Illinois General Assembly - Bill Status for HB2823
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 Bill Status of HB2823  102nd General Assembly


Short Description:  RTA&CTA-NOTES & LINE OF CREDIT

House Sponsors
Rep. Michael J. Zalewski

Senate Sponsors
(Sen. Martin A. Sandoval - Donald P. DeWitte)

Last Action
DateChamber Action
  8/23/2019HousePublic Act . . . . . . . . . 101-0485

Statutes Amended In Order of Appearance
70 ILCS 3605/12afrom Ch. 111 2/3, par. 312a
70 ILCS 3615/4.04from Ch. 111 2/3, par. 704.04


Synopsis As Introduced
Amends the Metropolitan Transit Authority Act and Regional Transportation Authority Act. Establishes procedures for repayment of defaulted interim financing notes issued by the Chicago Transit Authority and defaulted working cash notes issued by the Regional Transportation Authority, in which State money in the State treasury was invested. Provides that the Regional Transportation Authority may issue, sell, and deliver additional working cash notes and establish lines of credit (rather than only working cash notes) before July 1, 2022 (rather than July 1, 2018) that are over and above and in addition to the $100,000,000 bond or note authorization. Establishes procedures for establishment of lines of credit. Requires notice to the Governor's Office of Management and Budget and State Comptroller before establishing a line of credit and provides that money borrowed under a line of credit are general obligations of the Authority that are secured by the full faith and credit of the Authority. Effective immediately.

Actions 
DateChamber Action
  2/14/2019HouseFiled with the Clerk by Rep. Michael J. Zalewski
  2/14/2019HouseFirst Reading
  2/14/2019HouseReferred to Rules Committee
  2/26/2019HouseAssigned to Revenue & Finance Committee
  3/6/2019HouseTo Sales, Amusement & Other Taxes Subcommittee
  3/19/2019HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Michael J. Zalewski
  3/19/2019HouseHouse Committee Amendment No. 1 Referred to Rules Committee
  3/21/2019HouseRecommends Do Pass Subcommittee/ Revenue & Finance Committee; 006-000-000
  3/21/2019HouseReported Back To Revenue & Finance Committee;
  3/21/2019HouseDo Pass / Short Debate Revenue & Finance Committee; 009-005-000
  3/21/2019HouseHouse Committee Amendment No. 1 Tabled Pursuant to Rule 40
  3/21/2019HousePlaced on Calendar 2nd Reading - Short Debate
  3/26/2019HouseSecond Reading - Short Debate
  3/26/2019HousePlaced on Calendar Order of 3rd Reading - Short Debate
  4/4/2019HouseThird Reading - Consideration Postponed
  4/4/2019HousePlaced on Calendar - Consideration Postponed
  4/9/2019HousePlaced on Calendar Order of 3rd Reading - Short Debate
  4/9/2019HouseThird Reading - Short Debate - Passed 062-049-001
  4/10/2019SenateArrive in Senate
  4/10/2019SenatePlaced on Calendar Order of First Reading
  4/10/2019SenateChief Senate Sponsor Sen. Martin A. Sandoval
  4/10/2019SenateFirst Reading
  4/10/2019SenateReferred to Assignments
  4/24/2019SenateAssigned to Transportation
  5/2/2019SenateDo Pass Transportation; 013-000-000
  5/2/2019SenatePlaced on Calendar Order of 2nd Reading May 7, 2019
  5/14/2019SenateAdded as Alternate Chief Co-Sponsor Sen. Donald P. DeWitte
  5/21/2019SenateSecond Reading
  5/21/2019SenatePlaced on Calendar Order of 3rd Reading May 22, 2019
  5/24/2019SenateRule 2-10 Third Reading Deadline Established As May 31, 2019
  5/30/2019SenateThird Reading - Passed; 046-008-000
  5/30/2019HousePassed Both Houses
  6/28/2019HouseSent to the Governor
  8/23/2019HouseGovernor Approved
  8/23/2019HouseEffective Date August 23, 2019
  8/23/2019HousePublic Act . . . . . . . . . 101-0485

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