CURRIE. 105 ILCS 5/34-53.5 new Amends the School Code. Allows the Chicago Board of Education to levy a capital improvement tax to provide revenue for specified capital improvement purposes. Provides that an initial tax levy must be approved by the Chicago City Council before it can be extended. If the Chicago City Council does not approve a resolution to approve or disapprove a capital improvement tax levy within 60 days, the initial tax levy is deemed disapproved. Authorizes the Chicago Board of Education to issue bonds against any revenues to be collected from the capital improvement tax in any year and pledge those revenues as security for the payment of the bonds. Effective immediately. FEB-07-2002 H FILED WITH CLERK FEB-07-2002 H FIRST READING FEB-07-2002 H REFERRED TO HOUSE RULES COMMITTEE RULES JAN-07-2003 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary