Sen. Christine Radogno
Filed: 4/1/2009
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1 | AMENDMENT TO HOUSE BILL 289
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2 | AMENDMENT NO. ______. Amend House Bill 289, AS AMENDED, by | ||||||
3 | replacing everything after the enacting clause with the | ||||||
4 | following:
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5 | "Section 5. If and only if House Bill 210 of the 96th | ||||||
6 | General Assembly becomes law, the General Obligation Bond Act | ||||||
7 | is amended by changing Sections 2 and 4 as follows:
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8 | (30 ILCS 330/2) (from Ch. 127, par. 652)
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9 | Sec. 2. Authorization for Bonds. The State of Illinois is | ||||||
10 | authorized to
issue, sell and provide for the retirement of | ||||||
11 | General Obligation Bonds of
the State of Illinois for the | ||||||
12 | categories and specific purposes expressed in
Sections 2 | ||||||
13 | through 8 of this Act, in the total amount of $30,693,149,369 | ||||||
14 | $27,693,149,369 .
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15 | The bonds authorized in this Section 2 and in Section 16 of | ||||||
16 | this Act are
herein called "Bonds".
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1 | Of the total amount of Bonds authorized in this Act, up to | ||||||
2 | $2,200,000,000
in aggregate original principal amount may be | ||||||
3 | issued and sold in accordance
with the Baccalaureate Savings | ||||||
4 | Act in the form of General Obligation
College Savings Bonds.
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5 | Of the total amount of Bonds authorized in this Act, up to | ||||||
6 | $300,000,000 in
aggregate original principal amount may be | ||||||
7 | issued and sold in accordance
with the Retirement Savings Act | ||||||
8 | in the form of General Obligation
Retirement Savings Bonds.
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9 | Of the total amount of Bonds authorized in this Act, the | ||||||
10 | additional
$10,000,000,000 authorized by this amendatory Act | ||||||
11 | of the 93rd General
Assembly shall be used solely as provided | ||||||
12 | in Section 7.2.
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13 | The issuance and sale of Bonds pursuant to the General | ||||||
14 | Obligation Bond
Act is an economical and efficient method of | ||||||
15 | financing the long-term capital needs of
the State. This Act | ||||||
16 | will permit the issuance of a multi-purpose General
Obligation | ||||||
17 | Bond with uniform terms and features. This will not only lower
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18 | the cost of registration but also reduce the overall cost of | ||||||
19 | issuing debt
by improving the marketability of Illinois General | ||||||
20 | Obligation Bonds.
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21 | (Source: P.A. 95-1026, eff. 1-12-09.)
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22 | (30 ILCS 330/4) (from Ch. 127, par. 654)
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23 | Sec. 4. Transportation. The amount of $8,313,399,000 | ||||||
24 | $5,313,399,000
is authorized for use by the Department of | ||||||
25 | Transportation for the specific
purpose of promoting and |
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1 | assuring rapid, efficient, and safe highway, air and
mass | ||||||
2 | transportation for the inhabitants of the State by providing | ||||||
3 | monies,
including the making of grants and loans, for the | ||||||
4 | acquisition, construction,
reconstruction, extension and | ||||||
5 | improvement of the following transportation
facilities and | ||||||
6 | equipment, and for the acquisition of real property and
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7 | interests in real property required or expected to be required | ||||||
8 | in connection
therewith as follows:
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9 | (a) $5,432,129,000 $3,432,129,000 for State highways, | ||||||
10 | arterial
highways, freeways,
roads, bridges, structures | ||||||
11 | separating highways and railroads and roads, and
bridges on | ||||||
12 | roads maintained by counties, municipalities, townships or | ||||||
13 | road
districts for the following specific purposes:
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14 | (1) $3,330,000,000 for use statewide,
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15 | (2) $3,677,000 for use outside the Chicago urbanized
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16 | area,
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17 | (3) $7,543,000 for use within the Chicago urbanized | ||||||
18 | area,
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19 | (4) $13,060,600 for use within the City of Chicago,
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20 | (5) $58,987,500 for use within the counties of Cook,
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21 | DuPage, Kane, Lake, McHenry and Will, and
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22 | (6) $18,860,900 for use outside the counties of Cook, | ||||||
23 | DuPage, Kane,
Lake, McHenry and Will , and .
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24 | (7) $2,000,000,000 for use on projects included in the | ||||||
25 | FY09-14 Proposed Highway Improvement Program as published | ||||||
26 | by the Illinois Department of Transportation in May 2008; |
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1 | these projects shall reflect the generally accepted | ||||||
2 | historical distribution of projects throughout the State. | ||||||
3 | (b) $2,529,670,000 $1,529,670,000 for rail facilities and | ||||||
4 | for
mass transit facilities, as defined in Section 2705-305 of | ||||||
5 | the Department of
Transportation Law (20 ILCS 2705/2705-305), | ||||||
6 | including rapid transit, rail, bus
and other equipment used in | ||||||
7 | connection therewith by the State or any unit of
local | ||||||
8 | government, special transportation district, municipal | ||||||
9 | corporation or
other corporation or public authority | ||||||
10 | authorized to provide and promote public
transportation within | ||||||
11 | the State or two or more of the foregoing jointly, for
the | ||||||
12 | following specific purposes:
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13 | (1) $1,433,870,000 statewide,
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14 | (2) $83,350,000 for use within the counties of Cook,
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15 | DuPage, Kane, Lake, McHenry and Will,
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16 | (3) $12,450,000 for use outside the counties of Cook,
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17 | DuPage, Kane, Lake, McHenry and Will , and .
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18 | (4) $1,000,000,000 for use on projects that shall | ||||||
19 | reflect the generally accepted historical distribution of | ||||||
20 | projects throughout the State. | ||||||
21 | (c) $351,600,000 for airport or aviation facilities and any | ||||||
22 | equipment used
in connection therewith, including engineering | ||||||
23 | and land acquisition costs,
by the State or any unit of local | ||||||
24 | government, special transportation district,
municipal | ||||||
25 | corporation or other corporation or public authority | ||||||
26 | authorized
to provide public transportation within the State, |
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1 | or two or more of the
foregoing acting jointly, and for the | ||||||
2 | making of deposits into the Airport
Land Loan Revolving Fund | ||||||
3 | for loans to public airport owners pursuant to the
Illinois | ||||||
4 | Aeronautics Act.
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5 | (Source: P.A. 91-39, eff. 6-15-99; 91-239, eff. 1-1-00; 91-712, | ||||||
6 | eff. 7-1-00;
92-13, eff. 6-22-01.)
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7 | Section 99. Effective date. This Act takes effect upon | ||||||
8 | becoming law.".
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