SCH CD-REIMBURSE ROE-BORROWING

Amends the School Code. Requires the State Board of Education to reimburse regional offices of education, from appropriations from State general revenue funds, for all interest paid from borrowing or establishing a line of credit for the purpose of maintaining operations and services. Provides that payments are subject to appropriation of moneys for this purpose from the General Revenue Fund and must be distributed to regional offices of education upon certification by the State Superintendent of Education of the amount of interest paid by the regional superintendent of schools as a result of borrowing or establishing a line of credit due to delayed State payments. Effective immediately.