Rep. Luis Arroyo

Filed: 5/29/2014

 

 


 

 


 
09800SB3224ham001LRB098 19559 AMC 60445 a

1
AMENDMENT TO SENATE BILL 3224

2    AMENDMENT NO. ______. Amend Senate Bill 3224 by replacing
3everything after the enacting clause with the following:
 
4    "Section 5. The General Obligation Bond Act is amended by
5changing Sections 2, 4, and 7 as follows:
 
6    (30 ILCS 330/2)  (from Ch. 127, par. 652)
7    Sec. 2. Authorization for Bonds. The State of Illinois is
8authorized to issue, sell and provide for the retirement of
9General Obligation Bonds of the State of Illinois for the
10categories and specific purposes expressed in Sections 2
11through 8 of this Act, in the total amount of $49,917,925,743
12$49,317,925,743.
13    The bonds authorized in this Section 2 and in Section 16 of
14this Act are herein called "Bonds".
15    Of the total amount of Bonds authorized in this Act, up to
16$2,200,000,000 in aggregate original principal amount may be

 

 

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1issued and sold in accordance with the Baccalaureate Savings
2Act in the form of General Obligation College Savings Bonds.
3    Of the total amount of Bonds authorized in this Act, up to
4$300,000,000 in aggregate original principal amount may be
5issued and sold in accordance with the Retirement Savings Act
6in the form of General Obligation Retirement Savings Bonds.
7    Of the total amount of Bonds authorized in this Act, the
8additional $10,000,000,000 authorized by Public Act 93-2, the
9$3,466,000,000 authorized by Public Act 96-43, and the
10$4,096,348,300 authorized by Public Act 96-1497 shall be used
11solely as provided in Section 7.2.
12    The issuance and sale of Bonds pursuant to the General
13Obligation Bond Act is an economical and efficient method of
14financing the long-term capital needs of the State. This Act
15will permit the issuance of a multi-purpose General Obligation
16Bond with uniform terms and features. This will not only lower
17the cost of registration but also reduce the overall cost of
18issuing debt by improving the marketability of Illinois General
19Obligation Bonds.
20(Source: P.A. 97-333, eff. 8-12-11; 97-771, eff. 7-10-12;
2197-813, eff. 7-13-12; 98-94, eff. 7-17-13; 98-463, eff.
228-16-13.)
 
23    (30 ILCS 330/4)  (from Ch. 127, par. 654)
24    Sec. 4. Transportation. The amount of $15,948,199,000
25$14,848,199,000 is authorized for use by the Department of

 

 

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1Transportation for the specific purpose of promoting and
2assuring rapid, efficient, and safe highway, air and mass
3transportation for the inhabitants of the State by providing
4monies, including the making of grants and loans, for the
5acquisition, construction, reconstruction, extension and
6improvement of the following transportation facilities and
7equipment, and for the acquisition of real property and
8interests in real property required or expected to be required
9in connection therewith as follows:
10    (a) $5,432,129,000 for State highways, arterial highways,
11freeways, roads, bridges, structures separating highways and
12railroads and roads, and bridges on roads maintained by
13counties, municipalities, townships or road districts for the
14following specific purposes:
15        (1) $3,330,000,000 for use statewide,
16        (2) $3,677,000 for use outside the Chicago urbanized
17    area,
18        (3) $7,543,000 for use within the Chicago urbanized
19    area,
20        (4) $13,060,600 for use within the City of Chicago,
21        (5) $58,987,500 for use within the counties of Cook,
22    DuPage, Kane, Lake, McHenry and Will,
23        (6) $18,860,900 for use outside the counties of Cook,
24    DuPage, Kane, Lake, McHenry and Will, and
25        (7) $2,000,000,000 for use on projects included in
26    either (i) the FY09-14 Proposed Highway Improvement

 

 

