IL HB4225 | 2017-2018 | 100th General Assembly

Status

Spectrum: Bipartisan Bill
Status: Introduced on January 9 2018 - 25% progression
Action: 2018-03-07 - Added Co-Sponsor Rep. David S. Olsen
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the Illinois Municipal Code. Provides that home rule municipalities with a population over 1,000,000 may only authorize the conveyance of all or any portion of sales tax revenues to (i) corporations, trusts, or other entities that have been established for the limited purpose of issuing obligations for the benefit of a home rule municipality, or (ii) a bank or trust company in its capacity as trustee for obligations issued by the bank or trust company for the benefit of a home rule municipality. Effective immediately.

Tracking Information

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Title

MUNI CD-ASSIGNMENT OF RECEIPTS

Sponsors


History

DateChamberAction
2018-03-07HouseAdded Co-Sponsor Rep. David S. Olsen
2018-01-16HouseReferred to Rules Committee
2018-01-16HouseFirst Reading
2018-01-09HouseFiled with the Clerk by Rep. Robert Martwick

Code Citations

ChapterArticleSectionCitation TypeStatute Text
6558-13-10Amended CodeCitation Text
6558-13-5Amended CodeCitation Text

Illinois State Sources


Bill Comments

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