Bill Status of SB 1983   96th General Assembly

Short Description:  IL FINANCE AUTHORITY

Senate Sponsors
Sen. Dan Cronin

Last Action  View All Actions

DateChamber Action
  1/12/2011SenateSession Sine Die

Statutes Amended In Order of Appearance
20 ILCS 3501/801-10
20 ILCS 3501/801-15
20 ILCS 3501/801-20 new
20 ILCS 3501/801-25
20 ILCS 3501/845-5
20 ILCS 3501/845-10
20 ILCS 3501/845-40
20 ILCS 3501/845-45
20 ILCS 3501/845-50

Synopsis As Introduced
Amends the Illinois Finance Authority Act. Replaces the existing governing board of the Authority with 4 new governing boards, appointed by the Governor with the advice and consent of the Senate. Gives each new governing board jurisdiction over certain specified programs of the Authority. Provides that certain actions affecting more than one governing board must be taken by the affected boards acting jointly. Replaces the Executive Director of the Authority with 4 new executive directors, one appointed by each of the governing boards. Contains provisions relating to officers, employees, finance, and the issuance of bonds. Provides that the change in governing boards does not affect any existing obligation of the Authority, or any existing bond or other instrument of indebtedness of the Authority or any of its Predecessor Authorities, or the rights of any bondholder. Includes other conforming and savings provisions. Effective January 1, 2010.

Actions 
DateChamber Action
  2/20/2009SenateFiled with Secretary by Sen. Dan Cronin
  2/20/2009SenateFirst Reading
  2/20/2009SenateReferred to Assignments
  3/4/2009SenateAssigned to Executive
  3/12/2009SenateTo Executive Subcommittee on State And Local Government
  3/13/2009SenateRule 2-10 Committee Deadline Established As April 3, 2009
  3/26/2009SenatePostponed - Executive; Subcommittee on State and Local Governments
  4/3/2009SenateRule 3-9(a) / Re-referred to Assignments
  1/12/2011SenateSession Sine Die

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