IL HB6250

Extends the deadline for school districts (other than Chicago) to transfer surplus life safety taxes and interest earnings to the Operations and Maintenance Fund for building repairs from June 30, 2013 to June 30, 2016, provided a public hearing is held.

Extends the period during which school districts may transfer money between the Educational Fund, Operations and Maintenance Fund, and Transportation Fund from June 30, 2013 to June 30, 2016 for one-time, non-recurring expenses.

Requires school districts to hold a public hearing with at least 7 days' published notice and 48 hours' posted notice before authorizing interfund transfers.

Applies only to school districts with populations less than 500,000 inhabitants (excludes Chicago school district).

Takes effect immediately upon becoming law.