Full Text of HB2869 98th General Assembly
HB2869enr 98TH GENERAL ASSEMBLY |
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| 1 | | AN ACT concerning finance.
| 2 | | Be it enacted by the People of the State of Illinois,
| 3 | | represented in the General Assembly:
| 4 | | Section 5. The State Finance Act is amended by changing | 5 | | Section 6z-78 as follows: | 6 | | (30 ILCS 105/6z-78)
| 7 | | Sec. 6z-78. Capital Projects Fund; bonded indebtedness; | 8 | | transfers. Money in the Capital Projects Fund shall, if and | 9 | | when the State of Illinois incurs any bonded indebtedness using | 10 | | the bond authorizations enacted in Public Act 96-36, Public Act | 11 | | 96-1554, Public Act 97-771, and this amendatory Act of the 98th | 12 | | 97th General Assembly, be set aside and used for the purpose of | 13 | | paying and discharging annually the principal and interest on | 14 | | that bonded indebtedness then due and payable. | 15 | | In addition to other transfers to the General Obligation | 16 | | Bond Retirement and Interest Fund made pursuant to Section 15 | 17 | | of the General Obligation Bond Act, upon each delivery of | 18 | | general obligation bonds using bond authorizations enacted in | 19 | | Public Act 96-36, Public Act 96-1554, Public Act 97-771, and | 20 | | this amendatory Act of the 98th 97th General Assembly the State | 21 | | Comptroller shall compute and certify to the State Treasurer | 22 | | the total amount of principal of, interest on, and premium, if | 23 | | any, on such bonds during the then current and each succeeding |
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| 1 | | fiscal year. With respect to the interest payable on variable | 2 | | rate bonds, such certifications shall be calculated at the | 3 | | maximum rate of interest that may be payable during the fiscal | 4 | | year, after taking into account any credits permitted in the | 5 | | related indenture or other instrument against the amount of | 6 | | such interest required to be appropriated for the period. | 7 | | (a) Except as provided for in subsection (b), on or before | 8 | | the last day of each month, the State Treasurer and State | 9 | | Comptroller shall transfer from the Capital Projects Fund to | 10 | | the General Obligation Bond Retirement and Interest Fund an | 11 | | amount sufficient to pay the aggregate of the principal of, | 12 | | interest on, and premium, if any, on the bonds payable on their | 13 | | next payment date, divided by the number of monthly transfers | 14 | | occurring between the last previous payment date (or the | 15 | | delivery date if no payment date has yet occurred) and the next | 16 | | succeeding payment date. Interest payable on variable rate | 17 | | bonds shall be calculated at the maximum rate of interest that | 18 | | may be payable for the relevant period, after taking into | 19 | | account any credits permitted in the related indenture or other | 20 | | instrument against the amount of such interest required to be | 21 | | appropriated for that period. Interest for which moneys have | 22 | | already been deposited into the capitalized interest account | 23 | | within the General Obligation Bond Retirement and Interest Fund | 24 | | shall not be included in the calculation of the amounts to be | 25 | | transferred under this subsection.
