IL HB2823 | 2019-2020 | 101st General Assembly

Status

Spectrum: Slight Partisan Bill (Democrat 2-1)
Status: Enrolled on May 30 2019 - 75% progression
Action: 2019-05-30 - Passed Both Houses
Text: Latest bill text (Enrolled) [HTML]

Summary

Amends the Metropolitan Transit Authority Act and Regional Transportation Authority Act. Establishes procedures for repayment of defaulted interim financing notes issued by the Chicago Transit Authority and defaulted working cash notes issued by the Regional Transportation Authority, in which State money in the State treasury was invested. Provides that the Regional Transportation Authority may issue, sell, and deliver additional working cash notes and establish lines of credit (rather than only working cash notes) before July 1, 2022 (rather than July 1, 2018) that are over and above and in addition to the $100,000,000 bond or note authorization. Establishes procedures for establishment of lines of credit. Requires notice to the Governor's Office of Management and Budget and State Comptroller before establishing a line of credit and provides that money borrowed under a line of credit are general obligations of the Authority that are secured by the full faith and credit of the Authority. Effective immediately.

Tracking Information

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Title

RTA&CTA-NOTES & LINE OF CREDIT

Sponsors


Roll Calls

2019-05-30 - Senate - Third Reading in Senate (Y: 46 N: 8 NV: 5 Abs: 0) [PASS]
2019-04-09 - House - Motion in House (Y: 62 N: 49 NV: 1 Abs: 1) [PASS]

History

DateChamberAction
2019-05-30HousePassed Both Houses
2019-05-30SenateThird Reading - Passed; 046-008-000
2019-05-24SenateRule 2-10 Third Reading Deadline Established As May 31, 2019
2019-05-21SenatePlaced on Calendar Order of 3rd Reading May 22, 2019
2019-05-21SenateSecond Reading
2019-05-14SenateAdded as Alternate Chief Co-Sponsor Sen. Donald P. DeWitte
2019-05-02SenatePlaced on Calendar Order of 2nd Reading May 7, 2019
2019-05-02SenateDo Pass Transportation; 013-000-000
2019-04-24SenateAssigned to Transportation
2019-04-10SenateReferred to Assignments
2019-04-10SenateFirst Reading
2019-04-10SenateChief Senate Sponsor Sen. Martin A. Sandoval
2019-04-10SenatePlaced on Calendar Order of First Reading
2019-04-10SenateArrive in Senate
2019-04-09HouseThird Reading - Short Debate - Passed 062-049-001
2019-04-09HousePlaced on Calendar Order of 3rd Reading - Short Debate
2019-04-04HousePlaced on Calendar - Consideration Postponed
2019-04-04HouseThird Reading - Consideration Postponed
2019-03-26HousePlaced on Calendar Order of 3rd Reading - Short Debate
2019-03-26HouseSecond Reading - Short Debate
2019-03-21HousePlaced on Calendar 2nd Reading - Short Debate
2019-03-21HouseHouse Committee Amendment No. 1 Tabled Pursuant to Rule 40
2019-03-21HouseDo Pass / Short Debate Revenue & Finance Committee; 009-005-000
2019-03-21HouseReported Back To Revenue & Finance Committee;
2019-03-21HouseRecommends Do Pass Subcommittee/ Revenue & Finance Committee; 006-000-000
2019-03-19HouseHouse Committee Amendment No. 1 Referred to Rules Committee
2019-03-19HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Michael J. Zalewski
2019-03-06HouseTo Sales, Amusement & Other Taxes Subcommittee
2019-02-26HouseAssigned to Revenue & Finance Committee
2019-02-14HouseReferred to Rules Committee
2019-02-14HouseFirst Reading
2019-02-14HouseFiled with the Clerk by Rep. Michael J. Zalewski

Code Citations

ChapterArticleSectionCitation TypeStatute Text
70360512aAmended CodeCitation Text
7036154.04Amended CodeCitation Text

Illinois State Sources


Bill Comments

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