IL SB2198 | 2017-2018 | 100th General Assembly

Status

Spectrum: Partisan Bill (Republican 3-0)
Status: Introduced on April 27 2017 - 25% progression
Action: 2017-05-12 - Rule 3-9(a) / Re-referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the General Obligation Bond Act. Allows for the use of existing bonding authority authorized under Public Act 96-1497 to re-issue and sell bonds of up to $2,200,000,000 and then deposit the proceeds of the sale into the General Obligation Bond Retirement and Interest Fund for the sole purpose of retiring bonds authorized by Public Act 96-1497. Provides that the bonds authorized by the amendatory Act shall be payable within 10 years. Exempts the bonds issued under the amendatory Act from requirements concerning total bond payments compared to aggregate appropriations from the general funds and Road Fund, and from requirements concerning methods of sale.

Tracking Information

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Title

BONDS-PENSION BOND RETIREMENT

Sponsors


History

DateChamberAction
2017-05-12SenateRule 3-9(a) / Re-referred to Assignments
2017-05-12SenatePostponed - Executive
2017-05-05SenateAdded as Chief Co-Sponsor Sen. Kyle McCarter
2017-05-03SenateAdded as Chief Co-Sponsor Sen. Dan McConchie
2017-05-02SenateAssigned to Executive
2017-05-02SenateRule 2-10 Committee Deadline Established As May 12, 2017
2017-04-27SenateReferred to Assignments
2017-04-27SenateFirst Reading
2017-04-27SenateFiled with Secretary by Sen. Jim Oberweis

Code Citations

ChapterArticleSectionCitation TypeStatute Text
3033011Amended CodeCitation Text
303302.5Amended CodeCitation Text
303307.2Amended CodeCitation Text
303307.6New CodeSee Bill Text
303309Amended CodeCitation Text

Illinois State Sources


Bill Comments

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