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| 1 | AN ACT concerning finance.
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| 2 | Be it enacted by the People of the State of Illinois, | ||||||
| 3 | represented in the General Assembly:
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| 4 | Section 5. The General Obligation Bond Act is amended by | ||||||
| 5 | changing Section 13 as follows:
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| 6 | (30 ILCS 330/13) (from Ch. 127, par. 663)
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| 7 | Sec. 13. Appropriation of Proceeds from Sale of Bonds.
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| 8 | (a) At all times, the proceeds from the sale of Bonds | ||||||
| 9 | issued pursuant
to this Act are subject to appropriation by the | ||||||
| 10 | General Assembly and,
except as provided in Section 7.2, may be | ||||||
| 11 | obligated or expended only
with the written approval of the | ||||||
| 12 | Governor, in such amounts, at such times,
and for such purposes | ||||||
| 13 | as the respective
State agencies, as defined in Section 1-7 of | ||||||
| 14 | the Illinois State Auditing
Act, as amended, deem necessary or | ||||||
| 15 | desirable for the specific purposes
contemplated in Sections 2 | ||||||
| 16 | through 8 of this Act.
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| 17 | (b) Proceeds from the sale of Bonds for the purpose of | ||||||
| 18 | development of
coal and alternative forms of energy shall be | ||||||
| 19 | expended in such amounts and
at such times as the Department of | ||||||
| 20 | Commerce and Economic Opportunity, with the
advice and | ||||||
| 21 | recommendation of the Illinois Coal Development Board for coal
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| 22 | development projects, may deem necessary and desirable for the | ||||||
| 23 | specific
purpose contemplated by Section 7 of this Act. In | ||||||
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| 1 | considering the approval
of projects to be funded, the | ||||||
| 2 | Department of Commerce and
Economic Opportunity shall give
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| 3 | special
consideration to projects designed to remove sulfur and | ||||||
| 4 | other pollutants in
the preparation and utilization of coal, | ||||||
| 5 | and in the use and operation of
electric utility generating | ||||||
| 6 | plants and industrial facilities which utilize
Illinois coal as | ||||||
| 7 | their primary source of fuel.
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| 8 | (c) Except as directed in subsection (c-1) or (c-2), any | ||||||
| 9 | Any monies received by any officer or employee of the state
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| 10 | representing a reimbursement of expenditures previously paid | ||||||
| 11 | from general
obligation bond proceeds shall be deposited into | ||||||
| 12 | the General Obligation
Bond Retirement and Interest Fund | ||||||
| 13 | authorized in Section 14 of this Act.
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| 14 | (c-1) Any money received by the Department of | ||||||
| 15 | Transportation as reimbursement for expenditures for high | ||||||
| 16 | speed rail purposes pursuant to appropriations from the | ||||||
| 17 | Transportation Bond, Series B Fund for (i) CREATE (Chicago | ||||||
| 18 | Region Environmental and Transportation Efficiency), (ii) High | ||||||
| 19 | Speed Rail, or (iii) AMTRAK projects authorized by the federal | ||||||
| 20 | government under the provisions of the American Recovery and | ||||||
| 21 | Reinvestment Act of 2009 or the Safe Accountable Flexible | ||||||
| 22 | Efficient Transportation Equity Act—A Legacy for Users | ||||||
| 23 | (SAFETEA-LU), or any successor federal transportation | ||||||
| 24 | authorization Act, shall be deposited into the Federal High | ||||||
| 25 | Speed Rail Trust Fund. | ||||||
| 26 | (c-2) Any money received by the Department of | ||||||
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| 1 | Transportation as reimbursement for expenditures for transit | ||||||
| 2 | capital purposes pursuant to appropriations from the | ||||||
| 3 | Transportation Bond, Series B Fund for projects authorized by | ||||||
| 4 | the federal government under the provisions of the American | ||||||
| 5 | Recovery and Reinvestment Act of 2009 or the Safe Accountable | ||||||
| 6 | Flexible Efficient Transportation Equity Act—A Legacy for | ||||||
| 7 | Users (SAFETEA-LU), or any successor federal transportation | ||||||
| 8 | authorization Act, shall be deposited into the Federal Mass | ||||||
| 9 | Transit Trust Fund. | ||||||
| 10 | (Source: P.A. 93-2, eff. 4-7-03; 94-793, eff. 5-19-06.)
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| 11 | Section 99. Effective date. This Act takes effect upon | ||||||
| 12 | becoming law.
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