99TH GENERAL ASSEMBLY
State of Illinois
2015 and 2016
HB0804
 
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
 


HB0804LRB099 04626 NHT 24655 b



1 AN ACT concerning education.


2 Be it enacted by the People of the State of Illinois,

3represented in the General Assembly:


4 Section 5. The School Code is amended by changing Section 
51E-5 as follows:




6 (105 ILCS 5/1E-5)



7 (This Section scheduled to be repealed in accordance with 
8105 ILCS 5/1E-165)
9 Sec. 1E-5. Findings; purpose; intent. 

10 (a) The
The General Assembly finds all of the following:

11  (1) A fundamental goal of the people of this State, as

12 expressed in Section 1 of Article X of the Illinois 
13 Constitution, is
the educational development of all 
14 persons to the limits of their
capacities. When a board of 
15 education faces financial difficulties,
continued 
16 operation of the public school system is threatened.


17  (2) A sound financial structure is essential to the 
18 continued
operation of any school system. It is vital to 
19 commercial,
educational, and cultural interests that 
20 public schools remain in
operation. To achieve that goal, 
21 public school systems must have
effective access to the 
22 private market to borrow short and long term
funds.


23  (3) To promote the financial integrity of districts, as 
 
 
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1 defined in
this Article, it is
necessary to provide for the 
2 creation of school finance authorities
with the powers 
3 necessary to promote sound financial management and
to 
4 ensure the continued operation of the public schools.

5 (b) It is the purpose of this Article to provide a secure 
6financial
basis for the continued operation of public schools. 
7The
intention of the General Assembly, in creating this 
8Article, is to
establish procedures, provide powers, and impose 
9restrictions to ensure
the financial and educational integrity 
10of the public schools, while
leaving principal responsibility 
11for the educational policies of
public schools to the boards of 
12education within the State, consistent
with the requirements 
13for satisfying the public policy and purpose
set forth in this 
14Article.

15(Source: P.A. 92-547, eff. 6-13-02.)