Full Text of SB2176 100th General Assembly
SB2176 100TH GENERAL ASSEMBLY |
| | 100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018 SB2176 Introduced 3/28/2017, by Sen. William E. Brady SYNOPSIS AS INTRODUCED: |
| 30 ILCS 330/2 | from Ch. 127, par. 652 | 30 ILCS 330/3 | from Ch. 127, par. 653 | 30 ILCS 425/2 | from Ch. 127, par. 2802 | 30 ILCS 425/4 | from Ch. 127, par. 2804 |
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Amends the General Obligation Bond Act. Increases the total authorization under the Act from $49,917,925,743 to $50,451,925,743. Includes specific increases for capital facilities. Amends the Build Illinois Bond Act. Increases the total authorization under the Act from $6,246,009,000 to $6,735,609,000. Includes specific increases for: bond sale expenses and public infrastructure; economic development, development and
improvement of educational,
scientific, technical and vocational programs and facilities; and the
expansion of health and human services. Effective immediately.
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| | FISCAL NOTE ACT MAY APPLY | | STATE DEBT IMPACT NOTE ACT MAY APPLY |
| | A BILL FOR |
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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 General Obligation Bond Act is amended by | 5 | | changing Sections 2 and 3 as follows: | 6 | | (30 ILCS 330/2) (from Ch. 127, par. 652) | 7 | | Sec. 2. Authorization for Bonds. The State of Illinois is | 8 | | authorized to
issue, sell and provide for the retirement of | 9 | | General Obligation Bonds of
the State of Illinois for the | 10 | | categories and specific purposes expressed in
Sections 2 | 11 | | through 8 of this Act, in the total amount of $50,451,925,743 | 12 | | $49,917,925,743 . | 13 | | The bonds authorized in this Section 2 and in Section 16 of | 14 | | this Act are
herein called "Bonds". | 15 | | Of the total amount of Bonds authorized in this Act, up to | 16 | | $2,200,000,000
in aggregate original principal amount may be | 17 | | issued and sold in accordance
with the Baccalaureate Savings | 18 | | Act in the form of General Obligation
College Savings Bonds. | 19 | | Of the total amount of Bonds authorized in this Act, up to | 20 | | $300,000,000 in
aggregate original principal amount may be | 21 | | issued and sold in accordance
with the Retirement Savings Act | 22 | | in the form of General Obligation
Retirement Savings Bonds. | 23 | | Of the total amount of Bonds authorized in this Act, the |
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| 1 | | additional
$10,000,000,000 authorized by Public Act 93-2, the | 2 | | $3,466,000,000 authorized by Public Act 96-43, and the | 3 | | $4,096,348,300 authorized by Public Act 96-1497 shall be used | 4 | | solely as provided in Section 7.2. | 5 | | The issuance and sale of Bonds pursuant to the General | 6 | | Obligation Bond
Act is an economical and efficient method of | 7 | | financing the long-term capital needs of
the State. This Act | 8 | | will permit the issuance of a multi-purpose General
Obligation | 9 | | Bond with uniform terms and features. This will not only lower
| 10 | | the cost of registration but also reduce the overall cost of | 11 | | issuing debt
by improving the marketability of Illinois General | 12 | | Obligation Bonds. | 13 | | (Source: P.A. 97-333, eff. 8-12-11; 97-771, eff. 7-10-12; | 14 | | 97-813, eff. 7-13-12; 98-94, eff. 7-17-13; 98-463, eff. | 15 | | 8-16-13; 98-781, eff. 7-22-14.)
