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90_SB0201
30 ILCS 425/2 from Ch. 127, par. 2802
30 ILCS 425/4 from Ch. 127, par. 2804
Amends the Build Illinois Bond Act. Increases the bond
authorization for the expenses of issuance and sale of Bonds,
including bond discounts, and for planning, engineering,
acquisition, construction, reconstruction, development,
improvement, and extension of the public infrastructure in
the State by $900,000,000. Authorizes the issuance of
$1,000,000,000 in Bonds for the construction of elementary
and secondary public schools. Effective immediately.
LRB9001258KDks
LRB9001258KDks
1 AN ACT to amend the Build Illinois Bond Act by changing
2 Sections 2 and 4.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Build Illinois Bond Act is amended by
6 changing Sections 2 and 4 as follows:
7 (30 ILCS 425/2) (from Ch. 127, par. 2802)
8 Sec. 2. Authorization for Bonds. The State of Illinois
9 is authorized to issue, sell and provide for the retirement
10 of limited obligation bonds, notes and other evidences of
11 indebtedness of the State of Illinois in the total principal
12 amount of $3,936,500,000 $2,036,500,000 herein called
13 "Bonds". Such authorized amount of Bonds shall be reduced
14 from time to time by amounts, if any, which are equal to the
15 moneys received by the Department of Revenue in any fiscal
16 year pursuant to Section 3-1001 of the "Illinois Vehicle
17 Code", as amended, in excess of the Annual Specified Amount
18 (as defined in Section 3 of the "Retailers' Occupation Tax
19 Act", as amended) and transferred at the end of such fiscal
20 year from the General Revenue Fund to the Build Illinois
21 Purposes Fund as provided in Section 3-1001 of said Code;
22 provided, however, that no such reduction shall affect the
23 validity or enforceability of any Bonds issued prior to such
24 reduction. Such amount of authorized Bonds shall be
25 exclusive of any refunding Bonds issued pursuant to Section
26 15 of this Act and exclusive of any Bonds issued pursuant to
27 this Section which are redeemed, purchased, advance refunded,
28 or defeased in accordance with paragraph (f) of Section 4 of
29 this Act. Bonds shall be issued for the categories and
30 specific purposes expressed in Section 4 of this Act.
31 (Source: P.A. 86-44; 86-78; 86-1473.)
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1 (30 ILCS 425/4) (from Ch. 127, par. 2804)
2 Sec. 4. Purposes of Bonds. Bonds shall be issued for the
3 following purposes and in the approximate amounts as set
4 forth below:
5 (a) $2,370,419,000 $1,470,419,000 for the expenses of
6 issuance and sale of Bonds, including bond discounts, and for
7 planning, engineering, acquisition, construction,
8 reconstruction, development, improvement and extension of the
9 public infrastructure in the State of Illinois, including:
10 the making of loans or grants to local governments for waste
11 disposal systems, water and sewer line extensions and water
12 distribution and purification facilities, rail or air or
13 water port improvements, gas and electric utility extensions,
14 publicly owned industrial and commercial sites, buildings
15 used for public administration purposes and other public
16 infrastructure capital improvements; the making of loans or
17 grants to units of local government for financing and
18 construction of wastewater facilities; refinancing or
19 retiring bonds issued between January 1, 1987 and January 1,
20 1990 by home rule municipalities, debt service on which is
21 provided from a tax imposed by home rule municipalities prior
22 to January 1, 1990 on the sale of food and drugs pursuant to
23 Section 8-11-1 of the Home Rule Municipal Retailers'
24 Occupation Tax Act or Section 8-11-5 of the Home Rule
25 Municipal Service Occupation Tax Act; the making of deposits
26 not to exceed $70,000,000 in the aggregate into the Water
27 Pollution Control Revolving Fund to provide assistance in
28 accordance with the provisions of Title IV-A of the
29 Environmental Protection Act; the planning, engineering,
30 acquisition, construction, reconstruction, alteration,
31 expansion, extension and improvement of highways, bridges,
32 structures separating highways and railroads, rest areas,
33 interchanges, access roads to and from any State or local
34 highway and other transportation improvement projects which
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1 are related to economic development activities; the making of
2 loans or grants for planning, engineering, rehabilitation,
3 improvement or construction of rail and transit facilities;
4 the planning, engineering, acquisition, construction,
5 reconstruction and improvement of watershed, drainage, flood
6 control, recreation and related improvements and facilities,
7 including expenses related to land and easement acquisition,
8 relocation, control structures, channel work and clearing and
9 appurtenant work; the making of grants for improvement and
10 development of zoos and park district field houses and
11 related structures; and the making of grants for improvement
12 and development of Navy Pier and related structures.
