Illinois General Assembly - Bill Status for HB1441
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 Bill Status of HB1441  94th General Assembly


Short Description:  PBLC BLDG COMMISSION ALT BONDS

House Sponsors
Rep. Mark H. Beaubien, Jr. - Rich Brauer

Last Action
DateChamber Action
  4/13/2005HouseTabled By Sponsor Rep. Mark H. Beaubien, Jr.

Statutes Amended In Order of Appearance
30 ILCS 350/3from Ch. 17, par. 6903
30 ILCS 350/15.01
35 ILCS 200/18-185
50 ILCS 20/3from Ch. 85, par. 1033
50 ILCS 20/18from Ch. 85, par. 1048
55 ILCS 5/5-1024from Ch. 34, par. 5-1024


Synopsis As Introduced
Amends the Local Government Debt Reform Act. Defines "revenue source" to include any public building commission (PBC) lease rental base alternate tax levy. Defines "limited bonds" to include PBC leases and excludes other leases. Defines "public building commission rental base" as an amount equal to that portion of the extension for a taxing district for the 1999 levy year constituting an extension for payment of lease rentals under a PBC lease allocable to the retirement of bonds issued by the commission. Defines "public building commission lease rental base alternate tax levy" as a special purpose levy available to a unit of local government and authorized for the payment of limited bonds as a revenue source, which shall equal the PBC lease rental base less the amount of that base allocable to the payment of lease rentals under a PBC lease. Provides that a governmental unit is authorized to issue limited bonds payable from the debt service extension base or the PBC lease rental base, or both (now, payable from the debt service extension base only). Amends the Property Tax Extension Limitation Law in the Property Code. With respect to limited bonds and double-barrelled bonds issued under the Local Government Debt Reform Act, exempts from the tax caps in the taxing districts to which the law applied before the 1995 levy year special purpose extensions made for payment of principal and interest on bonds issued concerning PBC leases. Amends the Public Building Commission Act. In provisions concerning tax levies for PBC lease rental payments, provides that the tax levied may relate to the amount necessary to pay the annual rent under the lease or the PBC lease rental base (now, related only to the amount necessary to pay the annual rent under the lease). Provides that taxes are not required to be levied or extended in excess of the allocated portion of a PBC lease rental base. Amends the Counties Code. Includes within the exception for taxes levied to pay annual rent payments due under a lease entered into by the county with a Public Building Commission, payments made from the PBC lease rental base. Excludes taxes levied allocable to the PBC lease rental base tax levy and taxes levied to pay principal of and interest on limited bonds. Effective immediately.

Actions 
DateChamber Action
  2/10/2005HouseFiled with the Clerk by Rep. Mark H. Beaubien, Jr.
  2/10/2005HouseChief Co-Sponsor Rep. Rich Brauer
  2/10/2005HouseFirst Reading
  2/10/2005HouseReferred to Rules Committee
  2/16/2005HouseAssigned to Executive Committee
  3/10/2005HouseRule 19(a) / Re-referred to Rules Committee
  4/12/2005HouseMotion Filed Rep. Mark H. Beaubien, Jr.; Table House Bill 1441 Pursuant to Rule 60(b)
  4/13/2005HouseMotion Prevailed
  4/13/2005HouseTabled By Sponsor Rep. Mark H. Beaubien, Jr.

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