| 26 | | (b) On or before the last day of each month, the State |
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| 1 | | Treasurer and State Comptroller shall transfer from the Capital | 2 | | Projects Fund to the General Obligation Bond Retirement and | 3 | | Interest Fund an amount sufficient to pay the aggregate of the | 4 | | principal of, interest on, and premium, if any, on the bonds | 5 | | issued prior to January 1, 2012 pursuant to Section 4(d) of the | 6 | | General Obligation Bond Act payable on their next payment date, | 7 | | divided by the number of monthly transfers occurring between | 8 | | the last previous payment date (or the delivery date if no | 9 | | payment date has yet occurred) and the next succeeding payment | 10 | | date. If the available balance in the Capital Projects Fund is | 11 | | not sufficient for the transfer required in this subsection, | 12 | | the State Treasurer and State Comptroller shall transfer the | 13 | | difference from the Road Fund to the General Obligation Bond | 14 | | Retirement and Interest Fund; except that such Road Fund | 15 | | transfers shall constitute a debt of the Capital Projects Fund | 16 | | which shall be repaid according to subsection (c). Interest | 17 | | payable on variable rate bonds shall be calculated at the | 18 | | maximum rate of interest that may be payable for the relevant | 19 | | period, after taking into account any credits permitted in the | 20 | | related indenture or other instrument against the amount of | 21 | | such interest required to be appropriated for that period. | 22 | | Interest for which moneys have already been deposited into the | 23 | | capitalized interest account within the General Obligation | 24 | | Bond Retirement and Interest Fund shall not be included in the | 25 | | calculation of the amounts to be transferred under this | 26 | | subsection. |
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| 1 | | (c) On the first day of any month when the Capital Projects | 2 | | Fund is carrying a debt to the Road Fund due to the provisions | 3 | | of subsection (b), the State Treasurer and State Comptroller | 4 | | shall transfer from the Capital Projects Fund to the Road Fund | 5 | | an amount sufficient to discharge that debt. These transfers to | 6 | | the Road Fund shall continue until the Capital Projects Fund | 7 | | has repaid to the Road Fund all transfers made from the Road | 8 | | Fund pursuant to subsection (b). Notwithstanding any other law | 9 | | to the contrary, transfers to the Road Fund from the Capital | 10 | | Projects Fund shall be made prior to any other expenditures or | 11 | | transfers out of the Capital Projects Fund. | 12 | | (Source: P.A. 96-36, eff. 7-13-09; 96-820, eff. 11-18-09; | 13 | | 96-1554, eff. 3-18-11; 97-771, eff. 7-10-12.) | 14 | | Section 10. The General Obligation Bond Act is amended by | 15 | | changing Sections 2, 3, 4, 5, 6, and 7 as follows: | 16 | | (30 ILCS 330/2) (from Ch. 127, par. 652) | 17 | | Sec. 2. Authorization for Bonds. The State of Illinois is | 18 | | authorized to
issue, sell and provide for the retirement of | 19 | | General Obligation Bonds of
the State of Illinois for the | 20 | | categories and specific purposes expressed in
Sections 2 | 21 | | through 8 of this Act, in the total amount of $49,317,925,743 | 22 | | $47,092,925,743 $45,476,125,743 . | 23 | | The bonds authorized in this Section 2 and in Section 16 of | 24 | | this Act are
herein called "Bonds". |
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| 1 | | Of the total amount of Bonds authorized in this Act, up to | 2 | | $2,200,000,000
in aggregate original principal amount may be | 3 | | issued and sold in accordance
with the Baccalaureate Savings | 4 | | Act in the form of General Obligation
College Savings Bonds. | 5 | | Of the total amount of Bonds authorized in this Act, up to | 6 | | $300,000,000 in
aggregate original principal amount may be | 7 | | issued and sold in accordance
with the Retirement Savings Act | 8 | | in the form of General Obligation
Retirement Savings Bonds. | 9 | | Of the total amount of Bonds authorized in this Act, the | 10 | | additional
$10,000,000,000 authorized by Public Act 93-2, the | 11 | | $3,466,000,000 authorized by Public Act 96-43, and the | 12 | | $4,096,348,300 authorized by Public Act 96-1497 shall be used | 13 | | solely as provided in Section 7.2. | 14 | | 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
| 19 | | the cost of registration but also reduce the overall cost of | 20 | | issuing debt
by improving the marketability of Illinois General | 21 | | Obligation Bonds. | 22 | | (Source: P.A. 96-5, eff. 4-3-09; 96-36, eff. 7-13-09; 96-43, | 23 | | eff. 7-15-09; 96-885, eff. 3-11-10; 96-1000, eff. 7-2-10; | 24 | | 96-1497, eff. 1-14-11; 96-1554, eff. 3-18-11; 97-333, eff. | 25 | | 8-12-11; 97-771, eff. 7-10-12; 97-813, eff. 7-13-12; revised | 26 | | 7-23-12.)
