Illinois General Assembly - Bill Status for HB 3904

Bill Status of HB 3904 94th General Assembly

Short Description: FINANCE-TECH

House Sponsors
Rep. Lisa M. Dugan-Gary Hannig-Elaine Nekritz-Careen M Gordon-John E. Bradley, Mike Boland, Daniel V. Beiser, Frank J. Mautino, Thomas Holbrook, Brandon W. Phelps and Jack McGuire

Last Action View All Actions

Date Chamber Action
  5/4/2006 House Third Reading - Short Debate - Lost 062-043-000

Statutes Amended In Order of Appearance
30 ILCS 390/1 from Ch. 122, par. 1201

Synopsis As Introduced
Amends the School Construction Bond Act. Makes a technical change in a Section concerning the short title.

House Amendment No. 1
Deletes reference to:
30 ILCS 390/1
Adds reference to:
30 ILCS 330/2 from Ch. 127, par. 652
30 ILCS 330/5 from Ch. 127, par. 655

Deletes everything after the enacting clause. Amends the General Obligation Bond Act. Authorizes the State to incur new debt by issuing up to $500,000,000 in addition GO bonds. Authorizes additional amounts from the proceeds of GO bonds to be used for school construction projects. Effective immediately.

Fiscal Note (H-AM 1)(Illinois State Board of Education)
The State Board of Education estimates that it will cost $600,000 to fulfill the agency's obligations under the School Construction Law.

State Mandates Fiscal Note (H-AM 1)(Illinois State Board of Education)
The State Board of Education does not believe this will have an adverse impact on school districts.

Fiscal Note (H-AM 1)(Capital Development Board)
If appropriations are made for continuation of the program in the amount of $500,000,000, then historical spending shows that the program will spend out over a five year period approximately as follows: FY07 = $180 million; FY08 = $190 million; FY09 = $85 million; FY10 = $25 million; FY11 = $20 million.

State Debt Impact Note (H-AM 1) (Com. on Gov. Forecasting & Accountability)
Would raise general obligation bond authorization by $500 million for the School Construction Program increasing: General Obligation Principal by $500 million, Potential General Obligation Debt by $822 million, and Annual Debt Service will range from $21-$45 million.

Actions
Date Chamber Action
  2/28/2005 House Filed with the Clerk by Rep. Michael J. Madigan
  2/28/2005 House Chief Co-Sponsor Rep. Gary Hannig
  2/28/2005 House First Reading
  2/28/2005 House Referred to Rules Committee
  3/1/2005 House Assigned to Executive Committee
  3/9/2005 House Do Pass / Short Debate Executive Committee; 013-000-000
  3/10/2005 House Placed on Calendar 2nd Reading - Short Debate **
  4/7/2005 House Second Reading - Short Debate
  4/7/2005 House Held on Calendar Order of Second Reading - Short Debate **
  4/15/2005 House Rule 19(a) / Re-referred to Rules Committee
  4/5/2006 House Final Action Deadline Extended-9(b) April 7, 2006
  4/5/2006 House Approved for Consideration Rules Committee; 004-000-000
  4/5/2006 House Placed on Calendar 2nd Reading - Short Debate
  4/7/2006 House Final Action Deadline Extended-9(b) April 13, 2006
  4/10/2006 House House Amendment No. 1 Filed with Clerk by Rep. Michael J. Madigan; - Rep. Gary Hannig
  4/10/2006 House House Amendment No. 1 Referred to Rules Committee
  4/10/2006 House House Amendment No. 1 Rules Refers to Executive Committee
  4/10/2006 House Chief Sponsor Changed to Rep. Lisa M. Dugan
  4/11/2006 House House Amendment No. 1 Recommends Be Adopted Executive Committee; 007-004-000
  4/11/2006 House Added Chief Co-Sponsor Rep. Elaine Nekritz
  4/11/2006 House Added Chief Co-Sponsor Rep. Careen M Gordon
  4/11/2006 House Added Chief Co-Sponsor Rep. John E. Bradley
  4/11/2006 House Added Co-Sponsor Rep. Mike Boland
  4/11/2006 House Added Co-Sponsor Rep. Daniel V. Beiser
  4/11/2006 House Added Co-Sponsor Rep. Frank J. Mautino
  4/11/2006 House Added Co-Sponsor Rep. Thomas Holbrook
  4/11/2006 House Added Co-Sponsor Rep. Brandon W. Phelps
  4/13/2006 House Final Action Deadline Extended-9(b) April 30, 2006
  4/17/2006 House Fiscal Note Filed As Amended HA 1
  4/17/2006 House State Mandates Fiscal Note Filed As Amended by HA 1
  4/18/2006 House Fiscal Note Filed As Amended by HA 1
  4/18/2006 House State Debt Impact Note Filed As Amended by HA 1
  4/18/2006 House Second Reading - Short Debate
  4/18/2006 House House Amendment No. 1 Adopted by Voice Vote
  4/18/2006 House Placed on Calendar Order of 3rd Reading - Short Debate
  4/30/2006 House Final Action Deadline Extended-9(b) May 5, 2006
  5/2/2006 House Added Co-Sponsor Rep. Jack McGuire
  5/4/2006 House 3/5 Vote Required
  5/4/2006 House Third Reading - Short Debate - Lost 062-043-000

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Date	Chamber	Action
5/4/2006	House	Third Reading - Short Debate - Lost 062-043-000

	Fiscal Note (H-AM 1)(Illinois State Board of Education)
	The State Board of Education estimates that it will cost $600,000 to fulfill the agency's obligations under the School Construction Law.

	State Mandates Fiscal Note (H-AM 1)(Illinois State Board of Education)
	The State Board of Education does not believe this will have an adverse impact on school districts.

	Fiscal Note (H-AM 1)(Capital Development Board)
	If appropriations are made for continuation of the program in the amount of $500,000,000, then historical spending shows that the program will spend out over a five year period approximately as follows: FY07 = $180 million; FY08 = $190 million; FY09 = $85 million; FY10 = $25 million; FY11 = $20 million.

	State Debt Impact Note (H-AM 1) (Com. on Gov. Forecasting & Accountability)
	Would raise general obligation bond authorization by $500 million for the School Construction Program increasing: General Obligation Principal by $500 million, Potential General Obligation Debt by $822 million, and Annual Debt Service will range from $21-$45 million.