| 16 | | (30 ILCS 330/3) (from Ch. 127, par. 653)
| 17 | | Sec. 3. Capital Facilities. The amount of $10,268,963,443 | 18 | | $9,753,963,443 is authorized
to be used for the acquisition, | 19 | | development, construction, reconstruction,
improvement, | 20 | | financing, architectural planning and installation of capital
| 21 | | facilities within the State, consisting of buildings, | 22 | | structures, durable
equipment, land, interests in land, and the | 23 | | costs associated with the purchase and implementation of | 24 | | information technology, including but not limited to the | 25 | | purchase of hardware and software, for the following specific |
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| 1 | | purposes:
| 2 | | (a) $3,399,728,000 $3,393,228,000 for educational | 3 | | purposes by
State universities and
colleges, the Illinois | 4 | | Community College Board created by the Public
Community | 5 | | College Act and for grants to public community colleges as
| 6 | | authorized by Sections 5-11 and 5-12 of the Public | 7 | | Community College Act;
| 8 | | (b) $1,648,420,000 for correctional purposes at
State
| 9 | | prison and correctional centers;
| 10 | | (c) $599,183,000 for open spaces, recreational and
| 11 | | conservation purposes and the protection of land;
| 12 | | (d) $782,817,000 $751,317,000 for child care | 13 | | facilities, mental
and public health facilities, and | 14 | | facilities for the care of veterans with disabilities and | 15 | | their spouses;
| 16 | | (e) $2,629,790,000 $2,152,790,000 for use by the | 17 | | State, its
departments, authorities, public corporations, | 18 | | commissions and agencies;
| 19 | | (f) $818,100 for cargo handling facilities at port | 20 | | districts and for
breakwaters, including harbor entrances, | 21 | | at port districts in conjunction
with facilities for small | 22 | | boats and pleasure crafts;
| 23 | | (g) $297,177,074 for water resource management
| 24 | | projects;
| 25 | | (h) $16,940,269 for the provision of facilities for | 26 | | food production
research and related instructional and |
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| 1 | | public service activities at the
State universities and | 2 | | public community colleges;
| 3 | | (i) $36,000,000 for grants by the Secretary of State, | 4 | | as
State
Librarian, for central library facilities | 5 | | authorized by Section 8
of the Illinois Library System Act | 6 | | and for grants by the Capital
Development Board to units of | 7 | | local government for public library
facilities;
| 8 | | (j) $25,000,000 for the acquisition, development, | 9 | | construction,
reconstruction, improvement, financing, | 10 | | architectural planning and
installation of capital | 11 | | facilities consisting of buildings, structures,
durable | 12 | | equipment and land for grants to counties, municipalities | 13 | | or public
building commissions with correctional | 14 | | facilities that do not comply with
the minimum standards of | 15 | | the Department of Corrections under Section 3-15-2
of the | 16 | | Unified Code of Corrections;
| 17 | | (k) $5,000,000 for grants in fiscal year 1988 by the | 18 | | Department of
Conservation for improvement or expansion of | 19 | | aquarium facilities located on
property owned by a park | 20 | | district;
| 21 | | (l) $599,590,000 to State agencies for grants to
local | 22 | | governments for
the acquisition, financing, architectural | 23 | | planning, development, alteration,
installation, and | 24 | | construction of capital facilities consisting of | 25 | | buildings,
structures, durable equipment, and land; and
| 26 | | (m) $228,500,000 for the Illinois Open Land Trust
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| 1 | | Program
as defined by the
Illinois Open Land Trust Act.
| 2 | | The amounts authorized above for capital facilities may be | 3 | | used
for the acquisition, installation, alteration, | 4 | | construction, or
reconstruction of capital facilities and for | 5 | | the purchase of equipment
for the purpose of major capital | 6 | | improvements which will reduce energy
consumption in State | 7 | | buildings or facilities.
| 8 | | (Source: P.A. 98-94, eff. 7-17-13; 99-143, eff. 7-27-15.)
| 9 | | Section 10. The Build Illinois Bond Act is amended by | 10 | | changing Sections 2 and 4 as follows:
| 11 | | (30 ILCS 425/2) (from Ch. 127, par. 2802)
| 12 | | Sec. 2. Authorization for Bonds. The State of Illinois is
| 13 | | authorized to issue, sell and provide for the retirement of | 14 | | limited
obligation bonds, notes and other evidences of | 15 | | indebtedness of the State of
Illinois in the total principal | 16 | | amount of $6,735,609,000 $6,246,009,000
herein called "Bonds". | 17 | | Such authorized amount of Bonds shall
be reduced from time to | 18 | | time by amounts, if any, which are equal to the
moneys received | 19 | | by the Department of Revenue in any fiscal year pursuant to
| 20 | | Section 3-1001 of the "Illinois Vehicle Code", as amended, in | 21 | | excess of the
Annual Specified Amount (as defined in Section 3 | 22 | | of the "Retailers'
Occupation Tax Act", as amended) and | 23 | | transferred at the end of such fiscal
year from the General | 24 | | Revenue Fund to the Build Illinois Purposes Fund (now |
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| 1 | | abolished) as
provided in Section 3-1001 of said Code; | 2 | | provided, however, that no such
reduction shall affect the | 3 | | validity or enforceability of any Bonds issued
prior to such | 4 | | reduction. Such amount of authorized Bonds
shall be exclusive | 5 | | of any refunding Bonds issued pursuant to Section 15 of
this | 6 | | Act and exclusive of any Bonds issued pursuant to this Section | 7 | | which
are redeemed, purchased, advance refunded, or defeased in | 8 | | accordance with
paragraph (f) of Section 4 of this Act. Bonds | 9 | | shall be issued for the
categories and specific purposes | 10 | | expressed in Section 4 of this Act.
| 11 | | (Source: P.A. 98-94, eff. 7-17-13.)
