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Code · Illinois · Chapter 35 — REVENUE · Act 200

Sec. 18-241. School Finance Authority and Financial Oversight Panel.

123 words·~1 min read·/il/chapter-35/act-200/18-241

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Sec. 18-241. School Finance Authority and Financial Oversight Panel.
(a)A School Finance Authority established under Article 1E of the School Code shall not be a taxing district for purposes of this Law. A Financial Oversight Panel established under Article 1H of the School Code shall not be a taxing district for purposes of this Law.
(b)This Law shall not apply to the extension of taxes for a school district for the levy year in which a School Finance Authority for the district is created pursuant to Article 1E of the School Code. This Law shall not apply to the extension of taxes for the purpose of repaying an emergency financial assistance loan levied pursuant to Section 1H-65 of the School Code.
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