Illinois General Assembly - Bill Status for SB2218
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 Bill Status of SB2218  100th General Assembly

Short Description:  INC TX-BONDS

Senate Sponsors
Sen. William E. Brady

Last Action
DateChamber Action
  1/9/2019SenateSession Sine Die

Statutes Amended In Order of Appearance
New Act
30 ILCS 105/5.878 new
30 ILCS 105/5.879 new
30 ILCS 105/6z-102 new
35 ILCS 5/901from Ch. 120, par. 9-901

Synopsis As Introduced
Creates the Individual Income Tax Bond Act. Authorizes the State to issue, sell, and provide for the retirement of limited obligation bonds in the total principal amount of $6,000,000,000. Provides that the proceeds of those bonds shall be issued for the purposes of providing financial relief to vendors who do business with the State. Amends the State Finance Act to create the Individual Income Tax Bond Proceeds Fund and the Individual Income Tax Bond Retirement and Interest Fund. Amends the Illinois Income Tax Act to provide for the transfer of certain income tax proceeds into the Individual Income Tax Bond Proceeds Fund. Effective immediately.

DateChamber Action
  6/15/2017SenateFiled with Secretary by Sen. William E. Brady
  6/15/2017SenateFirst Reading
  6/15/2017SenateReferred to Assignments
  1/9/2019SenateSession Sine Die

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