NOVAK-SAVIANO-SCHOENBERG-ERWIN-BRUNSVOLD, KENNER AND PERSICO.
METRO PIER & EXPO AUTHORITY
Synopsis of Bill as introduced:
Amends the Metropolitan Pier and Exposition Authority Act. Makes
technical changes in a Section concerning the short title.
SENATE AMENDMENT NO. 1.
Adds an immediate effective date.
SENATE AMENDMENT NO. 2.
Deletes reference to:
70 ILCS 210/1
Adds reference to:
30 ILCS 105/5.545 new
30 ILCS 105/6z-51 new
30 ILCS 105/8.25f from Ch. 127, par. 144.25f
35 ILCS 105/9 from Ch. 120, par. 439.9
35 ILCS 110/9 from Ch. 120, par. 439.39
35 ILCS 115/9 from Ch. 120, par. 439.109
35 ILCS 120/3 from Ch. 120, par. 442
35 ILCS 130/29 from Ch. 120, par. 453.29
70 ILCS 210/5 from Ch. 85, par. 1225
70 ILCS 210/10 from Ch. 85, par. 1230
70 ILCS 210/13.2 from Ch. 85, par. 1233.2
70 ILCS 210/23.1 from Ch. 85, par. 1243.1
Deletes everything. Amends the State Finance Act, the Use Tax
Act, the Service Use Tax Act, the Service Occupation Tax Act, and the
Retailers' Occupation Tax Act. Increases the maximum amounts of
occupation and use taxes that may be deposited into the McCormick
Place Expansion Fund in fiscal years 2001 until 2013. Provides for
the deposit of additional amounts into the McCormick Place Expansion
Fund in fiscal years 2014 to 2042 (now, additional amounts may be
deposited until fiscal year 2029). Amends the Metropolitan Pier and
Exposition Authority Act. Provides that the maximum price of certain
Expansion Project contracts may not be in excess of funds that are
authorized to be made available for those purposes (now, the contract
price may not be in excess of funds that are authorized to be made
available for those purposes pursuant to an amendatory Act of 1991).
Provides that the legislative members of the McCormick Place Advisory
Board shall be appointed as follows: 2 State Senators appointed by the
President of the Senate; 2 State Senators appointed by the Minority
Leader of the Senate; 2 State Representatives appointed by the Speaker
of the House; and 2 State Representatives appointed by the Minority
Leader of the House (now, 7 State Senators are appointed by the
President of the Senate and 7 State Representatives are appointed by
the Speaker of the House). Provides that the Mayor of Chicago and the
Governor each appoint 2 members. Eliminates the members appointed by
the Authority. Provides that bonds issued by the Metropolitan Pier and
Exposition Authority may mature at a time not exceeding 40 years (now,
35 years) after their issuance. Provides that the aggregate principal
amount of bonds issued by the Authority may not exceed $2,107,000,000
(now, $1,307,000,000). Amends the Cigarette Tax Act. Provides that in
fiscal year 2002 and each fiscal year thereafter the first $4,800,000
from the tax must be deposited into the Statewide Economic Development
Fund (now, the first $4,800,000 from the tax must be deposited in the
Metropolitan Fair and Exposition Authority Reconstruction Fund).
Amends the State Finance Act to create the Statewide Economic
Development Fund and to provide for the expenditure of moneys in the
fund, subject to appropriation, for statewide economic development
activities. Provides that provisions of the bill are inseverable.
Last action on Bill: PUBLIC ACT.............................. 92-0208
Last action date: AUG-02-2001
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 2
END OF INQUIRY
Full Text Bill Status