Bill Title: Creates the Coronavirus Urgent Remediation Emergency (CURE) Borrowing Act. Provides that the Governor, with the approval of the Comptroller and Treasurer, is authorized to borrow funds from the Federal Reserve Bank or its agent in accordance with the Municipal Liquidity Facility program established under the federal Coronavirus Aid, Relief, and Economic Stabilization Act (CARES) Act and the Federal Reserve Act, or in accordance with federal coronavirus financing legislation. Sets forth the purposes for which such funds can be used. Provides for the terms for borrowing, provides that the total amount borrowed may not exceed $5,000,000,000 outstanding at any time, and provides for the repayment of funds borrowed. Provides a continuing appropriation for the repayment of funds borrowed. Amends the State Finance Act. Creates the Coronavirus Urgent Remediation Emergency Borrowing Fund and makes conforming changes. Amends the Short Term Borrowing Act to make conforming changes. Effective immediately.

Spectrum: Partisan Bill (Democrat 4-0)

Status: (Passed) 2020-05-29 - Public Act . . . . . . . . . 101-0630 [SB2099 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Chaptered	2020-05-29	HTML/Text	Link	View
Enrolled	2020-05-23	HTML/Text	Link	View
Engrossed	2019-03-27	HTML/Text	Link	View
Introduced	2019-02-15	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
House Amendment 003	2020-05-22	Proposed	HTML/Text	Link	View
House Amendment 002	2020-05-21	Proposed	HTML/Text	Link	View
House Amendment 001	2020-05-20	Proposed	HTML/Text	Link	View

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois SB2099 currently on file.

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