Bill Text: IL SB3255 | 2025-2026 | 104th General Assembly | Enrolled

---

Bill Title: Creates the Bond Authorization Act of 2026. Amends the State Finance Act, the General Obligation Bond Act, and the Build Illinois Bond Act. Makes changes in provisions concerning bond authorizations. Effective immediately.

Sponsorship: Partisan Bill (Democrat 6)

Status: (Passed) 2026-06-16 - Public Act . . . . . . . . . 104-0469 [SB3255 Detail]

Download: Illinois-2025-SB3255-Enrolled.html

---

SB3255 Enrolled LRB104 19081 KTG 32526 b
AN ACT concerning State government.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Article 1.
Section 1-1. This Act may be referred to as the Bond
Authorization Act of 2026.
Article 5.
Section 5-5. The State Finance Act is amended by changing
Section 6z-78 as follows:
(30 ILCS 105/6z-78)
Sec. 6z-78. Capital Projects Fund; bonded indebtedness;
transfers. Money in the Capital Projects Fund shall, if and
when the State of Illinois incurs any bonded indebtedness
using the bond authorizations for capital projects enacted in
Public Act 96-36, Public Act 96-1554, Public Act 97-771,
Public Act 98-94, and Public Act 103-591, and this amendatory
Act of the 104th General Assembly and using the general
obligation bond authorizations for capital projects enacted in
Public Act 101-30, Public Act 103-7, and Public Act 104-8 this
amendatory Act of the 104th General Assembly, be set aside and

SB3255 Enrolled - 2 - LRB104 19081 KTG 32526 b
used for the purpose of paying and discharging annually the
principal and interest on that bonded indebtedness then due
and payable.
In addition to other transfers to the General Obligation
Bond Retirement and Interest Fund made pursuant to Section 15
of the General Obligation Bond Act, upon each delivery of
general obligation bonds for capital projects using bond
authorizations enacted in Public Act 96-36, Public Act
96-1554, Public Act 97-771, Public Act 98-94, Public Act
101-30 (except for amounts in Public Act 101-30 that increase
bond authorization under paragraph (1) of subsection (a) of
Section 4 and subsection (e) of Section 4 of the General
Obligation Bond Act), Public Act 103-7, Public Act 103-591,
Public Act 104-8, and this amendatory Act of the 104th General
Assembly, the State Comptroller shall compute and certify to
the State Treasurer the total amount of principal of, interest
on, and premium, if any, on such bonds during the then current
and each succeeding fiscal year. With respect to the interest
payable on variable rate bonds, such certifications shall be
calculated at the maximum rate of interest that may be payable
during the fiscal year, after taking into account any credits
permitted in the related indenture or other instrument against
the amount of such interest required to be appropriated for
the period.
(a) Except as provided for in subsection (b), on or before
the last day of each month, the State Treasurer and State

SB3255 Enrolled - 3 - LRB104 19081 KTG 32526 b
Comptroller shall transfer from the Capital Projects Fund to
the General Obligation Bond Retirement and Interest Fund an
amount sufficient to pay the aggregate of the principal of,
interest on, and premium, if any, on the bonds payable on their
next payment date, divided by the number of monthly transfers
occurring between the last previous payment date (or the
delivery date if no payment date has yet occurred) and the next
succeeding payment date. Interest payable on variable rate
bonds shall be calculated at the maximum rate of interest that
may be payable for the relevant period, after taking into
account any credits permitted in the related indenture or
other instrument against the amount of such interest required
to be appropriated for that period. Interest for which moneys
have already been deposited into the capitalized interest
account within the General Obligation Bond Retirement and
Interest Fund shall not be included in the calculation of the
amounts to be transferred under this subsection.
(b) On or before the last day of each month, the State
Treasurer and State Comptroller shall transfer from the
Capital Projects Fund to the General Obligation Bond
Retirement and Interest Fund an amount sufficient to pay the
aggregate of the principal of, interest on, and premium, if
any, on the bonds issued prior to January 1, 2012 pursuant to
Section 4(d) of the General Obligation Bond Act payable on
their next payment date, divided by the number of monthly
transfers occurring between the last previous payment date (or

