91st General Assembly
Summary of SB1203
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Short description: 
GO BOND ACT-INCREASE                                                       

Synopsis of Bill as introduced:
        Amends the General Obligation Bond Act  by  reducing  by  $1  the      
   total  amount  of  General Obligation Bonds authorized under this Act.      
   Effective immediately.                                                      
          STATE DEBT NOTE (Economic and Fiscal Commission)                     
          SB 1203 would reduce by $1 the total amount of General Obliga-       
          tion bonds authorized.                                               
          STATE DEBT NOTE (Economic and Fiscal Commission)                     
          Same as previous note.                                               
        HOUSE AMENDMENT NO. 1.  (House recedes May 27, 1999)                   
        Further amends the General Obligation Bond Act.  Decreases by  $2      
   the total amount of General Obligation Bonds authorized under the Act.      
        CONFERENCE COMMITTEE REPORT NO. 1.                                     
        Recommends that the House recede from H-am 1.                          
        Recommends that the bill be amended as follows:                        
          Adds reference to:                                                   
          30 ILCS 105/8.40 new                                                 
          30 ILCS 330/3                   from Ch. 127, par. 653               
          30 ILCS 330/4                   from Ch. 127, par. 654               
          30 ILCS 330/5                   from Ch. 127, par. 655               
          30 ILCS 330/6                   from Ch. 127, par. 656               
          30 ILCS 330/9                   from Ch. 127, par. 659               
          30 ILCS 330/11                  from Ch. 127, par. 661               
          30 ILCS 330/16                  from Ch. 127, par. 666               
          30 ILCS 425/2                   from Ch. 127, par. 2802              
          30 ILCS 425/4                   from Ch. 127, par. 2804              
        Deletes everything.  Amends  the  General  Obligation  Bond  Act.      
   Increases bond authorization for various capital facilities, including      
   open  land;  transportation;  school construction; anti-pollution; and      
   refunding bonds.  Changes provisions concerning bond sales, bond  sale      
   orders,  publication  requirements,  and refunding bonds.   Amends the      
   Build Illinois Bond Act to increase the total bond  authorization  and      
   the  amounts  that  may  be used for public infrastructure and certain      
   educational and environmental purposes.  Amends the State Finance Act.      
   Prohibits certain persons and entities associated with the  Governor's      
   Infrastructure  Task  Force  from  receiving  any  legal,  banking, or      
   consulting fees relating to the issuance of bonds or  other  financing      
   arrangements arising from reports or recommendations made by that Task      
   Force.  Makes other changes.  Effective immediately.                        
Last action on Bill: PUBLIC ACT.............................. 91-0039

   Last action date: 99-06-15

           Location: Senate

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   1     SENATE -   0


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