Full Text of SB1460 95th General Assembly
SB1460ham003 95TH GENERAL ASSEMBLY
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Rep. Jay C. Hoffman
Filed: 7/16/2008
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| AMENDMENT TO SENATE BILL 1460
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| AMENDMENT NO. ______. Amend Senate Bill 1460, AS AMENDED, | 3 |
| by replacing everything after the enacting clause with the | 4 |
| following:
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| "ARTICLE 1. | 6 |
| Section 1. The General Obligation Bond Act is amended by | 7 |
| changing Sections 2, 3, 4, 5, 7 and 12 as follows:
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| (30 ILCS 330/2) (from Ch. 127, par. 652)
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| Sec. 2. Authorization for Bonds. The State of Illinois is | 10 |
| authorized to
issue, sell and provide for the retirement of | 11 |
| General Obligation Bonds of
the State of Illinois for the | 12 |
| categories and specific purposes expressed in
Sections 2 | 13 |
| through 8 of this Act, in the total amount of $30,177,149,369
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| $27,658,149,369 .
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| The bonds authorized in this Section 2 and in Section 16 of |
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| this Act are
herein called "Bonds".
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| Of the total amount of Bonds authorized in this Act, up to | 3 |
| $2,200,000,000
in aggregate original principal amount may be | 4 |
| issued and sold in accordance
with the Baccalaureate Savings | 5 |
| Act in the form of General Obligation
College Savings Bonds.
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| Of the total amount of Bonds authorized in this Act, up to | 7 |
| $300,000,000 in
aggregate original principal amount may be | 8 |
| issued and sold in accordance
with the Retirement Savings Act | 9 |
| in the form of General Obligation
Retirement Savings Bonds.
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| Of the total amount of Bonds authorized in this Act, the | 11 |
| additional
$10,000,000,000 authorized by this amendatory Act | 12 |
| of the 93rd General
Assembly shall be used solely as provided | 13 |
| in Section 7.2.
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| The issuance and sale of Bonds pursuant to the General | 15 |
| Obligation Bond
Act is an economical and efficient method of | 16 |
| financing the long-term capital needs of
the State. This Act | 17 |
| will permit the issuance of a multi-purpose General
Obligation | 18 |
| Bond with uniform terms and features. This will not only lower
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| the cost of registration but also reduce the overall cost of | 20 |
| issuing debt
by improving the marketability of Illinois General | 21 |
| Obligation Bonds.
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| (Source: P.A. 92-13, eff. 6-22-01; 92-596, eff. 6-28-02; | 23 |
| 92-598, eff. 6-28-02; 93-2, eff. 4-7-03; 93-839, eff. 7-30-04.)
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| (30 ILCS 330/3) (from Ch. 127, par. 653)
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| Sec. 3. Capital Facilities. The amount of $7,976,235,369
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| $7,320,235,369 is authorized
to be used for the acquisition, | 2 |
| development, construction, reconstruction,
improvement, | 3 |
| financing, architectural planning and installation of capital
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| facilities within the State, consisting of buildings, | 5 |
| structures, durable
equipment, land, and interests in land for | 6 |
| the following specific purposes:
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| (a) $2,459,228,000
$2,211,228,000 for educational | 8 |
| purposes by
State universities and
colleges, the Illinois | 9 |
| Community College Board created by the Public
Community | 10 |
| College Act and for grants to public community colleges as
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| authorized by Sections 5-11 and 5-12 of the Public | 12 |
| Community College Act;
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| (b) $1,607,420,000 for correctional purposes at
State
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| prison and correctional centers;
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| (c)
$531,175,000 for open spaces, recreational and
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| conservation purposes and the protection of land;
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| (d) $589,917,000 for child care facilities, mental
and | 18 |
| public health facilities, and facilities for the care of | 19 |
| disabled
veterans and their spouses;
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| (e)
$1,565,990,000 $1,455,990,000 for use by the | 21 |
| State, its
departments, authorities, public corporations, | 22 |
| commissions and agencies;
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| (f) $818,100 for cargo handling facilities at port | 24 |
| districts and for
breakwaters, including harbor entrances, | 25 |