SB3255 Enrolled - 4 - LRB104 19081 KTG 32526 b
the delivery date if no payment date has yet occurred) and the
next succeeding payment date. If the available balance in the
Capital Projects Fund is not sufficient for the transfer
required in this subsection, the State Treasurer and State
Comptroller shall transfer the difference from the Road Fund
to the General Obligation Bond Retirement and Interest Fund;
except that such Road Fund transfers shall constitute a debt
of the Capital Projects Fund which shall be repaid according
to subsection (c). Interest payable on variable rate bonds
shall be calculated at the maximum rate of interest that may be
payable for the relevant period, after taking into account any
credits permitted in the related indenture or other instrument
against the amount of such interest required to be
appropriated for that period. Interest for which moneys have
already been deposited into the capitalized interest account
within the General Obligation Bond Retirement and Interest
Fund shall not be included in the calculation of the amounts to
be transferred under this subsection.
(c) On the first day of any month when the Capital Projects
Fund is carrying a debt to the Road Fund due to the provisions
of subsection (b), the State Treasurer and State Comptroller
shall transfer from the Capital Projects Fund to the Road Fund
an amount sufficient to discharge that debt. These transfers
to the Road Fund shall continue until the Capital Projects
Fund has repaid to the Road Fund all transfers made from the
Road Fund pursuant to subsection (b). Notwithstanding any

SB3255 Enrolled - 5 - LRB104 19081 KTG 32526 b
other law to the contrary, transfers to the Road Fund from the
Capital Projects Fund shall be made prior to any other
expenditures or transfers out of the Capital Projects Fund.
(Source: P.A. 103-7, eff. 7-1-23; 103-591, eff. 7-1-24; 104-8,
eff. 1-1-26.)
Article 10.
Section 10-5. The General Obligation Bond Act is amended
by changing Sections 2, 3, 4, 6, and 7 as follows:
(30 ILCS 330/2) (from Ch. 127, par. 652)
Sec. 2. Authorization for Bonds. The State of Illinois is
authorized to issue, sell and provide for the retirement of
General Obligation Bonds of the State of Illinois for the
categories and specific purposes expressed in Sections 2
through 8 of this Act, in the total amount of $85,137,839,969
$82,664,839,969.
The bonds authorized in this Section 2 and in Section 16 of
this Act are herein called "Bonds".
Of the total amount of Bonds authorized in this Act, up to
$2,200,000,000 in aggregate original principal amount may be
issued and sold in accordance with the Baccalaureate Savings
Act in the form of General Obligation College Savings Bonds.
Of the total amount of Bonds authorized in this Act, up to
$300,000,000 in aggregate original principal amount may be

SB3255 Enrolled - 6 - LRB104 19081 KTG 32526 b
issued and sold in accordance with the Retirement Savings Act
in the form of General Obligation Retirement Savings Bonds.
Of the total amount of Bonds authorized in this Act, the
additional $10,000,000,000 authorized by Public Act 93-2, the
$3,466,000,000 authorized by Public Act 96-43, and the
$4,096,348,300 authorized by Public Act 96-1497 shall be used
solely as provided in Section 7.2.
Of the total amount of Bonds authorized in this Act, the
additional $6,000,000,000 authorized by Public Act 100-23
shall be used solely as provided in Section 7.6 and shall be
issued by December 31, 2017.
Of the total amount of Bonds authorized in this Act,
$2,200,000,000 of the additional amount authorized by Public
Act 100-587, Public Act 102-718, and Public Act 104-8 this
amendatory Act of the 104th General Assembly shall be used
solely as provided in Section 7.7.
The issuance and sale of Bonds pursuant to the General
Obligation Bond Act is an economical and efficient method of
financing the long-term capital needs of the State. This Act
will permit the issuance of a multi-purpose General Obligation
Bond with uniform terms and features. This will not only lower
the cost of registration but also reduce the overall cost of
issuing debt by improving the marketability of Illinois
General Obligation Bonds.
(Source: P.A. 103-7, eff. 7-1-23; 103-591, eff. 7-1-24; 104-8,
eff. 1-1-26.)

