Sen. Donne E. Trotter
Filed: 5/28/2004
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1 | AMENDMENT TO HOUSE BILL 944
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2 | AMENDMENT NO. ______. Amend House Bill 944 by replacing | ||||||
3 | everything after the enacting clause with the following:
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4 | "Section 5. The State Finance Act is amended by changing | ||||||
5 | Section 8h as follows: | ||||||
6 | (30 ILCS 105/8h)
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7 | Sec. 8h. Transfers to General Revenue Fund. | ||||||
8 | Notwithstanding any other
State law to the contrary, the | ||||||
9 | Director of the
Governor's Office of Management and Budget
may | ||||||
10 | from time to time direct the State Treasurer and Comptroller to | ||||||
11 | transfer
a specified sum from any fund held by the State | ||||||
12 | Treasurer to the General
Revenue Fund in order to help defray | ||||||
13 | the State's operating costs for the
fiscal year. The total | ||||||
14 | transfer under this Section from any fund in any
fiscal year | ||||||
15 | shall not exceed the lesser of 8% of the revenues to be | ||||||
16 | deposited
into the fund during that year or 25% of the | ||||||
17 | beginning balance in the fund.
No transfer may be made from a | ||||||
18 | fund under this Section that would have the
effect of reducing | ||||||
19 | the available balance in the fund to an amount less than
the | ||||||
20 | amount remaining unexpended and unreserved from the total | ||||||
21 | appropriation
from that fund for that fiscal year. This Section | ||||||
22 | does not apply to any
funds that are restricted by federal law | ||||||
23 | to a specific use or to any funds in
the Motor Fuel Tax Fund or | ||||||
24 | the Hospital Provider Fund. No transfers may be made under this |
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1 | Section from the Road Fund or the State Construction Account | ||||||
2 | Fund on or after the effective date of this amendatory Act of | ||||||
3 | the 93rd General Assembly.
Notwithstanding any
other provision | ||||||
4 | of this Section,
the total transfer under this Section from the | ||||||
5 | Road Fund or the State
Construction Account Fund shall not | ||||||
6 | exceed 5% of the revenues to be deposited
into the fund during | ||||||
7 | that year.
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8 | In determining the available balance in a fund, the | ||||||
9 | Director of the
Governor's Office of Management and Budget
may | ||||||
10 | include receipts, transfers into the fund, and other
resources | ||||||
11 | anticipated to be available in the fund in that fiscal year.
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12 | The State Treasurer and Comptroller shall transfer the | ||||||
13 | amounts designated
under this Section as soon as may be | ||||||
14 | practicable after receiving the direction
to transfer from the | ||||||
15 | Director of the Governor's Office of Management and
Budget.
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16 | (Source: P.A. 93-32, eff. 6-20-03; 93-659, eff. 2-3-04.)
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17 | Section 10. The General Obligation Bond Act is amended by | ||||||
18 | changing Sections 2 and 4 as follows:
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19 | (30 ILCS 330/2) (from Ch. 127, par. 652)
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20 | Sec. 2. Authorization for Bonds. The State of Illinois is | ||||||
21 | authorized to
issue, sell and provide for the retirement of | ||||||
22 | General Obligation Bonds of
the State of Illinois for the | ||||||
23 | categories and specific purposes expressed in
Sections 2 | ||||||
24 | through 8 of this Act, in the total amount of $29,658,149,369
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25 | $27,658,149,369 .
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26 | The bonds authorized in this Section 2 and in Section 16 of | ||||||
27 | this Act are
herein called "Bonds".
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28 | Of the total amount of Bonds authorized in this Act, up to | ||||||
29 | $2,200,000,000
in aggregate original principal amount may be | ||||||
30 | issued and sold in accordance
with the Baccalaureate Savings | ||||||
31 | Act in the form of General Obligation
College Savings Bonds.
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32 | Of the total amount of Bonds authorized in this Act, up to |
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1 | $300,000,000 in
aggregate original principal amount may be | ||||||
2 | issued and sold in accordance
with the Retirement Savings Act | ||||||
3 | in the form of General Obligation
Retirement Savings Bonds.
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4 | Of the total amount of Bonds authorized in this Act, the | ||||||
5 | additional
$10,000,000,000 authorized by this amendatory Act | ||||||
6 | of the 93rd General
Assembly shall be used solely as provided | ||||||
7 | in Section 7.2.