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| 1 | | (30 ILCS 330/3) (from Ch. 127, par. 653)
| 2 | | Sec. 3. Capital Facilities. The amount of $9,753,963,443 | 3 | | $8,900,463,443 is authorized
to be used for the acquisition, | 4 | | development, construction, reconstruction,
improvement, | 5 | | financing, architectural planning and installation of capital
| 6 | | facilities within the State, consisting of buildings, | 7 | | structures, durable
equipment, land, interests in land, and the | 8 | | costs associated with the purchase and implementation of | 9 | | information technology, including but not limited to the | 10 | | purchase of hardware and software, for the following specific | 11 | | purposes:
| 12 | | (a) $3,393,228,000 $3,007,228,000 for educational | 13 | | purposes by
State universities and
colleges, the Illinois | 14 | | Community College Board created by the Public
Community | 15 | | College Act and for grants to public community colleges as
| 16 | | authorized by Sections 5-11 and 5-12 of the Public | 17 | | Community College Act;
| 18 | | (b) $1,648,420,000 for correctional purposes at
State
| 19 | | prison and correctional centers;
| 20 | | (c) $599,183,000 for open spaces, recreational and
| 21 | | conservation purposes and the protection of land;
| 22 | | (d) $751,317,000 $691,917,000 for child care | 23 | | facilities, mental
and public health facilities, and | 24 | | facilities for the care of disabled
veterans and their | 25 | | spouses;
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| 1 | | (e) $2,152,790,000 $1,777,990,000 for use by the | 2 | | State, its
departments, authorities, public corporations, | 3 | | commissions and agencies;
| 4 | | (f) $818,100 for cargo handling facilities at port | 5 | | districts and for
breakwaters, including harbor entrances, | 6 | | at port districts in conjunction
with facilities for small | 7 | | boats and pleasure crafts;
| 8 | | (g) $297,177,074 $274,877,074 for water resource | 9 | | management
projects;
| 10 | | (h) $16,940,269 for the provision of facilities for | 11 | | food production
research and related instructional and | 12 | | public service activities at the
State universities and | 13 | | public community colleges;
| 14 | | (i) $36,000,000 for grants by the Secretary of State, | 15 | | as
State
Librarian, for central library facilities | 16 | | authorized by Section 8
of the Illinois Library System Act | 17 | | and for grants by the Capital
Development Board to units of | 18 | | local government for public library
facilities;
| 19 | | (j) $25,000,000 for the acquisition, development, | 20 | | construction,
reconstruction, improvement, financing, | 21 | | architectural planning and
installation of capital | 22 | | facilities consisting of buildings, structures,
durable | 23 | | equipment and land for grants to counties, municipalities | 24 | | or public
building commissions with correctional | 25 | | facilities that do not comply with
the minimum standards of | 26 | | the Department of Corrections under Section 3-15-2
of the |
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| 1 | | Unified Code of Corrections;
| 2 | | (k) $5,000,000 for grants in fiscal year 1988 by the | 3 | | Department of
Conservation for improvement or expansion of | 4 | | aquarium facilities located on
property owned by a park | 5 | | district;
| 6 | | (l) $599,590,000 $588,590,000 to State agencies for | 7 | | grants to
local governments for
the acquisition, | 8 | | financing, architectural planning, development, | 9 | | alteration,
installation, and construction of capital | 10 | | facilities consisting of buildings,
structures, durable | 11 | | equipment, and land; and
| 12 | | (m) $228,500,000 for the Illinois Open Land Trust
| 13 | | Program
as defined by the
Illinois Open Land Trust Act.
| 14 | | The amounts authorized above for capital facilities may be | 15 | | used
for the acquisition, installation, alteration, | 16 | | construction, or
reconstruction of capital facilities and for | 17 | | the purchase of equipment
for the purpose of major capital | 18 | | improvements which will reduce energy
consumption in State | 19 | | buildings or facilities.
| 20 | | (Source: P.A. 96-36, eff. 7-13-09; 96-37, eff. 7-13-09; | 21 | | 96-1000, eff. 7-2-10; 96-1554, eff. 3-18-11.)