SB3255 Enrolled - 7 - LRB104 19081 KTG 32526 b
(30 ILCS 330/3) (from Ch. 127, par. 653)
Sec. 3. Capital facilities. The amount of $23,642,011,269
$21,769,011,269 is authorized to be used for the acquisition,
development, construction, reconstruction, improvement,
demolition, financing, architectural planning and installation
of capital facilities within the State, consisting of
buildings, structures, durable equipment, land, interests in
land, and the costs associated with the purchase and
implementation of information technology, including but not
limited to the purchase of hardware and software, for the
following specific purposes:
(a) $7,408,676,500 $6,908,676,500 for educational
purposes by State universities and public community
colleges, the Illinois Community College Board created by
the Public Community College Act and for grants to public
community colleges as authorized by Sections 5-11 and 5-12
of the Public Community College Act;
(b) $2,590,506,300 for correctional purposes at State
prison and correctional centers;
(c) $751,492,300 for open spaces, recreational and
conservation purposes and the protection of land,
including expenditures and grants for the Illinois
Conservation Reserve Enhancement Program and for ecosystem
restoration and for plugging of abandoned wells;
(d) $1,078,503,900 for State child care facilities,

SB3255 Enrolled - 8 - LRB104 19081 KTG 32526 b
mental and public health facilities, and facilities for
the care of veterans with disabilities and their spouses,
and for grants to public and private community health
centers, hospitals, and other health care providers for
capital facilities;
(e) $10,427,753,300 $9,054,753,300 for use by the
State, its departments, authorities, public corporations,
commissions and agencies, including renewable energy
upgrades at State facilities;
(f) $818,100 for cargo handling facilities at port
districts and for breakwaters, including harbor entrances,
at port districts in conjunction with facilities for small
boats and pleasure crafts;
(g) $425,457,000 for water resource management
projects, including flood mitigation and State dam and
waterway projects;
(h) $16,940,269 for the provision of facilities for
food production research and related instructional and
public service activities at the State universities and
public community colleges;
(i) $75,134,700 for grants by the Secretary of State,
as State Librarian, for central library facilities
authorized by Section 8 of the Illinois Library System Act
and for grants by the Capital Development Board to units
of local government for public library facilities;
(j) $25,000,000 for the acquisition, development,

SB3255 Enrolled - 9 - LRB104 19081 KTG 32526 b
construction, reconstruction, improvement, financing,
architectural planning and installation of capital
facilities consisting of buildings, structures, durable
equipment and land for grants to counties, municipalities
or public building commissions with correctional
facilities that do not comply with the minimum standards
of the Department of Corrections under Section 3-15-2 of
the Unified Code of Corrections;
(k) $5,011,600 for grants by the Department of
Conservation for improvement or expansion of aquarium
facilities located on property owned by a park district;
(l) $599,590,000 to State agencies for grants to local
governments for the acquisition, financing, architectural
planning, development, alteration, installation, and
construction of capital facilities consisting of
buildings, structures, durable equipment, and land; and
(m) $237,127,300 for the Illinois Open Land Trust
Program as defined by the Illinois Open Land Trust Act.
The amounts authorized above for capital facilities may be
used for the acquisition, installation, alteration,
construction, or reconstruction of capital facilities and for
the purchase of equipment for the purpose of major capital
improvements which will reduce energy consumption in State
buildings or facilities.
(Source: P.A. 103-7, eff. 7-1-23; 103-591, eff. 7-1-24; 104-8,
eff. 1-1-26.)

SB3255 Enrolled - 10 - LRB104 19081 KTG 32526 b
(30 ILCS 330/4) (from Ch. 127, par. 654)
Sec. 4. Transportation. The amount of $27,548,062,400
$27,048,062,400 is authorized for use by the Department of
Transportation for the specific purpose of promoting and
assuring rapid, efficient, and safe highway, air and mass
transportation for the inhabitants of the State by providing
monies, including the making of grants and loans, for the
acquisition, construction, reconstruction, extension and
improvement of the following transportation facilities and
equipment, and for the acquisition of real property and
interests in real property required or expected to be required
in connection therewith as follows:
(a) $11,921,354,200 for State highways, arterial highways,
freeways, roads, bridges, structures separating highways and
railroads and roads, bridges on roads maintained by counties,
municipalities, townships, or road districts, and grants to
counties, municipalities, townships, or road districts for
planning, engineering, acquisition, construction,
reconstruction, development, improvement, extension, and all
construction-related expenses of the public infrastructure and
other transportation improvement projects for the following
specific purposes:
(1) $9,819,221,200 for use statewide,
(2) $3,677,000 for use outside the Chicago urbanized
area,