| at port districts in conjunction
with facilities for small | 26 |
| boats and pleasure crafts;
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| (g)
$204,657,000 for water resource management
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| projects;
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| (h) $16,940,269 for the provision of facilities for | 4 |
| food production
research and related instructional and | 5 |
| public service activities at the
State universities and | 6 |
| public community colleges;
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| (i) $36,000,000 for grants by the Secretary of State, | 8 |
| as
State
Librarian, for central library facilities | 9 |
| authorized by Section 8
of the Illinois Library System Act | 10 |
| and for grants by the Capital
Development Board to units of | 11 |
| local government for public library
facilities;
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| (j) $25,000,000 for the acquisition, development, | 13 |
| construction,
reconstruction, improvement, financing, | 14 |
| architectural planning and
installation of capital | 15 |
| facilities consisting of buildings, structures,
durable | 16 |
| equipment and land for grants to counties, municipalities | 17 |
| or public
building commissions with correctional | 18 |
| facilities that do not comply with
the minimum standards of | 19 |
| the Department of Corrections under Section 3-15-2
of the | 20 |
| Unified Code of Corrections;
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| (k) $5,000,000 for grants in fiscal year 1988 by the | 22 |
| Department of
Conservation for improvement or expansion of | 23 |
| aquarium facilities located on
property owned by a park | 24 |
| district;
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| (l)
$730,590,000 $432,590,000 to State agencies and | 26 |
| authorities for grants to
local governments , |
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| not-for-profit and community organizations for
the | 2 |
| acquisition, financing, architectural planning, | 3 |
| development, alteration,
installation, and construction of | 4 |
| capital facilities consisting of buildings,
structures, | 5 |
| durable equipment, and land; and
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| (m) $203,500,000 for the Illinois Open Land Trust
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| Program
as defined by the
Illinois Open Land Trust Act.
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| The amounts authorized above for capital facilities may be | 9 |
| used
for the acquisition, installation, alteration, | 10 |
| construction, or
reconstruction of capital facilities and for | 11 |
| the purchase of equipment
for the purpose of major capital | 12 |
| improvements which will reduce energy
consumption in State | 13 |
| buildings or facilities.
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| (Source: P.A. 91-39, 6-15-99; 91-53, eff. 6-30-99; 91-710, eff. | 15 |
| 5-17-00;
92-13, eff. 6-22-01; 92-598, eff. 6-28-02.)
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| (30 ILCS 330/4) (from Ch. 127, par. 654)
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| Sec. 4. Transportation. The amount of $6,773,399,000
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| $5,313,399,000
is authorized for use by the Department of | 19 |
| Transportation for the specific
purpose of promoting and | 20 |
| assuring rapid, efficient, and safe highway, air and
mass | 21 |
| transportation for the inhabitants of the State by providing | 22 |
| monies,
including the making of grants and loans, for the | 23 |
| acquisition, construction,
reconstruction, extension and | 24 |
| improvement of the following transportation
facilities and | 25 |
| equipment, and for the acquisition of real property and
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| interests in real property required or expected to be required | 2 |
| in connection
therewith as follows:
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| (a)
$4,062,129,000 $3,432,129,000 for State highways, | 4 |
| arterial
highways, freeways,
roads, bridges, structures | 5 |
| separating highways and railroads and roads, and
bridges on | 6 |
| roads maintained by counties, municipalities, townships or | 7 |
| road
districts for the following specific purposes:
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| (1)
$3,960,000,000 $3,330,000,000 for use statewide,
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| (2) $3,677,000 for use outside the Chicago urbanized
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| area,
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| (3) $7,543,000 for use within the Chicago urbanized | 12 |
| area,
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| (4) $13,060,600 for use within the City of Chicago,
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| (5) $58,987,500 for use within the counties of Cook,
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| DuPage, Kane, Lake, McHenry and Will, and
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| (6) $18,860,900 for use outside the counties of Cook, | 17 |
| DuPage, Kane,
Lake, McHenry and Will.
