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| 1 | HOUSE JOINT RESOLUTION
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| 2 | WHEREAS, Local units of government, including school | ||||||
| 3 | districts, often rely on the sale of bonds to
finance local | ||||||
| 4 | public works projects; and
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| 5 | WHEREAS, It is pertinent that the General Assembly review | ||||||
| 6 | the existing bond sale processes of units
of local government, | ||||||
| 7 | including school districts, in an effort to remove potential | ||||||
| 8 | conflicts of
interest; therefore, be it
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| 9 | RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE ONE | ||||||
| 10 | HUNDRED FIRST GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, THE | ||||||
| 11 | SENATE CONCURRING HEREIN, that the Local Government Bond Reform | ||||||
| 12 | Task Force is created; and be it further | ||||||
| 13 | RESOLVED, That the Task Force shall review and analyze the | ||||||
| 14 | current processes that units of local
governments, including | ||||||
| 15 | school districts, use to propose, invest in, and sell bonds, | ||||||
| 16 | including any
potential conflicts of interest; and be it | ||||||
| 17 | further | ||||||
| 18 | RESOLVED, That the Task Force shall consist of the | ||||||
| 19 | following members, who shall serve without
compensation: | ||||||
| 20 | (1) One member from the majority party of the House of | ||||||
| 21 | Representatives appointed by the
Speaker of the House of | ||||||
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| 1 | Representatives; | ||||||
| 2 | (2) One member from the minority party of the House of | ||||||
| 3 | Representatives appointed by the
Minority Leader of the | ||||||
| 4 | House of Representatives; | ||||||
| 5 | (3) One member from the majority party of the Senate | ||||||
| 6 | appointed by the President of the
Senate; | ||||||
| 7 | (4) One member from the minority party of the Senate | ||||||
| 8 | appointed by the Minority Leader of
the Senate; | ||||||
| 9 | (5) The Director of the Department of Revenue or his or | ||||||
| 10 | her designee; | ||||||
| 11 | (6) The State Superintendent of Education or his or her | ||||||
| 12 | designee; | ||||||
| 13 | (7) One member who represents an organization | ||||||
| 14 | representing counties appointed by the
Governor; | ||||||
| 15 | (8) One member who represents an organization | ||||||
| 16 | representing municipalities appointed by the
Governor; | ||||||
| 17 | (9) One member who represents an organization | ||||||
| 18 | representing townships appointed by the
Governor; | ||||||
| 19 | (10) One member who represents an organization | ||||||
| 20 | representing park districts appointed by the
Governor; | ||||||
| 21 | (11) One member who represents an organization | ||||||
| 22 | representing school board members
appointed by the | ||||||
| 23 | Governor; | ||||||
| 24 | (12) One member who represents an organization | ||||||
| 25 | representing school superintendents
appointed by the | ||||||
| 26 | Governor; | ||||||
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| 1 | (13) One member who represents an organization | ||||||
| 2 | representing school business officials
appointed by the | ||||||
| 3 | Governor; and | ||||||
| 4 | (14) One member who represents an organization which | ||||||
| 5 | serves as advocates for taxpayers and
businesses appointed | ||||||
| 6 | by the Governor; | ||||||
| 7 | (15) One member who represents the bond industry | ||||||
| 8 | appointed by the Governor; and be it
further | ||||||
| 9 | RESOLVED, That members of the Task Force shall be appointed | ||||||
| 10 | within 30 days after approval of
this resolution; and be it | ||||||
| 11 | further | ||||||
| 12 | RESOLVED, That the Task Force shall hold its first meeting | ||||||
| 13 | as soon as possible at the call of the Director of the Illinois | ||||||
| 14 | Department of
Revenue; at its first meeting, a Chairperson
and | ||||||
| 15 | a Vice Chairperson shall be appointed from among the members of | ||||||
| 16 | the Task Force; following the first meeting,
the Chairperson | ||||||
| 17 | shall have the authority to call subsequent meetings; and be it | ||||||
| 18 | further | ||||||
| 19 | RESOLVED, That the Illinois Department of Revenue shall | ||||||
| 20 | provide administrative support for the
Task Force; and be it | ||||||
| 21 | further | ||||||
| 22 | RESOLVED, That the Task Force shall issue a final report to | ||||||
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| 1 | the General Assembly by January 1, 2021 that shall include | ||||||
| 2 | recommendations to reform the bond process to remove any | ||||||
| 3 | potential conflicts of interest and, upon the filing of its | ||||||
| 4 | report, is dissolved; and be it further
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| 5 | RESOLVED, That a suitable copy of this resolution be | ||||||
| 6 | delivered to Governor Pritzker and the
Director of the Illinois | ||||||
| 7 | Department of Revenue.
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