Bill Title: Amends the School Code. Provides that if a school district has excess cash reserves, the school district must either: (i) reduce the amount of the tax levy for the following levy year by the amount of the excess cash reserves; or (ii) submit a report to the State Board of Education detailing the purpose and utilization timeline for those excess cash reserves. Provides that "excess cash reserves" means the amount of money in a working cash fund that exceeds 100% of the operating costs of the school district based on the preceding school year. Effective immediately.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2020-02-18 - Referred to Rules Committee [HB5322 Detail]

Text: Latest bill text (Introduced) [HTML]

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