| 22 | | (30 ILCS 330/4) (from Ch. 127, par. 654)
| 23 | | Sec. 4. Transportation. The amount of $14,848,199,000 | 24 | | $14,060,599,000
is authorized for use by the Department of | 25 | | Transportation for the specific
purpose of promoting and |
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| 1 | | assuring rapid, efficient, and safe highway, air and
mass | 2 | | transportation for the inhabitants of the State by providing | 3 | | monies,
including the making of grants and loans, for the | 4 | | acquisition, construction,
reconstruction, extension and | 5 | | improvement of the following transportation
facilities and | 6 | | equipment, and for the acquisition of real property and
| 7 | | interests in real property required or expected to be required | 8 | | in connection
therewith as follows:
| 9 | | (a) $5,432,129,000 for State highways, arterial
highways, | 10 | | freeways,
roads, bridges, structures separating highways and | 11 | | railroads and roads, and
bridges on roads maintained by | 12 | | counties, municipalities, townships or road
districts for the | 13 | | following specific purposes:
| 14 | | (1) $3,330,000,000 for use statewide,
| 15 | | (2) $3,677,000 for use outside the Chicago urbanized
| 16 | | area,
| 17 | | (3) $7,543,000 for use within the Chicago urbanized | 18 | | area,
| 19 | | (4) $13,060,600 for use within the City of Chicago,
| 20 | | (5) $58,987,500 for use within the counties of Cook,
| 21 | | DuPage, Kane, Lake, McHenry and Will,
| 22 | | (6) $18,860,900 for use outside the counties of Cook, | 23 | | DuPage, Kane,
Lake, McHenry and Will, and
| 24 | | (7) $2,000,000,000 for use on projects included in | 25 | | either (i) the FY09-14 Proposed Highway Improvement | 26 | | Program as published by the Illinois Department of |
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| 1 | | Transportation in May 2008 or (ii) the FY10-15 Proposed | 2 | | Highway Improvement Program to be published by the Illinois | 3 | | Department of Transportation in the spring of 2009; except | 4 | | that all projects must be maintenance projects for the | 5 | | existing State system with the goal of reaching 90% | 6 | | acceptable condition in the system statewide and further | 7 | | except that all projects must reflect the generally | 8 | | accepted historical distribution of projects throughout | 9 | | the State. | 10 | | (b) $5,379,670,000 $5,079,570,000 for rail facilities and | 11 | | for
mass transit facilities, as defined in Section 2705-305 of | 12 | | the Department of
Transportation Law (20 ILCS 2705/2705-305), | 13 | | including rapid transit, rail, bus
and other equipment used in | 14 | | connection therewith by the State or any unit of
local | 15 | | government, special transportation district, municipal | 16 | | corporation or
other corporation or public authority | 17 | | authorized to provide and promote public
transportation within | 18 | | the State or two or more of the foregoing jointly, for
the | 19 | | following specific purposes:
| 20 | | (1) $4,283,870,000 $3,983,770,000 statewide,
| 21 | | (2) $83,350,000 for use within the counties of Cook,
| 22 | | DuPage, Kane, Lake, McHenry and Will,
| 23 | | (3) $12,450,000 for use outside the counties of Cook,
| 24 | | DuPage, Kane, Lake, McHenry and Will, and
| 25 | | (4) $1,000,000,000 for use on projects that shall | 26 | | reflect the generally accepted historical distribution of |
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| 1 | | projects throughout the State. | 2 | | (c) $482,600,000 for airport or aviation facilities and any | 3 | | equipment used
in connection therewith, including engineering | 4 | | and land acquisition costs,
by the State or any unit of local | 5 | | government, special transportation district,
municipal | 6 | | corporation or other corporation or public authority | 7 | | authorized
to provide public transportation within the State, | 8 | | or two or more of the
foregoing acting jointly, and for the | 9 | | making of deposits into the Airport
Land Loan Revolving Fund | 10 | | for loans to public airport owners pursuant to the
Illinois | 11 | | Aeronautics Act.
| 12 | | (d) $3,553,800,000 $3,066,300,000 for use statewide for | 13 | | State or local highways, arterial highways, freeways, roads, | 14 | | bridges, and structures separating highways and railroads and | 15 | | roads, and for grants to counties, municipalities, townships, | 16 | | or road districts for planning, engineering, acquisition, | 17 | | construction, reconstruction, development, improvement, | 18 | | extension, and all construction-related expenses of the public | 19 | | infrastructure and other transportation improvement projects | 20 | | which are related to economic development in the State of | 21 | | Illinois. | 22 | | (Source: P.A. 96-5, eff. 4-3-09; 96-36, eff. 7-13-09; 96-37, | 23 | | eff. 7-13-09; 96-1554, eff. 3-18-11; 97-771, eff. 7-10-12.)
| 24 | | (30 ILCS 330/5) (from Ch. 127, par. 655)
| 25 | | Sec. 5. School Construction.
