Illinois House Bill 4779

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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]

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.

SCH CD-DEBT LIMIT EXCEPTION

Rep. Jennifer Gong-Gershowitz [D]

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

Chapter	Article	Section	Citation Type	Statute Text
105	5	19-1	Amended Code	Citation Text

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