SB3255 Enrolled - 11 - LRB104 19081 KTG 32526 b
(3) $7,543,000 for use within the Chicago urbanized
area,
(4) $13,060,600 for use within the City of Chicago,
(5) $58,991,500 for use within the counties of Cook,
DuPage, Kane, Lake, McHenry and Will,
(6) $18,860,900 for use outside the counties of Cook,
DuPage, Kane, Lake, McHenry and Will, and
(7) $2,000,000,000 for use on projects included in
either (i) the FY09-14 Proposed Highway Improvement
Program as published by the Illinois Department of
Transportation in May 2008 or (ii) the FY10-15 Proposed
Highway Improvement Program to be published by the
Illinois Department of Transportation in the spring of
2009; except that all projects must be maintenance
projects for the existing State system with the goal of
reaching 90% acceptable condition in the system statewide
and further except that all projects must reflect the
generally accepted historical distribution of projects
throughout the State.
(b) $5,966,379,900 for rail facilities and for mass
transit facilities, as defined in Section 2705-305 of the
Department of Transportation Law, including rapid transit,
rail, bus and other equipment used in connection therewith by
the State or any unit of local government, special
transportation district, municipal corporation or other
corporation or public authority authorized to provide and

SB3255 Enrolled - 12 - LRB104 19081 KTG 32526 b
promote public transportation within the State or 2 or more of
the foregoing jointly, for the following specific purposes:
(1) $4,387,063,600 statewide,
(2) $83,350,000 for use within the counties of Cook,
DuPage, Kane, Lake, McHenry and Will,
(3) $12,450,000 for use outside the counties of Cook,
DuPage, Kane, Lake, McHenry and Will, and
(4) $1,000,916,300 for use on projects that shall
reflect the generally accepted historical distribution of
projects throughout the State.
(c) $482,600,000 for airport or aviation facilities and
any equipment used in connection therewith, including
engineering and land acquisition costs, by the State or any
unit of local government, special transportation district,
municipal corporation or other corporation or public authority
authorized to provide public transportation within the State,
or 2 or more of the foregoing acting jointly.
(d) $5,160,328,300 $4,660,328,300 for use statewide for
State or local highways, arterial highways, freeways, roads,
bridges, and structures separating highways and railroads and
roads, and for grants to counties, municipalities, townships,
or road districts for planning, engineering, acquisition,
construction, reconstruction, development, improvement,
extension, and all construction-related expenses of the public
infrastructure and other transportation improvement projects
which are related to economic development in the State of

SB3255 Enrolled - 13 - LRB104 19081 KTG 32526 b
Illinois.
(e) $4,500,000,000 for use statewide for grade crossings,
port facilities, airport facilities, rail facilities, and mass
transit facilities, as defined in Section 2705-305 of the
Department of Transportation Law of the Civil Administrative
Code of Illinois, including rapid transit, rail, bus and other
equipment used in connection therewith by the State or any
unit of local government, special transportation district,
municipal corporation or other corporation or public authority
authorized to provide and promote public transportation within
the State or 2 or more of the foregoing jointly.
(Source: P.A. 104-2, eff. 6-16-25.)
(30 ILCS 330/6) (from Ch. 127, par. 656)
Sec. 6. Anti-Pollution.
(a) The amount of $752,650,642 $611,814,300 is authorized
for allocation by the Environmental Protection Agency for
grants or loans to units of local government, including grants
to disadvantaged communities without modern sewage systems, in
such amounts, at such times and for such purpose as the Agency
deems necessary or desirable for the planning, financing, and
construction of sewage treatment works and solid waste
disposal facilities and for making of deposits into the Water
Revolving Fund (now the Clean Water State Revolving Fund and
the Drinking Water State Revolving Fund) and the U.S.
Environmental Protection Fund to provide assistance in

SB3255 Enrolled - 14 - LRB104 19081 KTG 32526 b
accordance with the provisions of Title IV-A of the
Environmental Protection Act.
(b) The amount of $236,500,000 is authorized for
allocation by the Environmental Protection Agency for payment
of claims submitted to the State and approved for payment
under the Leaking Underground Storage Tank Program established
in Title XVI of the Environmental Protection Act.
(Source: P.A. 103-7, eff. 7-1-23.)
(30 ILCS 330/7) (from Ch. 127, par. 657)
Sec. 7. Coal and Energy Development. The amount of
$171,863,658 $212,700,000 is authorized to be used by the
Department of Commerce and Economic Opportunity (formerly
Department of Commerce and Community Affairs) for coal and
energy development purposes, pursuant to Sections 2, 3 and 3.1
of the Illinois Coal and Energy Development Bond Act, for the
purposes specified in Section 8.1 of the Energy Conservation
and Coal Development Act, for the purposes specified in
Section 605-332 of the Department of Commerce and Economic
Opportunity Law of the Civil Administrative Code of Illinois,
and for the purpose of facility cost reports prepared pursuant
to Sections 1-58 or 1-75(d)(4) of the Illinois Power Agency
Act and for the purpose of development costs pursuant to
Section 8.1 of the Energy Conservation and Coal Development
Act. Of this amount:
(a) $117,663,658 $128,500,000 is for the specific

