Bill Status of HB 4582   103rd General Assembly

Short Description:  FINANCE-FUND TRANSFERS

House Sponsors
Rep. Robert "Bob" Rita

Senate Sponsors
(Sen. Don Harmon)


Last Action  View All Actions

DateChamber Action
  6/7/2024HousePublic Act . . . . . . . . . 103-0591

Statutes Amended In Order of Appearance
30 ILCS 105/6z-27

Synopsis As Introduced
Amends the State Finance Act. Provides for the transfer of certain moneys into the Audit Expense Fund. Effective immediately.

Senate Floor Amendment No. 1
Deletes reference to:
30 ILCS 105/6z-20.1
Adds reference to:
30 ILCS 105/6z-78
30 ILCS 330/2from Ch. 127, par. 652
30 ILCS 330/3from Ch. 127, par. 653
30 ILCS 330/9from Ch. 127, par. 659
30 ILCS 425/2from Ch. 127, par. 2802
30 ILCS 425/4from Ch. 127, par. 2804
30 ILCS 425/6from Ch. 127, par. 2806
30 ILCS 425/13from Ch. 127, par. 2813
20 ILCS 3805/22from Ch. 67 1/2, par. 322
30 ILCS 350/10from Ch. 17, par. 6910
30 ILCS 350/16from Ch. 17, par. 6916
30 ILCS 350/17from Ch. 17, par. 6917
35 ILCS 200/18-185
105 ILCS 5/10-22.36from Ch. 122, par. 10-22.36
105 ILCS 5/17-2.11from Ch. 122, par. 17-2.11
105 ILCS 5/19-1
105 ILCS 5/20-2from Ch. 122, par. 20-2

Replaces everything after the enacting clause. Amends the State Finance Act. Provides that, if and when the State of Illinois incurs any bonded indebtedness using the general obligation bond authorizations for capital projects enacted in the amendatory Act (and in other Acts), moneys in the Capital Projects Fund shall be set aside and used for the purpose of paying and discharging annually the principal and interest on that (and other) bonded indebtedness. Provides that, upon each delivery of general obligation bonds for capital projects using bond authorizations enacted in the amendatory Act (and other Acts), the Comptroller shall compute and certify to the State Treasurer the total amount of principal of, interest on, and premium, if any, on such bonds during the then current and each succeeding fiscal year. Amends the General Obligation Bond Act. Increases the State's total general obligation bond authorization from $79,440,839,969 to $81,789,839,969. Increases the amount of bond funds that may be used for various purposes. Specifies that bonds issued under the Act during fiscal year 2025 may be issued with principal or mandatory redemption amounts in unequal amounts. Amends the Build Illinois Bond Act. Increases the bond authorization under the Act from $10,019,681,100 to $10,758,681,100. Authorizes the use of bond proceeds for fostering the advancement of quantum information science and technology. Increases the amount of bond proceeds that may be used for various purposes under the Act. Specifies that bonds issued under the Act during fiscal year 2025 may be issued with principal or mandatory redemption amounts in unequal amounts. Amends the Illinois Housing Development Act. Increases the maximum bond authorization from $7,200,000,000 to $11,500,000,000. Amends the Local Government Debt Reform Act. Provides that certain bonds issued by school districts shall become due within 30 years (currently, 25 years) after they are issued. Provides that the county clerk shall accept certificates abating property taxes levied for the payment of principal and interest on general obligation bonds electronically. Amends the Property Tax Extension Limitation Law in the Property Tax Code. Provides that extensions made for the payment of principal and interest on certain school construction bonds are not included in the district's aggregate extension. Amends the School Code. Provides that, beginning September 1, 2024, no referendum shall be required to build or purchase a building for school classroom or instructional purposes if, prior to the building or purchase of the building, the board determines, by resolution, that the building or purchase will result in an increase in pre-kindergarten or kindergarten classroom space in the district. Provides that certain bonds issued by school districts and authorized by an election held on or after November 5, 2024, and on any bonds issued to refund or continue to refund such bonds, shall not be considered indebtedness for purposes of any statutory debt limitation and must mature within 30 years from their date. Makes other changes concerning the issuance of bonds. Effective July 1, 2024.