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8 | The issuance and sale of Bonds pursuant to the General | ||||||
9 | Obligation Bond
Act is an economical and efficient method of | ||||||
10 | financing the capital and
general operating needs of
the State. | ||||||
11 | This Act will permit the issuance of a multi-purpose General
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12 | Obligation Bond with uniform terms and features. This will not | ||||||
13 | only lower
the cost of registration but also reduce the overall | ||||||
14 | cost of issuing debt
by improving the marketability of Illinois | ||||||
15 | General Obligation Bonds.
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16 | (Source: P.A. 92-13, eff. 6-22-01; 92-596, eff. 6-28-02; | ||||||
17 | 92-598, eff.
6-28-02; 93-2, eff. 4-7-03.)
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18 | (30 ILCS 330/4) (from Ch. 127, par. 654)
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19 | Sec. 4. Transportation. The amount of $7,313,399,000
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20 | $5,313,399,000
is authorized for use by the Department of | ||||||
21 | Transportation for the specific
purpose of promoting and | ||||||
22 | assuring rapid, efficient, and safe highway, air and
mass | ||||||
23 | transportation for the inhabitants of the State by providing | ||||||
24 | monies,
including the making of grants and loans, for the | ||||||
25 | acquisition, construction,
reconstruction, extension and | ||||||
26 | improvement of the following transportation
facilities and | ||||||
27 | equipment, and for the acquisition of real property and
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28 | interests in real property required or expected to be required | ||||||
29 | in connection
therewith as follows:
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30 | (a) $5,432,129,000
$3,432,129,000 for State highways, | ||||||
31 | arterial
highways, freeways,
roads, bridges, structures | ||||||
32 | separating highways and railroads and roads, and
bridges on | ||||||
33 | roads maintained by counties, municipalities, townships or |
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1 | road
districts for the following specific purposes:
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2 | (1) $5,330,000,000
$3,330,000,000 for use statewide,
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3 | (2) $3,677,000 for use outside the Chicago urbanized
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4 | area,
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5 | (3) $7,543,000 for use within the Chicago urbanized | ||||||
6 | area,
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7 | (4) $13,060,600 for use within the City of Chicago,
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8 | (5) $58,987,500 for use within the counties of Cook,
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9 | DuPage, Kane, Lake, McHenry and Will, and
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10 | (6) $18,860,900 for use outside the counties of Cook, | ||||||
11 | DuPage, Kane,
Lake, McHenry and Will.
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12 | (b) $1,529,670,000 for rail facilities and for
mass transit | ||||||
13 | facilities, as defined in Section 2705-305 of the Department of
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14 | Transportation Law (20 ILCS 2705/2705-305), including rapid | ||||||
15 | transit, rail, bus
and other equipment used in connection | ||||||
16 | therewith by the State or any unit of
local government, special | ||||||
17 | transportation district, municipal corporation or
other | ||||||
18 | corporation or public authority authorized to provide and | ||||||
19 | promote public
transportation within the State or two or more | ||||||
20 | of the foregoing jointly, for
the following specific purposes:
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21 | (1) $1,433,870,000 statewide,
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22 | (2) $83,350,000 for use within the counties of Cook,
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23 | DuPage, Kane, Lake, McHenry and Will,
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24 | (3) $12,450,000 for use outside the counties of Cook,
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25 | DuPage, Kane, Lake, McHenry and Will.
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26 | (c) $351,600,000 for airport or aviation facilities and any | ||||||
27 | equipment used
in connection therewith, including engineering | ||||||
28 | and land acquisition costs,
by the State or any unit of local | ||||||
29 | government, special transportation district,
municipal | ||||||
30 | corporation or other corporation or public authority | ||||||
31 | authorized
to provide public transportation within the State, | ||||||
32 | or two or more of the
foregoing acting jointly, and for the | ||||||
33 | making of deposits into the Airport
Land Loan Revolving Fund | ||||||
34 | for loans to public airport owners pursuant to the
Illinois |
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1 | Aeronautics Act.
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2 | (Source: P.A. 91-39, eff. 6-15-99; 91-239, eff. 1-1-00; 91-712, | ||||||
3 | eff. 7-1-00;
92-13, eff. 6-22-01.)
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4 | Section 99. Effective date. This Act takes effect July 1, | ||||||
5 | 2004.".
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