SB3255 Enrolled - 15 - LRB104 19081 KTG 32526 b
purposes of acquisition, development, construction,
reconstruction, improvement, financing, architectural and
technical planning and installation of capital facilities
consisting of buildings, structures, durable equipment,
and land for the purpose of capital development of coal
resources within the State and for the purposes specified
in Section 8.1 of the Energy Conservation and Coal
Development Act;
(b) $10,000,000 $20,000,000 is for the purposes
specified in Section 8.1 of the Energy Conservation and
Coal Development Act and making grants to generating
stations and coal gasification facilities within the State
of Illinois and to the owner of a generating station
located in Illinois and having at least three coal-fired
generating units with accredited summer capability greater
than 500 megawatts each at such generating station as
provided in Section 6 of that Bond Act;
(c) $13,200,000 is for research, development and
demonstration of forms of energy other than that derived
from coal, either on or off State property;
(d) $0 is for the purpose of providing financial
assistance to new electric generating facilities as
provided in Section 605-332 of the Department of Commerce
and Economic Opportunity Law of the Civil Administrative
Code of Illinois; and
(e) $31,000,000 $51,000,000 is for the purpose of

SB3255 Enrolled - 16 - LRB104 19081 KTG 32526 b
facility cost reports prepared for not more than one
facility pursuant to Section 1-75(d)(4) of the Illinois
Power Agency Act and not more than one facility pursuant
to Section 1-58 of the Illinois Power Agency Act and for
the purpose of up to $6,000,000 of development costs
pursuant to Section 8.1 of the Energy Conservation and
Coal Development Act.
(Source: P.A. 103-7, eff. 7-1-23.)
Article 15.
Section 15-5. The Build Illinois Bond Act is amended by
changing Sections 2, 4, and 13 as follows:
(30 ILCS 425/2) (from Ch. 127, par. 2802)
Sec. 2. Authorization for Bonds. The State of Illinois is
authorized to issue, sell and provide for the retirement of
limited obligation bonds, notes and other evidences of
indebtedness of the State of Illinois in the total principal
amount of $13,464,881,100 $12,098,881,100 herein called
"Bonds". Such amount of authorized Bonds shall be exclusive of
any refunding Bonds issued pursuant to Section 15 of this Act
and exclusive of any Bonds issued pursuant to this Section
which are redeemed, purchased, advance refunded, or defeased
in accordance with paragraph (f) of Section 4 of this Act.
Bonds shall be issued for the categories and specific purposes

SB3255 Enrolled - 17 - LRB104 19081 KTG 32526 b
expressed in Section 4 of this Act.
(Source: P.A. 103-7, eff. 7-1-23; 103-591, eff. 7-1-24; 104-8,
eff. 1-1-26.)
(30 ILCS 425/4) (from Ch. 127, par. 2804)
Sec. 4. Purposes of Bonds. Bonds shall be issued for the
following purposes and in the approximate amounts as set forth
below:
(a) $5,074,094,533 $4,873,094,533 for the expenses of
issuance and sale of Bonds, including bond discounts, and for
planning, engineering, acquisition, construction,
reconstruction, development, improvement, demolition, and
extension of the public infrastructure in the State of
Illinois, including: the making of loans or grants to local
governments for waste disposal systems, water and sewer lines
line extensions and water distribution and purification
facilities, rail or air or water port improvements, gas and
electric utility extensions, publicly owned industrial and
commercial sites, buildings used for public administration
purposes and other public infrastructure capital improvements;
the making of loans or grants to units of local government for
financing and construction of wastewater facilities, including
grants to serve unincorporated areas; refinancing or retiring
bonds issued between January 1, 1987 and January 1, 1990 by
home rule municipalities, debt service on which is provided
from a tax imposed by home rule municipalities prior to

