093_SB1046eng

 
SB1046 Engrossed                     LRB093 05346 SJM 05436 b

 1        AN ACT concerning finance.

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

 4        Section 5.  The Illinois  Development  Finance  Authority
 5    Act is amended by changing Section 8 as follows:

 6        (20 ILCS 3505/8) (from Ch. 48, par. 850.08)
 7        Sec. 8.  Outstanding bond authorization limits. Exclusive
 8    of  the  bonds  authorized  to  be  issued under Section 7.8,
 9    Section 7.87, or under the Illinois Environmental  Facilities
10    Financing  Act,  and  exclusive  of  the  authorization under
11    Section 7.56a  of  this  Act,  the  Authority  may  not  have
12    outstanding  at  any  one time bonds for any of its corporate
13    purposes  in  an   aggregate   principal   amount   exceeding
14    $8,200,000,000  $6,200,000,000,  excluding  bonds  issued  to
15    refund   outstanding  bonds.   Up  to  $100,000,000  of  such
16    outstanding bonds shall be issued with respect to  industrial
17    projects  located within areas designated as Enterprise Zones
18    by the Department of Commerce and Community Affairs.
19    (Source: P.A. 91-681, eff. 1-26-00; 92-605, eff. 7-1-02.)

20        Section 99.  Effective date.  This Act takes effect  upon
21    becoming law.