Bill Text: IL HB0142 | 2019-2020 | 101st General Assembly | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Creates the Rebuild Illinois Capital Financing Program of 2019. Amends the General Obligation Bond Act. Increases the amount of bonded indebtedness authorized to $78,256,839,969 from $57,717,925,743, and specifies the uses for which the additional moneys may be used. Expands the Funds used to determine the debt limit to include the Fund for the Advancement of Education, the Commitment to Human Services Fund, and the Budget Stabilization Fund (currently, the General Revenue Fund, the Common School Fund, the General Revenue Common School Special Account Fund, and the Education Assistance Fund). Creates the Mass Transportation Bond Fund. Amends the Build Illinois Bond Act. Increases the amount of bonded indebtedness authorized to $9,484,681,100 from $6,246,009,000, and specifies the uses for which the additional moneys may be used. Amends the State Finance Act and the Regional Transportation Authority Act. Makes conforming changes. Effective immediately.

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Passed) 2019-06-28 - Public Act . . . . . . . . . 101-0030 [HB0142 Detail]

Download: Illinois-2019-HB0142-Introduced.html

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101ST GENERAL ASSEMBLY State of Illinois 2019 and 2020 HB0142 Introduced , by Rep. Michael J. Madigan SYNOPSIS AS INTRODUCED:
30 ILCS 305/0.01 from Ch. 17, par. 6600
Amends the Bond Authorization Act. Makes a technical change in a Section concerning the short title.
LRB101 02983 RJF 47991 b
A BILL FOR
HB0142 LRB101 02983 RJF 47991 b
AN ACT concerning finance.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Bond Authorization Act is amended by
changing Section 0.01 as follows:
(30 ILCS 305/0.01) (from Ch. 17, par. 6600)
Sec. 0.01. Short title. This Act may be cited as the the
Bond Authorization Act.
(Source: P.A. 86-4.)