IL SB2615

Amends the Public Community College Act to modify working cash fund bond issuance limits for community college boards.

Establishes a temporary 3-year period (from effective date) during which boards may issue bonds up to 150% of permitted taxes and state entitlements, compared to the standard 75% limit under subsection (a).

After the 3-year period expires, boards revert to the standard 75% limitation for working cash fund bond issuance.

Adds new Section 3-33.7 authorizing community college boards to establish lines of credit with financial institutions: up to 85% of anticipated current fiscal year state revenues or 50% of anticipated next fiscal year revenues.

Requires board resolution approval before establishing a line of credit, with borrowed funds to be repaid within 60 days of revenue receipt at interest rates not exceeding the Bond Authorization Act maximum.