093_HB3740

 
                                     BOB093 00155 MJD 00155 b

 1        AN ACT concerning bonds.

 2        Be  it  enacted  by  the People of the State of Illinois,
 3    represented in the General Assembly:

 4                              ARTICLE 1

 5        Section 5.  THe General Obligation Bond Act is amended by
 6    changing Sections 2, 3, and 6 as follows:

 7        (30 ILCS 330/2) (from Ch. 127, par. 652)
 8        Sec. 2. Authorization for Bonds.  The State  of  Illinois
 9    is  authorized  to issue, sell and provide for the retirement
10    of General Obligation Bonds of the State of Illinois for  the
11    categories  and  specific  purposes  expressed  in Sections 2
12    through 8 of this Act, in the total amount of $17,088,128,969
13    $17,658,149,369 $16,908,149,369 $16,015,007,500.
14        The bonds authorized in this Section 2 and in Section  16
15    of this Act are herein called "Bonds".
16        Of  the  total amount of Bonds authorized in this Act, up
17    to $2,200,000,000 in aggregate original principal amount  may
18    be  issued  and  sold  in  accordance  with the Baccalaureate
19    Savings Act in the form of General Obligation College Savings
20    Bonds.
21        Of the total amount of Bonds authorized in this  Act,  up
22    to $300,000,000 in aggregate original principal amount may be
23    issued and sold in accordance with the Retirement Savings Act
24    in the form of General Obligation Retirement Savings Bonds.
25        The  issuance  and  sale of Bonds pursuant to the General
26    Obligation Bond Act is an economical and efficient method  of
27    financing  the  capital  and  general  operating needs of the
28    State.  This Act will permit the issuance of a  multi-purpose
29    General  Obligation  Bond  with  uniform  terms and features.
30    This will not only lower the cost of  registration  but  also
 
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 1    reduce  the  overall  cost  of  issuing debt by improving the
 2    marketability of Illinois General Obligation Bonds.
 3    (Source:  P.A.  91-39,  eff.  6-15-99;  91-53,  eff  6-30-99;
 4    91-710, eff.  5-17-00;  92-13,  eff.  6-22-01;  92-596,  eff.
 5    6-28-02; 92-598, eff. 6-28-02; revised 10-8-02.)

 6        (30 ILCS 330/3) (from Ch. 127, par. 653)
 7        Sec.  3. Capital Facilities. The amount of $7,481,214,969
 8    $7,320,235,369 is authorized to be used for the  acquisition,
 9    development,   construction,   reconstruction,   improvement,
10    financing, architectural planning and installation of capital
11    facilities   within   the  State,  consisting  of  buildings,
12    structures, durable equipment, land, and  interests  in  land
13    for the following specific purposes:
14             (a)  $2,258,590,100  $2,211,228,000  for educational
15        purposes by State universities and colleges, the Illinois
16        Community College Board created by the  Public  Community
17        College  Act  and for grants to public community colleges
18        as authorized by Sections 5-11 and  5-12  of  the  Public
19        Community College Act;
20             (b)  $1,632,940,000  $1,607,420,000 for correctional
21        purposes at State prison and correctional centers;
22             (c)  $548,202,500  $531,175,000  for  open   spaces,
23        recreational and conservation purposes and the protection
24        of land;
25             (d)  $614,197,000   $589,917,000   for   child  care
26        facilities, mental  and  public  health  facilities,  and
27        facilities  for  the  care of disabled veterans and their
28        spouses;
29             (e)  $1,481,780,000 $1,455,990,000 for  use  by  the
30        State, its departments, authorities, public corporations,
31        commissions and agencies;
32             (f)  $818,100  for cargo handling facilities at port
33        districts   and   for   breakwaters,   including   harbor
 
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 1        entrances,  at  port  districts   in   conjunction   with
 2        facilities for small boats and pleasure crafts;
 3             (g)  $215,657,000  $204,657,000  for  water resource
 4        management projects;
 5             (h)  $16,940,269 for the provision of facilities for
 6        food production research and  related  instructional  and
 7        public  service  activities at the State universities and
 8        public community colleges;
 9             (i)  $41,000,000  $36,000,000  for  grants  by   the
10        Secretary  of  State,  as  State  Librarian,  for central
11        library  facilities  authorized  by  Section  8  of   the
12        Illinois Library System Act and for grants by the Capital
13        Development Board to units of local government for public
14        library facilities;
15             (j)  $25,000,000  for  the acquisition, development,
16        construction,  reconstruction,  improvement,   financing,
17        architectural   planning   and  installation  of  capital
18        facilities consisting of buildings,  structures,  durable
19        equipment and land for grants to counties, municipalities
20        or   public   building   commissions   with  correctional
21        facilities that do not comply with the minimum  standards
22        of  the Department of Corrections under Section 3-15-2 of
23        the Unified Code of Corrections;
24             (k)  $5,000,000 for grants in fiscal  year  1988  by
25        the   Department   of  Conservation  for  improvement  or
26        expansion of  aquarium  facilities  located  on  property
27        owned by a park district;
28             (l)  $432,590,000  to  State  agencies for grants to
29        local  governments  for   the   acquisition,   financing,
30        architectural    planning,    development,    alteration,
31        installation,  and  construction  of  capital  facilities
32        consisting  of  buildings, structures, durable equipment,
33        and land; and
34             (m)  $208,500,000 $203,500,000 for the Illinois Open
 
