Bill Title: Amends the Illinois Finance Authority Act. Replaces the existing governing board of the Authority with 4 new governing boards, appointed by the Governor with the advice and consent of the Senate. Gives each new governing board jurisdiction over certain specified programs of the Authority. Provides that certain actions affecting more than one governing board must be taken by the affected boards acting jointly. Replaces the Executive Director of the Authority with 4 new executive directors, one appointed by each of the governing boards. Contains provisions relating to officers, employees, finance, and the issuance of bonds. Provides that the change in governing boards does not affect any existing obligation of the Authority, or any existing bond or other instrument of indebtedness of the Authority or any of its Predecessor Authorities, or the rights of any bondholder. Includes other conforming and savings provisions. Effective January 1, 2010.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2009-04-03 - Rule 3-9(a) / Re-referred to Assignments [SB1983 Detail]

Text: Latest bill text (Introduced) [HTML]

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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Senator Dan Cronin [R]	Sponsor	Sponsored Bills	SD-021	FollowTheMoney	Ballotpedia	VoteSmart

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