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| [ Introduced ] | [ Engrossed ] | [ Senate Amendment 001 ] |
92_HB4581enr HB4581 Enrolled LRB9214005REmb 1 AN ACT concerning bonds. 2 Be it enacted by the People of the State of Illinois, 3 represented in the General Assembly: 4 ARTICLE 1 5 Section 5. The General Obligation Bond Act is amended by 6 changing Sections 2, 3, 5 and 6 as follows: 7 (30 ILCS 330/2) (from Ch. 127, par. 652) 8 Sec. 2. Authorization for Bonds. The State of Illinois 9 is authorized to issue, sell and provide for the retirement 10 of General Obligation Bonds of the State of Illinois for the 11 categories and specific purposes expressed in Sections 2 12 through 8 of this Act, in the total amount of $16,908,149,369 13$15,265,007,500. 14 The bonds authorized in this Section 2 and in Section 16 15 of this Act are herein called "Bonds". 16 Of the total amount of Bonds authorized in this Act, up 17 to $2,200,000,000 in aggregate original principal amount may 18 be issued and sold in accordance with the Baccalaureate 19 Savings Act in the form of General Obligation College Savings 20 Bonds. 21 Of the total amount of Bonds authorized in this Act, up 22 to $300,000,000 in aggregate original principal amount may be 23 issued and sold in accordance with the Retirement Savings Act 24 in the form of General Obligation Retirement Savings Bonds. 25 The issuance and sale of Bonds pursuant to the General 26 Obligation Bond Act is an economical and efficient method of 27 financing the capital needs of the State. This Act will 28 permit the issuance of a multi-purpose General Obligation 29 Bond with uniform terms and features. This will not only HB4581 Enrolled -2- LRB9214005REmb 1 lower the cost of registration but also reduce the overall 2 cost of issuing debt by improving the marketability of 3 Illinois General Obligation Bonds. 4 (Source: P.A. 91-39, eff. 6-15-99; 91-53, eff 6-30-99; 5 91-710, eff. 5-17-00; 92-13, eff. 6-22-01.) 6 (30 ILCS 330/3) (from Ch. 127, par. 653) 7 Sec. 3. Capital Facilities. The amount of $7,320,235,369 8$6,626,093,492is authorized to be used for the acquisition, 9 development, construction, reconstruction, improvement, 10 financing, architectural planning and installation of capital 11 facilities within the State, consisting of buildings, 12 structures, durable equipment, land, and interests in land 13 for the following specific purposes: 14 (a) $2,211,228,000$1,880,077,346for educational 15 purposes by State universities and colleges, the Illinois 16 Community College Board created by the Public Community 17 College Act and for grants to public community colleges 18 as authorized by Sections 5-11 and 5-12 of the Public 19 Community College Act; 20 (b) $1,607,420,000$1,584,450,168for correctional 21 purposes at State prison and correctional centers; 22 (c) $531,175,000$496,685,786for open spaces, 23 recreational and conservation purposes and the protection 24 of land; 25 (d) $589,917,000$556,926,486for child care 26 facilities, mental and public health facilities, and 27 facilities for the care of disabled veterans and their 28 spouses; 29 (e) $1,455,990,000$1,290,153,341for use by the 30 State, its departments, authorities, public corporations, 31 commissions and agencies; 32 (f) $818,100 for cargo handling facilities at port 33 districts and for breakwaters, including harbor HB4581 Enrolled -3- LRB9214005REmb 1 entrances, at port districts in conjunction with 2 facilities for small boats and pleasure crafts; 3 (g) $204,657,000$198,657,796for water resource 4 management projects; 5 (h) $16,940,269 for the provision of facilities for 6 food production research and related instructional and 7 public service activities at the State universities and 8 public community colleges; 9 (i) $36,000,000 for grants by the Secretary of 10 State, as State Librarian, for central library facilities 11 authorized by Section 8 of the Illinois Library System 12 Act and for grants by the Capital Development Board to 13 units of local government for public library facilities; 14 (j) $25,000,000 for the acquisition, development, 15 construction, reconstruction, improvement, financing, 16 architectural planning and installation of capital 17 facilities consisting of buildings, structures, durable 18 equipment and land for grants to counties, municipalities 19 or public building commissions with correctional 20 facilities that do not comply with the minimum standards 21 of the Department of Corrections under Section 3-15-2 of 22 the Unified Code of Corrections; 23 (k) $5,000,000 for grants in fiscal year 1988 by 24 the Department of Conservation for improvement or 25 expansion of aquarium facilities located on property 26 owned by a park district; 27 (l) $432,590,000$367,584,200to State agencies for 28 grants to local governments for the acquisition, 29 financing, architectural planning, development, 30 alteration, installation, and construction of capital 31 facilities consisting of buildings, structures, durable 32 equipment, and land; and 33 (m) $203,500,000$167,800,000for the Illinois Open 34 Land Trust Program as defined by the Illinois Open Land HB4581 Enrolled -4- LRB9214005REmb 1 Trust Act. 2 The amounts authorized above for capital facilities may 3 be 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. 