| 12 | | (30 ILCS 425/4) (from Ch. 127, par. 2804)
| 13 | | Sec. 4. Purposes of Bonds. Bonds shall be issued for the | 14 | | following
purposes and in the approximate amounts as set forth | 15 | | below:
| 16 | | (a) $3,687,800,000 $3,222,800,000 for the expenses of | 17 | | issuance and
sale of Bonds, including bond discounts, and for | 18 | | planning, engineering,
acquisition, construction, | 19 | | reconstruction, development, improvement and
extension of the | 20 | | public infrastructure in the State of Illinois, including: the
| 21 | | making of loans or grants to local governments for waste | 22 | | disposal systems,
water and sewer line extensions and water | 23 | | distribution and purification
facilities, rail or air or water | 24 | | port improvements, gas and electric utility
extensions, | 25 | | publicly owned industrial and commercial sites, buildings
used |
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| 1 | | for public administration purposes and other public | 2 | | infrastructure capital
improvements; the making of loans or | 3 | | grants to units of local government
for financing and | 4 | | construction of wastewater facilities, including grants to | 5 | | serve unincorporated areas; refinancing or
retiring bonds | 6 | | issued between January 1, 1987 and January 1,
1990 by home rule | 7 | | municipalities, debt service on which is provided from a
tax | 8 | | imposed by home rule municipalities prior to January 1, 1990 on | 9 | | the
sale of food and drugs pursuant to Section 8-11-1 of the | 10 | | Home Rule
Municipal Retailers' Occupation Tax Act or Section | 11 | | 8-11-5 of the Home
Rule Municipal Service Occupation Tax Act; | 12 | | the making of deposits not
to exceed $70,000,000 in the | 13 | | aggregate into
the Water Pollution Control Revolving Fund to | 14 | | provide assistance in
accordance with the provisions of Title | 15 | | IV-A of the Environmental
Protection Act; the planning, | 16 | | engineering, acquisition,
construction, reconstruction, | 17 | | alteration, expansion, extension and
improvement of highways, | 18 | | bridges, structures separating highways and
railroads, rest | 19 | | areas, interchanges, access
roads to and from any State or | 20 | | local highway and other transportation
improvement projects | 21 | | which are related to
economic development activities; the | 22 | | making of loans or grants for
planning, engineering, | 23 | | rehabilitation, improvement or construction of rail
and | 24 | | transit facilities; the planning, engineering, acquisition,
| 25 | | construction, reconstruction and improvement of watershed, | 26 | | drainage, flood
control, recreation and related improvements |
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| 1 | | and facilities, including
expenses related to land and easement | 2 | | acquisition, relocation, control
structures, channel work and | 3 | | clearing and appurtenant work; the making of
grants for | 4 | | improvement and development of zoos and park district field
| 5 | | houses and related structures; and the making of grants for | 6 | | improvement and
development of Navy Pier and related | 7 | | structures.
| 8 | | (b) $852,000,000 $849,000,000 for fostering economic | 9 | | development and
increased employment and the well being of the | 10 | | citizens of Illinois, including:
the making of grants for | 11 | | improvement and development of McCormick Place and
related | 12 | | structures; the
planning and construction of a | 13 | | microelectronics research center, including
the planning, | 14 | | engineering, construction, improvement, renovation and
| 15 | | acquisition of buildings, equipment and related utility | 16 | | support systems;
the making of loans to businesses and | 17 | | investments in small businesses;
acquiring real properties for | 18 | | industrial or commercial site development;
acquiring, | 19 | | rehabilitating and reconveying industrial and commercial
| 20 | | properties for the purpose of expanding employment and | 21 | | encouraging private
and other public sector investment in the | 22 | | economy of Illinois; the payment
of expenses associated with | 23 | | siting the Superconducting Super Collider Particle
Accelerator | 24 | | in Illinois and with its acquisition, construction,
| 25 | | maintenance, operation, promotion and support; the making of | 26 | | loans for the
planning, engineering, acquisition, |
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| 1 | | construction, improvement and
conversion of facilities and | 2 | | equipment which will foster the use of
Illinois coal; the | 3 | | payment of expenses associated with the
promotion, | 4 | | establishment, acquisition and operation of small business
| 5 | | incubator facilities and agribusiness research facilities, | 6 | | including the lease,
purchase, renovation, planning, | 7 | | engineering, construction and maintenance of
buildings, | 8 | | utility support systems and equipment designated for such
| 9 | | purposes and the establishment and maintenance of centralized | 10 | | support
services within such facilities; and the making of | 11 | | grants or loans to
units of local government for Urban | 12 | | Development Action Grant and Housing
Partnership programs.
