i) be located in a county subject to the Property Tax 
Extension Limitation Law, (ii) have had a total enrollment of 
at least 1,075 students as shown on the 2003 Illinois State 
Report Card, and (ii)
(iii) have had a school building 
condemned within 10 years after the building's initial 
occupancy
after January 1, 2004 and prior to June 30, 2004.

    (d)  Notwithstanding any limitation imposed by the Property 
Tax Extension Limitation Law or any other limitations specified 
in this Code or any other law, the school board of any district 
that meets the criteria specified in subsection (c) of this 
Section, may, by proper resolution, issue bonds, without 
referendum, in an amount sufficient to finance the total cost 
of repair, reconstruction, or replacement of the condemned 
building, including the costs of providing for the payment of 
any obligations heretofore or hereafter entered into for such 
purposes.  Any premium and all interest earnings on the proceeds 
of the bonds so issued shall be used for the purposes for which 
the bonds were issued. The proceeds of any bonds issued under 
this Section shall be deposited and accounted for separately 
within the district's site and construction/capital 
improvements fund. The recording officer of the board shall 
file in the office of the county clerk of each county in which 
a portion of the district is situated a certified copy of the 
resolution providing for the issuance of the bonds and levy of 
a tax without limit as to rate or amount to pay the bonds. 
Bonds issued under this Section and any bonds issued to refund 
those
these bonds are not subject to any debt limitation 
imposed by this Code or any other law.

    (e)  The school board, as an express condition to receiving 
a temporary relocation loan under Section 2-3.77 of this Code, 
must agree to levy the tax provided in this Section at the 
maximum rate permitted and to pay to the State of Illinois for 
deposit into the Temporary Relocation Expenses Revolving Grant 
Fund (i) all proceeds of the tax attributable to the first year 
and succeeding years for which the tax is levied after moneys 
appropriated for purposes of Section 2-3.77 have been 
distributed to the school district and (ii) all insurance 
proceeds that become payable to the district under those 
provisions of any contract or policy of insurance that provide 
reimbursement for or other coverage against loss with respect 
to any temporary relocation expenses of the district or 
proceeds of any legal judgment or settlement regarding the 
temporary relocation expenses incurred by the district, 
provided that the aggregate of any tax and insurance or other 
proceeds paid by the district to the State pursuant to this 
subsection (e) shall not exceed in amount the moneys 
distributed to the district pursuant to Section 2-3.77 as a 
loan or grant.

    (f)  If bonds under this Section have been issued by the 
school district and the purposes for which the bonds have been 
issued are accomplished and paid for in full and there remain 
funds on hand from the proceeds of the bonds or interest 
earnings or premiums, then the school board, by resolution, 
shall transfer those excess funds to the district's bond and 
interest fund for the purpose of abating taxes to pay debt 
service on the bonds or for defeasance of the debt or both.

    (g)  If the school district receives a construction grant 
under the School Construction Law or any other law and the 
purposes for which the grant was issued are accomplished and 
paid for in full and there remains funds on hand from the grant 
or interest earnings thereon, then the excess funds shall be 
paid to the State of Illinois for deposit into the School 
Construction Fund or other State fund from which the 
construction grant was paid.
    (h)  All insurance proceeds that become payable to the 
school district under those provisions of a contract or policy 
of insurance that provide reimbursement for or other coverage 
against losses other than with respect to any temporary 
relocation expenses of the district or proceeds of any legal 
judgment or settlement regarding the repair, reconstruction, 
or replacement of the condemned building shall be applied to 
the repair, reconstruction, or replacement.  If the project is 
completed and, therefore, all costs have been paid for in full 
and there remain funds on hand, including any interest earnings 
thereon, from the insurance coverage, legal judgment, or 
settlement, then a portion of those excess funds equal to the 
State's share of the construction cost of the project shall be 
paid to the State of Illinois for deposit into the School 
Construction Fund or other State fund from which the 
construction grant was paid, and the remainder of the excess 
funds shall be transferred to the district's bond and interest 
fund for the purpose of abating taxes to pay debt service on 
the bonds or for defeasance of the debt or both.  If no debt 
service remains to be paid, then the excess may be transferred 
to whichever fund that, as determined by the school board, is 
most in need of the funds.


(Source: P.A. 93-690, eff. 7-1-04.)
 

    Section 99. Effective date. This Act takes effect upon 
becoming law.