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[ House Amendment 002 ] |
92_SB2216eng SB2216 Engrossed LRB9213825BDpr 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 Illinois Development Finance Authority 5 Act is amended by changing Sections 7.56a and 8 as follows: 6 (20 ILCS 3505/7.56a) (from Ch. 48, par. 850.07z12a) 7 Sec. 7.56a. Infrastructure Bond Authorization Limits. 8 In addition to the bonds authorized to be issued under 9 Sections 7.8 and 8, the Authority may have outstanding at any 10 time, bonds for the purposes enumerated in Sections 7.50 11 through 7.61 in an aggregate principal amount that shall not 12 exceed $2,000,000,001$2,000,000,000. 13 Such bonds shall not constitute an indebtedness or 14 obligation of the State of Illinois and it shall be plainly 15 stated on the face of each bond that it does not constitute 16 such an indebtedness or obligation but is payable solely from 17 the revenues, income or other assets of the Authority pledged 18 therefor. 19 (Source: P.A. 90-470, eff. 8-17-97; 91-681, eff. 1-26-00.) 20 (20 ILCS 3505/8) (from Ch. 48, par. 850.08) 21 Sec. 8. Outstanding bond authorization limits. Exclusive 22 of the bonds authorized to be issued under Section 7.8, 23 Section 7.87, or under the Illinois Environmental Facilities 24 Financing Act, and exclusive of the authorization under 25 Section 7.56a of this Act, the Authority may not have 26 outstanding at any one time bonds for any of its corporate 27 purposes in an aggregate principal amount exceeding 28 $5,400,000,001$5,400,000,000, excluding bonds issued to 29 refund outstanding bonds. Up to $100,000,000 of such 30 outstanding bonds shall be issued with respect to industrial SB2216 Engrossed -2- LRB9213825BDpr 1 projects located within areas designated as Enterprise Zones 2 by the Department of Commerce and Community Affairs. 3 (Source: P.A. 90-470, eff. 8-17-97; 91-681, eff. 1-26-00.) 4 Section 99. Effective date. This Act takes effect on 5 July 1, 2002.