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| 1 | | (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.
| 11 | | (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,
| 17 | | 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
| 21 | | by a school district for principal and interest payments on | 22 | | bonds issued
by a Public Building Commission after January 1, | 23 | | 1969.
| 24 | | (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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| 1 | | installation of capital facilities consisting of buildings
| 2 | | structures, durable equipment and land for special education | 3 | | building projects.
| 4 | | (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
| 8 | | 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.
| 13 | | (e) $3,050,000,000 for grants to school districts for
| 14 | | school improvement
projects authorized by the School | 15 | | Construction Law. The bonds shall be sold in
amounts not to | 16 | | exceed the following schedule, except any bonds not sold during
| 17 | | one year shall be added to the bonds to be sold during the | 18 | | remainder of the
schedule:
| 19 | | First year ...................................$200,000,000
| 20 | | Second year ..................................$450,000,000
| 21 | | Third year ...................................$500,000,000
| 22 | | Fourth year ..................................$500,000,000
| 23 | | Fifth year ...................................$800,000,000
| 24 | | Sixth year and thereafter ....................$600,000,000
| 25 | | (f) $1,600,000,000 $1,066,000,000 grants to school | 26 | | districts for school implemented projects authorized by the |
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| 1 | | School Construction Law. | 2 | | (Source: P.A. 96-36, eff. 7-13-09; 96-1554, eff. 3-18-11.)
| 3 | | (30 ILCS 330/6) (from Ch. 127, par. 656)
| 4 | | Sec. 6. Anti-Pollution.
| 5 | | (a) The amount of $443,215,000 $422,815,000 is authorized | 6 | | for
allocation by the
Environmental Protection Agency for | 7 | | grants or loans to units of local
government in such amounts, | 8 | | at such times and for such purpose as the Agency
deems | 9 | | necessary or desirable for the planning, financing, and | 10 | | construction of
municipal sewage treatment works and solid | 11 | | waste disposal facilities and for
making of deposits into the | 12 | | Water Revolving Fund and
the U.S. Environmental Protection Fund | 13 | | to provide assistance in accordance
with the provisions of | 14 | | Title IV-A of the Environmental Protection Act.
| 15 | | (b) The amount of $236,500,000 is authorized for allocation | 16 | | by the
Environmental Protection Agency for payment of claims | 17 | | submitted to the State
and approved for payment under the | 18 | | Leaking Underground Storage Tank Program
established in Title | 19 | | XVI of the Environmental Protection Act.
| 20 | | (Source: P.A. 96-36, eff. 7-13-09; 96-1554, eff. 3-18-11.)
| 21 | | (30 ILCS 330/7) (from Ch. 127, par. 657) | 22 | | Sec. 7. Coal and Energy Development. The amount of | 23 | | $742,700,000 $698,200,000 is
authorized to be used by the | 24 | | Department of Commerce and Economic Opportunity (formerly |
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| 1 | | Department of Commerce and Community Affairs) for
coal and | 2 | | energy development purposes, pursuant to Sections 2, 3 and 3.1 | 3 | | of the
Illinois Coal and Energy Development Bond Act, for the | 4 | | purposes
specified
in Section 8.1 of the Energy Conservation | 5 | | and Coal Development Act, for
the purposes specified in Section | 6 | | 605-332 of the Department of Commerce and
Economic Opportunity | 7 | | Law of the Civil Administrative Code of Illinois, and for the | 8 | | purpose of facility cost reports prepared pursuant to Sections | 9 | | 1-58 or 1-75(d)(4) of the Illinois Power Agency Act and for the | 10 | | purpose of development costs pursuant to Section 8.1 of the | 11 | | Energy Conservation and Coal Development Act. Of this
