WELCH-HAWKINSON. (MAUTINO) 70 ILCS 530/7.5 new Amends the Upper Illinois River Valley Development Authority Act. Provides that beginning on the effective date of this amendatory Act, bonds issued by the Authority and the bonds' interest shall be exempt from State taxation, except for estate, transfer, and inheritance taxes. Provides that the amount of the interest net of the bond premium amortization shall be added and then subtracted from base income. Sunsets the exemption after all bonds have been paid. Effective immediately. 99-02-09 S FIRST READING 99-02-09 S REFERRED TO SENATE RULES COMMITTEE RULES 99-02-17 S ASSIGNED TO COMMITTEE REVENUE 99-03-04 S TO SUBCOMMITTEE 99-03-11 S DO PASS 009-000-000 SREV 99-03-11 S PLACED ON CALENDAR ORDER OF 2ND READING 99-03-16 99-03-16 S SECOND READING 99-03-16 S PLACED ON CALENDAR ORDER OF 3RD READING 99-03-17 99-03-18 S ADDED AS A CHIEF CO-SPONSOR HAWKINSON 99-03-18 S THIRD READING - PASSED 058-000-000 99-03-18 H ARRIVE IN HOUSE 99-03-18 H HOUSE SPONSOR MAUTINO 99-03-18 H PLACED CALENDAR ORDER OF FIRST READING 99-03-19 H FIRST READING 99-03-19 H REFERRED TO HOUSE RULES COMMITTEE RULES 99-04-14 H ASSIGNED TO COMMITTEE REVENUE 99-04-29 H DO PASS/SHORT DEBATE 008-000-000 HREV 99-04-29 H PLACED CALENDAR 2ND READING-SHORT DEBATE 99-05-04 H SECOND READING-SHORT DEBATE 99-05-04 H PLCD CAL ORDER 3RD READING-SHORT DEBATE 99-05-12 H THIRD READING/SHORT DEBATE/PASSED 114-001-000 99-05-12 S PASSED BOTH HOUSES 99-06-10 S SENT TO THE GOVERNOR 99-08-06 S GOVERNOR VETOED 99-11-04 S PLACED CALENDAR TOTAL VETO NOVEMBER 16, 1999 99-11-04 S MOTION FILED OVERRIDE GOVERNOR VETO WELCH 99-11-16 S 3/5 VOTE REQUIRED 99-11-16 S VERIFIED 99-11-16 S OVERRIDE GOVERNOR VETO - SENATE LOST 035-016-000 99-11-16 S MOTION FILED TO RECONSIDER VOTE BERMAN 99-11-16 S PLACED ON CALENDAR MOTIONS-RECON VOTE 99-11-18 S TOTAL VETO STANDS END OF INQUIRY Full Text Bill Summary