Illinois General Assembly - Full Text of HB0289
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Full Text of HB0289  96th General Assembly

HB0289sam003 96TH GENERAL ASSEMBLY

Sen. Christine Radogno

Filed: 4/1/2009

 

 


 

 


 
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1
AMENDMENT TO HOUSE BILL 289

2     AMENDMENT NO. ______. Amend House Bill 289, AS AMENDED, by
3 replacing everything after the enacting clause with the
4 following:
 
5     "Section 5. If and only if House Bill 210 of the 96th
6 General Assembly becomes law, the General Obligation Bond Act
7 is amended by changing Sections 2 and 4 as follows:
 
8     (30 ILCS 330/2)  (from Ch. 127, par. 652)
9     Sec. 2. Authorization for Bonds. The State of Illinois is
10 authorized to issue, sell and provide for the retirement of
11 General Obligation Bonds of the State of Illinois for the
12 categories and specific purposes expressed in Sections 2
13 through 8 of this Act, in the total amount of $30,693,149,369
14 $27,693,149,369.
15     The bonds authorized in this Section 2 and in Section 16 of
16 this Act are herein called "Bonds".

 

 

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1     Of the total amount of Bonds authorized in this Act, up to
2 $2,200,000,000 in aggregate original principal amount may be
3 issued and sold in accordance with the Baccalaureate Savings
4 Act in the form of General Obligation College Savings Bonds.
5     Of the total amount of Bonds authorized in this Act, up to
6 $300,000,000 in aggregate original principal amount may be
7 issued and sold in accordance with the Retirement Savings Act
8 in the form of General Obligation Retirement Savings Bonds.
9     Of the total amount of Bonds authorized in this Act, the
10 additional $10,000,000,000 authorized by this amendatory Act
11 of the 93rd General Assembly shall be used solely as provided
12 in Section 7.2.
13     The issuance and sale of Bonds pursuant to the General
14 Obligation Bond Act is an economical and efficient method of
15 financing the long-term capital needs of the State. This Act
16 will permit the issuance of a multi-purpose General Obligation
17 Bond with uniform terms and features. This will not only lower
18 the cost of registration but also reduce the overall cost of
19 issuing debt by improving the marketability of Illinois General
20 Obligation Bonds.
21 (Source: P.A. 95-1026, eff. 1-12-09.)
 
22     (30 ILCS 330/4)  (from Ch. 127, par. 654)
23     Sec. 4. Transportation. The amount of $8,313,399,000
24 $5,313,399,000 is authorized for use by the Department of
25 Transportation for the specific purpose of promoting and

 

 

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1 assuring rapid, efficient, and safe highway, air and mass
2 transportation for the inhabitants of the State by providing
3 monies, including the making of grants and loans, for the
4 acquisition, construction, reconstruction, extension and
5 improvement of the following transportation facilities and
6 equipment, and for the acquisition of real property and
7 interests in real property required or expected to be required
8 in connection therewith as follows:
9     (a) $5,432,129,000 $3,432,129,000 for State highways,
10 arterial highways, freeways, roads, bridges, structures
11 separating highways and railroads and roads, and bridges on
12 roads maintained by counties, municipalities, townships or
13 road districts for the following specific purposes:
14         (1) $3,330,000,000 for use statewide,
15         (2) $3,677,000 for use outside the Chicago urbanized
16     area,
17         (3) $7,543,000 for use within the Chicago urbanized
18     area,
19         (4) $13,060,600 for use within the City of Chicago,
20         (5) $58,987,500 for use within the counties of Cook,
21     DuPage, Kane, Lake, McHenry and Will, and
22         (6) $18,860,900 for use outside the counties of Cook,
23     DuPage, Kane, Lake, McHenry and Will, and .
24         (7) $2,000,000,000 for use on projects included in the
25     FY09-14 Proposed Highway Improvement Program as published
26     by the Illinois Department of Transportation in May 2008;

 

 

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1     these projects shall reflect the generally accepted
2     historical distribution of projects throughout the State.
3     (b) $2,529,670,000 $1,529,670,000 for rail facilities and
4 for mass transit facilities, as defined in Section 2705-305 of
5 the Department of Transportation Law (20 ILCS 2705/2705-305),
6 including rapid transit, rail, bus and other equipment used in
7 connection therewith by the State or any unit of local
8 government, special transportation district, municipal
9 corporation or other corporation or public authority
10 authorized to provide and promote public transportation within
11 the State or two or more of the foregoing jointly, for the
12 following specific purposes:
13         (1) $1,433,870,000 statewide,
14         (2) $83,350,000 for use within the counties of Cook,
15     DuPage, Kane, Lake, McHenry and Will,
16         (3) $12,450,000 for use outside the counties of Cook,
17     DuPage, Kane, Lake, McHenry and Will, and .
18         (4) $1,000,000,000 for use on projects that shall
19     reflect the generally accepted historical distribution of
20     projects throughout the State.
21     (c) $351,600,000 for airport or aviation facilities and any
22 equipment used in connection therewith, including engineering
23 and land acquisition costs, by the State or any unit of local
24 government, special transportation district, municipal
25 corporation or other corporation or public authority
26 authorized to provide public transportation within the State,

 

 

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1 or two or more of the foregoing acting jointly, and for the
2 making of deposits into the Airport Land Loan Revolving Fund
3 for loans to public airport owners pursuant to the Illinois
4 Aeronautics Act.
5 (Source: P.A. 91-39, eff. 6-15-99; 91-239, eff. 1-1-00; 91-712,
6 eff. 7-1-00; 92-13, eff. 6-22-01.)
 
7     Section 99. Effective date. This Act takes effect upon
8 becoming law.".