093_HB3740
BOB093 00155 MJD 00155 b
1 AN ACT concerning bonds.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 ARTICLE 1
5 Section 5. THe General Obligation Bond Act is amended by
6 changing Sections 2, 3, and 6 as follows:
7 (30 ILCS 330/2) (from Ch. 127, par. 652)
8 Sec. 2. Authorization for Bonds. The State of Illinois
9 is authorized to issue, sell and provide for the retirement
10 of General Obligation Bonds of the State of Illinois for the
11 categories and specific purposes expressed in Sections 2
12 through 8 of this Act, in the total amount of $17,088,128,969
13 $17,658,149,369 $16,908,149,369 $16,015,007,500.
14 The bonds authorized in this Section 2 and in Section 16
15 of this Act are herein called "Bonds".
16 Of the total amount of Bonds authorized in this Act, up
17 to $2,200,000,000 in aggregate original principal amount may
18 be issued and sold in accordance with the Baccalaureate
19 Savings Act in the form of General Obligation College Savings
20 Bonds.
21 Of the total amount of Bonds authorized in this Act, up
22 to $300,000,000 in aggregate original principal amount may be
23 issued and sold in accordance with the Retirement Savings Act
24 in the form of General Obligation Retirement Savings Bonds.
25 The issuance and sale of Bonds pursuant to the General
26 Obligation Bond Act is an economical and efficient method of
27 financing the capital and general operating needs of the
28 State. This Act will permit the issuance of a multi-purpose
29 General Obligation Bond with uniform terms and features.
30 This will not only lower the cost of registration but also
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1 reduce the overall cost of issuing debt by improving the
2 marketability of Illinois General Obligation Bonds.
3 (Source: P.A. 91-39, eff. 6-15-99; 91-53, eff 6-30-99;
4 91-710, eff. 5-17-00; 92-13, eff. 6-22-01; 92-596, eff.
5 6-28-02; 92-598, eff. 6-28-02; revised 10-8-02.)
6 (30 ILCS 330/3) (from Ch. 127, par. 653)
7 Sec. 3. Capital Facilities. The amount of $7,481,214,969
8 $7,320,235,369 is authorized to be used for the acquisition,
9 development, construction, reconstruction, improvement,
10 financing, architectural planning and installation of capital
11 facilities within the State, consisting of buildings,
12 structures, durable equipment, land, and interests in land
13 for the following specific purposes:
14 (a) $2,258,590,100 $2,211,228,000 for educational
15 purposes by State universities and colleges, the Illinois
16 Community College Board created by the Public Community
17 College Act and for grants to public community colleges
18 as authorized by Sections 5-11 and 5-12 of the Public
19 Community College Act;
20 (b) $1,632,940,000 $1,607,420,000 for correctional
21 purposes at State prison and correctional centers;
22 (c) $548,202,500 $531,175,000 for open spaces,
23 recreational and conservation purposes and the protection
24 of land;
25 (d) $614,197,000 $589,917,000 for child care
26 facilities, mental and public health facilities, and
27 facilities for the care of disabled veterans and their
28 spouses;
29 (e) $1,481,780,000 $1,455,990,000 for use by the
30 State, its departments, authorities, public corporations,
31 commissions and agencies;
32 (f) $818,100 for cargo handling facilities at port
33 districts and for breakwaters, including harbor
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1 entrances, at port districts in conjunction with
2 facilities for small boats and pleasure crafts;
3 (g) $215,657,000 $204,657,000 for water resource
4 management projects;
5 (h) $16,940,269 for the provision of facilities for
6 food production research and related instructional and
7 public service activities at the State universities and
8 public community colleges;
9 (i) $41,000,000 $36,000,000 for grants by the
10 Secretary of State, as State Librarian, for central
11 library facilities authorized by Section 8 of the
12 Illinois Library System Act and for grants by the Capital
13 Development Board to units of local government for public
14 library facilities;
15 (j) $25,000,000 for the acquisition, development,
16 construction, reconstruction, improvement, financing,
17 architectural planning and installation of capital
18 facilities consisting of buildings, structures, durable
19 equipment and land for grants to counties, municipalities
20 or public building commissions with correctional
21 facilities that do not comply with the minimum standards
22 of the Department of Corrections under Section 3-15-2 of
23 the Unified Code of Corrections;
24 (k) $5,000,000 for grants in fiscal year 1988 by
25 the Department of Conservation for improvement or
26 expansion of aquarium facilities located on property
27 owned by a park district;
28 (l) $432,590,000 to State agencies for grants to
29 local governments for the acquisition, financing,
30 architectural planning, development, alteration,
31 installation, and construction of capital facilities
32 consisting of buildings, structures, durable equipment,
33 and land; and
34 (m) $208,500,000 $203,500,000 for the Illinois Open
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1 Land Trust Program as defined by the Illinois Open Land