amount: | 12 | | (a) $143,500,000 $115,000,000 is
for the specific purposes | 13 | | of acquisition,
development, construction, reconstruction, | 14 | | improvement, financing,
architectural and technical planning | 15 | | and installation of capital facilities
consisting of | 16 | | buildings, structures, durable equipment, and land for the
| 17 | | purpose of capital development of coal resources within the | 18 | | State and for the
purposes specified in Section 8.1 of the | 19 | | Energy Conservation and Coal
Development Act; | 20 | | (b) $35,000,000 is for the purposes specified in Section | 21 | | 8.1 of the
Energy
Conservation and Coal Development Act and | 22 | | making grants to generating stations and coal gasification | 23 | | facilities within the State of Illinois and to the owner of a
| 24 | | generating station
located in Illinois and having at least | 25 | | three coal-fired generating units
with accredited summer | 26 | | capability greater than 500 megawatts each at such
generating |
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| 1 | | station as provided in Section 6 of that Bond Act; | 2 | | (c) $13,200,000 is for research, development and | 3 | | demonstration
of forms of energy
other than that derived from | 4 | | coal, either on or off State property; | 5 | | (d) $500,000,000 is for the purpose of providing financial | 6 | | assistance to
new
electric generating facilities as provided in | 7 | | Section 605-332 of the Department
of Commerce and Economic | 8 | | Opportunity Law of the Civil Administrative Code of
Illinois; | 9 | | and | 10 | | (e) $51,000,000 $50,000,000 is for the purpose of facility | 11 | | cost reports prepared for not more than one facility pursuant | 12 | | to Section 1-75(d)(4) of the Illinois Power Agency Act and not | 13 | | more than one facility pursuant to Section 1-58 of the Illinois | 14 | | Power Agency Act and for the purpose of up to $6,000,000 of | 15 | | development costs pursuant to Section 8.1 of the Energy | 16 | | Conservation and Coal Development Act. | 17 | | (Source: P.A. 95-1026, eff. 1-12-09; 96-781, eff. 8-28-09; | 18 | | 96-1000, eff. 7-2-10; 96-1465, eff. 8-20-10; 96-1554, eff. | 19 | | 3-18-11.) | 20 | | Section 15. The Build Illinois Bond Act is amended by | 21 | | changing Sections 2 and 4 as follows:
| 22 | | (30 ILCS 425/2) (from Ch. 127, par. 2802)
| 23 | | Sec. 2. Authorization for Bonds. The State of Illinois is
| 24 | | authorized to issue, sell and provide for the retirement of |
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| 1 | | limited
obligation bonds, notes and other evidences of | 2 | | indebtedness of the State of
Illinois in the total principal | 3 | | amount of $6,246,009,000 $5,703,509,000
herein called "Bonds". | 4 | | Such authorized amount of Bonds shall
be reduced from time to | 5 | | time by amounts, if any, which are equal to the
moneys received | 6 | | by the Department of Revenue in any fiscal year pursuant to
| 7 | | Section 3-1001 of the "Illinois Vehicle Code", as amended, in | 8 | | excess of the
Annual Specified Amount (as defined in Section 3 | 9 | | of the "Retailers'
Occupation Tax Act", as amended) and | 10 | | transferred at the end of such fiscal
year from the General | 11 | | Revenue Fund to the Build Illinois Purposes Fund (now | 12 | | abolished) as
provided in Section 3-1001 of said Code; | 13 | | provided, however, that no such
reduction shall affect the | 14 | | validity or enforceability of any Bonds issued
prior to such | 15 | | reduction. Such amount of authorized Bonds
shall be exclusive | 16 | | of any refunding Bonds issued pursuant to Section 15 of
this | 17 | | Act and exclusive of any Bonds issued pursuant to this Section | 18 | | which
are redeemed, purchased, advance refunded, or defeased in | 19 | | accordance with
paragraph (f) of Section 4 of this Act. Bonds | 20 | | shall be issued for the
categories and specific purposes | 21 | | expressed in Section 4 of this Act.
| 22 | | (Source: P.A. 96-36, eff. 7-13-09; 96-1554, eff. 3-18-11.)
