Illinois General Assembly - Bill Status for HB2823

Illinois General Assembly - Bill Status for HB2823

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Bill Status of HB2823 101st General Assembly

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Short Description: RTA&CTA-NOTES & LINE OF CREDIT

House Sponsors
Rep. Michael J. Zalewski

Senate Sponsors
(Sen. Martin A. Sandoval - Donald P. DeWitte)

Last Action

Date	Chamber	Action
8/23/2019	House	Public Act . . . . . . . . . 101-0485

Statutes Amended In Order of Appearance

70 ILCS 3605/12a

from Ch. 111 2/3, par. 312a

70 ILCS 3615/4.04

from Ch. 111 2/3, par. 704.04

Synopsis As Introduced
Amends the Metropolitan Transit Authority Act and Regional Transportation Authority Act. Establishes procedures for repayment of defaulted interim financing notes issued by the Chicago Transit Authority and defaulted working cash notes issued by the Regional Transportation Authority, in which State money in the State treasury was invested. Provides that the Regional Transportation Authority may issue, sell, and deliver additional working cash notes and establish lines of credit (rather than only working cash notes) before July 1, 2022 (rather than July 1, 2018) that are over and above and in addition to the $100,000,000 bond or note authorization. Establishes procedures for establishment of lines of credit. Requires notice to the Governor's Office of Management and Budget and State Comptroller before establishing a line of credit and provides that money borrowed under a line of credit are general obligations of the Authority that are secured by the full faith and credit of the Authority. Effective immediately.

Actions

Date	Chamber	Action
2/14/2019	House	Filed with the Clerk by Rep. Michael J. Zalewski
2/14/2019	House	First Reading
2/14/2019	House	Referred to Rules Committee
2/26/2019	House	Assigned to Revenue & Finance Committee
3/6/2019	House	To Sales, Amusement & Other Taxes Subcommittee
3/19/2019	House	House Committee Amendment No. 1 Filed with Clerk by Rep. Michael J. Zalewski
3/19/2019	House	House Committee Amendment No. 1 Referred to Rules Committee
3/21/2019	House	Recommends Do Pass Subcommittee/ Revenue & Finance Committee; 006-000-000
3/21/2019	House	Reported Back To Revenue & Finance Committee;
3/21/2019	House	Do Pass / Short Debate Revenue & Finance Committee; 009-005-000
3/21/2019	House	House Committee Amendment No. 1 Tabled Pursuant to Rule 40
3/21/2019	House	Placed on Calendar 2nd Reading - Short Debate
3/26/2019	House	Second Reading - Short Debate
3/26/2019	House	Placed on Calendar Order of 3rd Reading - Short Debate
4/4/2019	House	Third Reading - Consideration Postponed
4/4/2019	House	Placed on Calendar - Consideration Postponed
4/9/2019	House	Placed on Calendar Order of 3rd Reading - Short Debate
4/9/2019	House	Third Reading - Short Debate - Passed 062-049-001
4/10/2019	Senate	Arrive in Senate
4/10/2019	Senate	Placed on Calendar Order of First Reading
4/10/2019	Senate	Chief Senate Sponsor Sen. Martin A. Sandoval
4/10/2019	Senate	First Reading
4/10/2019	Senate	Referred to Assignments
4/24/2019	Senate	Assigned to Transportation
5/2/2019	Senate	Do Pass Transportation; 013-000-000
5/2/2019	Senate	Placed on Calendar Order of 2nd Reading May 7, 2019
5/14/2019	Senate	Added as Alternate Chief Co-Sponsor Sen. Donald P. DeWitte
5/21/2019	Senate	Second Reading
5/21/2019	Senate	Placed on Calendar Order of 3rd Reading May 22, 2019
5/24/2019	Senate	Rule 2-10 Third Reading Deadline Established As May 31, 2019
5/30/2019	Senate	Third Reading - Passed; 046-008-000
5/30/2019	House	Passed Both Houses
6/28/2019	House	Sent to the Governor
8/23/2019	House	Governor Approved
8/23/2019	House	Effective Date August 23, 2019
8/23/2019	House	Public Act . . . . . . . . . 101-0485