91-39, 6-15-99; 91-53, eff. 6-30-99; 91-710, 9 eff. 5-17-00; 92-13, eff. 6-22-01.) 10 (30 ILCS 330/5) (from Ch. 127, par. 655) 11 Sec. 5. School Construction. 12 (a) The amount of $58,450,000 is authorized to make 13 grants to local school districts for the acquisition, 14 development, construction, reconstruction, rehabilitation, 15 improvement, financing, architectural planning and 16 installation of capital facilities, including but not limited 17 to those required for special education building projects 18 provided for in Article 14 of The School Code, consisting of 19 buildings, structures, and durable equipment, and for the 20 acquisition and improvement of real property and interests in 21 real property required, or expected to be required, in 22 connection therewith. 23 (b) $22,550,000, or so much thereof as may be necessary, 24 for grants to school districts for the making of principal 25 and interest payments, required to be made, on bonds issued 26 by such school districts after January 1, 1969, pursuant to 27 any indenture, ordinance, resolution, agreement or contract 28 to provide funds for the acquisition, development, 29 construction, reconstruction, rehabilitation, improvement, 30 architectural planning and installation of capital facilities 31 consisting of buildings, structures, durable equipment and 32 land for educational purposes or for lease payments required 33 to be made by a school district for principal and interest HB4581 Enrolled -5- LRB9214005REmb 1 payments on bonds issued by a Public Building Commission 2 after January 1, 1969. 3 (c) $10,000,000 for grants to school districts for the 4 acquisition, development, construction, reconstruction, 5 rehabilitation, improvement, architectural planning and 6 installation of capital facilities consisting of buildings 7 structures, durable equipment and land for special education 8 building projects. 9 (d) $9,000,000 for grants to school districts for the 10 reconstruction, rehabilitation, improvement, financing and 11 architectural planning of capital facilities, including 12 construction at another location to replace such capital 13 facilities, consisting of those public school buildings and 14 temporary school facilities which, prior to January 1, 1984, 15 were condemned by the regional superintendent under Section 16 3-14.22 of The School Code or by any State official having 17 jurisdiction over building safety. 18 (e) $3,050,000,000$2,120,000,000for grants to school 19 districts for school improvement projects authorized by the 20 School Construction Law. The bonds shall be sold in amounts 21 not to exceed the following schedule, except any bonds not 22 sold during one year shall be added to the bonds to be sold 23 during the remainder of the schedule: 24 First year...................................$200,000,000 25 Second year..................................$450,000,000 26 Third year...................................$500,000,000 27 Fourth year..................................$500,000,000 28 Fifth year.......................$800,000,000300,000,00029 Sixth year and thereafter........$600,000,000170,000,00030 (Source: P.A. 90-549, eff. 12-8-97; 91-39, eff. 6-15-99.) 31 (30 ILCS 330/6) (from Ch. 127, par. 656) 32 Sec. 6. Anti-Pollution. 33 (a) The amount of $300,815,000$281,815,000is HB4581 Enrolled -6- LRB9214005REmb 1 authorized for allocation by the Environmental Protection 2 Agency for grants or loans to units of local government in 3 such amounts, at such times and for such purpose as the 4 Agency deems necessary or desirable for the planning, 5 financing, and construction of municipal sewage treatment 6 works and solid waste disposal facilities and for making of 7 deposits into the Water Revolving Fund and the U.S. 8 Environmental Protection Fund to provide assistance in 9 accordance with the provisions of Title IV-A of the 10 Environmental Protection Act. 11 (b) The amount of $160,500,000 is authorized for 12 allocation by the Environmental Protection Agency for payment 13 of claims submitted to the State and approved for payment 14 under the Leaking Underground Storage Tank Program 15 established in Title XVI of the Environmental Protection Act. 16 (Source: P.A. 91-39, eff. 6-15-99; 91-710, eff. 5-17-00; 17 92-13, eff. 6-22-01.) 18 ARTICLE 2 19 Section 5. The Build Illinois Bond Act is amended by 20 changing Sections 2 and 4 as follows: 21 (30 ILCS 425/2) (from Ch. 127, par. 2802) 22 Sec. 2. Authorization for Bonds. The State of Illinois 23 is authorized to issue, sell and provide for the retirement 24 of limited obligation bonds, notes and other evidences of 25 indebtedness of the State of Illinois in the total principal 26 amount of $3,805,509,000$3,540,715,000herein called 27 "Bonds". Such authorized amount of Bonds shall be reduced 28 from time to time by amounts, if any, which are equal to the 29 moneys received by the Department of Revenue in any fiscal 30 year pursuant to Section 3-1001 of the "Illinois Vehicle 31 Code", as amended, in excess of the Annual Specified Amount HB4581 Enrolled -7- LRB9214005REmb 1 (as defined in Section 3 of the "Retailers' Occupation