Illinois General Assembly - Bill Status for SB2005
Illinois General Assembly
  Home     Legislation & Laws     Senate     House     My Legislation     Site Map    

Previous General Assemblies

 Bill Status of SB2005  101st General Assembly

Short Description:  RTA&CTA-NOTES & LINE OF CREDIT

Senate Sponsors
Sen. Don Harmon

Last Action
DateChamber Action
  1/13/2021SenateSession Sine Die

Statutes Amended In Order of Appearance
70 ILCS 3605/12afrom Ch. 111 2/3, par. 312a
70 ILCS 3615/4.04from Ch. 111 2/3, par. 704.04


Synopsis As Introduced
Amends the Metropolitan Transit Authority Act and Regional Transportation Authority Act. Establishes procedures for repayment of defaulted interim financing notes issued by the Chicago Transit Authority and defaulted working cash notes issued by the Regional Transportation Authority, both of which State money in the State treasury was invested. Provides that the Regional Transportation Authority may issue, sell, and deliver additional working cash notes and establish lines of credit (rather than only working cash notes) before July 1, 2022 (rather than July 1, 2018) that are over and above and in addition to the $100,000,000 bond or note authorization. Establishes procedures for establishment of lines of credit. Requires notice to the Governor's Office of Management and Budget and State Comptroller before establishing a line of credit and provides that money borrowed under a line of credit are general obligations of the Authority that are secured by the full faith and credit of the Authority. Effective immediately.

Senate Committee Amendment No. 1
Deletes reference to:
70 ILCS 3605/12afrom Ch. 111 2/3, par. 312a
70 ILCS 3615/4.04from Ch. 111 2/3, par. 704.04
Adds reference to:
70 ILCS 3605/1from Ch. 111 2/3, par. 301

Replaces everything after the enacting clause. Amends the Metropolitan Transit Authority Act. Makes a technical change in a Section concerning the short title.

Actions 
DateChamber Action
  2/15/2019SenateFiled with Secretary by Sen. Martin A. Sandoval
  2/15/2019SenateFirst Reading
  2/15/2019SenateReferred to Assignments
  3/5/2019SenateAssigned to Transportation
  3/12/2019SenateTo Subcommittee on Special Issues (TR)
  3/22/2019SenateRule 2-10 Committee Deadline Established As March 28, 2019
  3/28/2019SenateRule 3-9(a) / Re-referred to Assignments
  1/1/2020SenateChief Sponsor Changed to Sen. John J. Cullerton
  1/20/2020SenateChief Sponsor Changed to Sen. Don Harmon
  2/25/2020SenateRe-referred to Executive
  2/25/2020SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Don Harmon
  2/25/2020SenateSenate Committee Amendment No. 1 Referred to Assignments
  2/26/2020SenateSenate Committee Amendment No. 1 Assignments Refers to Executive
  3/4/2020SenateSenate Committee Amendment No. 1 Adopted
  3/4/2020SenateDo Pass as Amended Executive; 016-000-000
  3/4/2020SenatePlaced on Calendar Order of 2nd Reading March 5, 2020
  3/25/2020SenateRule 2-10 Third Reading Deadline Established As May 7, 2020
  4/12/2020SenatePursuant to Senate Rule 3-9(b) / Referred to Assignments
  4/23/2020SenateRule 2-10 Third Reading Deadline Established As May 15, 2020
  4/30/2020SenateRule 2-10 Third Reading Deadline Established As May 22, 2020
  5/7/2020SenateRule 2-10 Third Reading Deadline Established As May 29, 2020
  5/15/2020SenateRule 2-10 Third Reading/Passage Deadline Established As May 31, 2020
  1/13/2021SenateSession Sine Die

Back To Top

Home | Legislation & Laws | House | Senate | My Legislation | Disclaimers | Email

  Legislative Information System logo This site is maintained for the Illinois General Assembly by the
Legislative Information System, 705 Stratton Building, Springfield, Illinois 62706
Contact ILGA Webmaster