Illinois General Assembly - Bill Status for SB1477
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 Bill Status of SB1477  93rd General Assembly

Short Description:  GO BOND-TOBACCO SECURITIZATION

Senate Sponsors
Sen. Patrick Welch - Debbie DeFrancesco Halvorson - Vince Demuzio

Last Action
DateChamber Action
  1/11/2005SenateSession Sine Die

Statutes Amended In Order of Appearance
30 ILCS 105/6z-43
30 ILCS 330/7.5


Synopsis As Introduced
Amends the General Obligation Bond Act. Provides that the tobacco securitization bonds may be issued only in fiscal years 2003 and 2004 (now, only in fiscal year 2003). Amends the State Finance Act. Makes a technical change in a Section concerning the Tobacco Settlement Recovery Fund. Effective immediately.

 State Debt Impact Note (Economic and Fiscal Commission)
 SB 1477 allows General Obligation "Tobacco Securitization" bonds to be issued not only in FY 2003, but also in FY 2004. Public Act 92-0596 authorized the issuance of $750 million of Tobacco Securitization bonds, that, if issued, would increase: Potential General Obligation debt by $0.9-$1.5 billion Annual debt service by $53-$103 million.

 Fiscal Note (Bureau of the Budget)
 No fiscal impact for this bill.

Actions 
DateChamber Action
  2/20/2003SenateFiled with Secretary by Sen. Patrick Welch
  2/20/2003SenateFirst Reading
  2/20/2003SenateReferred to Rules
  2/27/2003SenateAssigned to Executive
  3/6/2003SenateDo Pass Executive; 008-005-000
  3/6/2003SenatePlaced on Calendar Order of 2nd Reading March 11, 2003
  3/18/2003SenateFiscal Note Requested by Sen. Peter J. Roskam
  3/19/2003SenateState Debt Impact Note Filed
  3/20/2003SenateAdded as Chief Co-Sponsor Sen. Debbie DeFrancesco Halvorson
  3/21/2003SenateState Debt Impact Note Requested by Sen. Peter J. Roskam
  3/24/2003SenateFiscal Note Filed
  3/25/2003SenateSecond Reading
  3/25/2003SenatePlaced on Calendar Order of 3rd Reading March 26, 2003
  3/26/2003SenateAdded as Chief Co-Sponsor Sen. Vince Demuzio
  4/4/2003SenateThird Reading Deadline Extended - Rule 2-10(e) to April 9, 2003.
  4/9/2003SenateThird Reading Deadline Extended - Rule 2-10(e) to December 31, 2003.
  7/1/2003SenatePursuant to Senate Rule 3-9(b) / Referred to Rules
  1/11/2005SenateSession Sine Die

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