Illinois General Assembly - Bill Status for HB4225
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 Bill Status of HB4225  100th General Assembly


Short Description:  MUNI CD-ASSIGNMENT OF RECEIPTS

House Sponsors
Rep. Robert Martwick and David S. Olsen

Last Action
DateChamber Action
  1/16/2018HouseReferred to Rules Committee

Statutes Amended In Order of Appearance
65 ILCS 5/8-13-5
65 ILCS 5/8-13-10


Synopsis As Introduced
Amends the Illinois Municipal Code. Provides that home rule municipalities with a population over 1,000,000 may only authorize the conveyance of all or any portion of sales tax revenues to (i) corporations, trusts, or other entities that have been established for the limited purpose of issuing obligations for the benefit of a home rule municipality, or (ii) a bank or trust company in its capacity as trustee for obligations issued by the bank or trust company for the benefit of a home rule municipality. Effective immediately.

Actions 
DateChamber Action
  1/9/2018HouseFiled with the Clerk by Rep. Robert Martwick
  1/16/2018HouseFirst Reading
  1/16/2018HouseReferred to Rules Committee
  3/7/2018HouseAdded Co-Sponsor Rep. David S. Olsen

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