92nd General Assembly
Summary of HB0263
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House Sponsors:
NOVAK-SAVIANO-SCHOENBERG-ERWIN-BRUNSVOLD, KENNER AND PERSICO.

Senate Sponsors:
DILLARD-SMITH-DELEO

Short description: 
METRO PIER & EXPO AUTHORITY                                                

Synopsis of Bill as introduced:
        Amends the Metropolitan Pier and Exposition Authority Act.  Makes      
   technical changes in a Section concerning the short title.                  
        SENATE AMENDMENT NO. 1.                                                
        Adds an immediate effective date.                                      
        SENATE AMENDMENT NO. 2.                                                
          Deletes reference to:                                                
          70 ILCS 210/1                                                        
          Adds reference to:                                                   
          30 ILCS 105/5.545 new                                                
          30 ILCS 105/6z-51 new                                                
          30 ILCS 105/8.25f               from Ch. 127, par. 144.25f           
          35 ILCS 105/9                   from Ch. 120, par. 439.9             
          35 ILCS 110/9                   from Ch. 120, par. 439.39            
          35 ILCS 115/9                   from Ch. 120, par. 439.109           
          35 ILCS 120/3                   from Ch. 120, par. 442               
          35 ILCS 130/29                  from Ch. 120, par. 453.29            
          70 ILCS 210/5                   from Ch. 85, par. 1225               
          70 ILCS 210/10                  from Ch. 85, par. 1230               
          70 ILCS 210/13.2                from Ch. 85, par. 1233.2             
          70 ILCS 210/23.1                from Ch. 85, par. 1243.1             
        Deletes everything.  Amends the State Finance Act,  the  Use  Tax      
   Act,  the Service Use Tax Act, the Service Occupation Tax Act, and the      
   Retailers' Occupation Tax Act.    Increases  the  maximum  amounts  of      
   occupation  and  use  taxes  that  may be deposited into the McCormick      
   Place Expansion Fund in fiscal years 2001 until  2013.   Provides  for      
   the  deposit  of additional amounts into the McCormick Place Expansion      
   Fund in fiscal years 2014 to 2042  (now,  additional  amounts  may  be      
   deposited  until  fiscal year 2029).  Amends the Metropolitan Pier and      
   Exposition Authority Act. Provides that the maximum price  of  certain      
   Expansion  Project  contracts  may  not be in excess of funds that are      
   authorized to be made available for those purposes (now, the  contract      
   price  may  not  be  in excess of funds that are authorized to be made      
   available for those purposes pursuant to an amendatory Act  of  1991).      
   Provides  that the legislative members of the McCormick Place Advisory      
   Board shall be appointed as follows: 2 State Senators appointed by the      
   President of the Senate; 2 State Senators appointed  by  the  Minority      
   Leader of the Senate; 2 State Representatives appointed by the Speaker      
   of  the  House;  and 2 State Representatives appointed by the Minority      
   Leader of the House (now,  7  State  Senators  are  appointed  by  the      
   President  of  the Senate and 7 State Representatives are appointed by      
   the Speaker of the House).  Provides that the Mayor of Chicago and the      
   Governor each appoint 2 members. Eliminates the members  appointed  by      
   the Authority. Provides that bonds issued by the Metropolitan Pier and      
   Exposition Authority may mature at a time not exceeding 40 years (now,      
   35 years) after their issuance.  Provides that the aggregate principal      
   amount  of bonds issued by the Authority may not exceed $2,107,000,000      
   (now, $1,307,000,000). Amends the Cigarette Tax Act.  Provides that in      
   fiscal year 2002 and each fiscal year thereafter the first  $4,800,000      
   from the tax must be deposited into the Statewide Economic Development      
   Fund  (now, the first $4,800,000 from the tax must be deposited in the      
   Metropolitan  Fair  and  Exposition  Authority  Reconstruction  Fund).      
   Amends  the  State  Finance  Act  to  create  the  Statewide  Economic      
   Development Fund and to provide for the expenditure of moneys  in  the      
   fund,  subject  to  appropriation,  for statewide economic development      
   activities.  Provides that provisions of  the  bill  are  inseverable.      
   Effective immediately.                                                      
 
Last action on Bill: PUBLIC ACT.............................. 92-0208

   Last action date: AUG-02-2001

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   2


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