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| (b) $2,193,670,000
$1,529,670,000 for rail facilities and | 19 |
| for
mass transit facilities, as defined in Section 2705-305 of | 20 |
| the Department of
Transportation Law (20 ILCS 2705/2705-305), | 21 |
| including rapid transit, rail, bus
and other equipment used in | 22 |
| connection therewith by the State or any unit of
local | 23 |
| government, special transportation district, municipal | 24 |
| corporation or
other corporation or public authority | 25 |
| authorized to provide and promote public
transportation within | 26 |
| the State or two or more of the foregoing jointly, for
the |
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| following specific purposes:
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| (1) $2,097,870,000
$1,433,870,000 statewide,
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| (2) $83,350,000 for use within the counties of Cook,
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| DuPage, Kane, Lake, McHenry and Will,
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| (3) $12,450,000 for use outside the counties of Cook,
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| DuPage, Kane, Lake, McHenry and Will.
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| (c)
$351,600,000 for airport or aviation facilities and any | 8 |
| equipment used
in connection therewith, including engineering | 9 |
| and land acquisition costs,
by the State or any unit of local | 10 |
| government, special transportation district,
municipal | 11 |
| corporation or other corporation or public authority | 12 |
| authorized
to provide public transportation within the State, | 13 |
| or two or more of the
foregoing acting jointly, and for the | 14 |
| making of deposits into the Airport
Land Loan Revolving Fund | 15 |
| for loans to public airport owners pursuant to the
Illinois | 16 |
| Aeronautics Act.
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| (d) $166,000,000 for use statewide for State highways, | 18 |
| arterial highways, freeways, roads, bridges, structures | 19 |
| separating highways and railroads and roads, and bridges on | 20 |
| roads maintained by counties, municipalities, townships or | 21 |
| road districts. | 22 |
| (Source: P.A. 91-39, eff. 6-15-99; 91-239, eff. 1-1-00; 91-712, | 23 |
| eff. 7-1-00;
92-13, eff. 6-22-01.)
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| (30 ILCS 330/5) (from Ch. 127, par. 655)
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| Sec. 5. School Construction.
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| (a) The amount of $58,450,000 is authorized to
make grants | 2 |
| to local school
districts for the acquisition, development, | 3 |
| construction, reconstruction,
rehabilitation, improvement, | 4 |
| financing, architectural planning and
installation of capital | 5 |
| facilities, including but not limited to those
required for | 6 |
| special
education building projects provided for in Article 14 | 7 |
| of The School Code,
consisting of buildings, structures, and | 8 |
| durable equipment, and for the
acquisition and improvement of | 9 |
| real property and interests in real property
required, or | 10 |
| expected to be required, in connection therewith.
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| (b) $22,550,000, or so much thereof as may be necessary, | 12 |
| for grants to
school districts for the making of principal and | 13 |
| interest payments, required
to be made, on bonds issued by such | 14 |
| school districts after January 1, 1969,
pursuant to any | 15 |
| indenture, ordinance, resolution, agreement or contract
to | 16 |
| provide funds for the acquisition, development, construction,
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| reconstruction, rehabilitation, improvement, architectural | 18 |
| planning and installation of
capital facilities consisting of | 19 |
| buildings, structures, durable equipment
and land for | 20 |
| educational purposes or for lease payments required to be made
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| by a school district for principal and interest payments on | 22 |
| bonds issued
by a Public Building Commission after January 1, | 23 |
| 1969.
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| (c) $10,000,000 for grants to school districts for the | 25 |
| acquisition,
development, construction, reconstruction, | 26 |
| rehabilitation, improvement,
architectural
planning and |
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| installation of capital facilities consisting of buildings
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| structures, durable equipment and land for special education | 3 |
| building projects.
