Bill Status of SB0667 100th General Assembly
Short Description: CDB-FEDERAL FUNDS
Sen. Iris Y. Martinez - Dale A. Righter - John G. Mulroe - Thomas Cullerton
(Rep. Anthony DeLuca - Randy E. Frese - Jerry Costello, II)
| 1/9/2019||Senate||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the General Obligation Bond Act. Provides that the unused portion of federal funds received for or as reimbursement for a capital facilities project (currently, the unused portion of federal funds received for a capital facilities project) shall remain in the Capital Development Board Contributory Trust Fund. Removes a provision providing that any federal funds received as reimbursement for the completed construction of a capital facilities project shall be deposited in the General Obligation Bond Retirement and Interest Fund. Amends the Capital Development Bond Act of 1972. Makes similar changes with respect to capital improvement projects. Effective immediately.