Bill Title: Creates the Financial Oversight Panel Law of the School Code. Allows a school district (other than the Chicago school district) to petition the State Board of Education for the establishment of a Financial Oversight Panel for the district. Allows the State Board to establish a Financial Oversight Panel without a petition from a district. Contains provisions concerning duties of the district; members and meetings of a Panel; powers of a Panel; officers of a Panel; collective bargaining agreements; deposits and investments; cash and bank accounts; the financial, management, and budgetary structure; the School District Emergency Financial Assistance Fund; grants and loans; the issuance of bonds; a tax levy; a debt service fund; a debt service reserve fund; bond anticipation notes; tax anticipation warrants; reports; a Panel audit; Panel property being exempt from taxation; sanctions; and abolition of a Panel. Makes related changes in the School Code and the Property Tax Code. Effective July 1, 2011.

Spectrum: Bipartisan Bill

Status: (Passed) 2011-08-16 - Public Act . . . . . . . . . 97-0429 [SB2149 Detail]

---

Bill Drafts

Revision	Date	Format	Source	View
Chaptered	2011-08-17	HTML/Text	Link	View
Amended	2011-04-08	HTML/Text	Link	View
Amended	2011-04-05	HTML/Text	Link	View
Amended	2011-03-15	HTML/Text	Link	View
Enrolled	Not Avail	HTML/Text	Link	View
Engrossed	Not Avail	HTML/Text	Link	View
Introduced	Not Avail	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois SB2149

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois SB2149 currently on file.

Social Comments on IL SB2149