Bill Status of SB 2198   100th General Assembly

Short Description:  BONDS-PENSION BOND RETIREMENT

Senate Sponsors
Sen. Jim Oberweis-Dan McConchie-Kyle McCarter

Last Action  View All Actions

DateChamber Action
  1/9/2019SenateSession Sine Die

Statutes Amended In Order of Appearance
30 ILCS 330/2.5
30 ILCS 330/7.2
30 ILCS 330/7.6 new
30 ILCS 330/9from Ch. 127, par. 659
30 ILCS 330/11from Ch. 127, par. 661

Synopsis As Introduced
Amends the General Obligation Bond Act. Allows for the use of existing bonding authority authorized under Public Act 96-1497 to re-issue and sell bonds of up to $2,200,000,000 and then deposit the proceeds of the sale into the General Obligation Bond Retirement and Interest Fund for the sole purpose of retiring bonds authorized by Public Act 96-1497. Provides that the bonds authorized by the amendatory Act shall be payable within 10 years. Exempts the bonds issued under the amendatory Act from requirements concerning total bond payments compared to aggregate appropriations from the general funds and Road Fund and from requirements concerning methods of sale.

Actions 
DateChamber Action
  4/27/2017SenateFiled with Secretary by Sen. Jim Oberweis
  4/27/2017SenateFirst Reading
  4/27/2017SenateReferred to Assignments
  5/2/2017SenateRule 2-10 Committee Deadline Established As May 12, 2017
  5/2/2017SenateAssigned to Executive
  5/3/2017SenateAdded as Chief Co-Sponsor Sen. Dan McConchie
  5/5/2017SenateAdded as Chief Co-Sponsor Sen. Kyle McCarter
  5/12/2017SenatePostponed - Executive
  5/12/2017SenateRule 3-9(a) / Re-referred to Assignments
  1/9/2019SenateSession Sine Die

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