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| | 97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
SB1995 Introduced 2/10/2011, by Sen. Kirk W. Dillard SYNOPSIS AS INTRODUCED:
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Amends the Governor's Office of Management and Budget Act. Provides that, beginning the first full calendar week of July in 2011, the Office shall post and maintain on the Office's official Internet website, information detailing the State's debt paydown. Sets forth the requirements for the website. Provides that the information on the website must include the assets, liabilities, and unfunded liabilities of the Teachers Retirement System, State Employees Retirement System, State Universities Retirement Systems, Judges Retirement System, and General Assembly Retirement System. Effective immediately.
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| | | FISCAL NOTE ACT MAY APPLY | |
| | A BILL FOR |
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| | SB1995 | | LRB097 10245 RLJ 50444 b |
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| 1 | | AN ACT concerning State government.
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| 2 | | Be it enacted by the People of the State of Illinois,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Governor's Office of Management and Budget |
| 5 | | Act is amended by adding Section 10 as follows:
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| 6 | | (20 ILCS 3005/10 new) |
| 7 | | Sec. 10. Posting requirements; State debt paydown. |
| 8 | | Beginning the first full calendar week of July in 2011, the |
| 9 | | Office shall post and maintain on the Office's official |
| 10 | | Internet website, information detailing the State's debt |
| 11 | | paydown. This website shall be updated by the Office at least |
| 12 | | once every 7 calendar days. The information on the website |
| 13 | | shall include the outstanding principal amount as of any date |
| 14 | | in the preceding 7 days, and principal or redemption and |
| 15 | | interest payments made within the preceding 7 calendar days, on |
| 16 | | the State's general obligation bonds, Build Illinois bonds, |
| 17 | | short-term borrowings issued under the Short Term Borrowing |
| 18 | | Act, and other State debt as defined in subsection (a) of |
| 19 | | Section 9 of Article 9 of the Illinois Constitution. The |
| 20 | | information on the website also shall include the latest |
| 21 | | available assets, liabilities, and unfunded liabilities of the |
| 22 | | Teachers Retirement System, State Employees Retirement System, |
| 23 | | State Universities Retirement Systems, Judges Retirement |