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1    Program as published by the Illinois Department of
2    Transportation in May 2008 or (ii) the FY10-15 Proposed
3    Highway Improvement Program to be published by the Illinois
4    Department of Transportation in the spring of 2009; except
5    that all projects must be maintenance projects for the
6    existing State system with the goal of reaching 90%
7    acceptable condition in the system statewide and further
8    except that all projects must reflect the generally
9    accepted historical distribution of projects throughout
10    the State.
11    (b) $5,379,670,000 for rail facilities and for mass transit
12facilities, as defined in Section 2705-305 of the Department of
13Transportation Law (20 ILCS 2705/2705-305), including rapid
14transit, rail, bus and other equipment used in connection
15therewith by the State or any unit of local government, special
16transportation district, municipal corporation or other
17corporation or public authority authorized to provide and
18promote public transportation within the State or two or more
19of the foregoing jointly, for the following specific purposes:
20        (1) $4,283,870,000 statewide,
21        (2) $83,350,000 for use within the counties of Cook,
22    DuPage, Kane, Lake, McHenry and Will,
23        (3) $12,450,000 for use outside the counties of Cook,
24    DuPage, Kane, Lake, McHenry and Will, and
25        (4) $1,000,000,000 for use on projects that shall
26    reflect the generally accepted historical distribution of

 

 

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1    projects throughout the State.
2    (c) $482,600,000 for airport or aviation facilities and any
3equipment used in connection therewith, including engineering
4and land acquisition costs, by the State or any unit of local
5government, special transportation district, municipal
6corporation or other corporation or public authority
7authorized to provide public transportation within the State,
8or two or more of the foregoing acting jointly, and for the
9making of deposits into the Airport Land Loan Revolving Fund
10for loans to public airport owners pursuant to the Illinois
11Aeronautics Act.
12    (d) $4,653,800,000 $3,553,800,000 for use statewide for
13State or local highways, arterial highways, freeways, roads,
14bridges, and structures separating highways and railroads and
15roads, and for grants to counties, municipalities, townships,
16or road districts for planning, engineering, acquisition,
17construction, reconstruction, development, improvement,
18extension, and all construction-related expenses of the public
19infrastructure and other transportation improvement projects
20which are related to economic development in the State of
21Illinois.
22(Source: P.A. 97-771, eff. 7-10-12; 98-94, eff. 7-17-13.)
 
23    (30 ILCS 330/7)  (from Ch. 127, par. 657)
24    Sec. 7. Coal and Energy Development. The amount of
25$242,700,000 $742,700,000 is authorized to be used by the

 

 

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1Department of Commerce and Economic Opportunity (formerly
2Department of Commerce and Community Affairs) for coal and
3energy development purposes, pursuant to Sections 2, 3 and 3.1
4of the Illinois Coal and Energy Development Bond Act, for the
5purposes specified in Section 8.1 of the Energy Conservation
6and Coal Development Act, for the purposes specified in Section
7605-332 of the Department of Commerce and Economic Opportunity
8Law of the Civil Administrative Code of Illinois, and for the
9purpose of facility cost reports prepared pursuant to Sections
101-58 or 1-75(d)(4) of the Illinois Power Agency Act and for the
11purpose of development costs pursuant to Section 8.1 of the
12Energy Conservation and Coal Development Act. Of this amount:
13    (a) $143,500,000 is for the specific purposes of
14acquisition, development, construction, reconstruction,
15improvement, financing, architectural and technical planning
16and installation of capital facilities consisting of
17buildings, structures, durable equipment, and land for the
18purpose of capital development of coal resources within the
19State and for the purposes specified in Section 8.1 of the
20Energy Conservation and Coal Development Act;
21    (b) $35,000,000 is for the purposes specified in Section
228.1 of the Energy Conservation and Coal Development Act and
23making grants to generating stations and coal gasification
24facilities within the State of Illinois and to the owner of a
25generating station located in Illinois and having at least
26three coal-fired generating units with accredited summer

 

 

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1capability greater than 500 megawatts each at such generating
2station as provided in Section 6 of that Bond Act;
3    (c) $13,200,000 is for research, development and
4demonstration of forms of energy other than that derived from
5coal, either on or off State property;
6    (d) $0 $500,000,000 is for the purpose of providing
7financial assistance to new electric generating facilities as
8provided in Section 605-332 of the Department of Commerce and
9Economic Opportunity Law of the Civil Administrative Code of
10Illinois; and
11    (e) $51,000,000 is for the purpose of facility cost reports
12prepared for not more than one facility pursuant to Section
131-75(d)(4) of the Illinois Power Agency Act and not more than
14one facility pursuant to Section 1-58 of the Illinois Power
15Agency Act and for the purpose of up to $6,000,000 of
16development costs pursuant to Section 8.1 of the Energy
17Conservation and Coal Development Act.
18(Source: P.A. 98-94, eff. 7-17-13.)
 
19    Section 99. Effective date. This Act takes effect upon
20becoming law.".