| 13 | | (c) $1,959,058,100 $1,944,058,100 for the development and
| 14 | | improvement of educational,
scientific, technical and | 15 | | vocational programs and facilities and the
expansion of health | 16 | | and human services for all citizens of Illinois,
including: the | 17 | | making of construction and improvement grants and loans
to | 18 | | public libraries
and library systems; the making of grants and | 19 | | loans for planning,
engineering, acquisition and construction
| 20 | | of a new State central library in Springfield; the planning, | 21 | | engineering,
acquisition and construction of an animal and | 22 | | dairy sciences facility; the
planning, engineering, | 23 | | acquisition and construction of a campus and all
related | 24 | | buildings, facilities, equipment and materials for Richland
| 25 | | Community College; the acquisition, rehabilitation and | 26 | | installation of
equipment and materials for scientific and |
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| 1 | | historical surveys; the making of
grants or loans for | 2 | | distribution to eligible vocational education instructional
| 3 | | programs for the upgrading of vocational education programs, | 4 | | school shops
and laboratories, including the acquisition, | 5 | | rehabilitation and
installation of technical equipment and | 6 | | materials; the making of grants or
loans for distribution to | 7 | | eligible local educational agencies for the
upgrading of math | 8 | | and science instructional programs, including the
acquisition | 9 | | of instructional equipment and materials; miscellaneous | 10 | | capital
improvements for universities and community colleges | 11 | | including the
planning, engineering,
construction, | 12 | | reconstruction, remodeling, improvement, repair and
| 13 | | installation of capital facilities and costs of planning, | 14 | | supplies,
equipment, materials, services, and all other | 15 | | required expenses; the
making of grants or loans for repair, | 16 | | renovation and miscellaneous capital
improvements for | 17 | | privately operated colleges and universities and community
| 18 | | colleges, including the planning, engineering, acquisition, | 19 | | construction,
reconstruction, remodeling,
improvement, repair | 20 | | and installation of capital facilities and costs of
planning, | 21 | | supplies, equipment, materials, services, and all other | 22 | | required
expenses; and the making of grants or loans for | 23 | | distribution to local
governments for hospital and other health | 24 | | care facilities including the
planning, engineering, | 25 | | acquisition, construction, reconstruction,
remodeling, | 26 | | improvement, repair and installation of capital facilities and
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| 1 | | costs of planning, supplies, equipment, materials, services | 2 | | and all other
required expenses.
| 3 | | (d) $236,750,900 $230,150,900 for protection, | 4 | | preservation,
restoration and conservation of environmental | 5 | | and natural resources,
including: the making of grants to soil | 6 | | and water conservation districts
for the planning and | 7 | | implementation of conservation practices and for
funding | 8 | | contracts with the Soil Conservation Service for watershed
| 9 | | planning; the making of grants to units of local government for | 10 | | the
capital development and improvement of recreation areas, | 11 | | including
planning and engineering costs, sewer projects, | 12 | | including planning and
engineering costs and water projects, | 13 | | including planning
and engineering costs, and for the | 14 | | acquisition of open space lands,
including the acquisition of | 15 | | easements and other property interests of less
than fee simple | 16 | | ownership; the acquisition and related costs and development
| 17 | | and management of natural heritage lands, including natural | 18 | | areas and areas
providing habitat for
endangered species and | 19 | | nongame wildlife, and buffer area lands; the
acquisition and | 20 | | related costs and development and management of
habitat lands, | 21 | | including forest, wildlife habitat and wetlands;
and the | 22 | | removal and disposition of hazardous substances, including the | 23 | | cost of
project management, equipment, laboratory analysis, | 24 | | and contractual services
necessary for preventative and | 25 | | corrective actions related to the preservation,
restoration | 26 | | and conservation of the environment, including deposits not to
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| 1 | | exceed $60,000,000 in the aggregate into the Hazardous Waste | 2 | | Fund and the
Brownfields Redevelopment Fund for improvements in | 3 | | accordance with the
provisions of Titles V and XVII of the | 4 | | Environmental Protection Act.
| 5 | | (e) The amount specified in paragraph (a) above
shall | 6 | | include an amount necessary to pay reasonable expenses of each
| 7 | | issuance and sale of the Bonds, as specified in the related | 8 | | Bond Sale Order
(hereinafter defined).
| 9 | | (f) Any unexpended proceeds from any sale of
Bonds which | 10 | | are held in the Build Illinois Bond Fund may be used to redeem,
| 11 | | purchase, advance refund, or defease any Bonds outstanding.
| 12 | | (Source: P.A. 98-94, eff. 7-17-13.)
| 13 | | Section 99. Effective date. This Act takes effect upon | 14 | | becoming law.
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