Rep. Jay C. Hoffman

Filed: 7/16/2008

 

 


 

 


 
09500SB1460ham003 LRB095 08681 SSS 52119 a

1
AMENDMENT TO SENATE BILL 1460

2     AMENDMENT NO. ______. Amend Senate Bill 1460, AS AMENDED,
3 by replacing everything after the enacting clause with the
4 following:
 
5
"ARTICLE 1.

 
6     Section 1. The General Obligation Bond Act is amended by
7 changing Sections 2, 3, 4, 5, 7 and 12 as follows:
 
8     (30 ILCS 330/2)  (from Ch. 127, par. 652)
9     Sec. 2. Authorization for Bonds. The State of Illinois is
10 authorized to issue, sell and provide for the retirement of
11 General Obligation Bonds of the State of Illinois for the
12 categories and specific purposes expressed in Sections 2
13 through 8 of this Act, in the total amount of $30,177,149,369
14 $27,658,149,369.
15     The bonds authorized in this Section 2 and in Section 16 of

 

 

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1 this Act are herein called "Bonds".
2     Of the total amount of Bonds authorized in this Act, up to
3 $2,200,000,000 in aggregate original principal amount may be
4 issued and sold in accordance with the Baccalaureate Savings
5 Act in the form of General Obligation College Savings Bonds.
6     Of the total amount of Bonds authorized in this Act, up to
7 $300,000,000 in aggregate original principal amount may be
8 issued and sold in accordance with the Retirement Savings Act
9 in the form of General Obligation Retirement Savings Bonds.
10     Of the total amount of Bonds authorized in this Act, the
11 additional $10,000,000,000 authorized by this amendatory Act
12 of the 93rd General Assembly shall be used solely as provided
13 in Section 7.2.
14     The issuance and sale of Bonds pursuant to the General
15 Obligation Bond Act is an economical and efficient method of
16 financing the long-term capital needs of the State. This Act
17 will permit the issuance of a multi-purpose General Obligation
18 Bond with uniform terms and features. This will not only lower
19 the cost of registration but also reduce the overall cost of
20 issuing debt by improving the marketability of Illinois General
21 Obligation Bonds.
22 (Source: P.A. 92-13, eff. 6-22-01; 92-596, eff. 6-28-02;
23 92-598, eff. 6-28-02; 93-2, eff. 4-7-03; 93-839, eff. 7-30-04.)
 
24     (30 ILCS 330/3)  (from Ch. 127, par. 653)
25     Sec. 3. Capital Facilities. The amount of $7,976,235,369

 

 

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1 $7,320,235,369 is authorized to be used for the acquisition,
2 development, construction, reconstruction, improvement,
3 financing, architectural planning and installation of capital
4 facilities within the State, consisting of buildings,
5 structures, durable equipment, land, and interests in land for
6 the following specific purposes:
7         (a) $2,459,228,000 $2,211,228,000 for educational
8     purposes by State universities and colleges, the Illinois
9     Community College Board created by the Public Community
10     College Act and for grants to public community colleges as
11     authorized by Sections 5-11 and 5-12 of the Public
12     Community College Act;
13         (b) $1,607,420,000 for correctional purposes at State
14     prison and correctional centers;
15         (c) $531,175,000 for open spaces, recreational and
16     conservation purposes and the protection of land;
17         (d) $589,917,000 for child care facilities, mental and
18     public health facilities, and facilities for the care of
19     disabled veterans and their spouses;
20         (e) $1,565,990,000 $1,455,990,000 for use by the
21     State, its departments, authorities, public corporations,
22     commissions and agencies;
23         (f) $818,100 for cargo handling facilities at port
24     districts and for breakwaters, including harbor entrances,
25     at port districts in conjunction with facilities for small
26     boats and pleasure crafts;

 

 

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1         (g) $204,657,000 for water resource management
2     projects;
3         (h) $16,940,269 for the provision of facilities for
4     food production research and related instructional and
5     public service activities at the State universities and
6     public community colleges;
7         (i) $36,000,000 for grants by the Secretary of State,
8     as State Librarian, for central library facilities
9     authorized by Section 8 of the Illinois Library System Act
10     and for grants by the Capital Development Board to units of
11     local government for public library facilities;
12         (j) $25,000,000 for the acquisition, development,
13     construction, reconstruction, improvement, financing,
14     architectural planning and installation of capital
15     facilities consisting of buildings, structures, durable
16     equipment and land for grants to counties, municipalities
17     or public building commissions with correctional
18     facilities that do not comply with the minimum standards of
19     the Department of Corrections under Section 3-15-2 of the
20     Unified Code of Corrections;
21         (k) $5,000,000 for grants in fiscal year 1988 by the
22     Department of Conservation for improvement or expansion of
23     aquarium facilities located on property owned by a park
24     district;
25         (l) $730,590,000 $432,590,000 to State agencies and
26     authorities for grants to local governments,

