HB1516 EnrolledLRB096 04928 RCE 14994 b

1    AN ACT concerning finance.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The General Obligation Bond Act is amended by
5changing Section 13 as follows:
 
6    (30 ILCS 330/13)  (from Ch. 127, par. 663)
7    Sec. 13. Appropriation of Proceeds from Sale of Bonds.
8    (a) At all times, the proceeds from the sale of Bonds
9issued pursuant to this Act are subject to appropriation by the
10General Assembly and, except as provided in Section 7.2, may be
11obligated or expended only with the written approval of the
12Governor, in such amounts, at such times, and for such purposes
13as the respective State agencies, as defined in Section 1-7 of
14the Illinois State Auditing Act, as amended, deem necessary or
15desirable for the specific purposes contemplated in Sections 2
16through 8 of this Act.
17    (b) Proceeds from the sale of Bonds for the purpose of
18development of coal and alternative forms of energy shall be
19expended in such amounts and at such times as the Department of
20Commerce and Economic Opportunity, with the advice and
21recommendation of the Illinois Coal Development Board for coal
22development projects, may deem necessary and desirable for the
23specific purpose contemplated by Section 7 of this Act. In

 

 

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1considering the approval of projects to be funded, the
2Department of Commerce and Economic Opportunity shall give
3special consideration to projects designed to remove sulfur and
4other pollutants in the preparation and utilization of coal,
5and in the use and operation of electric utility generating
6plants and industrial facilities which utilize Illinois coal as
7their primary source of fuel.
8    (c) Except as directed in subsection (c-1) or (c-2), any
9Any monies received by any officer or employee of the state
10representing a reimbursement of expenditures previously paid
11from general obligation bond proceeds shall be deposited into
12the General Obligation Bond Retirement and Interest Fund
13authorized in Section 14 of this Act.
14    (c-1) Any money received by the Department of
15Transportation as reimbursement for expenditures for high
16speed rail purposes pursuant to appropriations from the
17Transportation Bond, Series B Fund for (i) CREATE (Chicago
18Region Environmental and Transportation Efficiency), (ii) High
19Speed Rail, or (iii) AMTRAK projects authorized by the federal
20government under the provisions of the American Recovery and
21Reinvestment Act of 2009 or the Safe Accountable Flexible
22Efficient Transportation Equity Act—A Legacy for Users
23(SAFETEA-LU), or any successor federal transportation
24authorization Act, shall be deposited into the Federal High
25Speed Rail Trust Fund.
26    (c-2) Any money received by the Department of

 

 

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1Transportation as reimbursement for expenditures for transit
2capital purposes pursuant to appropriations from the
3Transportation Bond, Series B Fund for projects authorized by
4the federal government under the provisions of the American
5Recovery and Reinvestment Act of 2009 or the Safe Accountable
6Flexible Efficient Transportation Equity Act—A Legacy for
7Users (SAFETEA-LU), or any successor federal transportation
8authorization Act, shall be deposited into the Federal Mass
9Transit Trust Fund.
10(Source: P.A. 93-2, eff. 4-7-03; 94-793, eff. 5-19-06.)
 
11    Section 99. Effective date. This Act takes effect upon
12becoming law.