Bill Text: IL HB2892 | 2009-2010 | 96th General Assembly | Introduced

---

Bill Title: Amends the School Code. Makes a technical change in a Section concerning financial oversight panels and emergency financial assistance.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2009-04-03 - Rule 19(a) / Re-referred to Rules Committee [HB2892 Detail]

Download: Illinois-2009-HB2892-Introduced.html

---

96TH GENERAL ASSEMBLY State of Illinois 2009 and 2010 HB2892 Introduced 2/24/2009, by Rep. Tom Cross SYNOPSIS AS INTRODUCED:
105 ILCS 5/1B-2 from Ch. 122, par. 1B-2
Amends the School Code. Makes a technical change in a Section concerning financial oversight panels and emergency financial assistance.
LRB096 06130 NHT 16212 b
A BILL FOR
HB2892 LRB096 06130 NHT 16212 b
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
1B-2 as follows:
(105 ILCS 5/1B-2) (from Ch. 122, par. 1B-2)
Sec. 1B-2. Findings and purpose.
(a) The General Assembly finds:
(1) A fundamental goal of the the people of the 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 the
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 boards of
education of school districts with a population of less
than 500,000, it is necessary to provide for emergency

HB2892 - 2 - LRB096 06130 NHT 16212 b
State financial assistance and the creation of financial
oversight panels with the powers necessary to promote sound
financial management to assure the continued availability
of educational opportunities.
(b) It is the purpose of this Article to provide financial
oversight panels and emergency State financial assistance to
school districts and establish a secure financial basis for
their continued existence. The intention of the General
Assembly, in enacting this legislation, is to establish
procedures, provide powers and impose restrictions to assure
the financial and educational integrity of the public schools
while leaving principal responsibility for the educational
policies of the public schools to the boards of education
within the State, consistent with the requirements for
satisfying the public policy and purpose herein set forth.
(Source: P.A. 88-618, eff. 9-9-94.)