DEBT LIMIT-MILFORD TWP H.S. Senate SponsorsSen. Jason A. Barickman and Darin M. LaHood House Sponsors(Rep. Donald L. Moffitt-Patrick J. Verschoore) 8/26/2014SenatePublic Act . . . . . . . . . 98-1112 105 ILCS 5/19-1Amends the School Code. In a Section concerning the debt limitations of school districts, provides that, in addition to all other authority to issue bonds, Milford Township High School District 233 may issue bonds with an aggregate principal amount not to exceed $17,500,000 if certain conditions are met, including that (1) the voters of the district approve a proposition for the bond issuance at an election held on or after November 4, 2014 and (2) prior to the issuance of the bonds, the school board determines, by resolution, that the building and equipping of a new school building is required as a result of the age and condition of an existing school building and the issuance of bonds is authorized by a statute that exempts the debt incurred on the bonds from the district's statutory debt limitation. Provides that the debt incurred on the bonds shall not be considered indebtedness for purposes of any statutory debt limitation. Requires the bonds to mature within not to exceed 25 years from their date. Effective immediately.House Committee Amendment No. 1 Replaces everything after the enacting clause. Reinserts the provisions of the bill. Provides that in addition to all other authority to issue bonds, the community unit school district created in the territory comprising Milford Community Consolidated School District 280 and Milford Township High School District 233, as approved at the general primary election held on March 18, 2014 (rather than only Milford Township High School District 233), may issue bonds under the conditions of the underlying bill. Effective immediately.House Floor Amendment No. 5 Deletes reference to:105 ILCS 5/19-1Adds reference to:105 ILCS 5/11E-105Replaces everything after the enacting clause. Amends the Conversion and Formation of School Districts Article of the School Code. Requires the county clerk, upon resolution of a school board, to extend taxes to pay the principal of and interest on any general obligation bonds issued by a new school district exclusively to refund any bonded indebtedness of a district organized into the new district against all of the taxable property that was situated within the boundaries of the previously existing district as the boundaries existed at the time of the issuance of the bonded indebtedness being refunded; however, (i) the net interest rate on the refunding bonds may not exceed the net interest rate on the refunded bonds, (ii) the final maturity date of the refunding bonds may not extend beyond the final maturity date of the refunded bonds, and (iii) the tax levy to pay the refunding bonds in any levy year may not exceed the tax levy that would have been required to pay the refunded bonds for that levy year. Provides that these terms are applicable to districts that were created pursuant to a referendum held in November of 2008 and are inoperative after June 30, 2016. 2/7/2014SenateFiled with Secretary by Sen. Jason A. Barickman 2/7/2014SenateFirst Reading 2/7/2014SenateReferred to Assignments 2/19/2014SenateAssigned to Education 2/26/2014SenateDo Pass Education; 014-000-000 2/26/2014SenatePlaced on Calendar Order of 2nd Reading February 27, 2014 2/27/2014SenateSecond Reading 2/27/2014SenatePlaced on Calendar Order of 3rd Reading March 4, 2014 3/5/2014SenateThird Reading - Passed; 055-000-001 3/5/2014HouseArrived in House 3/5/2014HouseChief House Sponsor Rep. Josh Harms 3/5/2014HouseFirst Reading 3/5/2014HouseReferred to Rules Committee 4/23/2014HouseAssigned to Elementary & Secondary Education Committee 4/24/2014HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Josh Harms 4/24/2014HouseHouse Committee Amendment No. 1 Referred to Rules Committee 4/28/2014HouseHouse Committee Amendment No. 1 Rules Refers to Elementary & Secondary Education Committee 4/30/2014HouseHouse Committee Amendment No. 1 Adopted in Elementary & Secondary Education Committee; by Voice Vote 4/30/2014HouseDo Pass as Amended / Short Debate Elementary & Secondary Education Committee; 009-000-000 4/30/2014HousePlaced on Calendar 2nd Reading - Short Debate 5/8/2014HouseHouse Floor Amendment No. 2 Filed with Clerk by Rep. Donald L. Moffitt 5/8/2014HouseHouse Floor Amendment No. 2 Referred to Rules Committee 5/9/2014HouseAlternate Chief Sponsor Changed to Rep. Donald L. Moffitt 5/12/2014HouseHouse Floor Amendment No. 2 Rules Refers to Elementary & Secondary Education Committee 5/12/2014HouseHouse Floor Amendment No. 3 Filed with Clerk by Rep. Donald L. Moffitt 5/12/2014HouseHouse Floor Amendment No. 3 Referred to Rules Committee 5/13/2014HouseHouse Floor Amendment No. 4 Filed with Clerk by Rep. Donald L. Moffitt 5/13/2014HouseHouse Floor Amendment No. 4 Referred to Rules Committee 5/15/2014HouseAdded Alternate Chief Co-Sponsor Rep. Patrick J. Verschoore 5/20/2014HouseHouse Floor Amendment No. 2 Recommends Be Adopted Elementary & Secondary Education Committee; 013-000-000 5/21/2014HouseHouse Floor Amendment No. 5 Filed with Clerk by Rep. Donald L. Moffitt 5/21/2014HouseHouse Floor Amendment No. 5 Referred to Rules Committee 5/22/2014HouseSecond Reading - Short Debate 5/22/2014HouseHeld on Calendar Order of Second Reading - Short Debate 5/23/2014HouseFinal Action Deadline Extended-9(b) May 30, 2014 5/26/2014HouseHouse Floor Amendment No. 5 Recommends Be Adopted Rules Committee; 003-001-000 5/28/2014HouseHouse Floor Amendment No. 2 Withdrawn by Rep. Donald L. Moffitt 5/28/2014HouseHouse Floor Amendment No. 5 Adopted 5/28/2014HousePlaced on Calendar Order of 3rd Reading - Short Debate 5/28/2014SenateAdded as Co-Sponsor Sen. Darin M. LaHood 5/29/2014HouseThird Reading - Short Debate - Passed 108-006-000 5/29/2014SenateSecretary's Desk - Concurrence House Amendment(s) 1, 5 5/29/2014SenatePlaced on Calendar Order of Concurrence House Amendment(s) 1, 5 - May 30, 2014 5/29/2014SenateHouse Committee Amendment No. 1 Motion to Concur Filed with Secretary Sen. Jason A. Barickman 5/29/2014SenateHouse Committee Amendment No. 1 Motion to Concur Referred to Assignments 5/29/2014SenateHouse Floor Amendment No. 5 Motion to Concur Filed with Secretary Sen. Jason A. Barickman 5/29/2014SenateHouse Floor Amendment No. 5 Motion to Concur Referred to Assignments 5/30/2014SenateHouse Committee Amendment No. 1 Motion to Concur Assignments Referred to State Government and Veterans Affairs 5/30/2014SenateHouse Floor Amendment No. 5 Motion to Concur Assignments Referred to State Government and Veterans Affairs 5/30/2014SenateHouse Committee Amendment No. 1 Motion To Concur Recommended Do Adopt State Government and Veterans Affairs; 010-000-000 5/30/2014SenateHouse Floor Amendment No. 5 Motion To Concur Recommended Do Adopt State Government and Veterans Affairs; 010-000-000 5/30/2014SenateHouse Committee Amendment No. 1 Senate Concurs 056-000-000 5/30/2014SenateHouse Floor Amendment No. 5 Senate Concurs 056-000-000 5/30/2014SenatePassed Both Houses 6/27/2014SenateSent to the Governor 8/26/2014SenateGovernor Approved 8/26/2014SenateEffective Date January 1, 2015 8/26/2014SenatePublic Act . . . . . . . . . 98-1112