GO BOND ACT-REDUCTION-TECH Senate SponsorsSen. Ira I. Silverstein-Emil Jones, Jr. House Sponsors(Rep. Michael J. Madigan) 1/11/2005SenateSession Sine Die 30 ILCS 330/2.1 newAmends the General Obligation Bond Act by reducing by $1 the total amount of General Obligation Bonds authorized under that Act. Effective July 1, 2003.State Debt Impact Note (Economic and Fiscal Commission) Senate Bill 1605, as amended by House Amendment 1, would not affect the bonding authorization of the State, and, therefore, has no direct impact on the level of State indebtedness. The bill would restrict the use of General Obligation and Build Illinois bonding for long term capital needs only, would require competitive bidding for most bond sales and minimum savings from refunding bonds. This legislation would set limits on State debt, the maturity of bonds, and create greater transparency through disclosure of bond deals, from the Governor's Office of Management and Budget. 2/20/2003SenateFiled with Secretary by Sen. Ira I. Silverstein 2/20/2003SenateChief Co-Sponsor Sen. Emil Jones, Jr. 2/20/2003SenateFirst Reading 2/20/2003SenateReferred to Rules 2/26/2003SenateAssigned to Executive 3/6/2003SenatePostponed - Executive 3/13/2003SenateDo Pass Executive; 008-005-000 3/13/2003SenatePlaced on Calendar Order of 2nd Reading March 18, 2003 3/21/2003SenateSecond Reading 3/21/2003SenatePlaced on Calendar Order of 3rd Reading ** March 24, 2003 3/27/2003SenateVerified 3/27/2003SenateThird Reading - Passed; 032-016-002 3/27/2003HouseArrived in House 3/27/2003HousePlaced on Calendar Order of First Reading 3/27/2003HouseChief House Sponsor Rep. Michael J. Madigan 3/27/2003HouseFirst Reading 3/27/2003HouseReferred to Rules Committee 3/31/2003HouseAssigned to Executive Committee 5/2/2003HouseRule 19(a) / Re-referred to Rules Committee 5/14/2003HouseAssigned to Executive Committee 5/14/2003HouseCommittee/3rd Reading Deadline Extended-Rule 9(b); May 31, 2003 5/29/2003HouseDo Pass / Standard Debate Executive Committee; 007-005-000 5/29/2003HousePlaced on Calendar 2nd Reading - Standard Debate ** 5/29/2003HouseSecond Reading - Standard Debate 5/29/2003HouseHeld on Calendar Order of Second Reading - Standard Debate 6/1/2003HouseRule 19(a) / Re-referred to Rules Committee 5/17/2004HouseCommittee/3rd Reading Deadline Extended-Rule 9(b) May 31, 2004 5/17/2004HouseApproved for Consideration Rules Committee; 005-000-000 5/17/2004HousePlaced on Calendar 2nd Reading - Standard Debate 5/19/2004HouseHouse Amendment No. 1 Filed with Clerk by Rep. Michael J. Madigan 5/19/2004HouseHouse Amendment No. 1 Referred to Rules Committee 5/19/2004HouseHouse Amendment No. 1 Rules Refers to State Government Administration Committee 5/20/2004HouseHouse Amendment No. 1 Recommends Be Adopted State Government Administration Committee; 011-000-000 5/28/2004HouseState Debt Impact Note Filed As Amended by HA 1 5/31/2004HouseFinal Action Deadline Extended-9(b) June 30, 2004 6/30/2004HouseFinal Action Deadline Extended-9(b) July 15, 2004 7/15/2004HouseFinal Action Deadline Extended-9(b) JULY 31, 2004 7/31/2004HouseRule 19(a) / Re-referred to Rules Committee 1/11/2005SenateSession Sine Die