Illinois General Assembly - Bill Status for SB1601
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 Bill Status of SB1601  93rd General Assembly

Short Description:  BONDS & DEBT-TECH

Senate Sponsors
Sen. John J. Cullerton - Emil Jones, Jr. - Don Harmon

House Sponsors
(Rep. Gary Hannig)

Last Action
DateChamber Action
  6/3/2003SenatePublic Act . . . . . . . . . 93-0009

Statutes Amended In Order of Appearance
30 ILCS 330/10from Ch. 127, par. 660


Synopsis As Introduced
Amends the General Obligation Bond Act. Makes a technical change in a Section concerning execution of bonds.

Senate Floor Amendment No. 2
Deletes reference to:
30 ILCS 330/10
Adds reference to:
30 ILCS 305/7from Ch. 17, par. 6607
50 ILCS 410/2from Ch. 85, par. 4302
50 ILCS 410/3from Ch. 85, par. 4303

Deletes everything. Amends the Bond Authorization Act and the Local Government Credit Enhancement Act. Contains provisions allowing certain governmental units to enter into certain agreements to engage in "swap" agreements with respect to all or part of any currently outstanding or proposed bonds. Makes other changes.

House Floor Amendment No. 1
Adds reference to:
30 ILCS 105/6z-45
30 ILCS 330/9from Ch. 127, par. 659
30 ILCS 330/14from Ch. 127, par. 664
30 ILCS 330/15from Ch. 127, par. 665

Amends the State Finance Act and further amends the General Obligation Bond Act. With respect to the issuance of general obligation bonds, authorizes variable interest rates and certain credit or liquidity enhancement arrangements, including interest rate protection or exchange agreements and guarantees. Provides that the net payments required of the State for such arrangements shall be certified by the Director of the Bureau of the Budget and treated as interest. Effective immediately.

Actions 
DateChamber Action
  2/20/2003SenateFiled with Secretary by Sen. Ira I. Silverstein
  2/20/2003SenateChief Co-Sponsor Sen. Emil Jones, Jr.
  2/20/2003SenateFirst Reading
  2/20/2003SenateReferred to Rules
  3/5/2003SenateAssigned to Executive
  3/10/2003SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. John J. Cullerton
  3/10/2003SenateSenate Committee Amendment No. 1 Referred to Rules
  3/13/2003SenateDo Pass Executive; 008-005-000
  3/13/2003SenatePlaced on Calendar Order of 2nd Reading March 18, 2003
  3/18/2003SenateSenate Floor Amendment No. 2 Filed with Secretary by Sen. John J. Cullerton
  3/18/2003SenateSenate Floor Amendment No. 2 Referred to Rules
  3/21/2003SenateSecond Reading
  3/21/2003SenatePlaced on Calendar Order of 3rd Reading March 24, 2003
  3/24/2003SenateSenate Floor Amendment No. 2 Rules Refers to Executive
  3/24/2003SenateChief Sponsor Changed to Sen. John J. Cullerton
  3/25/2003SenateSenate Floor Amendment No. 2 Be Adopted Executive; 008-000-003
  3/25/2003SenateRecalled to Second Reading
  3/25/2003SenateSenate Floor Amendment No. 2 Adopted; Cullerton
  3/25/2003SenatePlaced on Calendar Order of 3rd Reading March 26, 2003
  3/26/2003SenateVerified
  3/26/2003SenateThird Reading - Passed; 031-023-004
  3/26/2003SenateSenate Committee Amendment No. 1 Tabled Pursuant to Rule 5-4(a)
  3/26/2003HouseArrived in House
  3/26/2003HousePlaced on Calendar Order of First Reading
  3/26/2003HouseChief House Sponsor Rep. Gary Hannig
  3/26/2003HouseFirst Reading
  3/26/2003HouseReferred to Rules Committee
  3/31/2003HouseAssigned to Executive Committee
  4/15/2003HouseRe-assigned to Local Government Committee
  5/1/2003HouseDo Pass / Short Debate Local Government Committee; 015-003-000
  5/1/2003HousePlaced on Calendar 2nd Reading - Short Debate
  5/16/2003HouseCommittee/3rd Reading Deadline Extended-Rule 9(b); May 23, 2003
  5/23/2003HouseThird Reading/Final Action Deadline Extended-9(b) May 31, 2003
  5/28/2003HouseSecond Reading - Short Debate
  5/28/2003HousePlaced on Calendar Order of 3rd Reading - Short Debate
  5/29/2003HouseRecalled to Second Reading - Short Debate
  5/29/2003HouseHeld on Calendar Order of Second Reading - Short Debate
  5/29/2003HouseHouse Floor Amendment No. 1 Filed with Clerk by Rep. Dan Reitz
  5/29/2003HouseHouse Floor Amendment No. 1 Referred to Rules Committee
  5/29/2003HouseHouse Floor Amendment No. 2 Filed with Clerk by Rep. Gary Hannig
  5/29/2003HouseHouse Floor Amendment No. 2 Referred to Rules Committee
  5/30/2003HouseHouse Floor Amendment No. 1 Rules Refers to State Government Administration Committee
  5/31/2003HouseHouse Floor Amendment No. 1 Recommends Be Adopted State Government Administration Committee; 010-000-000
  5/31/2003HouseHouse Floor Amendment No. 1 Adopted by Voice Vote
  5/31/2003HousePlaced on Calendar Order of 3rd Reading - Short Debate
  5/31/2003HouseHouse Floor Amendment No. 2 Tabled Pursuant to Rule 40(a)
  5/31/2003HouseThird Reading - Short Debate - Passed 102-013-000
  5/31/2003SenateAdded as Chief Co-Sponsor Sen. Don Harmon
  5/31/2003SenateSecretary's Desk - Concurrence House Amendment(s) 01
  5/31/2003SenatePlaced on Calendar Order of Concurrence House Amendment(s) 01 - May 31, 2003
  5/31/2003SenateHouse Floor Amendment No. 1 Motion to Concur Filed with Secretary Sen. John J. Cullerton
  5/31/2003SenateHouse Floor Amendment No. 1 Motion to Concur Referred to Rules
  5/31/2003SenateHouse Floor Amendment No. 1 Motion to Concur Be Approved for Consideration Rules
  5/31/2003SenateHouse Floor Amendment No. 1 Senate Concurs 048-009-001
  5/31/2003SenatePassed Both Houses
  6/3/2003SenateSent to the Governor
  6/3/2003SenateGovernor Approved
  6/3/2003SenateEffective Date June 3, 2003
  6/3/2003SenatePublic Act . . . . . . . . . 93-0009

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