Bill Status of SB 415   96th General Assembly

Short Description:  FINANCE-TECH

Senate Sponsors
Sen. Jeffrey M. Schoenberg-Don Harmon

House Sponsors
(Rep. Kevin A. McCarthy-Kathleen A. Ryg-Karen May-Elizabeth Coulson-Sara Feigenholtz, Barbara Flynn Currie, Karen A. Yarbrough, Julie Hamos, Eddie Washington, LaShawn K. Ford, John D'Amico and Patricia R. Bellock)


Last Action  View All Actions

DateChamber Action
  1/12/2011SenateSession Sine Die

Statutes Amended In Order of Appearance
30 ILCS 330/1from Ch. 127, par. 651

Synopsis As Introduced
Amends the General Obligation Bond Act. Makes a technical change in a Section concerning the short title.

House Floor Amendment No. 2
Deletes reference to:
30 ILCS 330/1
Adds reference to:
30 ILCS 330/2from Ch. 127, par. 652
30 ILCS 330/7.2
30 ILCS 330/9from Ch. 127, par. 659
30 ILCS 330/11from Ch. 127, par. 661
40 ILCS 5/2-124from Ch. 108 1/2, par. 2-124
40 ILCS 5/14-131from Ch. 108 1/2, par. 14-131
40 ILCS 5/15-155from Ch. 108 1/2, par. 15-155
40 ILCS 5/16-158from Ch. 108 1/2, par. 16-158
40 ILCS 5/18-131from Ch. 108 1/2, par. 18-131
40 ILCS 15/1.1
40 ILCS 15/1.2

Replaces everything after the enacting clause. Amends the General Obligation Bond Act. Authorizes an additional $2,300,000,000 in Bonds to be used for the purpose of making a portion of the State's Fiscal Year 2010 required contributions to designated retirement systems. Provides that the terms of the Bonds may not exceed 5 years from issuance, and the Bonds must be issued with principal or mandatory redemption amounts in equal amounts, with payment of principal beginning in the first State fiscal year following the fiscal year of issuance. Makes other changes. Amends the Illinois Pension Code. In provisions of each of the 5 State-funded retirement systems concerning the State contribution, (i) provides that for purposes of determining the required State contribution to the System, the value of the System's assets shall be equal to the actuarial value of the System's assets and provides guidelines for calculating the actuarial value of the System's assets and (ii) makes changes concerning the required State contribution to the systems for State fiscal year 2010. Amends the State Pension Funds Continuing Appropriation Act. Limits the continuing appropriations for the State-funded retirement systems for fiscal year 2010 to the required State contribution. Effective immediately.

House Floor Amendment No. 3
In provisions amending the State Pension Funds Continuing Appropriation Act, provides that the continuing appropriations are equal to the amount certified by the Systems on or before December 31, 2008, less the gross proceeds of the bonds sold in fiscal year 2010 (rather than the continuing appropriations shall not exceed the required State contributions).

House Floor Amendment No. 4
Provides that it is the intention of the General Assembly in enacting this legislation that, by applying the net proceeds of the sale of general obligation bonds in the amount of $2,230,000,000 to fund pension obligations of the State, an equivalent amount will be made available for the State's operational expenses in these times of fiscal crisis to help fund programs and services provided by community-based human service providers to ensure that we continue assisting the most vulnerable of our citizens.

