WELCH. 70 ILCS 530/7.5 new Amends the Upper Illinois River Valley Development Authority Act. Provides that on and after the effective date of this amendatory Act, bonds issued by the Authority under the Act and the interest therefrom shall be exempt from State taxation, except for estate, transfer, and inheritance taxes. Effective immediately. 98-02-19 S FIRST READING 98-02-19 S REFERRED TO SENATE RULES COMMITTEE RULES 99-01-12 S SESSION SINE DIE END OF INQUIRY Full Text Bill Summary