94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
SB1625


 
Introduced 2/23/2005, by Sen. Jeffrey M. Schoenberg
 
SYNOPSIS AS INTRODUCED:
 		














20 ILCS 3501/845-5









    Amends the Illinois Finance Authority Act. Provides that the Authority may not have outstanding at any one time bonds
for any of its corporate purposes in an aggregate principal amount exceeding
$29,000,000,000 (now, $23,000,000,000).
















LRB094 10335 RSP 40605 b

















FISCAL NOTE ACT MAY APPLY


STATE DEBT IMPACT NOTE ACT MAY APPLY
















 


 


A BILL FOR









 











SB1625

LRB094 10335 RSP 40605 b






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    AN ACT concerning State government.

 
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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. The Authority may not have outstanding at any 
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one time bonds
for any of its corporate purposes in an 
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aggregate principal amount exceeding
$29,000,000,000

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$23,000,000,000, excluding bonds issued to refund the bonds of 
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the Authority or
bonds of the Predecessor Authorities.

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(Source: P.A. 93-205, eff. 1-1-04.)

 

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    Section 99. Effective date. This Act takes effect upon 
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becoming law.