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Full Text of SB1995  97th General Assembly

SB1995 97TH GENERAL ASSEMBLY

  
  

 


 
97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
SB1995

 

Introduced 2/10/2011, by Sen. Kirk W. Dillard

 

SYNOPSIS AS INTRODUCED:
 
20 ILCS 3005/10 new

    Amends the Governor's Office of Management and Budget Act. Provides that, beginning the first full calendar week of July in 2011, the Office shall post and maintain on the Office's official Internet website, information detailing the State's debt paydown. Sets forth the requirements for the website. Provides that the information on the website must include the assets, liabilities, and unfunded liabilities of the Teachers Retirement System, State Employees Retirement System, State Universities Retirement Systems, Judges Retirement System, and General Assembly Retirement System. Effective immediately.


LRB097 10245 RLJ 50444 b

FISCAL NOTE ACT MAY APPLY

 

 

A BILL FOR

 

SB1995LRB097 10245 RLJ 50444 b

1    AN ACT concerning State government.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Governor's Office of Management and Budget
5Act is amended by adding Section 10 as follows:
 
6    (20 ILCS 3005/10 new)
7    Sec. 10. Posting requirements; State debt paydown.
8Beginning the first full calendar week of July in 2011, the
9Office shall post and maintain on the Office's official
10Internet website, information detailing the State's debt
11paydown. This website shall be updated by the Office at least
12once every 7 calendar days. The information on the website
13shall include the outstanding principal amount as of any date
14in the preceding 7 days, and principal or redemption and
15interest payments made within the preceding 7 calendar days, on
16the State's general obligation bonds, Build Illinois bonds,
17short-term borrowings issued under the Short Term Borrowing
18Act, and other State debt as defined in subsection (a) of
19Section 9 of Article 9 of the Illinois Constitution. The
20information on the website also shall include the latest
21available assets, liabilities, and unfunded liabilities of the
22Teachers Retirement System, State Employees Retirement System,
23State Universities Retirement Systems, Judges Retirement

 

 

SB1995- 2 -LRB097 10245 RLJ 50444 b

1System, and General Assembly Retirement System and
2contributions made by the State to each of these retirement
3systems within the preceding 7 calendar days. For each of the
4pension systems, the Comptroller and the Treasurer shall
5promptly provide information requested by the Office to enable
6the Office to timely comply with this Section.
 
7    Section 99. Effective date. This Act takes effect upon
8becoming law.