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| Public Act 096-1488 | ||||
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AN ACT concerning finance.
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Be it enacted by the People of the State of Illinois, | ||||
represented in the General Assembly:
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Section 5. The General Obligation Bond Act is amended by | ||||
changing Section 13 as follows:
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(30 ILCS 330/13) (from Ch. 127, par. 663)
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Sec. 13. Appropriation of Proceeds from Sale of Bonds.
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(a) At all times, the proceeds from the sale of Bonds | ||||
issued pursuant
to this Act are subject to appropriation by the | ||||
General Assembly and,
except as provided in Section 7.2, may be | ||||
obligated or expended only
with the written approval of the | ||||
Governor, in such amounts, at such times,
and for such purposes | ||||
as the respective
State agencies, as defined in Section 1-7 of | ||||
the Illinois State Auditing
Act, as amended, deem necessary or | ||||
desirable for the specific purposes
contemplated in Sections 2 | ||||
through 8 of this Act.
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(b) Proceeds from the sale of Bonds for the purpose of | ||||
development of
coal and alternative forms of energy shall be | ||||
expended in such amounts and
at such times as the Department of | ||||
Commerce and Economic Opportunity, with the
advice and | ||||
recommendation of the Illinois Coal Development Board for coal
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development projects, may deem necessary and desirable for the | ||||
specific
purpose contemplated by Section 7 of this Act. In | ||||
considering the approval
of projects to be funded, the | ||
Department of Commerce and
Economic Opportunity shall give
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special
consideration to projects designed to remove sulfur and | ||
other pollutants in
the preparation and utilization of coal, | ||
and in the use and operation of
electric utility generating | ||
plants and industrial facilities which utilize
Illinois coal as | ||
their primary source of fuel.
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(c) Except as directed in subsection (c-1) or (c-2), any | ||
Any monies received by any officer or employee of the state
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representing a reimbursement of expenditures previously paid | ||
from general
obligation bond proceeds shall be deposited into | ||
the General Obligation
Bond Retirement and Interest Fund | ||
authorized in Section 14 of this Act.
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(c-1) Any money received by the Department of | ||
Transportation as reimbursement for expenditures for high | ||
speed rail purposes pursuant to appropriations from the | ||
Transportation Bond, Series B Fund for (i) CREATE (Chicago | ||
Region Environmental and Transportation Efficiency), (ii) High | ||
Speed Rail, or (iii) AMTRAK projects authorized by the federal | ||
government under the provisions of the American Recovery and | ||
Reinvestment Act of 2009 or the Safe Accountable Flexible | ||
Efficient Transportation Equity Act—A Legacy for Users | ||
(SAFETEA-LU), or any successor federal transportation | ||
authorization Act, shall be deposited into the Federal High | ||
Speed Rail Trust Fund. | ||
(c-2) Any money received by the Department of | ||
Transportation as reimbursement for expenditures for transit | ||
capital purposes pursuant to appropriations from the | ||
Transportation Bond, Series B Fund for projects authorized by | ||
the federal government under the provisions of the American | ||
Recovery and Reinvestment Act of 2009 or the Safe Accountable | ||
Flexible Efficient Transportation Equity Act—A Legacy for | ||
Users (SAFETEA-LU), or any successor federal transportation | ||
authorization Act, shall be deposited into the Federal Mass | ||
Transit Trust Fund. | ||
(Source: P.A. 93-2, eff. 4-7-03; 94-793, eff. 5-19-06.)
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Section 99. Effective date. This Act takes effect upon | ||
becoming law.
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