HB5515 Summary

• Amends Section 17-2.11 of the School Code to allow school districts (populations under 500,000) to levy taxes up to 0.05% annually or issue bonds for fire prevention, safety, energy conservation, disabled accessibility, and school security purposes without voter referendum.

• Requires school districts to obtain certified cost estimates from licensed architects or engineers and approval from regional and state superintendents before proceeding with alterations, reconstructions, or equipment purchases, except in emergency situations.

• Allows school districts to increase the tax rate limit to 0.10% upon voter approval at a regularly scheduled election.

• Permits school boards to transfer surplus Fire Prevention and Safety Fund proceeds to the Operations and Maintenance Fund for building repairs through June 30, 2013, following a public hearing with proper notice requirements.

• Authorizes school districts to issue bonds without referendum when tax levy proceeds are insufficient to complete approved work, with bonds maturing within 20 years and bearing interest at the maximum rate authorized by law.