IL HB0883 | 2019-2020 | 101st General Assembly
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 24 2019 - 25% progression, died in committee
Action: 2019-03-29 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on January 24 2019 - 25% progression, died in committee
Action: 2019-03-29 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the State Finance Act, General Obligation Bond Act, Bond Authorization Act, and the Local Government Credit Enhancement Act. Remove provisions concerning interest payable on variable rate bonds. Removes provisions allowing certain governmental units to enter into agreements to engage in "swap" agreements with respect to all or part of any currently outstanding or proposed bonds. Removes provisions authorizing variable interest rates and certain credit or liquidity enhancement arrangements, including interest rate protection or exchange agreements and guarantees with respect to the issuance of general obligation bonds. Removes provisions concerning the net payments required of the State for such arrangements certified by the Director of the Bureau of the Budget and treated as interest. Makes related changes. Reinstates definitions. Effective immediately.
Title
FINANCE ACT-BONDS AND DEBT
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2019-03-29 | House | Rule 19(a) / Re-referred to Rules Committee |
| 2019-02-14 | House | To Sales, Amusement & Other Taxes Subcommittee |
| 2019-02-05 | House | Assigned to Revenue & Finance Committee |
| 2019-01-28 | House | Referred to Rules Committee |
| 2019-01-28 | House | First Reading |
| 2019-01-24 | House | Filed with the Clerk by Rep. Joe Sosnowski |
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 30 | 105 | 6z-45 | Amended Code | Citation Text |
| 30 | 305 | 7 | Amended Code | Citation Text |
| 30 | 330 | 14 | Amended Code | Citation Text |
| 30 | 330 | 15 | Amended Code | Citation Text |
| 30 | 330 | 9 | Amended Code | Citation Text |
| 50 | 410 | 2 | Amended Code | Citation Text |
| 50 | 410 | 3 | Amended Code | Citation Text |
Illinois State Sources
| Type | Source |
|---|---|
| Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=883&GAID=15&DocTypeID=HB&SessionID=108&GA=101 |
| Text | https://www.ilga.gov/legislation/101/HB/10100HB0883.htm |