2 Trust Act.
3 The amounts authorized above for capital facilities may
4 be used for the acquisition, installation, alteration,
5 construction, or reconstruction of capital facilities and for
6 the purchase of equipment for the purpose of major capital
7 improvements which will reduce energy consumption in State
8 buildings or facilities.
9 (Source: P.A. 91-39, 6-15-99; 91-53, eff. 6-30-99; 91-710,
10 eff. 5-17-00; 92-13, eff. 6-22-01; 92-598, eff. 6-28-02.)
11 (30 ILCS 330/6) (from Ch. 127, par. 656)
12 Sec. 6. Anti-Pollution.
13 (a) The amount of $319,815,000 $300,815,000 is
14 authorized for allocation by the Environmental Protection
15 Agency for grants or loans to units of local government in
16 such amounts, at such times and for such purpose as the
17 Agency deems necessary or desirable for the planning,
18 financing, and construction of municipal sewage treatment
19 works and solid waste disposal facilities and for making of
20 deposits into the Water Revolving Fund and the U.S.
21 Environmental Protection Fund to provide assistance in
22 accordance with the provisions of Title IV-A of the
23 Environmental Protection Act.
24 (b) The amount of $160,500,000 is authorized for
25 allocation by the Environmental Protection Agency for payment
26 of claims submitted to the State and approved for payment
27 under the Leaking Underground Storage Tank Program
28 established in Title XVI of the Environmental Protection Act.
29 (Source: P.A. 91-39, eff. 6-15-99; 91-710, eff. 5-17-00;
30 92-13, eff. 6-22-01; 92-598, eff. 6-28-02.)
31 ARTICLE 2
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1 Section 5. The Build Illinois Bond Act is amended by
2 changing Sections 2 and 4 as follows:
3 (30 ILCS 425/2) (from Ch. 127, par. 2802)
4 Sec. 2. Authorization for Bonds. The State of Illinois
5 is authorized to issue, sell and provide for the retirement
6 of limited obligation bonds, notes and other evidences of
7 indebtedness of the State of Illinois in the total principal
8 amount of $3,928,509,000 $3,805,509,000 herein called
9 "Bonds". Such authorized amount of Bonds shall be reduced
10 from time to time by amounts, if any, which are equal to the
11 moneys received by the Department of Revenue in any fiscal
12 year pursuant to Section 3-1001 of the "Illinois Vehicle
13 Code", as amended, in excess of the Annual Specified Amount
14 (as defined in Section 3 of the "Retailers' Occupation Tax
15 Act", as amended) and transferred at the end of such fiscal
16 year from the General Revenue Fund to the Build Illinois
17 Purposes Fund as provided in Section 3-1001 of said Code;
18 provided, however, that no such reduction shall affect the
19 validity or enforceability of any Bonds issued prior to such
20 reduction. Such amount of authorized Bonds shall be
21 exclusive of any refunding Bonds issued pursuant to Section
22 15 of this Act and exclusive of any Bonds issued pursuant to
23 this Section which are redeemed, purchased, advance refunded,
24 or defeased in accordance with paragraph (f) of Section 4 of
25 this Act. Bonds shall be issued for the categories and
26 specific purposes expressed in Section 4 of this Act.