 

 

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1     not-for-profit and community organizations for the
2     acquisition, financing, architectural planning,
3     development, alteration, installation, and construction of
4     capital facilities consisting of buildings, structures,
5     durable equipment, and land; and
6         (m) $203,500,000 for the Illinois Open Land Trust
7     Program as defined by the Illinois Open Land Trust Act.
8     The amounts authorized above for capital facilities may be
9 used for the acquisition, installation, alteration,
10 construction, or reconstruction of capital facilities and for
11 the purchase of equipment for the purpose of major capital
12 improvements which will reduce energy consumption in State
13 buildings or facilities.
14 (Source: P.A. 91-39, 6-15-99; 91-53, eff. 6-30-99; 91-710, eff.
15 5-17-00; 92-13, eff. 6-22-01; 92-598, eff. 6-28-02.)
 
16     (30 ILCS 330/4)  (from Ch. 127, par. 654)
17     Sec. 4. Transportation. The amount of $6,773,399,000
18 $5,313,399,000 is authorized for use by the Department of
19 Transportation for the specific purpose of promoting and
20 assuring rapid, efficient, and safe highway, air and mass
21 transportation for the inhabitants of the State by providing
22 monies, including the making of grants and loans, for the
23 acquisition, construction, reconstruction, extension and
24 improvement of the following transportation facilities and
25 equipment, and for the acquisition of real property and

 

 

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1 interests in real property required or expected to be required
2 in connection therewith as follows:
3     (a) $4,062,129,000 $3,432,129,000 for State highways,
4 arterial highways, freeways, roads, bridges, structures
5 separating highways and railroads and roads, and bridges on
6 roads maintained by counties, municipalities, townships or
7 road districts for the following specific purposes:
8         (1) $3,960,000,000 $3,330,000,000 for use statewide,
9         (2) $3,677,000 for use outside the Chicago urbanized
10     area,
11         (3) $7,543,000 for use within the Chicago urbanized
12     area,
13         (4) $13,060,600 for use within the City of Chicago,
14         (5) $58,987,500 for use within the counties of Cook,
15     DuPage, Kane, Lake, McHenry and Will, and
16         (6) $18,860,900 for use outside the counties of Cook,
17     DuPage, Kane, Lake, McHenry and Will.
18     (b) $2,193,670,000 $1,529,670,000 for rail facilities and
19 for mass transit facilities, as defined in Section 2705-305 of
20 the Department of Transportation Law (20 ILCS 2705/2705-305),
21 including rapid transit, rail, bus and other equipment used in
22 connection therewith by the State or any unit of local
23 government, special transportation district, municipal
24 corporation or other corporation or public authority
25 authorized to provide and promote public transportation within
26 the State or two or more of the foregoing jointly, for the

 

 

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1 following specific purposes:
2         (1) $2,097,870,000 $1,433,870,000 statewide,
3         (2) $83,350,000 for use within the counties of Cook,
4     DuPage, Kane, Lake, McHenry and Will,
5         (3) $12,450,000 for use outside the counties of Cook,
6     DuPage, Kane, Lake, McHenry and Will.
7     (c) $351,600,000 for airport or aviation facilities and any
8 equipment used in connection therewith, including engineering
9 and land acquisition costs, by the State or any unit of local
10 government, special transportation district, municipal
11 corporation or other corporation or public authority
12 authorized to provide public transportation within the State,
13 or two or more of the foregoing acting jointly, and for the
14 making of deposits into the Airport Land Loan Revolving Fund
15 for loans to public airport owners pursuant to the Illinois
16 Aeronautics Act.
17     (d) $166,000,000 for use statewide for State highways,
18 arterial highways, freeways, roads, bridges, structures
19 separating highways and railroads and roads, and bridges on
20 roads maintained by counties, municipalities, townships or
21 road districts.
22 (Source: P.A. 91-39, eff. 6-15-99; 91-239, eff. 1-1-00; 91-712,
23 eff. 7-1-00; 92-13, eff. 6-22-01.)
 
