Illinois General Assembly - Bill Status for SB0551
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 Bill Status of SB0551  97th General Assembly

Short Description:  LOCAL GOVT DEBT REFORM-BONDS

Senate Sponsors
Sen. David S. Luechtefeld

House Sponsors
(Rep. John D. Cavaletto - Brandon W. Phelps)

Last Action
DateChamber Action
  12/28/2012SenatePublic Act . . . . . . . . . 97-1138

Statutes Amended In Order of Appearance
70 ILCS 531/1


Synopsis As Introduced
Amends the Illinois Urban Development Authority Act. Makes a technical change in a Section concerning the short title.

Senate Floor Amendment No. 1
Deletes reference to:
70 ILCS 531/1
Adds reference to:
30 ILCS 350/11from Ch. 17, par. 6911

Replaces everything after the enacting clause. Amends the Local Government Debt Reform Act. Provides that bonds that have been refunded under the Act shall not be considered to be indebtedness for the purposes of any statutory or other debt limitation if the refunded bonds are secured by and to be paid from an escrow account that is invested in certain obligations or bonds and determined by an independent certified public accountant or nationally recognized feasibility analyst to be sufficient to provide for the timely payment of the refunded bonds. Provides that a governmental unit may deposit cash into an escrow account to be held uninvested for the purpose of refunding or providing for the payment on its bonds. Effective immediately.

House Floor Amendment No. 1
Deletes reference to:
30 ILCS 350/11
Adds reference to:
P.A. 97-639, Sec. 5-15

Replaces everything after the enacting clause. Amends Public Act 97-639 in the provision prohibiting the Illinois National Guard Adjutant General from conveying certain real property to the City of Salem until the Adjutant General determines that the property is no longer required for military purposes. Provides that, in this regard, construction of the new Readiness Center in Mt. Vernon (instead of Salem) must be completed, and all military units with associated equipment must have been transferred from certain armory property to the new Readiness Center in Mt. Vernon (instead of Salem).

Actions 
DateChamber Action
  2/8/2011SenateFiled with Secretary by Sen. John J. Cullerton
  2/8/2011SenateFirst Reading
  2/8/2011SenateReferred to Assignments
  3/9/2011SenateAssigned to Executive
  3/17/2011SenateDo Pass Executive; 015-000-000
  3/17/2011SenatePlaced on Calendar Order of 2nd Reading March 17, 2011
  3/17/2011SenateSecond Reading
  3/17/2011SenatePlaced on Calendar Order of 3rd Reading March 29, 2011
  4/15/2011SenateRule 2-10 Third Reading Deadline Established As May 4, 2011
  7/23/2011SenatePursuant to Senate Rule 3-9(b) / Referred to Assignments
  3/22/2012SenateChief Sponsor Changed to Sen. Don Harmon
  3/26/2012SenateApproved for Consideration Assignments
  3/26/2012SenatePlaced on Calendar Order of 3rd Reading March 27, 2012
  3/27/2012SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. Don Harmon
  3/27/2012SenateSenate Floor Amendment No. 1 Referred to Assignments
  3/27/2012SenateSenate Floor Amendment No. 1 Assignments Refers to Local Government
  3/28/2012SenateSenate Floor Amendment No. 1 Recommend Do Adopt Local Government; 007-000-000
  3/28/2012SenateRecalled to Second Reading
  3/28/2012SenateSenate Floor Amendment No. 1 Adopted; Harmon
  3/28/2012SenatePlaced on Calendar Order of 3rd Reading
  3/28/2012SenateThird Reading - Passed; 055-001-000
  3/28/2012HouseArrived in House
  4/24/2012HouseChief House Sponsor Rep. Brandon W. Phelps
  4/24/2012HousePlaced on Calendar Order of First Reading
  4/24/2012HouseFirst Reading
  4/24/2012HouseReferred to Rules Committee
  5/11/2012HouseCommittee Deadline Extended-Rule 9(b) May 18, 2012
  5/11/2012HouseAssigned to Revenue & Finance Committee
  5/17/2012HouseAdded Alternate Chief Co-Sponsor Rep. Kenneth Dunkin
  5/17/2012HouseAlternate Chief Co-Sponsor Removed Rep. Kenneth Dunkin
  5/18/2012HouseFinal Action Deadline Extended-9(b) May 29, 2012
  5/24/2012HouseRecommends Do Pass Subcommittee/ Revenue & Finance Committee; 003-000-000
  5/24/2012HouseRemains in Revenue & Finance Committee
  5/24/2012HouseDo Pass / Short Debate Revenue & Finance Committee; 009-000-000
  5/24/2012HousePlaced on Calendar 2nd Reading - Short Debate
  5/24/2012HouseSecond Reading - Short Debate
  5/24/2012HouseHeld on Calendar Order of Second Reading - Short Debate
  5/29/2012HouseFinal Action Deadline Extended-9(b) May 31, 2012
  5/31/2012HouseRule 19(a) / Re-referred to Rules Committee
  11/9/2012HouseApproved for Consideration Rules Committee; 003-002-000
  11/9/2012HouseFinal Action Deadline Extended-9(b) January 8, 2013
  11/14/2012HousePlaced on Calendar 2nd Reading - Short Debate
  11/21/2012HouseHouse Floor Amendment No. 1 Filed with Clerk by Rep. Brandon W. Phelps
  11/21/2012HouseHouse Floor Amendment No. 1 Referred to Rules Committee
  11/26/2012HouseHouse Floor Amendment No. 1 Rules Refers to State Government Administration Committee
  11/27/2012HouseHouse Floor Amendment No. 1 Recommends Be Adopted State Government Administration Committee; 013-000-000
  11/28/2012HouseAlternate Chief Sponsor Changed to Rep. John D. Cavaletto
  11/28/2012HouseAdded Alternate Chief Co-Sponsor Rep. Brandon W. Phelps
  11/28/2012HouseHouse Floor Amendment No. 1 Adopted by Voice Vote
  11/28/2012HousePlaced on Calendar Order of 3rd Reading - Short Debate
  11/28/2012House3/5 Vote Required
  11/28/2012HouseThird Reading - Short Debate - Passed 114-000-000
  11/28/2012SenateSecretary's Desk - Concurrence House Amendment(s) 1
  11/28/2012SenatePlaced on Calendar Order of Concurrence House Amendment(s) 1 - November 29, 2012
  11/29/2012SenateHouse Floor Amendment No. 1 Motion to Concur Filed with Secretary Sen. Don Harmon
  11/29/2012SenateHouse Floor Amendment No. 1 Motion to Concur Referred to Assignments
  11/29/2012SenateChief Sponsor Changed to Sen. David S. Luechtefeld
  11/29/2012SenateHouse Floor Amendment No. 1 Motion to Concur Filed with Secretary Sen. David S. Luechtefeld
  11/29/2012SenateHouse Floor Amendment No. 1 Motion to Concur Referred to Assignments
  12/4/2012SenateHouse Floor Amendment No. 1 Motion to Concur Assignments Referred to State Government and Veterans Affairs
  12/4/2012SenateHouse Floor Amendment No. 1 Motion To Concur Recommended Do Adopt State Government and Veterans Affairs; 006-000-000
  12/5/2012SenateHouse Floor Amendment No. 1 Senate Concurs 050-000-000
  12/5/2012SenatePassed Both Houses
  12/11/2012SenateSent to the Governor
  12/28/2012SenateGovernor Approved
  12/28/2012SenateEffective Date June 1, 2013
  12/28/2012SenatePublic Act . . . . . . . . . 97-1138

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