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| (d) $9,000,000 for grants to school districts for the | 5 |
| reconstruction,
rehabilitation, improvement, financing and | 6 |
| architectural planning of capital
facilities, including | 7 |
| construction at another location to replace such capital
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| facilities, consisting of those public school buildings and | 9 |
| temporary school
facilities which, prior to January 1, 1984, | 10 |
| were condemned by the regional
superintendent under Section | 11 |
| 3-14.22 of The School Code or by any State
official having | 12 |
| jurisdiction over building safety.
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| (e) $3,349,000,000 $3,050,000,000 for grants to school | 14 |
| districts for
school improvement
projects authorized by the | 15 |
| School Construction Law. The bonds shall be sold in
amounts not | 16 |
| to exceed the following schedule, except any bonds not sold | 17 |
| during
one year shall be added to the bonds to be sold during | 18 |
| the remainder of the
schedule:
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| First year ..................................$200,000,000
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| Second year .................................$450,000,000
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| Third year ..................................$500,000,000
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| Fourth year .................................$500,000,000
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| Fifth year ..................................$800,000,000
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| Sixth year and thereafter ...................$600,000,000
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| Seventh year ................................$280,000,000 | 26 |
| Eighth year and thereafter ...................$19,000,000 |
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| (Source: P.A. 91-39, eff. 6-15-99; 92-598, eff. 6-28-02.)
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| (30 ILCS 330/7) (from Ch. 127, par. 657)
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| Sec. 7. Coal and Energy Development. The amount of | 4 |
| $748,200,000
$663,200,000 is
authorized to be used by the | 5 |
| Department of Commerce and Economic Opportunity (formerly | 6 |
| Department of Commerce and Community Affairs) for
coal and | 7 |
| energy development purposes, pursuant to Sections 2, 3 and 3.1 | 8 |
| of the
Illinois Coal and Energy Development Bond Act, for the | 9 |
| purposes
specified
in Section 8.1 of the Energy Conservation | 10 |
| and Coal Development Act, and for
the purposes specified in | 11 |
| Section 605-332 of the Department of Commerce and
Economic | 12 |
| Opportunity Law of the Civil Administrative Code of Illinois. | 13 |
| Of this
amount:
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| (a) $170,000,000
$115,000,000 is
for the specific purposes | 15 |
| of acquisition,
development, construction, reconstruction, | 16 |
| improvement, financing,
architectural and technical planning | 17 |
| and installation of capital facilities
consisting of | 18 |
| buildings, structures, durable equipment, and land for the
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| purpose of capital development of coal resources within the | 20 |
| State and for the
purposes specified in Section 8.1 of the | 21 |
| Energy Conservation and Coal
Development Act;
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| (b) $35,000,000 is for the purposes specified in Section | 23 |
| 8.1 of the
Energy
Conservation and Coal Development Act and | 24 |
| making a grant to the owner of a
generating station
located in | 25 |
| Illinois and having at least three coal-fired generating units
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| with accredited summer capability greater than 500 megawatts | 2 |
| each at such
generating station as provided in Section 6 of | 3 |
| that Bond Act;
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| (c) $43,200,000 $13,200,000 is for research, development | 5 |
| and demonstration
of forms of energy
other than that derived | 6 |
| from coal, either on or off State property; and
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| (d) $500,000,000 is for the purpose of providing financial | 8 |
| assistance to
new
electric generating facilities as provided in | 9 |
| Section 605-332 of the Department
of Commerce and Economic | 10 |
| Opportunity Law of the Civil Administrative Code of
Illinois.
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| (Source: P.A. 94-793, eff. 5-19-06.)
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| (30 ILCS 330/12) (from Ch. 127, par. 662)
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| Sec. 12. Allocation of Proceeds from Sale of Bonds.
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| (a) Proceeds from the sale of Bonds, authorized by Section | 15 |
| 3 of this Act,
shall be deposited in the separate fund known as | 16 |
| the Capital Development Fund , provided however that | 17 |
| $656,000,000 in proceeds from the sale of Bonds, as authorized | 18 |
| by Section 3 of this Act, as amended by this amendatory Act of | 19 |
| the 95th General Assembly, shall be deposited into the Illinois | 20 |
| Works Fund .
