House Sponsors: MORROW-HANNIG-SCHOENBERG-DAVIS,MONIQUE, FRITCHEY, FRANKS, SCOTT, FLOWERS, GILES AND HOFFMAN. Senate Sponsors: WEAVER Short description: GO BONDS-SCHOOL CONSTRUCT PRG Synopsis of Bill as introduced: Amends the General Obligation Bond Act. Includes the 2001 Illinois School Construction and Infrastructure Assistance Program in the Section concerning bond authorization for school construction. STATE DEBT NOTE (Economic and Fiscal Commission) HB 3521 would not change the amount of authorization for any type of State-issued or State-support bond and, therefore, would not affect the level of State indebtedness. HOUSE AMENDMENT NO. 1. Adds reference to: 30 ILCS 330/2 from Ch. 127, par. 652 Deletes everything. Amends the General Obligation Bond Act. Increases by $500,000,000 the amount of bonds that may be issued to make grants for school improvement projects under the School Construction Law. Effective July 1, 2001. STATE DEBT NOTE, H-AM 1 (Economic and Fiscal Commission) HB 3521 (H-am 1) would increase: General Obligation principal by $500.0 million Potential General Obligation debt by $908.1 million Annual debt service by $ 36.8 million BALANCED BUDGET NOTE, H-AM 1 (Bureau of the Budget) Since HB 3521 is not a supplemental appropriation bill, the Balanced Budget Note Act is inapplicable. FISCAL NOTE, H-AM 1 (Bureau of the Budget) Assuming all of the authorized bonds are issued under pre- vailing interest rates, the impact would be approximately $40,000,000 to $50,000,000 GRF for each of the next 20 years. STATE DEBT NOTE, ENGROSSED (Economic and Fiscal Commission) Same as previous State Debt Note. Last action on Bill: SESSION SINE DIE Last action date: JAN-07-2003 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 0 END OF INQUIRY Full Text Bill Status