Bill Sponsors: IL HB0983 | 2013-2014 | 98th General Assembly
Bill Title: Amends the Local Government Debt Reform Act. Provides that determinations of sufficiency of enterprise revenues or revenue sources shall be conducted by the chief procurement officer for procurements of construction and construction-related services under the jurisdiction of the Capital Development Board. Provides that enterprise revenues shall be sufficient to pay 150% (instead of 100%) of the debt service on all outstanding revenue bonds payable from those enterprise revenues. Provides that a petition to initiate a backdoor referendum concerning the issuance of alternate bonds may be filed within 90 (instead of 30) days of publication of the authorizing ordinance and notice. Provides that it must be signed by 5% of the registered voters in the governmental unit or 500 of those registered voters, whichever is less. Provides that, if alternate bonds are payable from a combination of enterprise revenues and property taxes, and if, in any fiscal year of the governmental unit, the total amount of enterprise revenues collected exceeds the debt service payable on those bonds, then, within 90 days after the last day of the fiscal year, the surplus revenues shall be refunded to property owners within the governmental unit according to each property owner's pro rata share of property taxes paid in that fiscal year. Effective immediately.
Spectrum: Moderate Partisan Bill (Republican 7-1)
Status: (Passed) 2013-08-09 - Public Act . . . . . . . . . 98-0203 [HB0983 Detail]
Text: Latest bill text (Chaptered) [HTML]
Spectrum: Moderate Partisan Bill (Republican 7-1)
Status: (Passed) 2013-08-09 - Public Act . . . . . . . . . 98-0203 [HB0983 Detail]
Text: Latest bill text (Chaptered) [HTML]
Sponsors
Name | Type | Sponsorship | District | Financial | Encyclopedia | Biography |
---|---|---|---|---|---|---|
Representative David McSweeney [R] | Primary | Sponsored Bills | HD-052 | FollowTheMoney | Ballotpedia | VoteSmart |
Representative Jack Franks [D] | Cosponsor | Sponsored Bills | HD-063 | FollowTheMoney | Ballotpedia | VoteSmart |
Representative Dwight Kay [R] | Cosponsor | Sponsored Bills | HD-112 | FollowTheMoney | Ballotpedia | VoteSmart |
Representative Sandra Pihos [R] | Cosponsor | Sponsored Bills | HD-048 | FollowTheMoney | Ballotpedia | VoteSmart |
Senator Pamela Althoff [R] | Primary | Sponsored Bills | SD-032 | FollowTheMoney | Ballotpedia | VoteSmart |
Senator Dan Duffy [R] | Cosponsor | Sponsored Bills | SD-026 | FollowTheMoney | Ballotpedia | VoteSmart |
Senator Michael Connelly [R] | Cosponsor | Sponsored Bills | SD-021 | FollowTheMoney | Ballotpedia | VoteSmart |
Senator Chapin Rose [R] | Cosponsor | Sponsored Bills | SD-051 | FollowTheMoney | Ballotpedia | VoteSmart |