24     (30 ILCS 330/5)  (from Ch. 127, par. 655)
25     Sec. 5. School Construction.

 

 

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1     (a) The amount of $58,450,000 is authorized to make grants
2 to local school districts for the acquisition, development,
3 construction, reconstruction, rehabilitation, improvement,
4 financing, architectural planning and installation of capital
5 facilities, including but not limited to those required for
6 special education building projects provided for in Article 14
7 of The School Code, consisting of buildings, structures, and
8 durable equipment, and for the acquisition and improvement of
9 real property and interests in real property required, or
10 expected to be required, in connection therewith.
11     (b) $22,550,000, or so much thereof as may be necessary,
12 for grants to school districts for the making of principal and
13 interest payments, required to be made, on bonds issued by such
14 school districts after January 1, 1969, pursuant to any
15 indenture, ordinance, resolution, agreement or contract to
16 provide funds for the acquisition, development, construction,
17 reconstruction, rehabilitation, improvement, architectural
18 planning and installation of capital facilities consisting of
19 buildings, structures, durable equipment and land for
20 educational purposes or for lease payments required to be made
21 by a school district for principal and interest payments on
22 bonds issued by a Public Building Commission after January 1,
23 1969.
24     (c) $10,000,000 for grants to school districts for the
25 acquisition, development, construction, reconstruction,
26 rehabilitation, improvement, architectural planning and

 

 

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1 installation of capital facilities consisting of buildings
2 structures, durable equipment and land for special education
3 building projects.
4     (d) $9,000,000 for grants to school districts for the
5 reconstruction, rehabilitation, improvement, financing and
6 architectural planning of capital facilities, including
7 construction at another location to replace such capital
8 facilities, consisting of those public school buildings and
9 temporary school facilities which, prior to January 1, 1984,
10 were condemned by the regional superintendent under Section
11 3-14.22 of The School Code or by any State official having
12 jurisdiction over building safety.
13     (e) $3,349,000,000 $3,050,000,000 for grants to school
14 districts for school improvement projects authorized by the
15 School Construction Law. The bonds shall be sold in amounts not
16 to exceed the following schedule, except any bonds not sold
17 during one year shall be added to the bonds to be sold during
18 the remainder of the schedule:
19     First year..................................$200,000,000
20     Second year.................................$450,000,000
21     Third year..................................$500,000,000
22     Fourth year.................................$500,000,000
23     Fifth year..................................$800,000,000
24     Sixth year and thereafter...................$600,000,000
25     Seventh year................................$280,000,000
26     Eighth year and thereafter...................$19,000,000

 

 

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1 (Source: P.A. 91-39, eff. 6-15-99; 92-598, eff. 6-28-02.)
 
2     (30 ILCS 330/7)  (from Ch. 127, par. 657)
3     Sec. 7. Coal and Energy Development. The amount of
4 $748,200,000 $663,200,000 is authorized to be used by the
5 Department of Commerce and Economic Opportunity (formerly
6 Department of Commerce and Community Affairs) for coal and
7 energy development purposes, pursuant to Sections 2, 3 and 3.1
8 of the Illinois Coal and Energy Development Bond Act, for the
9 purposes specified in Section 8.1 of the Energy Conservation
10 and Coal Development Act, and for the purposes specified in
11 Section 605-332 of the Department of Commerce and Economic
12 Opportunity Law of the Civil Administrative Code of Illinois.
13 Of this amount:
14     (a) $170,000,000 $115,000,000 is for the specific purposes
15 of acquisition, development, construction, reconstruction,
16 improvement, financing, architectural and technical planning
17 and installation of capital facilities consisting of
18 buildings, structures, durable equipment, and land for the
19 purpose of capital development of coal resources within the
20 State and for the purposes specified in Section 8.1 of the
21 Energy Conservation and Coal Development Act;
22     (b) $35,000,000 is for the purposes specified in Section
23 8.1 of the Energy Conservation and Coal Development Act and
24 making a grant to the owner of a generating station located in
25 Illinois and having at least three coal-fired generating units

 

 

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1 with accredited summer capability greater than 500 megawatts
2 each at such generating station as provided in Section 6 of
3 that Bond Act;
4     (c) $43,200,000 $13,200,000 is for research, development
5 and demonstration of forms of energy other than that derived
6 from coal, either on or off State property; and
7     (d) $500,000,000 is for the purpose of providing financial
8 assistance to new electric generating facilities as provided in
9 Section 605-332 of the Department of Commerce and Economic
10 Opportunity Law of the Civil Administrative Code of Illinois.
11 (Source: P.A. 94-793, eff. 5-19-06.)
 