SB3255 Enrolled - 18 - LRB104 19081 KTG 32526 b
January 1, 1990 on the sale of food and drugs pursuant to
Section 8-11-1 of the Home Rule Municipal Retailers'
Occupation Tax Act or Section 8-11-5 of the Home Rule
Municipal Service Occupation Tax Act; the making of deposits
not to exceed $70,000,000 in the aggregate into the Water
Pollution Control Revolving Fund to provide assistance in
accordance with the provisions of Title IV-A of the
Environmental Protection Act; the planning, engineering,
acquisition, construction, reconstruction, alteration,
expansion, extension and improvement of highways, bridges,
structures separating highways and railroads, rest areas,
interchanges, access roads to and from any State or local
highway and other transportation improvement projects which
are related to economic development activities; the making of
loans or grants for planning, engineering, rehabilitation,
improvement or construction of rail and transit facilities;
the planning, engineering, acquisition, construction,
reconstruction and improvement of watershed, drainage, flood
control, recreation and related improvements and facilities,
including expenses related to land and easement acquisition,
relocation, control structures, channel work and clearing and
appurtenant work; the planning, engineering, acquisition,
construction, reconstruction and improvement of State
facilities and related infrastructure; the making of Park and
Recreational Facilities Construction (PARC) grants; the making
of grants to units of local government for community

SB3255 Enrolled - 19 - LRB104 19081 KTG 32526 b
development capital projects; the making of grants for
improvement and development of zoos and park district field
houses and related structures; and the making of grants for
improvement and development of Navy Pier and related
structures; and the making of grants to units of local
government and school districts for permanent improvements, as
defined in Section 21 of the State Finance Act.
(b) $4,796,136,967 $4,101,136,967 for fostering economic
development and increased employment and fostering the well
being of the citizens of Illinois through community
development, including: the making of grants for improvement
and development of McCormick Place and related structures; the
planning and construction of a microelectronics research
center, including the planning, engineering, construction,
improvement, renovation and acquisition of buildings,
equipment and related utility support systems; the making of
loans to businesses and investments in small businesses;
acquiring real properties for industrial or commercial site
development; acquiring, rehabilitating and reconveying
industrial and commercial properties for the purpose of
expanding employment and encouraging private and other public
sector investment in the economy of Illinois; the payment of
expenses associated with siting the Superconducting Super
Collider Particle Accelerator in Illinois and with its
acquisition, construction, maintenance, operation, promotion
and support; the making of loans for the planning,

SB3255 Enrolled - 20 - LRB104 19081 KTG 32526 b
engineering, acquisition, construction, improvement and
conversion of facilities and equipment which will foster the
use of Illinois coal; the payment of expenses associated with
the promotion, establishment, acquisition and operation of
small business incubator facilities and agribusiness research
facilities, including the lease, purchase, renovation,
planning, engineering, construction and maintenance of
buildings, utility support systems and equipment designated
for such purposes and the establishment and maintenance of
centralized support services within such facilities; the
making of grants for transportation electrification
infrastructure projects that promote use of clean and
renewable energy; the making of capital expenditures and
grants for broadband development and for a statewide broadband
deployment grant program; the making of grants to public
entities and private persons and entities for community
development capital projects; the making of grants to public
entities and private persons and entities for capital projects
in the context of grant programs focused on assisting
economically depressed areas, expanding affordable and middle
housing, supporting the provision of human services,
supporting emerging technology enterprises, fostering the
advancement of quantum information science and technology, and
supporting minority owned businesses; and the making of grants
or loans to units of local government for Urban Development
Action Grant and Housing Partnership programs.

SB3255 Enrolled - 21 - LRB104 19081 KTG 32526 b
(c) $3,296,776,600 $2,846,776,600 for the development and
improvement of educational, scientific, technical and
vocational programs and facilities and the expansion of health
and human services for all citizens of Illinois, including:
the making of grants to school districts and not-for-profit
organizations for early childhood construction projects
pursuant to Section 5-300 of the School Construction Law; the
making of grants to educational institutions, for-profit
entities, and not-for-profit entities for educational,
scientific, technical and vocational program equipment and
facilities; the making of grants to museums for equipment and
facilities; the making of construction and improvement grants
and loans to public libraries and library systems; the making
of grants and loans for planning, engineering, acquisition and
construction of a new State central library in Springfield;
the planning, engineering, acquisition and construction of an
animal and dairy sciences facility; the planning, engineering,
acquisition and construction of a campus and all related
buildings, facilities, equipment and materials for Richland
Community College; the acquisition, rehabilitation and
installation of equipment and materials for scientific and
historical surveys; the making of grants or loans for
distribution to eligible vocational education instructional
programs for the upgrading of vocational education programs,
school shops and laboratories, including the acquisition,
rehabilitation and installation of technical equipment and