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| (b) Proceeds from the sale of Bonds, authorized by | 22 |
| paragraph (a) of Section
4 of this Act, shall be deposited in | 23 |
| the separate fund known as the
Transportation Bond, Series A | 24 |
| Fund , provided however that $630,000,000 in proceeds from the | 25 |
| sale of Bonds, as authorized by subsection (a) of Section 4 of |
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| this Act, as amended by this amendatory Act of the 95th General | 2 |
| Assembly, shall be deposited into the Illinois Works Fund .
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| (c) Proceeds from the sale of Bonds, authorized by | 4 |
| paragraphs (b) and (c)
of Section 4 of this Act, shall be | 5 |
| deposited in the separate fund known
as the Transportation | 6 |
| Bond, Series B Fund , provided however that $664,000,000 in | 7 |
| proceeds from the sale of Bonds, as authorized by subsections | 8 |
| (b) and (c) of Section 4 of this Act, as amended by this | 9 |
| amendatory Act of the 95th General Assembly, shall be deposited | 10 |
| into the Illinois Works Fund .
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| (c-1) Proceeds from the sale of Bonds, authorized by | 12 |
| paragraph (d) of Section 4 of this Act, shall be deposited in | 13 |
| the separate fund known as the Illinois Works Fund. | 14 |
| (d) Proceeds from the sale of Bonds, authorized by Section | 15 |
| 5 of this
Act, shall be deposited in the separate fund known as | 16 |
| the School Construction
Fund , provided however that | 17 |
| $299,000,000 in proceeds from the sale of Bonds, as authorized | 18 |
| by Section 5 of this Act, as amended by this amendatory Act of | 19 |
| the 95th General Assembly, shall be deposited into the Illinois | 20 |
| Works Fund .
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| (e) Proceeds from the sale of Bonds, authorized by Section | 22 |
| 6 of this Act,
shall be deposited in the separate fund known as | 23 |
| the Anti-Pollution Fund.
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| (f) Proceeds from the sale of Bonds, authorized by Section | 25 |
| 7 of this Act,
shall be deposited in the separate fund known as | 26 |
| the Coal Development Fund , provided however that $85,000,000 in |
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| proceeds from the sale of Bonds, as authorized by Section 7 of | 2 |
| this Act, as amended by this amendatory Act of the 95th General | 3 |
| Assembly, shall be deposited into the Illinois Works Fund .
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| (f-2) Proceeds from the sale of Bonds, authorized by | 5 |
| Section 7.2 of this
Act, shall be deposited as set forth in | 6 |
| Section 7.2.
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| (f-5) Proceeds from the sale of Bonds, authorized by | 8 |
| Section 7.5 of this
Act, shall be deposited as set forth in | 9 |
| Section 7.5.
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| (g) Proceeds from the sale of Bonds, authorized by Section | 11 |
| 8 of this Act,
shall be deposited in
the Capital Development | 12 |
| Fund.
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| (h) Subsequent to the issuance of any Bonds for the | 14 |
| purposes described
in Sections 2 through 8 of this Act, the | 15 |
| Governor and the Director of the
Governor's Office of | 16 |
| Management and Budget may provide for the reallocation of | 17 |
| unspent proceeds
of such Bonds to any other purposes authorized | 18 |
| under said Sections of this
Act, subject to the limitations on | 19 |
| aggregate principal amounts contained
therein. Upon any such | 20 |
| reallocation, such unspent proceeds shall be
transferred to the | 21 |
| appropriate funds as determined by reference to
paragraphs (a) | 22 |
| through (g) of this Section.
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| (Source: P.A. 93-2, eff. 4-7-03; 94-793, eff. 5-19-06.)
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| ARTICLE 99. |
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| Section 99-99. Effective date. This Act takes effect upon | 2 |
| becoming law.".
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