Actions 
DateChamber Action
  2/6/2009SenateFiled with Secretary by Sen. John J. Cullerton
  2/6/2009SenateFirst Reading
  2/6/2009SenateReferred to Assignments
  3/5/2009SenateAssigned to Executive
  3/12/2009SenateDo Pass Executive; 012-000-000
  3/12/2009SenatePlaced on Calendar Order of 2nd Reading March 17, 2009
  3/24/2009SenateSecond Reading
  3/24/2009SenatePlaced on Calendar Order of 3rd Reading March 25, 2009
  3/25/2009SenateThird Reading - Passed; 051-007-000
  3/25/2009HouseArrived in House
  3/25/2009HousePlaced on Calendar Order of First Reading
  3/25/2009HouseChief House Sponsor Rep. Michael J. Madigan
  3/25/2009HouseAdded Alternate Chief Co-Sponsor Rep. Barbara Flynn Currie
  3/25/2009HouseFirst Reading
  3/25/2009HouseReferred to Rules Committee
  3/25/2009HouseAssigned to Executive Committee
  3/31/2009HouseDo Pass / Short Debate Executive Committee; 007-004-000
  3/31/2009HousePlaced on Calendar 2nd Reading - Short Debate
  3/31/2009HouseSecond Reading - Short Debate
  3/31/2009HouseHeld on Calendar Order of Second Reading - Short Debate
  4/30/2009HouseSecond Reading - Short Debate
  4/30/2009HouseHeld on Calendar Order of Second Reading - Short Debate
  5/22/2009HouseFinal Action Deadline Extended-9(b) May 29, 2009
  5/26/2009HouseAlternate Chief Co-Sponsor Removed Rep. Barbara Flynn Currie
  5/26/2009HouseAlternate Chief Sponsor Changed to Rep. Barbara Flynn Currie
  5/29/2009HouseHouse Floor Amendment No. 1 Filed with Clerk by Rep. John E. Bradley
  5/29/2009HouseHouse Floor Amendment No. 1 Referred to Rules Committee
  5/29/2009HouseFinal Action Deadline Extended-9(b) May 31, 2009
  5/29/2009HouseHouse Floor Amendment No. 1 Rules Refers to Revenue & Finance Committee
  5/30/2009HouseHouse Floor Amendment No. 1 Recommends Be Adopted Revenue & Finance Committee; 007-005-000
  5/30/2009HouseAlternate Chief Sponsor Changed to Rep. John E. Bradley
  5/30/2009HouseAdded Alternate Chief Co-Sponsor Rep. Barbara Flynn Currie
  5/30/2009SenateChief Sponsor Changed to Sen. Jeffrey M. Schoenberg
  5/30/2009HouseAdded Alternate Chief Co-Sponsor Rep. Karen A. Yarbrough
  5/30/2009HouseAdded Alternate Chief Co-Sponsor Rep. Karen May
  5/30/2009HouseAdded Alternate Chief Co-Sponsor Rep. Julie Hamos
  5/31/2009HouseFinal Action Deadline Extended-9(b) November 30, 2009
  6/23/2009HouseLegislation Considered in Special Session No. 1
  6/23/2009HousePlaced on Calendar 2nd Reading - Short Debate
  6/24/2009HouseHouse Floor Amendment No. 2 Filed with Clerk by Rep. Kevin A. McCarthy
  6/24/2009HouseHouse Floor Amendment No. 2 Referred to Rules Committee
  6/24/2009HouseHouse Floor Amendment No. 2 Rules Refers to Personnel and Pensions Committee
  6/24/2009HouseHouse Floor Amendment No. 3 Filed with Clerk by Rep. Kevin A. McCarthy
  6/24/2009HouseHouse Floor Amendment No. 3 Referred to Rules Committee
  6/24/2009HouseHouse Floor Amendment No. 3 Recommends Be Adopted Rules Committee; 004-000-000
  6/24/2009HouseHouse Floor Amendment No. 2 Recommends Be Adopted Personnel and Pensions Committee; 006-001-003
  6/24/2009HouseAlternate Chief Sponsor Changed to Rep. Kevin A. McCarthy
  6/24/2009HouseHouse Floor Amendment No. 1 Withdrawn by Rep. John E. Bradley
  6/24/2009HouseHouse Floor Amendment No. 2 Adopted by Voice Vote
  6/24/2009HouseHouse Floor Amendment No. 3 Adopted by Voice Vote
  6/24/2009HouseHeld on Calendar Order of Second Reading - Short Debate
  6/29/2009HouseHouse Floor Amendment No. 4 Filed with Clerk by Rep. Kevin A. McCarthy
  6/29/2009HouseHouse Floor Amendment No. 4 Referred to Rules Committee
  6/29/2009HouseHouse Floor Amendment No. 4 Recommends Be Adopted Rules Committee; 005-000-000
  6/29/2009HouseAlternate Chief Co-Sponsor Removed Rep. Barbara Flynn Currie
  6/29/2009HouseAdded Alternate Co-Sponsor Rep. Barbara Flynn Currie
  6/29/2009HouseAlternate Chief Co-Sponsor Removed Rep. Karen A. Yarbrough
  6/29/2009HouseAdded Alternate Co-Sponsor Rep. Karen A. Yarbrough
