Illinois General Assembly - Full Text of HB1465
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Full Text of HB1465  98th General Assembly




State of Illinois
2013 and 2014


Introduced , by Rep. Christian L Mitchell


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.

LRB098 08883 HLH 39014 b





HB1465LRB098 08883 HLH 39014 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
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



HB1465- 2 -LRB098 08883 HLH 39014 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.