90th General Assembly
Summary of HB0108
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Short description: 
GO BOND ACT-REDUCTION                                                      

Synopsis of Bill as introduced:
        Amends the General Obligation Bond Act  by  reducing  by  $1  the      
   total  amount  of  General Obligation Bonds authorized under this Act.      
   Effective immediately.                                                      
          STATE DEBT IMPACT NOTE                                               
          HB108 decreases the State's authority to issue, sell and retire      
          General Obligation Bonds by $1.                                      
          FISCAL NOTE (Bureau of Budget)                                       
          HB 108 will not increase or decrease state expenditures or re-       
        SENATE AMENDMENT NO. 1. (Senate recedes November 14, 1997)             
        Deletes effective date.                                                
        CONFERENCE COMMITTEE REPORT NO. 1.                                     
        Recommends that the Senate recede from S-am 1.                         
          Adds reference to:                                                   
          30 ILCS 330/3                                                        
          30 ILCS 330/5                                                        
          30 ILCS 330/7                                                        
          30 ILCS 330/12                                                       
        Changes the title and replaces everything after the enacting           
   clause. Amends P.A. 90-8 to add an immediate effective date. Increases      
   the State's General Obligation Bond authority by $1,362,200,00, allo-       
   cating $259,000,000 of that additional authorization for acquisition,       
   and improvement or construction of capital facilities within the State      
   including for educational purposes at public post-secondary institu-        
   tions, prisons and correctional centers' recreational and conservation      
   purposes, child care and mental and public health facilities, disabled      
   veterans and spouses facilities, and use by the State and its several       
   departments, agencies and subdivisions.  Allocates an additional            
   $3,200,000 of that authority for use by DCCA for coal and energy re-        
   search, development and energy  demonstration purposes. Authorizes the      
   Illinois EPA to make deposits into the U.S. Environmental Protection        
   Fund and the Water Revolving Fund (instead of the Water Pollution Con-      
   trol Revolving Fund) from its existing allocation of General Obliga-        
   tion Bond moneys. Allocates the remaining $1,100,000,000 of the addi-       
   tional bonding authority for grants to school districts for school im-      
   provement projects authorized by the School Construction Law, estab-        
   lishes a 5-year schedule for the sale of the bonds, and provides for        
   the deposit of the proceeds from the sale of those bonds into the           
   School Infrastructure Fund. Effective immediately.                          
Last action on Bill: PUBLIC ACT.............................. 90-0549

   Last action date: 97-12-08

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   1


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