GO BOND ACT-REDUCTION
Synopsis of Bill as introduced:
Amends the General Obligation Bond Act by reducing by $1 the
total amount of General Obligation Bonds authorized under this Act.
STATE DEBT IMPACT NOTE
HB108 decreases the State's authority to issue, sell and retire
General Obligation Bonds by $1.
FISCAL NOTE (Bureau of Budget)
HB 108 will not increase or decrease state expenditures or re-
SENATE AMENDMENT NO. 1. (Senate recedes November 14, 1997)
Deletes effective date.
CONFERENCE COMMITTEE REPORT NO. 1.
Recommends that the Senate recede from S-am 1.
Adds reference to:
30 ILCS 330/3
30 ILCS 330/5
30 ILCS 330/7
30 ILCS 330/12
Changes the title and replaces everything after the enacting
clause. Amends P.A. 90-8 to add an immediate effective date. Increases
the State's General Obligation Bond authority by $1,362,200,00, allo-
cating $259,000,000 of that additional authorization for acquisition,
and improvement or construction of capital facilities within the State
including for educational purposes at public post-secondary institu-
tions, prisons and correctional centers' recreational and conservation
purposes, child care and mental and public health facilities, disabled
veterans and spouses facilities, and use by the State and its several
departments, agencies and subdivisions. Allocates an additional
$3,200,000 of that authority for use by DCCA for coal and energy re-
search, development and energy demonstration purposes. Authorizes the
Illinois EPA to make deposits into the U.S. Environmental Protection
Fund and the Water Revolving Fund (instead of the Water Pollution Con-
trol Revolving Fund) from its existing allocation of General Obliga-
tion Bond moneys. Allocates the remaining $1,100,000,000 of the addi-
tional bonding authority for grants to school districts for school im-
provement projects authorized by the School Construction Law, estab-
lishes a 5-year schedule for the sale of the bonds, and provides for
the deposit of the proceeds from the sale of those bonds into the
School Infrastructure Fund. Effective immediately.
Last action on Bill: PUBLIC ACT.............................. 90-0549
Last action date: 97-12-08
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 1
END OF INQUIRY
Full Text Bill Status