State of Illinois
90th General Assembly
Legislation

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[ Introduced ][ House Amendment 001 ]

90_HB0487eng

      20 ILCS 3105/1A-1.15 new
      20 ILCS 3105/1A-1.3       from Ch. 127, par. 783.1-3
      30 ILCS 330/2             from Ch. 127, par. 652
      30 ILCS 330/5             from Ch. 127, par. 655
          Amends the Capital Development Board Act and the  General
      Obligation Bond Act.  Increases the State's bonding authority
      by  $360,000,000,  earmarking  that  increase  for grants for
      school construction projects in  downstate  school  districts
      (i)  which  are  located in a county that has a population of
      less than 500,000 and that is not contiguous to a county with
      a population in excess of 3,000,000 and  (ii)  which  operate
      schools  that  meet  specified  criteria that are to be given
      priority consideration by the State  Board  of  Education  in
      determining the priority order of School Construction Project
      grants  made  by  the  Capital  Development Board.  Effective
      immediately.
                                                    LRB9002331THpkA
HB0487 Engrossed                              LRB9002331THpkA
 1        AN  ACT  relating  to  bonds  for   school   construction
 2    projects, amending named Acts.
 3        Be  it  enacted  by  the People of the State of Illinois,
 4    represented in the General Assembly:
 5        Section 5.  The Capital Development Board Act is  amended
 6    by  adding  Section  1A-1.15  and  changing Section 1A-1.3 as
 7    follows:
 8        (20 ILCS 3105/1A-1.15 new)
 9        Sec. 1A-1.15.  From funds  appropriated  by  the  General
10    Assembly  from  the  School  Construction  Fund, the Board is
11    authorized to make grants in accordance with  the  provisions
12    of  this  Act  for  School  Construction  Projects authorized
13    pursuant to subsection  (e)  of  Section  5  of  the  General
14    Obligation  Bond  Act.   Those grants shall be based on grant
15    entitlements issued by the State Board of Education and shall
16    be made by the Board to school districts in  accordance  with
17    the  priority  order provided by the State Board of Education
18    under  the  priority  considerations  described  therefor  in
19    Section 1A-1.3 of this Act.
20        (20 ILCS 3105/1A-1.3) (from Ch. 127, par. 783.1-3)
21        Sec. 1A-1.3.  The State Board of Education is  authorized
22    to  issue  grant entitlements for Planning Assistance, School
23    Construction Projects and Debt Service  and  shall  determine
24    the   priority  order  for  Planning  Assistance  and  School
25    Construction Project grants to be made by the Board. However,
26    in determining the priority  order  for  School  Construction
27    Project  grants  to  be made by the Board and the issuance of
28    grant entitlements therefor under  Section  1A-1.15  of  this
29    Act,  the  State  Board  of  Education  shall  give  priority
30    consideration  to School Construction Projects for (i) school
HB0487 Engrossed            -2-               LRB9002331THpkA
 1    districts that because of debt limitations applicable to  the
 2    district under Section 19-1 of the School Code are unable, or
 3    unable except by referendum, to incur additional indebtedness
 4    by  the  issuance  of bonds for school construction purposes,
 5    and (ii)  schools  with  fire  and  Health/Life  Safety  Code
 6    violations,  child  safety  concerns, pupil overcrowding, and
 7    facilities that are not conducive to the teaching  of  modern
 8    technologies.
 9    (Source: P.A. 79-1098.)
10        Section  10.   The General Obligation Bond Act is amended
11    by changing Sections 2 and 5 as follows:
12        (30 ILCS 330/2) (from Ch. 127, par. 652)
13        Sec. 2. Authorization for Bonds.  The State  of  Illinois
14    is  authorized  to issue, sell and provide for the retirement
15    of General Obligation Bonds of the State of Illinois  in  the
16    total  amount  of $9,165,508,392 $8,805,508,392 herein called
17    "Bonds".
18        Of the total amount of  bonds  authorized  above,  up  to
19    $2,200,000,000  in aggregate original principal amount may be
20    issued and sold in accordance with the Baccalaureate  Savings
21    Act in the form of General Obligation College Savings Bonds.
22        Of  the  total  amount  of  bonds authorized above, up to
23    $300,000,000 in aggregate original principal  amount  may  be
24    issued and sold in accordance with the Retirement Savings Act
25    in the form of General Obligation Retirement Savings Bonds.
26        The  issuance  and  sale of Bonds pursuant to the General
27    Obligation Bond Act is an economical and efficient method  of
