91st General Assembly
Summary of HB4746
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House Sponsors:

Short description: 
GO BONDS-USE & OCC TAX-COAL                                                

Synopsis of Bill as introduced:
        Creates the  Illinois  Coal  Mining  and  Coal  Development  Act.      
   Creates  the  Illinois  Coal  Mining  and  Coal  Development Board and      
   authorizes the Board to provide advice  and  make  recommendations  on      
   certain  powers  and  duties  of the Illinois Environmental Protection      
   Agency with respect to coal-related matters.  Authorizes the State  to      
   issue  bonds  in  the  amount  of  $500,000,000  for  the  purposes of      
   architectural  and  technical  planning  and  installation  of  sulfur      
   dioxide and nitrogen oxide emission  control  systems  for  coal-fired      
   electric  generating  units.   Provides that the proceeds of the bonds      
   shall be deposited into a separate fund known as the Coal  Mining  and      
   Coal  Development Fund, and amends the State Finance Act to create the      
   Fund. Amends the General Obligation  Bond  Act.   Increases  the  bond      
   authorization  limit  by $500,000,000 for coal and energy development.      
   Deletes language in the General Obligation Bond Act and  the  Illinois      
   Coal  and  Energy  Development  Bond  Act  that directs DCCA to make a      
   $35,000,000 grant to a generating station to construct a  facility  to      
   reduce  sulfur  dioxide  emissions  at  a  coal-fired generating unit.      
   Amends the  Use  Tax  Act,  the  Service  Use  Tax  Act,  the  Service      
   Occupation  Tax  Act, and the Retailers' Occupation Tax Act.  Provides      
   that, beginning February 1, 2001, each month the Department of Revenue      
   shall pay into the General Obligation  Bond  Retirement  and  Interest      
   Fund  80% of the net revenue realized for the preceding month from the      
   selling price of coal until the Bureau of the Budget certifies to  the      
   Department  that  the  amount  that  will  be necessary to finance the      
   $500,000,000 in additional general obligation bonds authorized  to  be      
   issued under this amendatory Act of the 91st General Assembly for coal      
   development has been paid into that Fund. Effective January 1, 2001.        
Last action on Bill: SESSION SINE DIE

   Last action date: 01-01-09

           Location: House

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


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