Tax 2 Act", as amended) and transferred at the end of such fiscal 3 year from the General Revenue Fund to the Build Illinois 4 Purposes Fund as provided in Section 3-1001 of said Code; 5 provided, however, that no such reduction shall affect the 6 validity or enforceability of any Bonds issued prior to such 7 reduction. Such amount of authorized Bonds shall be 8 exclusive of any refunding Bonds issued pursuant to Section 9 15 of this Act and exclusive of any Bonds issued pursuant to 10 this Section which are redeemed, purchased, advance refunded, 11 or defeased in accordance with paragraph (f) of Section 4 of 12 this Act. Bonds shall be issued for the categories and 13 specific purposes expressed in Section 4 of this Act. 14 (Source: P.A. 91-39, eff. 6-15-99; 91-53, eff. 6-30-99; 15 91-709, eff. 5-17-00; 92-9, eff. 6-11-01.) 16 (30 ILCS 425/4) (from Ch. 127, par. 2804) 17 Sec. 4. Purposes of Bonds. Bonds shall be issued for the 18 following purposes and in the approximate amounts as set 19 forth below: 20 (a) $2,417,000,000$2,399,954,000for the expenses of 21 issuance and sale of Bonds, including bond discounts, and for 22 planning, engineering, acquisition, construction, 23 reconstruction, development, improvement and extension of the 24 public infrastructure in the State of Illinois, including: 25 the making of loans or grants to local governments for waste 26 disposal systems, water and sewer line extensions and water 27 distribution and purification facilities, rail or air or 28 water port improvements, gas and electric utility extensions, 29 publicly owned industrial and commercial sites, buildings 30 used for public administration purposes and other public 31 infrastructure capital improvements; the making of loans or 32 grants to units of local government for financing and 33 construction of wastewater facilities; refinancing or HB4581 Enrolled -8- LRB9214005REmb 1 retiring bonds issued between January 1, 1987 and January 1, 2 1990 by home rule municipalities, debt service on which is 3 provided from a tax imposed by home rule municipalities prior 4 to January 1, 1990 on the sale of food and drugs pursuant to 5 Section 8-11-1 of the Home Rule Municipal Retailers' 6 Occupation Tax Act or Section 8-11-5 of the Home Rule 7 Municipal Service Occupation Tax Act; the making of deposits 8 not to exceed $70,000,000 in the aggregate into the Water 9 Pollution Control Revolving Fund to provide assistance in 10 accordance with the provisions of Title IV-A of the 11 Environmental Protection Act; the planning, engineering, 12 acquisition, construction, reconstruction, alteration, 13 expansion, extension and improvement of highways, bridges, 14 structures separating highways and railroads, rest areas, 15 interchanges, access roads to and from any State or local 16 highway and other transportation improvement projects which 17 are related to economic development activities; the making of 18 loans or grants for planning, engineering, rehabilitation, 19 improvement or construction of rail and transit facilities; 20 the planning, engineering, acquisition, construction, 21 reconstruction and improvement of watershed, drainage, flood 22 control, recreation and related improvements and facilities, 23 including expenses related to land and easement acquisition, 24 relocation, control structures, channel work and clearing and 25 appurtenant work; the making of grants for improvement and 26 development of zoos and park district field houses and 27 related structures; and the making of grants for improvement 28 and development of Navy Pier and related structures. 29 (b) $186,000,000$139,301,500for fostering economic 30 development and increased employment and the well being of 31 the citizens of Illinois, including: the making of grants for 32 improvement and development of McCormick Place and related 33 structures; the planning and construction of a 34 microelectronics research center, including the planning, HB4581 Enrolled -9- LRB9214005REmb 1 engineering, construction, improvement, renovation and 2 acquisition of buildings, equipment and related utility 3 support systems; the making of loans to businesses and 4 investments in small businesses; acquiring real properties 5 for industrial or commercial site development; acquiring, 6 rehabilitating and reconveying industrial and commercial 7 properties for the purpose of expanding employment and 8 encouraging private and other public sector investment in the 9 economy of Illinois; the payment of expenses associated with 10 siting the Superconducting Super Collider Particle 11 Accelerator in Illinois and with its acquisition, 12 construction, maintenance, operation, promotion and support; 13 the making of loans for the planning, engineering, 14 acquisition, construction, improvement and conversion of 15 facilities and equipment which will foster the use of 16 Illinois coal; the payment of expenses associated with the 17 promotion, establishment, acquisition and operation of small 18 business incubator facilities and agribusiness research 19 facilities, including the lease, purchase, renovation, 20 planning, engineering, construction and maintenance of 21 buildings, utility support systems and equipment designated 22 for such purposes and the establishment and maintenance of 23 centralized support services within such facilities; and the 24 making of grants or loans to units of local government for 25 Urban Development Action Grant and Housing Partnership 26 programs. 