Illinois General Assembly - Bill Status for HJRCA0026
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 Bill Status of HJRCA0026  94th General Assembly

Short Description:  REVENUE- DEBT SERVICE

House Sponsors
Rep. Jim Watson - Terry R. Parke

Last Action
DateChamber Action
  5/6/2006HouseTabled Pursuant to Rule 46
ILCON Art. IX, Sec. 9.1 new 

Synopsis As Introduced
Proposes to amend the Revenue Article of the Illinois Constitution. Prohibits the State from issuing general obligation bonds or other indebtedness secured by the full faith and credit of the State if, in the next fiscal year, the resulting amount of debt service on all outstanding bonds would exceed 7% of that fiscal year's aggregate appropriations of (i) general funds and (ii) specific vehicle or fuel related revenues. Permits the issuance of bonds that would otherwise violate the prohibition if the State Comptroller and State Treasurer consent in writing. Effective upon being declared adopted.

DateChamber Action
  1/19/2006HouseFiled with the Clerk by Rep. Jim Watson
  1/19/2006HouseRead in Full a First Time
  1/19/2006HouseReferred to Rules Committee
  2/14/2006HouseAdded Chief Co-Sponsor Rep. Terry R. Parke
  5/6/2006HouseTabled Pursuant to Rule 46

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