95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
HB1416

 

Introduced 2/21/2007, by Rep. Kurt M. Granberg

 

SYNOPSIS AS INTRODUCED:
 
20 ILCS 3501/845-5

    Amends the Illinois Finance Authority Act. Increases the aggregate limit on outstanding bonds from $25,200,000,000 to $30,000,000,000. Excludes from this limit bonds issued under the Illinois Environmental Facilities Financing Act.


LRB095 09804 RCE 30014 b

FISCAL NOTE ACT MAY APPLY
STATE DEBT IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB1416 LRB095 09804 RCE 30014 b

1     AN ACT concerning finance.
 
2     Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
 
4     Section 5. The Illinois Finance Authority Act is amended by
5 changing Section 845-5 as follows:
 
6     (20 ILCS 3501/845-5)
7     Sec. 845-5. The Authority may not have outstanding at any
8 one time bonds for any of its corporate purposes in an
9 aggregate principal amount exceeding $30,000,000,000
10 $25,200,000,000, excluding bonds issued to refund the bonds of
11 the Authority or bonds of the Predecessor Authorities and
12 excluding bonds issued under the Illinois Environmental
13 Facilities Financing Act.
14 (Source: P.A. 93-205, eff. 1-1-04; 93-1101, eff. 3-31-05;
15 94-1068, eff. 8-1-06.)