---
type: "Bill"
title: "SCH CD-FINANC OVERSIGHT PANEL"
description: "Creates the Financial Oversight Panel Law of the School Code. Allows a school district (other than the Chicago school district) to petition the State Board of Education for the establishment of a Financial Oversight Panel for the district. Allows the State Board to establish a Financial Oversight Panel without a petition from a district. Contains provisions concerning duties of the district; members and meetings of a Panel; powers of a Panel; officers of a Panel; collective bargaining agreements; deposits and investments; cash and bank accounts; the financial, management, and budgetary structure; the School District Emergency Financial Assistance Fund; grants and loans; the issuance of bonds; a tax levy; a debt service fund; a debt service reserve fund; bond anticipation notes; tax anticipation warrants; reports; a Panel audit; Panel property being exempt from taxation; sanctions; and abolition of a Panel. Makes related changes in the School Code and the Property Tax Code. Effective July 1, 2011."
jurisdiction: "us/states/il"
legislature: "Illinois General Assembly"
session: "97th"
identifier: "SB 2149"
citation: "Illinois SB 2149 (97th)"
classification: ["bill"]
subjects: []
status: "enacted"
primary_sponsors: []
version_count: 3
action_count: 44
vote_count: 2
first_action: "2011-02-10"
last_action: "2011-08-16"
source: "openstates"
source_identifier: "ocd-bill/2e43df5a-3977-489f-8664-c95dbd52db54"
source_url: "http://ilga.gov/legislation/BillStatus.asp?DocNum=2149&GAID=11&DocTypeID=SB&LegId=58343&SessionID=84&GA=97"
source_hash: "b23cc0250e588deb30b0d16bd4c36f8c03447c81e179bbb78ade1386c0181e6d"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-il"]
---

# Illinois SB 2149 (97th) — SCH CD-FINANC OVERSIGHT PANEL

Creates the Financial Oversight Panel Law of the School Code. Allows a school district (other than the Chicago school district) to petition the State Board of Education for the establishment of a Financial Oversight Panel for the district. Allows the State Board to establish a Financial Oversight Panel without a petition from a district. Contains provisions concerning duties of the district; members and meetings of a Panel; powers of a Panel; officers of a Panel; collective bargaining agreements; deposits and investments; cash and bank accounts; the financial, management, and budgetary structure; the School District Emergency Financial Assistance Fund; grants and loans; the issuance of bonds; a tax levy; a debt service fund; a debt service reserve fund; bond anticipation notes; tax anticipation warrants; reports; a Panel audit; Panel property being exempt from taxation; sanctions; and abolition of a Panel. Makes related changes in the School Code and the Property Tax Code. Effective July 1, 2011.

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **Introduced** (filed) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09700SB2149&GA=97&SessionId=84&DocTypeId=SB&LegID=58343&DocNum=2149&GAID=11&Session=&print=true)
2. **Engrossed** (committee substitute) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09700SB2149eng&GA=97&SessionId=84&DocTypeId=SB&LegID=58343&DocNum=2149&GAID=11&Session=&print=true)
3. **Enrolled** (enrolled) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09700SB2149enr&GA=97&SessionId=84&DocTypeId=SB&LegID=58343&DocNum=2149&GAID=11&Session=&print=true)

## Votes

- Third Reading — **36–19** (pass) · upper
- Third Reading — **72–39** (pass) · lower

## Sponsors

- John M. Sullivan — primary (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2011-02-10** Filed with Secretary by Sen. John M. Sullivan `filing`
- **2011-02-10** First Reading `reading-1`
- **2011-02-10** Referred to Assignments `referral-committee`
- **2011-03-01** Chief Sponsor Changed to Sen. Dan Kotowski
- **2011-03-01** Chief Sponsor Changed to Sen. John M. Sullivan
- **2011-03-02** Assigned to Executive `referral-committee`
- **2011-03-10** Postponed - Executive
- **2011-03-15** Senate Committee Amendment No. 1 Filed with Secretary by Sen. John M. Sullivan `amendment-introduction`
- **2011-03-15** Senate Committee Amendment No. 1 Referred to Assignments `referral-committee`
- **2011-03-15** Senate Committee Amendment No. 1 Assignments Refers to Executive
- **2011-03-16** Senate Committee Amendment No. 1 Adopted `amendment-passage`
- **2011-03-17** Do Pass as Amended Executive; 012-003-000 `committee-passage`
- **2011-03-17** Placed on Calendar Order of 2nd Reading March 17, 2011
- **2011-04-05** Senate Floor Amendment No. 2 Filed with Secretary by Sen. John M. Sullivan `amendment-introduction`
- **2011-04-05** Senate Floor Amendment No. 2 Referred to Assignments `referral-committee`
- **2011-04-06** Senate Floor Amendment No. 2 Assignments Refers to Executive
- **2011-04-06** Senate Floor Amendment No. 2 Recommend Do Adopt Executive; 015-000-000
- **2011-04-08** Second Reading `reading-2`
- **2011-04-08** Senate Floor Amendment No. 2 Adopted; Sullivan `amendment-passage`
- **2011-04-08** Placed on Calendar Order of 3rd Reading April 11, 2011
- **2011-04-08** Senate Floor Amendment No. 3 Filed with Secretary by Sen. John M. Sullivan `amendment-introduction`
- **2011-04-08** Senate Floor Amendment No. 3 Referred to Assignments `referral-committee`
- **2011-04-11** Senate Floor Amendment No. 3 Assignments Refers to Executive
- **2011-04-13** Senate Floor Amendment No. 3 Recommend Do Adopt Executive; 012-000-000
- **2011-04-14** Recalled to Second Reading `reading-2`
- **2011-04-14** Senate Floor Amendment No. 3 Adopted; Sullivan `amendment-passage`
- **2011-04-14** Placed on Calendar Order of 3rd Reading
- **2011-04-14** Third Reading - Passed; 036-019-001 `reading-3, passage`
- **2011-04-15** Arrived in House `introduction`
- **2011-04-15** Placed on Calendar Order of First Reading `reading-1`
- **2011-04-15** Chief House Sponsor Rep. Roger L. Eddy
- **2011-04-15** First Reading `reading-1`
- **2011-04-15** Referred to Rules Committee `referral-committee`
- **2011-04-25** Assigned to Elementary & Secondary Education Committee `referral-committee`
- **2011-05-11** Do Pass / Short Debate Elementary & Secondary Education Committee; 016-006-000 `committee-passage`
- **2011-05-11** Placed on Calendar 2nd Reading - Short Debate
- **2011-05-16** Second Reading - Short Debate `reading-2`
- **2011-05-16** Placed on Calendar Order of 3rd Reading - Short Debate
- **2011-05-20** Third Reading - Short Debate - Passed 072-039-000 `reading-3, passage`
- **2011-05-20** Passed Both Houses
- **2011-06-17** Sent to the Governor `executive-receipt`
- **2011-08-16** Governor Approved `executive-signature`
- **2011-08-16** Effective Date August 16, 2011
- **2011-08-16** Public Act . . . . . . . . . 97-0429 `became-law`

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/2e43df5a-3977-489f-8664-c95dbd52db54`. Confidence: reported (aggregated from official Illinois legislature records).