Illinois Senate Bill 2218 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Failed on January 9 2019 - 100% progression
Action: 2019-01-09 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

Creates the Individual Income Tax Bond Act. Authorizes the State to issue, sell, and provide for the retirement of limited obligation bonds in the total principal amount of $6,000,000,000. Provides that the proceeds of those bonds shall be issued for the purposes of providing financial relief to vendors who do business with the State. Amends the State Finance Act to create the Individual Income Tax Bond Proceeds Fund and the Individual Income Tax Bond Retirement and Interest Fund. Amends the Illinois Income Tax Act to provide for the transfer of certain income tax proceeds into the Individual Income Tax Bond Proceeds Fund. Effective immediately.

INC TX-BONDS

Sen. Bill Brady [R]

Date	Chamber	Action
2019-01-09	Senate	Session Sine Die
2017-06-15	Senate	Referred to Assignments
2017-06-15	Senate	First Reading
2017-06-15	Senate	Filed with Secretary by Sen. William E. Brady

Chapter	Article	Section	Citation Type	Statute Text
30	105	5.878	New Code	See Bill Text
30	105	5.879	New Code	See Bill Text
30	105	6z-102	New Code	See Bill Text
35	5	901	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2218&GAID=14&DocTypeID=SB&SessionID=91&GA=100
Text	https://www.ilga.gov/legislation/100/SB/10000SB2218.htm