Illinois House Bill 5616 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Democrat 3-0)
Status: Passed on July 13 2012 - 100% progression
Action: 2012-07-13 - Public Act . . . . . . . . . 97-0790
Text: Latest bill text (Chaptered) [HTML]

Amends the Will-Kankakee Regional Development Authority Law. Provides that the Will-Kankakee Regional Development Authority may issue bonds, notes, or other evidences of indebtedness in an aggregate amount outstanding not to exceed $250,000,000 (now, $100,000,000). Provides that certain provisions concerning the State's moral obligation for the bonds of the Authority shall not apply to bonds issued by the Authority on or after the effective date of the amendatory Act. Provides that the notes and bonds issued by the Authority and the income from these notes and bonds may be free from all taxation by the State or its political subdivisions, except for estate, transfer, and inheritance taxes. Provides that the exemption from taxation shall apply to the income on any notes or bonds of the Authority only if the Authority in its sole judgment determines that the exemption enhances the marketability of the bonds or notes or reduces the interest rates that would otherwise be borne by the bonds or notes. Effective immediately.

WILL-KANKAKEE DEV AUTH

Rep. Frank Mautino [D]

Rep. Lisa Dugan [D]

Sen. Toi Hutchinson [D]

2012-05-22 - Senate - Third Reading in Senate (Y: 54 N: 0 NV: 5 Abs: 0) [PASS]
2012-03-29 - House - Third Reading in House (Y: 62 N: 47 NV: 0 Abs: 2) [PASS]

Date	Chamber	Action
2012-07-13	House	Public Act . . . . . . . . . 97-0790
2012-07-13	House	Effective Date July 13, 2012
2012-07-13	House	Governor Approved
2012-06-20	House	Sent to the Governor
2012-05-22	House	Passed Both Houses
2012-05-22	Senate	Third Reading - Passed; 054-000-000
2012-05-02	Senate	Placed on Calendar Order of 3rd Reading May 3, 2012
2012-05-02	Senate	Second Reading
2012-04-26	Senate	Placed on Calendar Order of 2nd Reading May 1, 2012
2012-04-26	Senate	Do Pass Revenue; 007-001-000
2012-04-18	Senate	Postponed - Revenue
2012-04-18	Senate	Alternate Chief Sponsor Changed to Sen. Toi W. Hutchinson
2012-04-16	Senate	Sponsor Removed Sen. Toi W. Hutchinson
2012-04-16	Senate	Added as Alternate Chief Co-Sponsor Sen. Toi W. Hutchinson
2012-04-11	Senate	Assigned to Revenue
2012-04-11	Senate	Referred to Assignments
2012-04-11	Senate	First Reading
2012-03-30	Senate	Chief Senate Sponsor Sen. William R. Haine
2012-03-30	Senate	Placed on Calendar Order of First Reading
2012-03-30	Senate	Arrive in Senate
2012-03-29	House	Third Reading - Short Debate - Passed 062-047-000
2012-03-29	House	Placed on Calendar Order of 3rd Reading - Short Debate
2012-03-29	House	Added Chief Co-Sponsor Rep. Lisa M. Dugan
2012-03-27	House	Held on Calendar Order of Second Reading - Short Debate
2012-03-27	House	Second Reading - Short Debate
2012-03-09	House	Placed on Calendar 2nd Reading - Short Debate
2012-03-08	House	Do Pass / Short Debate Revenue & Finance Committee; 009-000-000
2012-03-08	House	Remains in Revenue & Finance Committee
2012-03-08	House	Recommends Do Pass Subcommittee/ Revenue & Finance Committee; 003-000-000
2012-03-06	House	State Debt Impact Note Filed
2012-02-21	House	Assigned to Revenue & Finance Committee
2012-02-15	House	Referred to Rules Committee
2012-02-15	House	First Reading
2012-02-15	House	Filed with the Clerk by Rep. Frank J. Mautino

Chapter	Article	Section	Citation Type	Statute Text
70	535	14	New Code	See Bill Text
70	535	7	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=5616&GAID=11&DocTypeID=HB&SessionID=84&GA=97
Text	https://www.ilga.gov/legislation/97/HB/09700HB5616.htm
Text	https://www.ilga.gov/legislation/97/HB/09700HB5616eng.htm
Text	https://www.ilga.gov/legislation/97/HB/09700HB5616enr.htm
Text	https://www.ilga.gov/legislation/publicacts/97/097-0790.htm
Roll Call	https://www.ilga.gov/legislation/votehistory/97/house/09700HB5616_03292012_020000T.pdf
Roll Call	https://www.ilga.gov/legislation/votehistory/97/senate/09700HB5616_05222012_049000T.pdf