SB3255 Enrolled - 22 - LRB104 19081 KTG 32526 b
materials; the making of grants or loans for distribution to
eligible local educational agencies for the upgrading of math
and science instructional programs, including the acquisition
of instructional equipment and materials; miscellaneous
capital improvements for universities and community colleges
including the planning, engineering, construction,
reconstruction, remodeling, improvement, repair and
installation of capital facilities and costs of planning,
supplies, equipment, materials, services, and all other
required expenses; the making of grants or loans for repair,
renovation and miscellaneous capital improvements for
privately operated colleges and universities and community
colleges, including the planning, engineering, acquisition,
construction, reconstruction, remodeling, improvement, repair
and installation of capital facilities and costs of planning,
supplies, equipment, materials, services, and all other
required expenses; and the making of grants or loans for
distribution to local governments for hospital and other
health care facilities including the planning, engineering,
acquisition, construction, reconstruction, remodeling,
improvement, repair and installation of capital facilities and
costs of planning, supplies, equipment, materials, services
and all other required expenses.
(d) $297,873,000 $277,873,000 for protection,
preservation, restoration and conservation of environmental
and natural resources, including: the making of grants to soil

SB3255 Enrolled - 23 - LRB104 19081 KTG 32526 b
and water conservation districts for the planning and
implementation of conservation practices and for funding
contracts with the Soil Conservation Service for watershed
planning; the making of grants to units of local government
for the capital development and improvement of recreation
areas, including planning and engineering costs, sewer
projects, including planning and engineering costs and water
projects, including planning and engineering costs, and for
the acquisition of open space lands, including the acquisition
of easements and other property interests of less than fee
simple ownership; the making of grants to units of local
government through the Illinois Green Infrastructure Grant
Program to protect water quality and mitigate flooding; the
acquisition and related costs and development and management
of natural heritage lands, including natural areas and areas
providing habitat for endangered species and nongame wildlife,
and buffer area lands; the acquisition and related costs and
development and management of habitat lands, including forest,
wildlife habitat and wetlands; and the removal and disposition
of hazardous substances, including the cost of project
management, equipment, laboratory analysis, and contractual
services necessary for preventative and corrective actions
related to the preservation, restoration and conservation of
the environment, including deposits not to exceed $60,000,000
in the aggregate into the Hazardous Waste Fund and the
Brownfields Redevelopment Fund for improvements in accordance

SB3255 Enrolled - 24 - LRB104 19081 KTG 32526 b
with the provisions of Titles V and XVII of the Environmental
Protection Act.
(e) The amount specified in paragraph (a) above shall
include an amount necessary to pay reasonable expenses of each
issuance and sale of the Bonds, as specified in the related
Bond Sale Order (hereinafter defined).
(f) Any unexpended proceeds from any sale of Bonds which
are held in the Build Illinois Bond Fund may be used to redeem,
purchase, advance refund, or defease any Bonds outstanding.
(Source: P.A. 103-7, eff. 7-1-23; 103-591, eff. 7-1-24; 104-8,
eff. 1-1-26.)
(30 ILCS 425/13) (from Ch. 127, par. 2813)
Sec. 13. Computation of principal and interest; transfer
from Build Illinois Bond Account; payment from Build Illinois
Bond Retirement and Interest Fund. Upon each delivery of
Bonds authorized to be issued under this Act, the trustee
under the Master Indenture shall compute and certify to the
Director of the Governor's Office of Management and Budget,
the Comptroller and the Treasurer (a) the total amount of the
principal of and the interest and the premium, if any, on the
Bonds then being issued and on Bonds previously issued and
outstanding that will be payable in order to retire such Bonds
at their stated maturities or mandatory sinking fund payment
dates and (b) the amount of principal of and interest and
premium, if any, on such Bonds that will be payable on each