27 (c) $1,052,358,100$851,308,600for the development and 28 improvement of educational, scientific, technical and 29 vocational programs and facilities and the expansion of 30 health and human services for all citizens of Illinois, 31 including: the making of construction and improvement grants 32 and loans to public libraries and library systems; the making 33 of grants and loans for planning, engineering, acquisition 34 and construction of a new State central library in HB4581 Enrolled -10- LRB9214005REmb 1 Springfield; the planning, engineering, acquisition and 2 construction of an animal and dairy sciences facility; the 3 planning, engineering, acquisition and construction of a 4 campus and all related buildings, facilities, equipment and 5 materials for Richland Community College; the acquisition, 6 rehabilitation and installation of equipment and materials 7 for scientific and historical surveys; the making of grants 8 or loans for distribution to eligible vocational education 9 instructional programs for the upgrading of vocational 10 education programs, school shops and laboratories, including 11 the acquisition, rehabilitation and installation of technical 12 equipment and materials; the making of grants or loans for 13 distribution to eligible local educational agencies for the 14 upgrading of math and science instructional programs, 15 including the acquisition of instructional equipment and 16 materials; miscellaneous capital improvements for 17 universities and community colleges including the planning, 18 engineering, construction, reconstruction, remodeling, 19 improvement, repair and installation of capital facilities 20 and costs of planning, supplies, equipment, materials, 21 services, and all other required expenses; the making of 22 grants or loans for repair, renovation and miscellaneous 23 capital improvements for privately operated colleges and 24 universities and community colleges, including the planning, 25 engineering, acquisition, construction, reconstruction, 26 remodeling, improvement, repair and installation of capital 27 facilities and costs of planning, supplies, equipment, 28 materials, services, and all other required expenses; and the 29 making of grants or loans for distribution to local 30 governments for hospital and other health care facilities 31 including the planning, engineering, acquisition, 32 construction, reconstruction, remodeling, improvement, repair 33 and installation of capital facilities and costs of planning, 34 supplies, equipment, materials, services and all other HB4581 Enrolled -11- LRB9214005REmb 1 required expenses. 2 (d) $150,150,900 for protection, preservation, 3 restoration and conservation of environmental and natural 4 resources, including: the making of grants to soil and water 5 conservation districts for the planning and implementation of 6 conservation practices and for funding contracts with the 7 Soil Conservation Service for watershed planning; the making 8 of grants to units of local government for the capital 9 development and improvement of recreation areas, including 10 planning and engineering costs, sewer projects, including 11 planning and engineering costs and water projects, including 12 planning and engineering costs, and for the acquisition of 13 open space lands, including the acquisition of easements and 14 other property interests of less than fee simple ownership; 15 the acquisition and related costs and development and 16 management of natural heritage lands, including natural areas 17 and areas providing habitat for endangered species and 18 nongame wildlife, and buffer area lands; the acquisition and 19 related costs and development and management of habitat 20 lands, including forest, wildlife habitat and wetlands; and 21 the removal and disposition of hazardous substances, 22 including the cost of project management, equipment, 23 laboratory analysis, and contractual services necessary for 24 preventative and corrective actions related to the 25 preservation, restoration and conservation of the 26 environment, including deposits not to exceed $60,000,000 in 27 the aggregate into the Hazardous Waste Fund and the 28 Brownfields Redevelopment Fund for improvements in accordance 29 with the provisions of Titles V and XVII of the Environmental 30 Protection Act. 31 (e) The amount specified in paragraph (a) above shall 32 include an amount necessary to pay reasonable expenses of 33 each issuance and sale of the Bonds, as specified in the 34 related Bond Sale Order (hereinafter defined). HB4581 Enrolled -12- LRB9214005REmb 1 (f) Any unexpended proceeds from any sale of Bonds which 2 are held in the Build Illinois Bond Fund may be used to 3 redeem, purchase, advance refund, or defease any Bonds 4 outstanding. 5 (Source: P.A. 91-39, eff. 6-15-99; 91-53, eff. 6-30-99; 6 91-709, eff. 5-17-00; 92-9, eff. 6-11-01.) 7 Section 99. Effective date. This Act takes effect upon 8 becoming law.