Bill Title: Creates the School District Debt Control and Taxpayer Protection Act, and amends the School Code. Provides that a school district may not refinance debt past the repayment period of the debt when issued, may not issue debt to be serviced over a period of greater than 20 years, and may not issue capital appreciation bonds. Provides that school districts may not be indebted in an amount greater than that indicated in the Act and if a school district does exceed the debt limitation, then the school district many not incur any new debt until the school district's debt is lower than the debt limitation. Effective immediately.

Spectrum: Bipartisan Bill

Status: (Introduced - Dead) 2017-04-27 - Third Reading - Short Debate - Lost 043-070-000 [HB0459 Detail]

Text: Latest bill text (Engrossed) [HTML]

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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Representative Jeanne Ives [R]	Primary	Sponsored Bills	HD-042	FollowTheMoney	Ballotpedia	VoteSmart
Representative Allen Skillicorn [R]	Cosponsor	Sponsored Bills	HD-066	FollowTheMoney	Ballotpedia	VoteSmart
Representative Sam Yingling [D]	Cosponsor	Sponsored Bills	HD-062	FollowTheMoney	Ballotpedia	VoteSmart
Representative Thomas Morrison [R]	Cosponsor	Sponsored Bills	HD-054	FollowTheMoney	Ballotpedia	VoteSmart
Representative Martin Moylan [D]	Cosponsor	Sponsored Bills	HD-055	FollowTheMoney	Ballotpedia	VoteSmart

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