13 (b) $46,301,500 for fostering economic development and
14 increased employment and the well being of the citizens of
15 Illinois, including: the making of grants for improvement and
16 development of McCormick Place and related structures; the
17 planning and construction of a microelectronics research
18 center, including the planning, engineering, construction,
19 improvement, renovation and acquisition of buildings,
20 equipment and related utility support systems; the making of
21 loans to businesses and investments in small businesses;
22 acquiring real properties for industrial or commercial site
23 development; acquiring, rehabilitating and reconveying
24 industrial and commercial properties for the purpose of
25 expanding employment and encouraging private and other public
26 sector investment in the economy of Illinois; the payment of
27 expenses associated with siting the Superconducting Super
28 Collider Particle Accelerator in Illinois and with its
29 acquisition, construction, maintenance, operation, promotion
30 and support; the making of loans for the planning,
31 engineering, acquisition, construction, improvement and
32 conversion of facilities and equipment which will foster the
33 use of Illinois coal; the payment of expenses associated with
34 the promotion, establishment, acquisition and operation of
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1 small business incubator facilities and agribusiness research
2 facilities, including the lease, purchase, renovation,
3 planning, engineering, construction and maintenance of
4 buildings, utility support systems and equipment designated
5 for such purposes and the establishment and maintenance of
6 centralized support services within such facilities; and the
7 making of grants or loans to units of local government for
8 Urban Development Action Grant and Housing Partnership
9 programs.
10 (c) $461,128,600 for the development and improvement of
11 educational, scientific, technical and vocational programs
12 and facilities and the expansion of health and human services
13 for all citizens of Illinois, including: the making of
14 construction and improvement grants and loans to public
15 libraries and library systems; the making of grants and loans
16 for planning, engineering, acquisition and construction of a
17 new State central library in Springfield; the planning,
18 engineering, acquisition and construction of an animal and
19 dairy sciences facility; the planning, engineering,
20 acquisition and construction of a campus and all related
21 buildings, facilities, equipment and materials for Richland
22 Community College; the acquisition, rehabilitation and
23 installation of equipment and materials for scientific and
24 historical surveys; the making of grants or loans for
25 distribution to eligible vocational education instructional
26 programs for the upgrading of vocational education programs,
27 school shops and laboratories, including the acquisition,
28 rehabilitation and installation of technical equipment and
29 materials; the making of grants or loans for distribution to
30 eligible local educational agencies for the upgrading of math
31 and science instructional programs, including the acquisition
32 of instructional equipment and materials; miscellaneous
33 capital improvements for universities and community colleges
34 including the planning, engineering, construction,
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1 reconstruction, remodeling, improvement, repair and
2 installation of capital facilities and costs of planning,
3 supplies, equipment, materials, services, and all other
4 required expenses; the making of grants or loans for repair,
5 renovation and miscellaneous capital improvements for
6 privately operated colleges and universities and community
7 colleges, including the planning, engineering, acquisition,
8 construction, reconstruction, remodeling, improvement, repair
9 and installation of capital facilities and costs of planning,
10 supplies, equipment, materials, services, and all other
11 required expenses; and the making of grants or loans for
12 distribution to local governments for hospital and other
13 health care facilities including the planning, engineering,
14 acquisition, construction, reconstruction, remodeling,
15 improvement, repair and installation of capital facilities
16 and costs of planning, supplies, equipment, materials,
17 services and all other required expenses.
18 (d) $58,650,900 for protection, preservation,
19 restoration and conservation of environmental and natural
20 resources, including: the making of grants to soil and water
21 conservation districts for the planning and implementation of
22 conservation practices and for funding contracts with the
23 Soil Conservation Service for watershed planning; the making
24 of grants to units of local government for the capital
25 development and improvement of recreation areas, including
26 planning and engineering costs, sewer projects, including
27 planning and engineering costs and water projects, including
28 planning and engineering costs, and for the acquisition of
29 open space lands, including the acquisition of easements and
30 other property interests of less than fee simple ownership;
31 the acquisition and related costs and development and
32 management of natural heritage lands, including natural areas
33 and areas providing habitat for endangered species and
34 nongame wildlife, and buffer area lands; the acquisition and
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1 related costs and development and management of habitat
2 lands, including forest, wildlife habitat and wetlands; and
3 the removal and disposition of hazardous substances,
4 including the cost of project management, equipment,
5 laboratory analysis, and contractual services necessary for
6 preventative and corrective actions related to the
7 preservation, restoration and conservation of the
8 environment.
9 (d-5) $1,000,000,000 for the planning, engineering,
10 acquisition, and construction of elementary and secondary
11 public schools.
12 (e) The amount specified in paragraph (a) above shall
13 include an amount necessary to pay reasonable expenses of
14 each issuance and sale of the Bonds, as specified in the
15 related Bond Sale Order (hereinafter defined).
16 (f) Any unexpended proceeds from any sale of Bonds which
17 are held in the Build Illinois Bond Fund may be used to
18 redeem, purchase, advance refund, or defease any Bonds
19 outstanding.
20 (Source: P.A. 86-44; 86-78; 86-1028; 86-1473; 87-873.)
21 Section 99. Effective date. This Act takes effect upon
22 becoming law.