Roll Call: IL SB2099 | 2019-2020 | 101st General Assembly
For additional roll call votes on Illinois SB2099 please see the Vote List
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]
Text: Latest bill text (Chaptered) [HTML]
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]
Text: Latest bill text (Chaptered) [HTML]
Vote: Third Reading in Senate
| Vote | Tally | Democrat | Republican |
|---|---|---|---|
| Yea | 49 | 31 | 18 |
| Nay | - | - | - |
| Not Voting | 10 | 9 | 1 |
| Absent | - | - | - |
| TOTAL | 59 | 40 | 19 |
