Illinois General Assembly - Full Text of HB5458
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Full Text of HB5458  97th General Assembly

HB5458 97TH GENERAL ASSEMBLY

  
  

 


 
97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
HB5458

 

Introduced 2/15/2012, by Rep. Kimberly du Buclet

 

SYNOPSIS AS INTRODUCED:
 
30 ILCS 346/15

    Amends the Private Activity Bond Approval Act. Prohibits the exercise of home rule powers in a manner inconsistent with the Act. Effective immediately.


LRB097 19624 PJG 64878 b

HOME RULE NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB5458LRB097 19624 PJG 64878 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 Private Activity Bond Approval Act is
5amended by changing Section 15 as follows:
 
6    (30 ILCS 346/15)
7    Sec. 15. Qualifications for facility requiring host
8approval.
9    (a) Host approval shall not be granted unless and until the
10Governor has received the items and information listed in
11subsection (b) of this Section and has issued an approval as
12set forth in subsection (c) of this Section.
13    (b) The following items and information must be received by
14the Governor:
15        (1) a copy of the notice of public hearing pertaining
16    to the facilities;
17        (2) minutes or another official record of the public
18    hearing;
19        (3) the maximum stated principal amount of the bonds;
20        (4) a description of the facility, including its
21    location;
22        (5) a description of the plan of finance;
23        (6) the name of the issuer of the bonds; and

 

 

HB5458- 2 -LRB097 19624 PJG 64878 b

1        (7) the name of the initial owner or principal user of
2    the facility.
3    (c) If, and only if, the Governor determines that the
4facility and the items and information submitted under
5subsection (b) of this Section are consistent with the laws and
6public policy of the State and are in the best interest of the
7State, then the Governor shall issue a written approval under
8this Section authorizing the governmental unit to grant its
9host approval in its discretion.
10    (d) A home rule unit may not exercise its home rule powers
11and functions in a manner that is inconsistent with this Act.
12This subsection is a limitation under subsection (i) of Section
136 of Article VII of the Illinois Constitution on the concurrent
14exercise by home rule units of powers and functions exercised
15by the State.
16(Source: P.A. 96-1493, eff. 1-1-11.)
 
17    Section 99. Effective date. This Act takes effect upon
18becoming law.