IL SB3544

Amends the School Code to modify provisions governing school district working cash funds, including authority to create, recreate, or increase such funds through bond issuance up to 85% of permitted educational tax revenues.

Changes the deadline for levying working cash fund taxes from the last Tuesday in September to the last Tuesday in December each year.

Expands permissible uses of working cash fund moneys to allow transfer to any district fund for "any and all school purposes" rather than limiting use to ordinary and necessary disbursements for salaries and expenses.

Allows interest earned from investment of working cash funds to be transferred to the fund most in need without requiring repayment to the working cash fund, subject to school board resolution and Local Government Debt Reform Act requirements.

Creates new Section 20-10 authorizing school districts to abate (reduce) working cash funds at any time while maintaining a minimum balance equal to 0.05% of current taxable property value, with flexibility to redirect excess funds to other district needs.