| 23 | | (30 ILCS 425/4) (from Ch. 127, par. 2804)
| 24 | | Sec. 4. Purposes of Bonds. Bonds shall be issued for the | 25 | | following
purposes and in the approximate amounts as set forth |
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| 1 | | below:
| 2 | | (a) $3,222,800,000 $3,213,000,000 for the expenses of | 3 | | issuance and
sale of Bonds, including bond discounts, and for | 4 | | planning, engineering,
acquisition, construction, | 5 | | reconstruction, development, improvement and
extension of the | 6 | | public infrastructure in the State of Illinois, including: the
| 7 | | making of loans or grants to local governments for waste | 8 | | disposal systems,
water and sewer line extensions and water | 9 | | distribution and purification
facilities, rail or air or water | 10 | | port improvements, gas and electric utility
extensions, | 11 | | publicly owned industrial and commercial sites, buildings
used | 12 | | for public administration purposes and other public | 13 | | infrastructure capital
improvements; the making of loans or | 14 | | grants to units of local government
for financing and | 15 | | construction of wastewater facilities, including grants to | 16 | | serve unincorporated areas; refinancing or
retiring bonds | 17 | | issued between January 1, 1987 and January 1,
1990 by home rule | 18 | | municipalities, debt service on which is provided from a
tax | 19 | | imposed by home rule municipalities prior to January 1, 1990 on | 20 | | the
sale of food and drugs pursuant to Section 8-11-1 of the | 21 | | Home Rule
Municipal Retailers' Occupation Tax Act or Section | 22 | | 8-11-5 of the Home
Rule Municipal Service Occupation Tax Act; | 23 | | the making of deposits not
to exceed $70,000,000 in the | 24 | | aggregate into
the Water Pollution Control Revolving Fund to | 25 | | provide assistance in
accordance with the provisions of Title | 26 | | IV-A of the Environmental
Protection Act; the planning, |
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| 1 | | engineering, acquisition,
construction, reconstruction, | 2 | | alteration, expansion, extension and
improvement of highways, | 3 | | bridges, structures separating highways and
railroads, rest | 4 | | areas, interchanges, access
roads to and from any State or | 5 | | local highway and other transportation
improvement projects | 6 | | which are related to
economic development activities; the | 7 | | making of loans or grants for
planning, engineering, | 8 | | rehabilitation, improvement or construction of rail
and | 9 | | transit facilities; the planning, engineering, acquisition,
| 10 | | construction, reconstruction and improvement of watershed, | 11 | | drainage, flood
control, recreation and related improvements | 12 | | and facilities, including
expenses related to land and easement | 13 | | acquisition, relocation, control
structures, channel work and | 14 | | clearing and appurtenant work; the making of
grants for | 15 | | improvement and development of zoos and park district field
| 16 | | houses and related structures; and the making of grants for | 17 | | improvement and
development of Navy Pier and related | 18 | | structures.
| 19 | | (b) $849,000,000 $541,000,000 for fostering economic | 20 | | development and
increased employment and the well being of the | 21 | | citizens of Illinois, including:
the making of grants for | 22 | | improvement and development of McCormick Place and
related | 23 | | structures; the
planning and construction of a | 24 | | microelectronics research center, including
the planning, | 25 | | engineering, construction, improvement, renovation and
| 26 | | acquisition of buildings, equipment and related utility |
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| 1 | | support systems;
the making of loans to businesses and | 2 | | investments in small businesses;
acquiring real properties for | 3 | | industrial or commercial site development;
acquiring, | 4 | | rehabilitating and reconveying industrial and commercial
| 5 | | properties for the purpose of expanding employment and | 6 | | encouraging private
and other public sector investment in the | 7 | | economy of Illinois; the payment
of expenses associated with | 8 | | siting the Superconducting Super Collider Particle
Accelerator | 9 | | in Illinois and with its acquisition, construction,
| 10 | | maintenance, operation, promotion and support; the making of | 11 | | loans for the
planning, engineering, acquisition, | 12 | | construction, improvement and
conversion of facilities and | 13 | | equipment which will foster the use of
Illinois coal; the | 14 | | payment of expenses associated with the
promotion, | 15 | | establishment, acquisition and operation of small business
| 16 | | incubator facilities and agribusiness research facilities, | 17 | | including the lease,
purchase, renovation, planning, | 18 | | engineering, construction and maintenance of
buildings, | 19 | | utility support systems and equipment designated for such
| 20 | | purposes and the establishment and maintenance of centralized | 21 | | support
services within such facilities; and the making of | 22 | | grants or loans to
units of local government for Urban | 23 | | Development Action Grant and Housing
Partnership programs.
