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| [ Introduced ] | [ Engrossed ] | [ Senate Amendment 001 ] |
91_HB0017sam002
LRB9100390NTmbam01
1 AMENDMENT TO HOUSE BILL 17
2 AMENDMENT NO. . Amend House Bill 17, AS AMENDED, by
3 replacing the title with the following:
4 "AN ACT to amend the School Code by adding Section
5 17-2C."; and
6 by replacing everything after the enacting clause with the
7 following:
8 "Section 5. The School Code is amended by changing
9 Section 17-2C as follows:
10 (105 ILCS 5/17-2C)
11 Sec. 17-2C. Transfer from Tort Immunity Fund or
12 Transportation Fund by financially distressed school
13 districts.
14 (a) The school board of any school district that is
15 certified under Section 19-1.5 as a financially distressed
16 school district may by resolution transfer from the Tort
17 Immunity Fund to any other school district fund an amount of
18 money not to exceed the lesser of $2,500,000 or 0.6% of the
19 value of the taxable property within the district, provided
20 the amount transferred is not then required for the payment
21 of any liabilities created by a settlement or a tort
-2- LRB9100390NTmbam01
1 judgement, defense costs, or for the payment of any
2 liabilities under the Unemployment Insurance Act, Workers'
3 Compensation Act, Workers' Occupational Diseases Act, or risk
4 care management programs.
5 (b) The school board of any school district (i) with a
6 population of less than 50,000, (ii) that has sold tax
7 anticipation warrants during the last 3 years before the
8 effective date of this amendatory Act of the 91st General
9 Assembly, and (iii) that has a tax base of more than 75%
10 residential property may by resolution transfer from the Tort
11 Immunity Fund to any other school district fund an amount of
12 money not to exceed the lesser of $2,500,000 or 0.6% of the
13 value of the taxable property within the district, provided
14 the amount transferred is not then required for the payment
15 of any liabilities created by a settlement or a tort
16 judgment, for defense costs, or for the payment of any
17 liabilities under the Unemployment Insurance Act, Workers'
18 Compensation Act, Workers' Occupational Diseases Act, or risk
19 care management programs.
20 (c) The school board of any school district (i) with a
21 population of less than 50,000, (ii) that has sold tax
22 anticipation warrants during the last 3 years before the
23 effective date of this amendatory Act of the 91st General
24 Assembly, and (iii) that has a tax base of more than 75%
25 residential property may by resolution transfer from the
26 Transportation Fund to any other school district fund an
27 amount of money not to exceed the lesser of $2,500,000 or
28 0.6% of the value of the taxable property within the
29 district.
30 (Source: P.A. 88-641, eff. 9-9-94; revised 10-31-98.)
31 Section 99. Effective date. This Act takes effect upon
32 becoming law.".