27 (Source: P.A. 91-39, eff. 6-15-99; 91-53, eff. 6-30-99;
28 91-709, eff. 5-17-00; 92-9, eff. 6-11-01; 92-598, 6-28-02.)
29 (30 ILCS 425/4) (from Ch. 127, par. 2804)
30 Sec. 4. Purposes of Bonds. Bonds shall be issued for the
31 following purposes and in the approximate amounts as set
32 forth below:
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1 (a) $2,453,000,000 $2,417,000,000 for the expenses of
2 issuance and sale of Bonds, including bond discounts, and for
3 planning, engineering, acquisition, construction,
4 reconstruction, development, improvement and extension of the
5 public infrastructure in the State of Illinois, including:
6 the making of loans or grants to local governments for waste
7 disposal systems, water and sewer line extensions and water
8 distribution and purification facilities, rail or air or
9 water port improvements, gas and electric utility extensions,
10 publicly owned industrial and commercial sites, buildings
11 used for public administration purposes and other public
12 infrastructure capital improvements; the making of loans or
13 grants to units of local government for financing and
14 construction of wastewater facilities; refinancing or
15 retiring bonds issued between January 1, 1987 and January 1,
16 1990 by home rule municipalities, debt service on which is
17 provided from a tax imposed by home rule municipalities prior
18 to January 1, 1990 on the sale of food and drugs pursuant to
19 Section 8-11-1 of the Home Rule Municipal Retailers'
20 Occupation Tax Act or Section 8-11-5 of the Home Rule
21 Municipal Service Occupation Tax Act; the making of deposits
22 not to exceed $70,000,000 in the aggregate into the Water
23 Pollution Control Revolving Fund to provide assistance in
24 accordance with the provisions of Title IV-A of the
25 Environmental Protection Act; the planning, engineering,
26 acquisition, construction, reconstruction, alteration,
27 expansion, extension and improvement of highways, bridges,
28 structures separating highways and railroads, rest areas,
29 interchanges, access roads to and from any State or local
30 highway and other transportation improvement projects which
31 are related to economic development activities; the making of
32 loans or grants for planning, engineering, rehabilitation,
33 improvement or construction of rail and transit facilities;
34 the planning, engineering, acquisition, construction,
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1 reconstruction and improvement of watershed, drainage, flood
2 control, recreation and related improvements and facilities,
3 including expenses related to land and easement acquisition,
4 relocation, control structures, channel work and clearing and
5 appurtenant work; the making of grants for improvement and
6 development of zoos and park district field houses and
7 related structures; and the making of grants for improvement
8 and development of Navy Pier and related structures.
9 (b) $201,000,000 $186,000,000 for fostering economic
10 development and increased employment and the well being of
11 the citizens of Illinois, including: the making of grants for
12 improvement and development of McCormick Place and related
13 structures; the planning and construction of a
14 microelectronics research center, including the planning,
15 engineering, construction, improvement, renovation and
16 acquisition of buildings, equipment and related utility
17 support systems; the making of loans to businesses and
18 investments in small businesses; acquiring real properties
19 for industrial or commercial site development; acquiring,
20 rehabilitating and reconveying industrial and commercial
21 properties for the purpose of expanding employment and
22 encouraging private and other public sector investment in the
23 economy of Illinois; the payment of expenses associated with
24 siting the Superconducting Super Collider Particle
25 Accelerator in Illinois and with its acquisition,
26 construction, maintenance, operation, promotion and support;
27 the making of loans for the planning, engineering,
28 acquisition, construction, improvement and conversion of
29 facilities and equipment which will foster the use of
30 Illinois coal; the payment of expenses associated with the
31 promotion, establishment, acquisition and operation of small
32 business incubator facilities and agribusiness research
33 facilities, including the lease, purchase, renovation,
34 planning, engineering, construction and maintenance of
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1 buildings, utility support systems and equipment designated
2 for such purposes and the establishment and maintenance of
3 centralized support services within such facilities; and the
4 making of grants or loans to units of local government for
5 Urban Development Action Grant and Housing Partnership
6 programs.
