HB0226 Summary

• Amends the Illinois School Code to modify Section 19-1 regarding school district debt limitations and exceptions to those limits.

• Adds new subsection (p-105) allowing Sandoval Community Unit School District 501 to issue up to $2,000,000 in bonds by March 19, 2017, for building and equipping a new elementary school building due to age and condition of existing facilities, exempt from statutory debt limitations.

• Modifies subsection (p-95) to become (p-100) for the community unit school district created from the merger of Milford Community Consolidated School District 280 and Milford Township High School District 233, allowing up to $17,500,000 in bonds by July 1, 2020, with similar exemptions from debt limitations.

• Maintains existing provisions allowing other specified school districts special bonding authority under specific conditions related to enrollment growth, facility age, voter approval, and project limitations.

• Takes effect upon becoming law.