28    financing  the  capital  needs  of  the State.  This Act will
29    permit the issuance of  a  multi-purpose  General  Obligation
30    Bond  with  uniform  terms  and features.  This will not only
31    lower the cost of registration but also  reduce  the  overall
32    cost  of  issuing  debt  by  improving  the  marketability of
HB0487 Engrossed            -3-               LRB9002331THpkA
 1    Illinois General Obligation Bonds.
 2        Bonds shall be issued for  the  categories  and  specific
 3    purposes  expressed in Sections 2 through 8 and Section 16 of
 4    this Act.
 5    (Source: P.A. 90-1, eff. 2-20-97.)
 6        (30 ILCS 330/5) (from Ch. 127, par. 655)
 7        Sec.  5.   School  Construction.  (a)   The   amount   of
 8    $58,450,000  is  authorized  to  make  grants to local school
 9    districts for  the  acquisition,  development,  construction,
10    reconstruction,   rehabilitation,   improvement,   financing,
11    architectural    planning   and   installation   of   capital
12    facilities, including but not limited to those  required  for
13    special  education  building projects provided for in Article
14    14 of The School Code, consisting of  buildings,  structures,
15    and   durable   equipment,   and   for  the  acquisition  and
16    improvement of real property and interests in  real  property
17    required,   or   expected   to  be  required,  in  connection
18    therewith.
19        (b)  $22,550,000, or so much thereof as may be necessary,
20    for grants to school districts for the  making  of  principal
21    and  interest  payments, required to be made, on bonds issued
22    by such school districts after January 1, 1969,  pursuant  to
23    any  indenture,  ordinance, resolution, agreement or contract
24    to  provide   funds   for   the   acquisition,   development,
25    construction,  reconstruction,  rehabilitation,  improvement,
26    architectural planning and installation of capital facilities
27    consisting  of  buildings,  structures, durable equipment and
28    land for educational purposes or for lease payments  required
29    to  be  made  by a school district for principal and interest
30    payments on bonds issued  by  a  Public  Building  Commission
31    after January 1, 1969.
32        (c)  $10,000,000  for  grants to school districts for the
33    acquisition,   development,   construction,   reconstruction,
HB0487 Engrossed            -4-               LRB9002331THpkA
 1    rehabilitation,  improvement,  architectural   planning   and
 2    installation  of  capital  facilities consisting of buildings
 3    structures, durable equipment and land for special  education
 4    building projects.
 5        (d)  $9,000,000  for  grants  to school districts for the
 6    reconstruction, rehabilitation,  improvement,  financing  and
 7    architectural   planning  of  capital  facilities,  including
 8    construction at another  location  to  replace  such  capital
 9    facilities,  consisting  of those public school buildings and
10    temporary school facilities which, prior to January 1,  1984,
11    were  condemned  by the regional superintendent under Section
12    3-14.22 of The School Code or by any  State  official  having
13    jurisdiction over building safety.
14        (e)  $360,000,000  for  grants  to local school districts
15    for    the    acquisition,     development,     construction,
16    reconstruction,   rehabilitation,   improvement,   financing,
17    architectural    planning   and   installation   of   capital
18    facilities, including but not limited to those  required  for
19    special  education  building projects provided for in Article
20    14 of the School Code, consisting of  buildings,  structures,
21    and   durable   equipment,   and   for  the  acquisition  and
22    improvement of real property and interests in  real  property
23    required,   or   expected   to  be  required,  in  connection
24    therewith.  School  district  projects  eligible  for  grants
25    pursuant  to  this subsection (e) are subject to the criteria
26    that, under the provisions of Section 1A-1.3 of  the  Capital
27    Development Board Act, are entitled to priority consideration
28    from   the   State   Board  of  Education  in  issuing  grant
29    entitlements and determining the  priority  order  of  School
30    Construction  Project  grants  that  are  to  be  made by the
31    Capital Development Board under Section 1A-1.15 of that Act.
32    (Source: P.A. 84-1227.)
33        Section 99.  Effective date.  This Act takes effect  upon
HB0487 Engrossed            -5-               LRB9002331THpkA
 1    becoming law.

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