The Panel may prepare and file with the State Superintendent a proposal for emergency financial assistance for the school district and for the operations budget of the Panel, in accordance with Section 1B-8 of this Code. A school district may receive both a loan and a grant.
105 ILCS 5/1H-65
School district emergency financial assistance; grants and loans
Known as the Financial Oversight Panel Law
The act spans §§ 105-5-1h-1 to 105-5-1h-95 (23 sections).
P.A. 97-429, eff. 8-16-11.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.