State of Illinois
92nd General Assembly
Legislation

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92_HB0977eng

 
HB0977 Engrossed                              LRB9200796NTsbA

 1        AN ACT concerning education.

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

 4        Section  5.  The  School  Code  is  amended  by  changing
 5    Section 17-2A as follows:

 6        (105 ILCS 5/17-2A) (from Ch. 122, par. 17-2A)
 7        Sec.  17-2A. Interfund Transfers. The school board of any
 8    district  having  a   population   of   less   than   500,000
 9    inhabitants,  may,  by  proper  resolution following a public
10    hearing (that is preceded by at least  one  published  notice
11    occurring at least 7 days prior to the hearing in a newspaper
12    of general circulation within the school district and setting
13    forth  the  time,  date,  place,  and  subject  matter of the
14    hearing), transfer money from (1) the Educational Fund to the
15    Operations and Maintenance Fund or the  Transportation  Fund,
16    (2)  the  Operations  and Maintenance Fund to the Educational
17    Fund or the Transportation Fund, or  (3)  the  Transportation
18    Fund   to   the   Educational  Fund  or  the  Operations  and
19    Maintenance Fund of said district, subject to the limitations
20    of the Property Tax Extension Limitation Law,  if  applicable
21    an  amount  of  money  not  to exceed 20% of the tax actually
22    received in the Fund for the year previous to  the  transfer,
23    provided  such  transfer  is  made  solely for the purpose of
24    meeting one-time, non-recurring expenses.
25    (Source: P.A. 89-3, eff. 2-27-95.)

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

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