Actions 
DateChamber Action
  1/25/2024HouseFiled with the Clerk by Rep. Fred Crespo
  1/31/2024HouseFirst Reading
  1/31/2024HouseReferred to Rules Committee
  2/28/2024HouseAssigned to Appropriations-General Services Committee
  4/5/2024HouseCommittee/3rd Reading Deadline Extended-Rule May 24, 2024
  4/12/2024HouseDo Pass / Short Debate Appropriations-General Services Committee; 015-000-000
  4/12/2024HousePlaced on Calendar 2nd Reading - Short Debate
  4/17/2024HouseSecond Reading - Short Debate
  4/17/2024HouseHeld on Calendar Order of Second Reading - Short Debate
  4/18/2024HousePlaced on Calendar Order of 3rd Reading - Short Debate
  4/18/2024HouseThird Reading - Short Debate - Passed 108-000-000
  4/19/2024SenateArrive in Senate
  4/19/2024SenatePlaced on Calendar Order of First Reading April 30, 2024
  4/24/2024SenateChief Senate Sponsor Sen. Elgie R. Sims, Jr.
  4/24/2024SenateFirst Reading
  4/24/2024SenateReferred to Assignments
  4/30/2024SenateApproved for Consideration Assignments
  4/30/2024SenatePlaced on Calendar Order of 2nd Reading May 1, 2024
  5/17/2024SenateSecond Reading
  5/17/2024SenatePlaced on Calendar Order of 3rd Reading May 20, 2024
  5/17/2024SenateRule 2-10 Third Reading/Passage Deadline Established As May 24, 2024
  5/24/2024SenateRule 2-10 Third Reading Deadline Established As May 25, 2024
  5/25/2024SenateRule 2-10 Third Reading Deadline Established As May 26, 2024
  5/26/2024SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. Don Harmon
  5/26/2024SenateSenate Floor Amendment No. 1 Referred to Assignments
  5/26/2024SenateAlternate Chief Sponsor Changed to Sen. Don Harmon
  5/26/2024SenateSenate Floor Amendment No. 1 Be Approved for Consideration Assignments
  5/26/2024SenateRecalled to Second Reading
  5/26/2024SenateSenate Floor Amendment No. 1 Adopted; Harmon
  5/26/2024SenatePlaced on Calendar Order of 3rd Reading
  5/26/2024Senate3/5 Vote Required
  5/26/2024SenateThird Reading - Passed; 040-018-000
  5/26/2024HouseArrived in House
  5/26/2024HousePlaced on Calendar Order of Concurrence Senate Amendment(s) 1
  5/28/2024HouseAdded Chief Co-Sponsor Rep. Emanuel "Chris" Welch
  5/28/2024HouseRemove Chief Co-Sponsor Rep. Emanuel "Chris" Welch
  5/28/2024HouseChief Sponsor Changed to Rep. Emanuel "Chris" Welch
  5/28/2024HouseSenate Floor Amendment No. 1 Motion Filed Concur Rep. Emanuel "Chris" Welch
  5/28/2024HouseSenate Floor Amendment No. 1 Motion to Concur Referred to Rules Committee
  5/28/2024HouseSenate Floor Amendment No. 1 Motion to Concur Recommends Be Adopted Rules Committee; 005-000-000
  5/28/2024HouseChief Sponsor Changed to Rep. Robert "Bob" Rita
  5/29/2024House3/5 Vote Required
  5/29/2024HouseSenate Floor Amendment No. 1 House Concurs 072-038-000
  5/29/2024HouseHouse Concurs
  5/29/2024HouseMotion Filed to Reconsider Vote Rep. Emanuel "Chris" Welch
  6/3/2024HouseMotion Withdrawn Rep. Emanuel "Chris" Welch
  6/3/2024HousePassed Both Houses
  6/6/2024HouseSent to the Governor
  6/7/2024HouseGovernor Approved
  6/7/2024HouseEffective Date July 1, 2024
  6/7/2024HousePublic Act . . . . . . . . . 103-0591

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