Illinois General Assembly - Bill Status for SB0521
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 Bill Status of SB0521  93rd General Assembly


Senate Sponsors
Sen. Jeffrey M. Schoenberg - Vince Demuzio - Dan Rutherford

House Sponsors
(Rep. Julie Hamos)

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

Statutes Amended In Order of Appearance
20 ILCS 3705/2.06from Ch. 111 1/2, par. 1102.06
20 ILCS 3705/4.06from Ch. 111 1/2, par. 1104.06
20 ILCS 3705/11from Ch. 111 1/2, par. 1111
20 ILCS 3705/17.1 new
20 ILCS 3705/17.2 new
20 ILCS 3705/17.3 new
20 ILCS 3705/17.4 new
20 ILCS 3705/17.5 new
20 ILCS 3705/17.6 new
20 ILCS 3705/17.7 new
20 ILCS 3705/17.8 new
20 ILCS 3705/17.9 new
20 ILCS 3705/17.10 new
30 ILCS 105/5.595 new
30 ILCS 105/6z-43
30 ILCS 105/8.45 new

Synopsis As Introduced
Amends the Illinois Health Facilities Authority Act to create the financially distressed provider refunding bond program. Provides that the Authority may issue limited obligation bonds solely for the purpose of enabling a qualifying provider to refinance all or a portion of its outstanding indebtedness that was previously issued to finance or refinance the cost of a health facility (but not including working capital, accounts receivable, and operating expenses), if the debt to be refinanced meets certain criteria. Provides that a "qualifying provider" means a participating health institution that is either: (i) designated as a provider under the Critical Access Hospital program or (ii) demonstrates, to the reasonable written satisfaction of the Director of the Bureau of the Budget, that, for its last 3 fiscal years for which audited financial statements have been prepared, State funding accounted for an annual average of at least 40% of its operating revenues. Amends the State Finance Act to create the Financially Distressed Provider Credit Enhancement Fund. As soon as practical in fiscal year 2004, and each fiscal year thereafter, provides that moneys shall be transferred from the Tobacco Settlement Recovery Fund to the Financially Distressed Provider Credit Enhancement Fund equal to the debt service reserve requirement.

Senate Floor Amendment No. 1
Makes a technical correction.

 Fiscal Note (Bureau of the Budget)
 While it is impossible to predict with certainty the impact of this legislation, the Bureau believes it to be minimal.

DateChamber Action
  2/18/2003SenateFiled with Secretary by Sen. Jeffrey M. Schoenberg
  2/18/2003SenateFirst Reading
  2/18/2003SenateReferred to Rules
  2/19/2003SenateAssigned to Executive
  3/6/2003SenateDo Pass Executive; 008-005-000
  3/6/2003SenatePlaced on Calendar Order of 2nd Reading March 11, 2003
  3/11/2003SenateFiscal Note Requested by Sen. Peter J. Roskam
  3/24/2003SenateAdded as Chief Co-Sponsor Sen. Vince Demuzio
  3/24/2003SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. Jeffrey M. Schoenberg
  3/24/2003SenateSenate Floor Amendment No. 1 Referred to Rules
  3/24/2003SenateSenate Floor Amendment No. 1 Be Approved for Consideration Rules
  3/24/2003SenateFiscal Note Filed
  3/27/2003SenateSecond Reading
  3/27/2003SenateSenate Floor Amendment No. 1 Adopted; Schoenberg
  3/27/2003SenatePlaced on Calendar Order of 3rd Reading April 2, 2003
  4/3/2003SenateAdded as Chief Co-Sponsor Sen. Dan Rutherford
  4/3/2003SenateThird Reading - Passed; 056-000-001
  4/4/2003HouseArrived in House
  4/4/2003HouseChief House Sponsor Rep. Julie Hamos
  4/4/2003HouseFirst Reading
  4/4/2003HouseReferred to Rules Committee
  4/8/2003HouseAssigned to Executive Committee
  5/2/2003HouseCommittee/3rd Reading Deadline Extended-Rule 9(b); May 31, 2003
  6/1/2003HouseRule 19(a) / Re-referred to Rules Committee
  1/11/2005SenateSession Sine Die

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