Bill Text: IL SB0485 | 2019-2020 | 101st General Assembly | Introduced
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Amends the Metropolitan Pier and Exposition Authority Act. Changes the name of the Act and Authority to the Metropolitan Public Exposition Authority Act and the Metropolitan Public Exposition Authority. Provides that the Authority may enter into installment payments contracts or lease purchase agreements for specified purposes. In provisions regarding the Metropolitan Public Exposition Authority's ability to levy taxes on persons engaged in the business of selling tangible personal property at retail, changes the areas in which the tax may be imposed and prohibits the tax from being imposed on any food, alcoholic beverage, or soft drink sold at a stadium or arena having a seating capacity in excess of 20,000 and used primarily for the purpose of holding sports and amusement events. Increases specified bonding authority of the Authority from $2,850,000,000 to $3,450,000,000. Increases the minimum contract amount requiring a contract to be competitively bid or require a request for proposal. Makes other changes relating to minority-owned, women-owned, and veteran-owned businesses and contractors, contracts for professional services, and contracts entered into pursuant to the Governmental Joint Purchasing Act. Amends various Acts, Laws, and Codes making conforming changes concerning the Act's title and Authority's name. Amends the State Finance Act, Use Tax Act, Service Use Tax Act, Service Occupation Tax Act, and Retailers' Occupation Tax Act. Increases the amounts that may be deposited into the McCormick Place Expansion Project Fund through the year 2036 (currently, through 2032), allowing for increases each fiscal year thereafter that bonds are outstanding, but not after fiscal year 2070 (currently, 2060). Effective immediately.
Spectrum: Partisan Bill (Democrat 3-0)
Status: (Failed) 2021-01-13 - Session Sine Die [SB0485 Detail]
Download: Illinois-2019-SB0485-Introduced.html
Bill Title: Amends the Metropolitan Pier and Exposition Authority Act. Changes the name of the Act and Authority to the Metropolitan Public Exposition Authority Act and the Metropolitan Public Exposition Authority. Provides that the Authority may enter into installment payments contracts or lease purchase agreements for specified purposes. In provisions regarding the Metropolitan Public Exposition Authority's ability to levy taxes on persons engaged in the business of selling tangible personal property at retail, changes the areas in which the tax may be imposed and prohibits the tax from being imposed on any food, alcoholic beverage, or soft drink sold at a stadium or arena having a seating capacity in excess of 20,000 and used primarily for the purpose of holding sports and amusement events. Increases specified bonding authority of the Authority from $2,850,000,000 to $3,450,000,000. Increases the minimum contract amount requiring a contract to be competitively bid or require a request for proposal. Makes other changes relating to minority-owned, women-owned, and veteran-owned businesses and contractors, contracts for professional services, and contracts entered into pursuant to the Governmental Joint Purchasing Act. Amends various Acts, Laws, and Codes making conforming changes concerning the Act's title and Authority's name. Amends the State Finance Act, Use Tax Act, Service Use Tax Act, Service Occupation Tax Act, and Retailers' Occupation Tax Act. Increases the amounts that may be deposited into the McCormick Place Expansion Project Fund through the year 2036 (currently, through 2032), allowing for increases each fiscal year thereafter that bonds are outstanding, but not after fiscal year 2070 (currently, 2060). Effective immediately.
Spectrum: Partisan Bill (Democrat 3-0)
Status: (Failed) 2021-01-13 - Session Sine Die [SB0485 Detail]
Download: Illinois-2019-SB0485-Introduced.html
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| 1 | AN ACT concerning finance.
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| 2 | Be it enacted by the People of the State of Illinois, | |||||||||||||||||||
| 3 | represented in the General Assembly:
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| 4 | Section 5. The State Finance Act is amended by changing | |||||||||||||||||||
| 5 | Section 1.1 as follows:
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| 6 | (30 ILCS 105/1.1) (from Ch. 127, par. 137.1)
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| 7 | Sec. 1.1.
This Act shall be known and
and may be cited as | |||||||||||||||||||
| 8 | the "State Finance
Act". | |||||||||||||||||||
| 9 | (Source: P.A. 86-109.)
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