Illinois General Assembly - Bill Status for SB3381
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 Bill Status of SB3381  93rd General Assembly

Short Description:  OSLAD-REV BONDS-GRANTS

Senate Sponsors
Sen. Don Harmon - Dave Sullivan - Iris Y. Martinez - Susan Garrett, Debbie DeFrancesco Halvorson, Edward D. Maloney, M. Maggie Crotty and William R. Haine

Last Action
DateChamber Action
  1/11/2005SenateSession Sine Die

Statutes Amended In Order of Appearance
New Act
35 ILCS 200/31-35
525 ILCS 30/7.05a new
525 ILCS 35/3from Ch. 85, par. 2103
525 ILCS 35/8 new
525 ILCS 35/9.1 new
525 ILCS 35/11from Ch. 85, par. 2111
525 ILCS 35/13from Ch. 85, par. 2113
525 ILCS 35/14from Ch. 85, par. 2114
525 ILCS 35/15 new
525 ILCS 35/15.5 new

Synopsis As Introduced
Creates the Open Space Financing Act. Authorizes the Department of Natural Resources to issue revenue bonds secured by real estate transfer tax receipts collected and deposited into the Open Space Bond Repayment Fund and the Natural Areas Bond Repayment Fund. Sets forth procedures for issuing the bonds and distributing the bond proceeds. Amends the Property Tax Code. Provides that for fiscal year 2005 only, after deposit of 50% of the moneys collected under the Real Estate Transfer Tax Law into the Illinois Affordable Housing Trust Fund, of the remaining 50%, the first $30,000,000 shall be deposited into the General Revenue Fund and, thereafter, 35% shall be deposited into the OSLAD Fund, and 15% shall be deposited into the NAA Fund. Amends the Illinois Natural Areas Preservation Act. Provides that the Department of Natural Resources shall determine the manner and extent to which property under consideration for acquisition would assist in storm water management, water supply and quality assurance, or other infrastructure needs, but this determination shall not prevent the Department from acquiring property. Amends the Open Space Lands Acquisition and Development Act. Provides that grants for green infrastructure projects made before December 31, 2008 to units of local government may be conditioned upon the State providing assistance on a 60/40 matching basis. Sets forth additional requirements for grants for green infrastructure projects. Provides that, in considering applications for certain grants, the Department shall give scoring points to the applicants that demonstrate the greatest potential for improving water supply and quality or for reducing the capital, operating, or maintenance costs of meeting water-related infrastructure requirements. Creates the Open Space Bond Repayment Fund and the Natural Areas Bond Repayment Fund. Makes other changes. Effective immediately.

DateChamber Action
  5/26/2004SenateFiled with Secretary by Sen. Don Harmon
  5/26/2004SenateChief Co-Sponsor Sen. Dave Sullivan
  5/26/2004SenateChief Co-Sponsor Sen. Iris Y. Martinez
  5/26/2004SenateFirst Reading
  5/26/2004SenateReferred to Rules
  5/26/2004SenateAdded as Co-Sponsor Sen. Debbie DeFrancesco Halvorson
  5/26/2004SenateAdded as Chief Co-Sponsor Sen. Susan Garrett
  5/28/2004SenateAdded as Co-Sponsor Sen. Edward D. Maloney
  5/28/2004SenateAdded as Co-Sponsor Sen. M. Maggie Crotty
  5/31/2004SenateAdded as Co-Sponsor Sen. William R. Haine
  1/11/2005SenateSession Sine Die

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