| 24 | | (c) $1,944,058,100 $1,741,358,100 for the development and
| 25 | | improvement of educational,
scientific, technical and | 26 | | vocational programs and facilities and the
expansion of health |
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| 1 | | and human services for all citizens of Illinois,
including: the | 2 | | making of construction and improvement grants and loans
to | 3 | | public libraries
and library systems; the making of grants and | 4 | | loans for planning,
engineering, acquisition and construction
| 5 | | of a new State central library in Springfield; the planning, | 6 | | engineering,
acquisition and construction of an animal and | 7 | | dairy sciences facility; the
planning, engineering, | 8 | | acquisition and construction of a campus and all
related | 9 | | buildings, facilities, equipment and materials for Richland
| 10 | | Community College; the acquisition, rehabilitation and | 11 | | installation of
equipment and materials for scientific and | 12 | | historical surveys; the making of
grants or loans for | 13 | | distribution to eligible vocational education instructional
| 14 | | programs for the upgrading of vocational education programs, | 15 | | school shops
and laboratories, including the acquisition, | 16 | | rehabilitation and
installation of technical equipment and | 17 | | materials; the making of grants or
loans for distribution to | 18 | | eligible local educational agencies for the
upgrading of math | 19 | | and science instructional programs, including the
acquisition | 20 | | of instructional equipment and materials; miscellaneous | 21 | | capital
improvements for universities and community colleges | 22 | | including the
planning, engineering,
construction, | 23 | | reconstruction, remodeling, improvement, repair and
| 24 | | installation of capital facilities and costs of planning, | 25 | | supplies,
equipment, materials, services, and all other | 26 | | required expenses; the
making of grants or loans for repair, |
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| 1 | | renovation and miscellaneous capital
improvements for | 2 | | privately operated colleges and universities and community
| 3 | | colleges, including the planning, engineering, acquisition, | 4 | | construction,
reconstruction, remodeling,
improvement, repair | 5 | | and installation of capital facilities and costs of
planning, | 6 | | supplies, equipment, materials, services, and all other | 7 | | required
expenses; and the making of grants or loans for | 8 | | distribution to local
governments for hospital and other health | 9 | | care facilities including the
planning, engineering, | 10 | | acquisition, construction, reconstruction,
remodeling, | 11 | | improvement, repair and installation of capital facilities and
| 12 | | costs of planning, supplies, equipment, materials, services | 13 | | and all other
required expenses.
| 14 | | (d) $230,150,900 $208,150,900 for protection, | 15 | | preservation,
restoration and conservation of environmental | 16 | | and natural resources,
including: the making of grants to soil | 17 | | and water conservation districts
for the planning and | 18 | | implementation of conservation practices and for
funding | 19 | | contracts with the Soil Conservation Service for watershed
| 20 | | planning; the making of grants to units of local government for | 21 | | the
capital development and improvement of recreation areas, | 22 | | including
planning and engineering costs, sewer projects, | 23 | | including planning and
engineering costs and water projects, | 24 | | including planning
and engineering costs, and for the | 25 | | acquisition of open space lands,
including the acquisition of | 26 | | easements and other property interests of less
than fee simple |
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| 1 | | ownership; the acquisition and related costs and development
| 2 | | and management of natural heritage lands, including natural | 3 | | areas and areas
providing habitat for
endangered species and | 4 | | nongame wildlife, and buffer area lands; the
acquisition and | 5 | | related costs and development and management of
habitat lands, | 6 | | including forest, wildlife habitat and wetlands;
and the | 7 | | removal and disposition of hazardous substances, including the | 8 | | cost of
project management, equipment, laboratory analysis, | 9 | | and contractual services
necessary for preventative and | 10 | | corrective actions related to the preservation,
restoration | 11 | | and conservation of the environment, including deposits not to
| 12 | | exceed $60,000,000 in the aggregate into the Hazardous Waste | 13 | | Fund and the
Brownfields Redevelopment Fund for improvements in | 14 | | accordance with the
provisions of Titles V and XVII of the | 15 | | Environmental Protection Act.
| 16 | | (e) The amount specified in paragraph (a) above
shall | 17 | | include an amount necessary to pay reasonable expenses of each
| 18 | | issuance and sale of the Bonds, as specified in the related | 19 | | Bond Sale Order
(hereinafter defined).
| 20 | | (f) Any unexpended proceeds from any sale of
Bonds which | 21 | | are held in the Build Illinois Bond Fund may be used to redeem,
| 22 | | purchase, advance refund, or defease any Bonds outstanding.
| 23 | | (Source: P.A. 96-36, eff. 7-13-09; 96-503, eff. 8-14-09; | 24 | | 96-1000, eff. 7-2-10; 96-1554, eff. 3-18-11.)
| 25 | | Section 99. Effective date. This Act takes effect upon | 26 | | becoming law.
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