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1
HOUSE JOINT RESOLUTION

 
2    WHEREAS, Local units of government, including school
3districts, often rely on the sale of bonds to finance local
4public works projects; and
 
5    WHEREAS, It is pertinent that the General Assembly review
6the existing bond sale processes of units of local government,
7including school districts, in an effort to remove potential
8conflicts of interest; therefore, be it
 
9    RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE ONE
10HUNDRED FIRST GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, THE
11SENATE CONCURRING HEREIN, that the Local Government Bond Reform
12Task Force is created; and be it further
 
13    RESOLVED, That the Task Force shall review and analyze the
14current processes that units of local governments, including
15school districts, use to propose, invest in, and sell bonds,
16including any potential conflicts of interest; and be it
17further
 
18    RESOLVED, That the Task Force shall consist of the
19following members, who shall serve without compensation:
20        (1) One member from the majority party of the House of
21    Representatives appointed by the Speaker of the House of

 

 

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1    Representatives;
2        (2) One member from the minority party of the House of
3    Representatives appointed by the Minority Leader of the
4    House of Representatives;
5        (3) One member from the majority party of the Senate
6    appointed by the President of the Senate;
7        (4) One member from the minority party of the Senate
8    appointed by the Minority Leader of the Senate;
9        (5) The Director of the Department of Revenue or his or
10    her designee;
11        (6) The State Superintendent of Education or his or her
12    designee;
13        (7) One member who represents an organization
14    representing counties appointed by the Governor;
15        (8) One member who represents an organization
16    representing municipalities appointed by the Governor;
17        (9) One member who represents an organization
18    representing townships appointed by the Governor;
19        (10) One member who represents an organization
20    representing park districts appointed by the Governor;
21        (11) One member who represents an organization
22    representing school board members appointed by the
23    Governor;
24        (12) One member who represents an organization
25    representing school superintendents appointed by the
26    Governor;

 

 

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1        (13) One member who represents an organization
2    representing school business officials appointed by the
3    Governor; and
4        (14) One member who represents an organization which
5    serves as advocates for taxpayers and businesses appointed
6    by the Governor;
7        (15) One member who represents the bond industry
8    appointed by the Governor; and be it further
 
9    RESOLVED, That members of the Task Force shall be appointed
10within 30 days after approval of this resolution; and be it
11further
 
12    RESOLVED, That the Task Force shall hold its first meeting
13as soon as possible at the call of the Director of the Illinois
14Department of Revenue; at its first meeting, a Chairperson and
15a Vice Chairperson shall be appointed from among the members of
16the Task Force; following the first meeting, the Chairperson
17shall have the authority to call subsequent meetings; and be it
18further
 
19    RESOLVED, That the Illinois Department of Revenue shall
20provide administrative support for the Task Force; and be it
21further
 
22    RESOLVED, That the Task Force shall issue a final report to

 

 

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1the General Assembly by January 1, 2021 that shall include
2recommendations to reform the bond process to remove any
3potential conflicts of interest and, upon the filing of its
4report, is dissolved; and be it further
 
5    RESOLVED, That a suitable copy of this resolution be
6delivered to Governor Pritzker and the Director of the Illinois
7Department of Revenue.