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 1        Land Trust Program as defined by the Illinois  Open  Land
 2        Trust Act.
 3        The  amounts  authorized above for capital facilities may
 4    be  used  for  the  acquisition,  installation,   alteration,
 5    construction, or reconstruction of capital facilities and for
 6    the  purchase  of  equipment for the purpose of major capital
 7    improvements which will reduce energy  consumption  in  State
 8    buildings or facilities.
 9    (Source:  P.A.  91-39,  6-15-99; 91-53, eff. 6-30-99; 91-710,
10    eff. 5-17-00; 92-13, eff. 6-22-01; 92-598, eff. 6-28-02.)

11        (30 ILCS 330/6) (from Ch. 127, par. 656)
12        Sec. 6.  Anti-Pollution.
13        (a)  The   amount   of   $319,815,000   $300,815,000   is
14    authorized for allocation  by  the  Environmental  Protection
15    Agency  for  grants  or loans to units of local government in
16    such amounts, at such times  and  for  such  purpose  as  the
17    Agency   deems  necessary  or  desirable  for  the  planning,
18    financing, and construction  of  municipal  sewage  treatment
19    works  and  solid waste disposal facilities and for making of
20    deposits  into  the  Water  Revolving  Fund  and   the   U.S.
21    Environmental   Protection  Fund  to  provide  assistance  in
22    accordance  with  the  provisions  of  Title  IV-A   of   the
23    Environmental Protection Act.
24        (b)  The   amount   of  $160,500,000  is  authorized  for
25    allocation by the Environmental Protection Agency for payment
26    of claims submitted to the State  and  approved  for  payment
27    under   the   Leaking   Underground   Storage   Tank  Program
28    established in Title XVI of the Environmental Protection Act.
29    (Source: P.A. 91-39,  eff.  6-15-99;  91-710,  eff.  5-17-00;
30    92-13, eff. 6-22-01; 92-598, eff. 6-28-02.)

31                              ARTICLE 2
 
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 1        Section  5.   The  Build  Illinois Bond Act is amended by
 2    changing Sections 2 and 4 as follows:

 3        (30 ILCS 425/2) (from Ch. 127, par. 2802)
 4        Sec. 2.  Authorization for Bonds.  The State of  Illinois
 5    is  authorized  to issue, sell and provide for the retirement
 6    of limited obligation bonds, notes  and  other  evidences  of
 7    indebtedness  of the State of Illinois in the total principal
 8    amount  of  $3,928,509,000   $3,805,509,000   herein   called
 9    "Bonds".   Such  authorized  amount of Bonds shall be reduced
10    from time to time by amounts, if any, which are equal to  the
11    moneys  received  by  the Department of Revenue in any fiscal
12    year pursuant to Section  3-1001  of  the  "Illinois  Vehicle
13    Code",  as  amended, in excess of the Annual Specified Amount
14    (as defined in Section 3 of the  "Retailers'  Occupation  Tax
15    Act",  as  amended) and transferred at the end of such fiscal
16    year from the General Revenue  Fund  to  the  Build  Illinois
17    Purposes  Fund  as  provided  in Section 3-1001 of said Code;
18    provided, however, that no such reduction  shall  affect  the
19    validity  or enforceability of any Bonds issued prior to such
20    reduction.   Such  amount  of  authorized  Bonds   shall   be
21    exclusive  of  any refunding Bonds issued pursuant to Section
22    15 of this Act and exclusive of any Bonds issued pursuant  to
23    this Section which are redeemed, purchased, advance refunded,
24    or  defeased in accordance with paragraph (f) of Section 4 of
25    this Act.  Bonds shall  be  issued  for  the  categories  and
26    specific purposes expressed in Section 4 of this Act.
27    (Source:  P.A.  91-39,  eff.  6-15-99;  91-53,  eff. 6-30-99;
28    91-709, eff. 5-17-00; 92-9, eff. 6-11-01; 92-598, 6-28-02.)

