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]

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Bill Drafts

Revision	Date	Format	Source	View
Engrossed	2017-04-26	HTML/Text	Link	View
Introduced	2017-01-13	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
House Amendment 003	2017-04-21	Proposed	HTML/Text	Link	View
House Amendment 002	2017-03-16	Proposed	HTML/Text	Link	View
House Amendment 001	2017-02-14	Proposed	HTML/Text	Link	View

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB0459 currently on file.

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