  6/29/2009HouseAlternate Chief Co-Sponsor Removed Rep. Julie Hamos
  6/29/2009HouseAdded Alternate Co-Sponsor Rep. Julie Hamos
  6/29/2009HouseAdded Alternate Chief Co-Sponsor Rep. Kathleen A. Ryg
  6/29/2009HouseAdded Alternate Chief Co-Sponsor Rep. Elizabeth Coulson
  6/29/2009HouseAdded Alternate Chief Co-Sponsor Rep. Sara Feigenholtz
  6/29/2009HouseAdded Alternate Co-Sponsor Rep. Eddie Washington
  6/29/2009HouseAdded Alternate Co-Sponsor Rep. LaShawn K. Ford
  6/29/2009HouseAdded Alternate Co-Sponsor Rep. John D'Amico
  6/29/2009HouseHouse Floor Amendment No. 4 Adopted by Voice Vote
  6/29/2009HousePlaced on Calendar Order of 3rd Reading - Short Debate
  6/29/2009House3/5 Vote Required
  6/29/2009HouseThird Reading - Short Debate - Passed 101-007-000
  6/29/2009HouseAdded Alternate Co-Sponsor Rep. Patricia R. Bellock
  6/30/2009SenateLegislation Considered in Special Session No. 1
  6/30/2009SenateSecretary's Desk - Concurrence House Amendment(s) 2, 3, 4
  6/30/2009SenatePlaced on Calendar Order of Concurrence House Amendment(s) 2, 3, 4 - June 30, 2009
  6/30/2009SenateHouse Floor Amendment No. 2 Motion to Concur Filed with Secretary Sen. Jeffrey M. Schoenberg
  6/30/2009SenateHouse Floor Amendment No. 2 Motion to Concur Referred to Assignments
  6/30/2009SenateHouse Floor Amendment No. 3 Motion to Concur Filed with Secretary Sen. Jeffrey M. Schoenberg
  6/30/2009SenateHouse Floor Amendment No. 3 Motion to Concur Referred to Assignments
  6/30/2009SenateHouse Floor Amendment No. 4 Motion to Concur Filed with Secretary Sen. Jeffrey M. Schoenberg
  6/30/2009SenateHouse Floor Amendment No. 4 Motion to Concur Referred to Assignments
  6/30/2009SenateHouse Floor Amendment No. 2 Motion to Concur Assignments Referred to Executive
  6/30/2009SenateHouse Floor Amendment No. 3 Motion to Concur Assignments Referred to Executive
  6/30/2009SenateHouse Floor Amendment No. 4 Motion to Concur Assignments Referred to Executive
  6/30/2009SenateHouse Floor Amendment No. 2 Motion To Concur Recommended Do Adopt Executive; 009-002-001
  6/30/2009SenateHouse Floor Amendment No. 3 Motion To Concur Recommended Do Adopt Executive; 009-002-001
  6/30/2009SenateHouse Floor Amendment No. 4 Motion To Concur Recommended Do Adopt Executive; 009-002-001
  6/30/2009SenateAdded as Chief Co-Sponsor Sen. Don Harmon
  6/30/2009Senate3/5 Vote Required
  6/30/2009SenateHouse Floor Amendment No. 2 Motion to Concur Lost 034-019-003
  6/30/2009SenateHouse Floor Amendment No. 3 Motion to Concur Lost 034-019-003
  6/30/2009SenateHouse Floor Amendment No. 4 Motion to Concur Lost 034-019-003
  6/30/2009SenateHouse Floor Amendment No. 2 Motion to Concur Filed with Secretary Sen. Jeffrey M. Schoenberg
  6/30/2009SenateHouse Floor Amendment No. 2 Motion to Concur Referred to Assignments
  6/30/2009SenateHouse Floor Amendment No. 3 Motion to Concur Filed with Secretary Sen. Jeffrey M. Schoenberg
  6/30/2009SenateHouse Floor Amendment No. 3 Motion to Concur Referred to Assignments
  6/30/2009SenateHouse Floor Amendment No. 4 Motion to Concur Filed with Secretary Sen. Jeffrey M. Schoenberg
  6/30/2009SenateHouse Floor Amendment No. 4 Motion to Concur Referred to Assignments
  6/30/2009SenateHouse Floor Amendment No. 2 Motion to Concur Be Approved for Consideration Assignments
  6/30/2009SenateHouse Floor Amendment No. 3 Motion to Concur Be Approved for Consideration Assignments
  6/30/2009SenateHouse Floor Amendment No. 4 Motion to Concur Be Approved for Consideration Assignments
  6/30/2009Senate3/5 Vote Required
  6/30/2009SenateHouse Floor Amendment No. 2 Motion to Concur Lost 032-021-004
  6/30/2009SenateHouse Floor Amendment No. 3 Motion to Concur Lost 032-021-004
  6/30/2009SenateHouse Floor Amendment No. 4 Motion to Concur Lost 032-021-004
  8/15/2009SenatePursuant to Senate Rule 3-9(b) / Referred to Assignments
  1/12/2011SenateSession Sine Die

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