29        (30 ILCS 425/4) (from Ch. 127, par. 2804)
30        Sec. 4. Purposes of Bonds.  Bonds shall be issued for the
31    following purposes and in  the  approximate  amounts  as  set
32    forth below:
 
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 1        (a)  $2,453,000,000  $2,417,000,000  for  the expenses of
 2    issuance and sale of Bonds, including bond discounts, and for
 3    planning,     engineering,     acquisition,     construction,
 4    reconstruction, development, improvement and extension of the
 5    public infrastructure in the State  of  Illinois,  including:
 6    the  making of loans or grants to local governments for waste
 7    disposal systems, water and sewer line extensions  and  water
 8    distribution  and  purification  facilities,  rail  or air or
 9    water port improvements, gas and electric utility extensions,
10    publicly owned industrial  and  commercial  sites,  buildings
11    used  for  public  administration  purposes  and other public
12    infrastructure capital improvements; the making of  loans  or
13    grants  to  units  of  local  government  for  financing  and
14    construction   of   wastewater   facilities;  refinancing  or
15    retiring bonds issued between January 1, 1987 and January  1,
16    1990  by  home  rule municipalities, debt service on which is
17    provided from a tax imposed by home rule municipalities prior
18    to January 1, 1990 on the sale of food and drugs pursuant  to
19    Section   8-11-1   of  the  Home  Rule  Municipal  Retailers'
20    Occupation Tax  Act  or  Section  8-11-5  of  the  Home  Rule
21    Municipal  Service Occupation Tax Act; the making of deposits
22    not to exceed $70,000,000 in the  aggregate  into  the  Water
23    Pollution  Control  Revolving  Fund  to provide assistance in
24    accordance  with  the  provisions  of  Title  IV-A   of   the
25    Environmental  Protection  Act;  the  planning,  engineering,
26    acquisition,    construction,   reconstruction,   alteration,
27    expansion, extension and improvement  of  highways,  bridges,
28    structures  separating  highways  and  railroads, rest areas,
29    interchanges, access roads to and from  any  State  or  local
30    highway  and  other transportation improvement projects which
31    are related to economic development activities; the making of
32    loans or grants for  planning,  engineering,  rehabilitation,
33    improvement  or  construction of rail and transit facilities;
34    the   planning,   engineering,   acquisition,   construction,
 
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 1    reconstruction and improvement of watershed, drainage,  flood
 2    control,  recreation and related improvements and facilities,
 3    including expenses related to land and easement  acquisition,
 4    relocation, control structures, channel work and clearing and
 5    appurtenant  work;  the  making of grants for improvement and
 6    development of  zoos  and  park  district  field  houses  and
 7    related  structures; and the making of grants for improvement
 8    and development of Navy Pier and related structures.
 9        (b)  $201,000,000  $186,000,000  for  fostering  economic
10    development and increased employment and the  well  being  of
11    the citizens of Illinois, including: the making of grants for
12    improvement  and  development  of McCormick Place and related
13    structures;   the   planning   and    construction    of    a
14    microelectronics  research  center,  including  the planning,
15    engineering,  construction,   improvement,   renovation   and
16    acquisition  of  buildings,  equipment  and  related  utility
17    support  systems;  the  making  of  loans  to  businesses and
18    investments in small businesses;  acquiring  real  properties
19    for  industrial  or  commercial  site development; acquiring,
20    rehabilitating  and  reconveying  industrial  and  commercial
21    properties  for  the  purpose  of  expanding  employment  and
22    encouraging private and other public sector investment in the
23    economy of Illinois; the payment of expenses associated  with
24    siting    the   Superconducting   Super   Collider   Particle
25    Accelerator   in   Illinois   and   with   its   acquisition,
26    construction, maintenance, operation, promotion and  support;
27    the   making   of   loans   for  the  planning,  engineering,
28    acquisition,  construction,  improvement  and  conversion  of
29    facilities  and  equipment  which  will  foster  the  use  of
30    Illinois coal; the payment of expenses  associated  with  the
31    promotion,  establishment, acquisition and operation of small
32    business  incubator  facilities  and  agribusiness   research
33    facilities,   including   the  lease,  purchase,  renovation,
34    planning,  engineering,  construction  and   maintenance   of
 