SB3255 Enrolled - 25 - LRB104 19081 KTG 32526 b
principal, interest and mandatory sinking fund payment date
according to the tenor of such Bonds during the then current
and each succeeding fiscal year. Such certifications shall
include with respect to interest payable on Variable Rate
Bonds the maximum amount of interest which may be payable for
the relevant period after taking into account any credits
permitted in the related indenture against the amount of such
interest required to be appropriated for such period pursuant
to subsection (c) of Section 11 of this Act.
On or before June 20, 1993 and on or before each June 20
thereafter so long as Bonds remain outstanding, the trustee
under the Master Indenture shall deliver to the Director of
the Governor's Office of Management and Budget (formerly
Bureau of the Budget), the Comptroller and the Treasurer a
certificate setting forth the "Certified Annual Debt Service
Requirement" (hereinafter defined) for the next succeeding
fiscal year. If Bonds are issued subsequent to the delivery of
any such certificate, upon the issuance of such Bonds the
trustee under the Master Indenture shall deliver a
supplemental certificate setting forth the revisions, if any,
in the Certified Annual Debt Service Requirement resulting
from the issuance of such Bonds. The "Certified Annual Debt
Service Requirement" for any fiscal year shall be an amount
equal to (a) the aggregate amount of principal, interest and
premium, if any, payable on outstanding Bonds during such
fiscal year plus (b) the amount required to be deposited into

SB3255 Enrolled - 26 - LRB104 19081 KTG 32526 b
any reserve fund securing such Bonds or for the purpose of
retiring or defeasing such Bonds plus (c) the amount of any
deficiencies in required transfers of amounts described in
clauses (a) and (b) for any prior fiscal year, minus (d) the
amount, if any, of such interest to be paid from Bond proceeds
on deposit under any indenture; provided, however, that
interest payable on Variable Rate Bonds shall be calculated at
the maximum rate of interest which may be payable during such
fiscal year after taking into account any credits permitted in
the related indenture against the amount of such interest
required to be appropriated for such period pursuant to
subsection (c) of Section 11 of this Act.
In each month during fiscal years 1986 through 1993, the
State Treasurer and Comptroller shall transfer, on the last
day of such month, from the Build Illinois Bond Account to the
Build Illinois Bond Retirement and Interest Fund and shall
make payment from the Build Illinois Bond Retirement and
Interest Fund to the trustee under the Master Indenture of an
amount equal to 1/12 of 150% of the amount set forth below for
each such fiscal year, plus any cumulative deficiency in such
transfers and payments for prior months; provided that such
transfers shall commence in October, 1985 and such amounts for
fiscal year 1986 shall equal 1/9 of 150% of the amount set
forth below for such fiscal year:
Fiscal Year Amount
1986 $15,000,000

SB3255 Enrolled - 27 - LRB104 19081 KTG 32526 b
1987 $25,000,000
1988 $40,000,000
1989 $54,000,000
1990 $85,400,000
1991 $133,600,000
1992 $164,400,000
1993 $188,900,000
provided that payments of such amounts from the Build Illinois
Bond Retirement and Interest Fund to the trustee under the
Master Indenture shall commence on the last day of the month in
which Bonds are initially issued under this Act; and, further
provided, that the first such payment to said trustee shall
equal the entire amount then on deposit in the Build Illinois
Bond Retirement and Interest Fund; and, further provided, that
the aggregate amount of transfers and payments for any such
fiscal year shall not exceed the amount set forth above for
such fiscal year.
In each month in which Bonds are outstanding during fiscal
year 1994 and each fiscal year thereafter, the State Treasurer
and Comptroller shall transfer, on the last day of such month,
(i) with respect to Bonds constituting bonds issued pursuant
to the bond authorization under this Act enacted pursuant to
Public Act 96-36, Public Act 96-1554, Public Act 98-94, and
Public Act 103-591, and this amendatory Act of the 104th
General Assembly, (and any refunding Bonds issued to refund
such Bonds), first from the Capital Projects Fund and second,

SB3255 Enrolled - 28 - LRB104 19081 KTG 32526 b
if needed, from the Build Illinois Bond Account and (ii) with
respect to all other Bonds not described in clause (i), from
the Build Illinois Bond Account, in each case, to the Build
Illinois Bond Retirement and Interest Fund and shall make
payment from the Build Illinois Bond Retirement and Interest
Fund to the trustee under the Master Indenture of an amount
equal to the greater of (a) 1/12th of 150% of the Certified
Annual Debt Service Requirement or (b) the Tax Act Amount (as
defined in Section 3 of the "Retailers' Occupation Tax Act",
as amended) deposited in the Build Illinois Bond Account
during such month, plus any cumulative deficiency in such
transfers and payments for prior months; provided that such
transfers and payments for any such fiscal year shall not
exceed the greater of (a) the Certified Annual Debt Service
Requirement or (b) the Tax Act Amount.
(Source: P.A. 103-591, eff. 7-1-24; 104-8, eff. 1-1-26.)
Article 99.
Section 99-99. Effective date. This Act takes effect upon
becoming law.