IL HB5574

Amends the School Construction Law to set a grant index of 1.00 for school districts with approved construction projects issued grant entitlements in Fiscal Year 2003 or later but not awarded until after Fiscal Year 2011, if the district passes a reorganization referendum by July 1, 2014.

Reorganization must result from either an elementary or high school district converting into a unit school district, or a unit school district merging with one or more other unit school districts under Article 11E.

Maximum grant amount for reorganized districts is capped at the recognized project cost.

Requires the newly reorganized district (excluding cooperative high schools) to have a minimum enrollment of 500 students to qualify for the increased grant index.

Takes effect immediately upon becoming law.