Bill Text: IL HB1260 | 2017-2018 | 100th General Assembly | Introduced

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Bill Title: Amends the School Code. Makes a technical change in a Section concerning downstate school finance authorities.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2019-01-08 - Session Sine Die [HB1260 Detail]

Download: Illinois-2017-HB1260-Introduced.html

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100TH GENERAL ASSEMBLY State of Illinois 2017 and 2018 HB1260 Introduced , by Rep. Michael J. Madigan SYNOPSIS AS INTRODUCED:
105 ILCS 5/1E-5
Amends the School Code. Makes a technical change in a Section concerning downstate school finance authorities.
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A BILL FOR
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AN ACT concerning education.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The School Code is amended by changing Section
1E-5 as follows:
(105 ILCS 5/1E-5)
(This Section scheduled to be repealed in accordance with
105 ILCS 5/1E-165)
Sec. 1E-5. Findings; purpose; intent.
(a) The The General Assembly finds all of the following:
(1) A fundamental goal of the people of this State, as
expressed in Section 1 of Article X of the Illinois
Constitution, is the educational development of all
persons to the limits of their capacities. When a board of
education faces financial difficulties, continued
operation of the public school system is threatened.
(2) A sound financial structure is essential to the
continued operation of any school system. It is vital to
commercial, educational, and cultural interests that
public schools remain in operation. To achieve that goal,
public school systems must have effective access to the
private market to borrow short and long term funds.
(3) To promote the financial integrity of districts, as

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defined in this Article, it is necessary to provide for the
creation of school finance authorities with the powers
necessary to promote sound financial management and to
ensure the continued operation of the public schools.
(b) It is the purpose of this Article to provide a secure
financial basis for the continued operation of public schools.
The intention of the General Assembly, in creating this
Article, is to establish procedures, provide powers, and impose
restrictions to ensure the financial and educational integrity
of the public schools, while leaving principal responsibility
for the educational policies of public schools to the boards of
education within the State, consistent with the requirements
for satisfying the public policy and purpose set forth in this
Article.
(Source: P.A. 92-547, eff. 6-13-02.)