COUNTIES CD-BORROWING MONEY Senate SponsorsSen. Dave Syverson and Christine J. Johnson House Sponsors(Rep. Michael J. Madigan-Charles E. Jefferson) 1/8/2013SenateSession Sine Die 55 ILCS 5/5-1134 newAmends the Counties Code. Provides that the county board of a county may borrow money for county purposes from one fund for the use of another fund, as long as it is repaid within the current fiscal year. Provides that the county board of a county may borrow money from any bank or financial institution, provided that the money shall be repaid within 10 years from the time the money is borrowed. Sets forth requirements concerning the documentation of the loan. Prohibits the indebtedness incurred, when aggregated with the existing indebtedness of the county, from exceeding the debt limitation otherwise provided for by law. Defines "financial institution". Effective immediately.Senate Floor Amendment No. 1 Removes a provision from the introduced bill that authorizes the county board of a county to borrow money for county purposes from one fund for the use of another fund, as long as it is repaid within the current fiscal year.Senate Floor Amendment No. 2 Further amends the Counties Code. In a Section authorizing a county board to borrow money for county purposes, provides that the definition of "financial institution" includes any savings bank subject to the Savings Bank Act, any credit union subject to the Illinois Credit Union Act, and any federally chartered commercial bank, savings and loan association, savings bank, or credit union.Senate Floor Amendment No. 3 Further amends the Counties Code. Provides that any money borrowed by a county board from a bank or financial institution must be repaid within 2 years from the time the money is borrowed, rather than 10 years. Further provides that certain provisions concerning borrowing from financial institutions shall not be construed to grant any additional authority to a county to borrow money or to remove any referendum approval required of a county to borrow money. 2/1/2012SenateFiled with Secretary by Sen. Dave Syverson 2/1/2012SenateFirst Reading 2/1/2012SenateReferred to Assignments 2/22/2012SenateAssigned to Local Government 2/29/2012SenateDo Pass Local Government; 006-000-000 2/29/2012SenatePlaced on Calendar Order of 2nd Reading March 1, 2012 3/1/2012SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. Dave Syverson 3/1/2012SenateSenate Floor Amendment No. 1 Referred to Assignments 3/1/2012SenateSenate Floor Amendment No. 2 Filed with Secretary by Sen. Dave Syverson 3/1/2012SenateSenate Floor Amendment No. 2 Referred to Assignments 3/6/2012SenateSenate Floor Amendment No. 1 Assignments Refers to Local Government 3/6/2012SenateSenate Floor Amendment No. 2 Assignments Refers to Local Government 3/26/2012SenateSenate Floor Amendment No. 3 Filed with Secretary by Sen. Dave Syverson 3/26/2012SenateSenate Floor Amendment No. 3 Referred to Assignments 3/27/2012SenateSenate Floor Amendment No. 1 Recommend Do Adopt Local Government; 006-000-000 3/27/2012SenateSenate Floor Amendment No. 2 Recommend Do Adopt Local Government; 006-000-000 3/27/2012SenateSenate Floor Amendment No. 3 Assignments Refers to Local Government 3/27/2012SenateSecond Reading 3/27/2012SenateSenate Floor Amendment No. 1 Adopted; Syverson 3/27/2012SenateSenate Floor Amendment No. 2 Adopted; Syverson 3/27/2012SenatePlaced on Calendar Order of 3rd Reading March 28, 2012 3/28/2012SenateSenate Floor Amendment No. 3 Recommend Do Adopt Local Government; 007-000-000 3/28/2012SenateRecalled to Second Reading 3/28/2012SenateSenate Floor Amendment No. 3 Adopted; Syverson 3/28/2012SenatePlaced on Calendar Order of 3rd Reading 3/28/2012SenateThird Reading - Passed; 052-000-000 3/28/2012HouseArrived in House 3/28/2012HouseChief House Sponsor Rep. Dave Winters 3/28/2012HousePlaced on Calendar Order of First Reading 3/28/2012HouseFirst Reading 3/28/2012HouseReferred to Rules Committee 5/1/2012SenateAdded as Co-Sponsor Sen. Christine J. Johnson 8/17/2012HouseAlternate Chief Sponsor Changed to Rep. Charles E. Jefferson 11/8/2012HouseAlternate Chief Sponsor Changed to Rep. Michael J. Madigan 11/8/2012HouseAdded Alternate Chief Co-Sponsor Rep. Charles E. Jefferson 11/9/2012HouseFinal Action Deadline Extended-9(b) January 8, 2013 11/9/2012HouseAssigned to Revenue & Finance Committee 11/21/2012HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Michael J. Madigan 11/21/2012HouseHouse Committee Amendment No. 1 Referred to Rules Committee 12/3/2012HouseHouse Committee Amendment No. 2 Filed with Clerk by Rep. Michael J. Madigan 12/3/2012HouseHouse Committee Amendment No. 2 Referred to Rules Committee 12/21/2012HouseHouse Committee Amendment No. 2 Rules Refers to Revenue & Finance Committee 1/8/2013SenateSession Sine Die