IL HB4779 | 2023-2024 | 103rd General Assembly
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 5 2024 - 25% progression
Action: 2024-04-05 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on February 5 2024 - 25% progression
Action: 2024-04-05 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the School Code. In a Section concerning the debt limitations of school districts, provides that, in addition to all other authority to issue bonds, Avoca School District 37 may issue bonds with an aggregate principal amount not to exceed $89,800,000 if specified conditions are met, including (i) that the voters of the school district approve a proposition for the bond issuance at an election held on or after March 19, 2024 and (ii) that, prior to the issuance of the bonds, the school board determines, by resolution, that the projects set forth in the proposition for the bond issuance were and are required because of the age and condition of the district's existing school buildings. Provides that the debt incurred on the bonds shall not be considered indebtedness for purposes of any statutory debt limitation and must mature within not to exceed 25 years from their date, notwithstanding any other law to the contrary. Effective immediately.
Title
SCH CD-DEBT LIMIT EXCEPTION
Sponsors
History
Date | Chamber | Action |
---|---|---|
2024-04-05 | House | Rule 19(a) / Re-referred to Rules Committee |
2024-03-08 | House | To Revenue - Property Tax Subcommittee |
2024-02-14 | House | Assigned to Revenue & Finance Committee |
2024-02-06 | House | Referred to Rules Committee |
2024-02-06 | House | First Reading |
2024-02-05 | House | Filed with the Clerk by Rep. Jennifer Gong-Gershowitz |
Code Citations
Chapter | Article | Section | Citation Type | Statute Text |
---|---|---|---|---|
105 | 5 | 19-1 | Amended Code | Citation Text |
Illinois State Sources
Type | Source |
---|---|
Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=4779&GAID=17&DocTypeID=HB&SessionID=112&GA=103 |
Text | https://www.ilga.gov/legislation/103/HB/10300HB4779.htm |