Bill Status of SB 2299   94th General Assembly

Short Description:  OSLAD-REV BONDS-GRANTS

Senate Sponsors
Sen. Don Harmon

Last Action  View All Actions

DateChamber Action
  1/12/2006SenateReferred to Rules

Statutes Amended In Order of Appearance
New Act
35 ILCS 200/31-35
525 ILCS 30/7.05a new
525 ILCS 35/3from Ch. 85, par. 2103
525 ILCS 35/8 new
525 ILCS 35/9.1 new
525 ILCS 35/11from Ch. 85, par. 2111
525 ILCS 35/13from Ch. 85, par. 2113
525 ILCS 35/14from Ch. 85, par. 2114
525 ILCS 35/15 new
525 ILCS 35/15.5 new

Synopsis As Introduced
Creates the Open Space Financing Act. Authorizes the Department of Natural Resources to issue revenue bonds secured by real estate transfer tax receipts collected and deposited into the Open Space Bond Repayment Fund and the Natural Areas Bond Repayment Fund. Sets forth procedures for issuing the bonds and distributing the bond proceeds. Amends the Property Tax Code. Provides that beginning July 1, 2006 (now, July 1, 2003) of the moneys collected under the Real Estate Transfer Tax Law, 50% shall be deposited into the Illinois Affordable Housing Trust Fund, 35% shall be deposited into the OSLAD Fund, and 15% shall be deposited into the NAA Fund. Amends the Illinois Natural Areas Preservation Act. Provides that the Department of Natural Resources shall determine the manner and extent to which property under consideration for acquisition would assist in storm water management, water supply and quality assurance, or other infrastructure needs, but this determination shall not prevent the Department from acquiring property. Amends the Open Space Lands Acquisition and Development Act. Provides that grants for green infrastructure projects made before December 31, 2009 to units of local government may be conditioned upon the State providing assistance on a 60/40 matching basis. Sets forth additional requirements for grants for green infrastructure projects. Provides that, in considering applications for certain grants, the Department shall give scoring points to the applicants that demonstrate the greatest potential for improving water supply and quality or for reducing the capital, operating, or maintenance costs of meeting water-related infrastructure requirements. Creates the Open Space Bond Repayment Fund and the Natural Areas Bond Repayment Fund. Makes other changes. Effective immediately.

Actions 
DateChamber Action
  1/12/2006SenateFiled with Secretary by Sen. Don Harmon
  1/12/2006SenateFirst Reading
  1/12/2006SenateReferred to Rules

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