IL HB5976 | 2017-2018 | 100th General Assembly

Status

Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on October 18 2018 - 25% progression
Action: 2018-11-07 - Referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the Local Government Debt Reform Act. Provides that no alternate bonds shall be issued if the issuance of such bonds would create or continue the accumulation of stacked alternate-bonded debt. Provides that provisions concerning stacked alternate-bonded debt do not apply to any transactions or agreements concerning debt that may be in place before the effective date of this amendatory Act. Defines "stacked alternate-bonded debt". Effective immediately.

Tracking Information

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Title

FINANCE-STACKED ALT BOND DEBT

Sponsors


History

DateChamberAction
2018-11-07HouseReferred to Rules Committee
2018-11-07HouseFirst Reading
2018-10-18HouseFiled with the Clerk by Rep. David McSweeney

Code Citations

ChapterArticleSectionCitation TypeStatute Text
3035015Amended CodeCitation Text
303503Amended CodeCitation Text

Illinois State Sources


Bill Comments

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