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 1    buildings,  utility  support systems and equipment designated
 2    for such purposes and the establishment  and  maintenance  of
 3    centralized  support services within such facilities; and the
 4    making of grants or loans to units of  local  government  for
 5    Urban   Development  Action  Grant  and  Housing  Partnership
 6    programs.
 7        (c)  $1,112,358,100 $1,052,358,100  for  the  development
 8    and  improvement  of  educational,  scientific, technical and
 9    vocational programs  and  facilities  and  the  expansion  of
10    health  and  human  services  for  all  citizens of Illinois,
11    including: the making of construction and improvement  grants
12    and loans to public libraries and library systems; the making
13    of  grants  and  loans for planning, engineering, acquisition
14    and  construction  of  a  new  State   central   library   in
15    Springfield;   the  planning,  engineering,  acquisition  and
16    construction of an animal and dairy  sciences  facility;  the
17    planning,  engineering,  acquisition  and  construction  of a
18    campus and all related buildings, facilities,  equipment  and
19    materials  for  Richland  Community College; the acquisition,
20    rehabilitation and installation of  equipment  and  materials
21    for  scientific  and historical surveys; the making of grants
22    or loans for distribution to  eligible  vocational  education
23    instructional   programs  for  the  upgrading  of  vocational
24    education programs, school shops and laboratories,  including
25    the acquisition, rehabilitation and installation of technical
26    equipment  and  materials;  the making of grants or loans for
27    distribution to eligible local educational agencies  for  the
28    upgrading   of   math  and  science  instructional  programs,
29    including the  acquisition  of  instructional  equipment  and
30    materials;    miscellaneous    capital    improvements    for
31    universities  and  community colleges including the planning,
32    engineering,   construction,   reconstruction,    remodeling,
33    improvement,  repair  and  installation of capital facilities
34    and  costs  of  planning,  supplies,  equipment,   materials,
 
                            -9-      BOB093 00155 MJD 00155 b
 1    services,  and  all  other  required  expenses; the making of
 2    grants or loans  for  repair,  renovation  and  miscellaneous
 3    capital  improvements  for  privately  operated  colleges and
 4    universities and community colleges, including the  planning,
 5    engineering,   acquisition,   construction,   reconstruction,
 6    remodeling,  improvement,  repair and installation of capital
 7    facilities  and  costs  of  planning,  supplies,   equipment,
 8    materials, services, and all other required expenses; and the
 9    making   of   grants  or  loans  for  distribution  to  local
10    governments for hospital and  other  health  care  facilities
11    including    the    planning,    engineering,    acquisition,
12    construction, reconstruction, remodeling, improvement, repair
13    and installation of capital facilities and costs of planning,
14    supplies,   equipment,  materials,  services  and  all  other
15    required expenses.
16        (d)  $162,150,900    $150,150,900     for     protection,
17    preservation,  restoration  and conservation of environmental
18    and natural resources, including: the  making  of  grants  to
19    soil  and  water  conservation districts for the planning and
20    implementation of  conservation  practices  and  for  funding
21    contracts  with  the  Soil Conservation Service for watershed
22    planning; the making of grants to units of  local  government
23    for  the  capital  development  and improvement of recreation
24    areas,  including  planning  and  engineering  costs,   sewer
25    projects,  including planning and engineering costs and water
26    projects, including planning and engineering costs,  and  for
27    the   acquisition   of   open   space  lands,  including  the
28    acquisition of easements and other property interests of less
29    than fee simple ownership; the acquisition and related  costs
30    and  development  and  management  of natural heritage lands,
31    including natural  areas  and  areas  providing  habitat  for
32    endangered  species  and  nongame  wildlife,  and buffer area
33    lands; the acquisition and related costs and development  and
34    management  of  habitat  lands,  including  forest,  wildlife
 
                            -10-     BOB093 00155 MJD 00155 b
 1    habitat  and  wetlands;  and  the  removal and disposition of
 2    hazardous  substances,  including   the   cost   of   project
 3    management,  equipment,  laboratory analysis, and contractual
 4    services necessary for preventative  and  corrective  actions
 5    related  to the preservation, restoration and conservation of
 6    the environment, including deposits not to exceed $60,000,000
 7    in the aggregate  into  the  Hazardous  Waste  Fund  and  the
 8    Brownfields Redevelopment Fund for improvements in accordance
 9    with the provisions of Titles V and XVII of the Environmental
10    Protection Act.
11        (e)  The  amount  specified  in paragraph (a) above shall
12    include an amount necessary to  pay  reasonable  expenses  of
13    each  issuance  and  sale  of  the Bonds, as specified in the
14    related Bond Sale Order (hereinafter defined).
15        (f)  Any unexpended proceeds from any sale of Bonds which
16    are held in the Build Illinois  Bond  Fund  may  be  used  to
17    redeem,  purchase,  advance  refund,  or  defease  any  Bonds
18    outstanding.
19    (Source:  P.A.  91-39,  eff.  6-15-99;  91-53,  eff. 6-30-99;
20    91-709,  eff.  5-17-00;  92-9,  eff.  6-11-01;  92-598,  eff.
21    6-28-02.)

22        Section 99.  Effective date.  This ACt takes effect  upon
23    becoming law.