Bill Status of SJRCA0071  94th General Assembly

Short Description:  REVENUE DEBT SERVICE

Senate Sponsors
Sen. Christine Radogno

Last Action
DateChamber Action
  1/9/2007SenateSession Sine Die
ILCON Art. IX, Sec. 9.1 new 

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.

DateChamber Action
  1/31/2006SenateFiled with Secretary
  1/31/2006SenateReferred to Rules
  1/9/2007SenateSession Sine Die