IL HB0437

Amends the Public Community College Act to remove the $25,000 minimum project cost requirement for health, safety, environmental protection, and accessibility alterations or repairs at community college districts.

Allows community college districts to levy taxes up to 0.05% per year on equalized assessed property value for approved alterations and repairs, with approval from the State Board Executive Director.

Permits districts to borrow up to $4,500,000 through bond issuance without referendum when operations and maintenance funds are insufficient and a licensed architect or engineer certifies project costs.

Authorizes Community College District No. 522 and Community College District No. 536 to borrow up to $20,000,000 in bonds for the same purposes, subject to State Board approval.

Requires bonds to mature within 20 years and be issued at interest rates authorized under state law governing public corporation debt issuance.