Illinois General Assembly - Bill Status for HB1866

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Bill Status of HB1866 97th General Assembly

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Short Description: UPPER IL RIVER VALLEY DEV AUTH

House Sponsors
Rep. Frank J. Mautino - Tom Cross

Senate Sponsors
(Sen. William R. Haine)

Last Action

Date	Chamber	Action
8/11/2011	House	Public Act . . . . . . . . . 97-0312

Statutes Amended In Order of Appearance

70 ILCS 530/7

from Ch. 85, par. 7157

70 ILCS 530/7.1 new

Synopsis As Introduced
Amends the Upper Illinois River Valley Development Authority Act. Provides that the Upper Illinois River Valley Development Authority may issue bonds, notes, or other evidences of indebtedness in an aggregate amount outstanding not to exceed $500,000,000 (now, $250,000,000). Provides that the notes and bonds issued by the Authority and the income from these notes and bonds may be free from all taxation by the State or its political subdivisions, except for estate, transfer, and inheritance taxes. Provides that the exemption from taxation shall apply to the income on any notes or bonds of the Authority only if the Authority in its sole judgment determines that the exemption enhances the marketability of the bonds or notes or reduces the interest rates that would otherwise be borne by the bonds or notes. Effective immediately.

House Committee Amendment No. 1
Further amends the Upper Illinois River Valley Development Authority Act. Provides that certain provisions concerning the State's moral obligation for the bonds of the Upper Illinois River Valley Development Authority shall not apply to bonds issued by the Authority on or after the effective date of the amendatory Act.

Actions

Date	Chamber	Action
2/16/2011	House	Filed with the Clerk by Rep. Frank J. Mautino
2/16/2011	House	First Reading
2/16/2011	House	Referred to Rules Committee
2/22/2011	House	Assigned to Executive Committee
3/3/2011	House	House Committee Amendment No. 1 Filed with Clerk by Rep. Frank J. Mautino
3/3/2011	House	House Committee Amendment No. 1 Referred to Rules Committee
3/3/2011	House	Added Chief Co-Sponsor Rep. Tom Cross
3/7/2011	House	Re-assigned to State Government Administration Committee
3/7/2011	House	House Committee Amendment No. 1 Rules Refers to State Government Administration Committee
3/16/2011	House	House Committee Amendment No. 1 Adopted in State Government Administration Committee; by Voice Vote
3/16/2011	House	Do Pass as Amended / Short Debate State Government Administration Committee; 010-003-000
3/16/2011	House	Placed on Calendar 2nd Reading - Short Debate
3/17/2011	House	Second Reading - Short Debate
3/17/2011	House	Placed on Calendar Order of 3rd Reading - Short Debate
4/7/2011	House	Third Reading - Short Debate - Passed 079-033-000
4/7/2011	Senate	Arrive in Senate
4/7/2011	Senate	Placed on Calendar Order of First Reading April 8, 2011
4/11/2011	Senate	Chief Senate Sponsor Sen. William R. Haine
4/12/2011	Senate	First Reading
4/12/2011	Senate	Referred to Assignments
4/27/2011	Senate	Assigned to Revenue
5/5/2011	Senate	Postponed - Revenue
5/11/2011	Senate	Do Pass Revenue; 009-000-001
5/11/2011	Senate	Placed on Calendar Order of 2nd Reading May 12, 2011
5/12/2011	Senate	Second Reading
5/12/2011	Senate	Placed on Calendar Order of 3rd Reading May 13, 2011
5/17/2011	Senate	Third Reading - Passed; 048-007-000
5/17/2011	House	Passed Both Houses
6/15/2011	House	Sent to the Governor
8/11/2011	House	Governor Approved
8/11/2011	House	Effective Date August 11, 2011
8/11/2011	House	Public Act . . . . . . . . . 97-0312

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