Illinois General Assembly - Bill Status for HJRCA0026

Synopsis As Introduced
Proposes to amend the Revenue Article of the Illinois Constitution. Prohibits the State from issuing general obligation bonds or other indebtedness secured by the full faith and credit of the State if, in the next fiscal year, the resulting amount of debt service on all outstanding bonds would exceed 7% of that fiscal year's aggregate appropriations of (i) general funds and (ii) specific vehicle or fuel related revenues. Permits the issuance of bonds that would otherwise violate the prohibition if the State Comptroller and State Treasurer consent in writing. Effective upon being declared adopted.

Actions

Date	Chamber	Action
1/19/2006	House	Filed with the Clerk by Rep. Jim Watson
1/19/2006	House	Read in Full a First Time
1/19/2006	House	Referred to Rules Committee
2/14/2006	House	Added Chief Co-Sponsor Rep. Terry R. Parke
5/6/2006	House	Tabled Pursuant to Rule 46

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