12     (30 ILCS 330/12)  (from Ch. 127, par. 662)
13     Sec. 12. Allocation of Proceeds from Sale of Bonds.
14     (a) Proceeds from the sale of Bonds, authorized by Section
15 3 of this Act, shall be deposited in the separate fund known as
16 the Capital Development Fund, provided however that
17 $656,000,000 in proceeds from the sale of Bonds, as authorized
18 by Section 3 of this Act, as amended by this amendatory Act of
19 the 95th General Assembly, shall be deposited into the Illinois
20 Works Fund.
21     (b) Proceeds from the sale of Bonds, authorized by
22 paragraph (a) of Section 4 of this Act, shall be deposited in
23 the separate fund known as the Transportation Bond, Series A
24 Fund, provided however that $630,000,000 in proceeds from the
25 sale of Bonds, as authorized by subsection (a) of Section 4 of

 

 

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1 this Act, as amended by this amendatory Act of the 95th General
2 Assembly, shall be deposited into the Illinois Works Fund.
3     (c) Proceeds from the sale of Bonds, authorized by
4 paragraphs (b) and (c) of Section 4 of this Act, shall be
5 deposited in the separate fund known as the Transportation
6 Bond, Series B Fund, provided however that $664,000,000 in
7 proceeds from the sale of Bonds, as authorized by subsections
8 (b) and (c) of Section 4 of this Act, as amended by this
9 amendatory Act of the 95th General Assembly, shall be deposited
10 into the Illinois Works Fund.
11     (c-1) Proceeds from the sale of Bonds, authorized by
12 paragraph (d) of Section 4 of this Act, shall be deposited in
13 the separate fund known as the Illinois Works Fund.
14     (d) Proceeds from the sale of Bonds, authorized by Section
15 5 of this Act, shall be deposited in the separate fund known as
16 the School Construction Fund, provided however that
17 $299,000,000 in proceeds from the sale of Bonds, as authorized
18 by Section 5 of this Act, as amended by this amendatory Act of
19 the 95th General Assembly, shall be deposited into the Illinois
20 Works Fund.
21     (e) Proceeds from the sale of Bonds, authorized by Section
22 6 of this Act, shall be deposited in the separate fund known as
23 the Anti-Pollution Fund.
24     (f) Proceeds from the sale of Bonds, authorized by Section
25 7 of this Act, shall be deposited in the separate fund known as
26 the Coal Development Fund, provided however that $85,000,000 in

 

 

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1 proceeds from the sale of Bonds, as authorized by Section 7 of
2 this Act, as amended by this amendatory Act of the 95th General
3 Assembly, shall be deposited into the Illinois Works Fund.
4     (f-2) Proceeds from the sale of Bonds, authorized by
5 Section 7.2 of this Act, shall be deposited as set forth in
6 Section 7.2.
7     (f-5) Proceeds from the sale of Bonds, authorized by
8 Section 7.5 of this Act, shall be deposited as set forth in
9 Section 7.5.
10     (g) Proceeds from the sale of Bonds, authorized by Section
11 8 of this Act, shall be deposited in the Capital Development
12 Fund.
13     (h) Subsequent to the issuance of any Bonds for the
14 purposes described in Sections 2 through 8 of this Act, the
15 Governor and the Director of the Governor's Office of
16 Management and Budget may provide for the reallocation of
17 unspent proceeds of such Bonds to any other purposes authorized
18 under said Sections of this Act, subject to the limitations on
19 aggregate principal amounts contained therein. Upon any such
20 reallocation, such unspent proceeds shall be transferred to the
21 appropriate funds as determined by reference to paragraphs (a)
22 through (g) of this Section.
23 (Source: P.A. 93-2, eff. 4-7-03; 94-793, eff. 5-19-06.)
 
24
ARTICLE 99.

 

 

 

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1     Section 99-99. Effective date. This Act takes effect upon
2 becoming law.".