SCH CD-EXCESS CASH RESERVES House SponsorsRep. Mary E. Flowers 1/13/2021HouseSession Sine Die 105 ILCS 5/10-20.73 new105 ILCS 5/34-18.66 new Amends the School Code. Provides that if a school district has excess cash reserves, the school district must either: (i) reduce the amount of the tax levy for the following levy year by the amount of the excess cash reserves; or (ii) submit a report to the State Board of Education detailing the purpose and utilization timeline for those excess cash reserves. Provides that "excess cash reserves" means the amount of money in a working cash fund that exceeds 100% of the operating costs of the school district based on the preceding school year. Effective immediately. 2/14/2020HouseFiled with the Clerk by Rep. Mary E. Flowers 2/18/2020HouseFirst Reading 2/18/2020HouseReferred to Rules Committee 1/13/2021HouseSession Sine Die