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96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
HB6011
Introduced 2/10/2010, by Rep. Frank J. Mautino SYNOPSIS AS INTRODUCED:
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Amends the Illinois Finance Authority Act. Increases the general bonding authority by $4,000,000,000. Effective immediately.
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| FISCAL NOTE ACT MAY APPLY | |
STATE DEBT IMPACT NOTE ACT MAY APPLY |
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A BILL FOR
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HB6011 |
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LRB096 18331 RCE 33708 b |
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| AN ACT concerning debt.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The Illinois Finance Authority Act is amended by |
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| changing Section 845-5 as follows:
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| (20 ILCS 3501/845-5)
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| Sec. 845-5. Bond limitations.
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| (a) The Authority may not have outstanding at any one time |
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| bonds
for any of its corporate purposes in an aggregate |
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| principal amount exceeding $32,150,000,000 $28,150,000,000, |
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| excluding bonds issued to refund the bonds of the Authority or
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| bonds of the Predecessor Authorities. |
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| (b) The Authority may not have outstanding at any one time |
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| revenue bonds in an aggregate principal amount exceeding |
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| $4,000,000,000 on behalf of the Illinois Power Agency as set |
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| forth in Section 825-90. Any such revenue bonds issued on |
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| behalf of the Illinois Power Agency pursuant to this Act shall |
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| not be counted against the bond authorization limit set forth |
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| in subsection (a).
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| (Source: P.A. 94-1068, eff. 8-1-06; 95-481, eff. 8-28-07; |
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| 95-697, eff. 11-6-07; 95-876, eff. 8-21-08; 95-879, eff. |
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| 8-21-08.)
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