7 (c) $1,112,358,100 $1,052,358,100 for the development
8 and improvement of educational, scientific, technical and
9 vocational programs and facilities and the expansion of
10 health and human services for all citizens of Illinois,
11 including: the making of construction and improvement grants
12 and loans to public libraries and library systems; the making
13 of grants and loans for planning, engineering, acquisition
14 and construction of a new State central library in
15 Springfield; the planning, engineering, acquisition and
16 construction of an animal and dairy sciences facility; the
17 planning, engineering, acquisition and construction of a
18 campus and all related buildings, facilities, equipment and
19 materials for Richland Community College; the acquisition,
20 rehabilitation and installation of equipment and materials
21 for scientific and historical surveys; the making of grants
22 or loans for distribution to eligible vocational education
23 instructional programs for the upgrading of vocational
24 education programs, school shops and laboratories, including
25 the acquisition, rehabilitation and installation of technical
26 equipment and materials; the making of grants or loans for
27 distribution to eligible local educational agencies for the
28 upgrading of math and science instructional programs,
29 including the acquisition of instructional equipment and
30 materials; miscellaneous capital improvements for
31 universities and community colleges including the planning,
32 engineering, construction, reconstruction, remodeling,
33 improvement, repair and installation of capital facilities
34 and costs of planning, supplies, equipment, materials,
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1 services, and all other required expenses; the making of
2 grants or loans for repair, renovation and miscellaneous
3 capital improvements for privately operated colleges and
4 universities and community colleges, including the planning,
5 engineering, acquisition, construction, reconstruction,
6 remodeling, improvement, repair and installation of capital
7 facilities and costs of planning, supplies, equipment,
8 materials, services, and all other required expenses; and the
9 making of grants or loans for distribution to local
10 governments for hospital and other health care facilities
11 including the planning, engineering, acquisition,
12 construction, reconstruction, remodeling, improvement, repair
13 and installation of capital facilities and costs of planning,
14 supplies, equipment, materials, services and all other
15 required expenses.
16 (d) $162,150,900 $150,150,900 for protection,
17 preservation, restoration and conservation of environmental
18 and natural resources, including: the making of grants to
19 soil and water conservation districts for the planning and
20 implementation of conservation practices and for funding
21 contracts with the Soil Conservation Service for watershed
22 planning; the making of grants to units of local government
23 for the capital development and improvement of recreation
24 areas, including planning and engineering costs, sewer
25 projects, including planning and engineering costs and water
26 projects, including planning and engineering costs, and for
27 the acquisition of open space lands, including the
28 acquisition of easements and other property interests of less
29 than fee simple ownership; the acquisition and related costs
30 and development and management of natural heritage lands,
31 including natural areas and areas providing habitat for
32 endangered species and nongame wildlife, and buffer area
33 lands; the acquisition and related costs and development and
34 management of habitat lands, including forest, wildlife
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1 habitat and wetlands; and the removal and disposition of
2 hazardous substances, including the cost of project
3 management, equipment, laboratory analysis, and contractual
4 services necessary for preventative and corrective actions
5 related to the preservation, restoration and conservation of
6 the environment, including deposits not to exceed $60,000,000
7 in the aggregate into the Hazardous Waste Fund and the
8 Brownfields Redevelopment Fund for improvements in accordance
9 with the provisions of Titles V and XVII of the Environmental
10 Protection Act.
11 (e) The amount specified in paragraph (a) above shall
12 include an amount necessary to pay reasonable expenses of
13 each issuance and sale of the Bonds, as specified in the
14 related Bond Sale Order (hereinafter defined).
15 (f) Any unexpended proceeds from any sale of Bonds which
16 are held in the Build Illinois Bond Fund may be used to
17 redeem, purchase, advance refund, or defease any Bonds
18 outstanding.
19 (Source: P.A. 91-39, eff. 6-15-99; 91-53, eff. 6-30-99;
20 91-709, eff. 5-17-00; 92-9, eff. 6-11-01; 92-598, eff.
21 6-28-02.)
22 Section 99. Effective date. This ACt takes effect upon
23 becoming law.