The Illinois General Assembly offers the Google Translate™ service for visitor convenience. In no way should it be considered accurate as to the translation of any content herein.
Visitors of the Illinois General Assembly website are encouraged to use other translation services available on the internet.
The English language version is always the official and authoritative version of this website.
NOTE: To return to the original English language version, select the "Show Original" button on the Google Translate™ menu bar at the top of the window.
Synopsis As Introduced Creates the Southern Illinois Economic Development Authority Act. Creates the Southern Illinois Economic Development Authority in Clay, Effingham, Fayette, Franklin, Jefferson, Marion, Washington, and Williamson counties in order to promote economic development within those counties. Contains provisions concerning the powers and duties of the Authority. Allows the Authority to acquire, own, sell, lease, or otherwise dispose of interests in real property and to issue bonds, notes, or other evidences of indebtedness for certain purposes. Provides that the Authority shall be governed by a 19-member board. Contains other provisions. Effective immediately.
Deletes everything. Reinserts the provisions of the bill as introduced. Creates the Southeastern Illinois Economic Development Authority in Fayette, Cumberland, Clark, Effingham, Jasper, Crawford, Marion, Clay, Richland, Lawrence, Jefferson, Wayne, Edwards, Wabash, Hamilton, and White counties (rather than Clay, Effingham, Fayette, Franklin, Jefferson, Marion, Washington, and Williamson counties). Provides that the Authority shall be governed by a 10-member board (rather than a 19-member board) and makes corresponding changes. Provides that the Governor shall appoint 9 (rather than 10) public members. Deletes a provision requiring that the chairman of the county board of each county within the territorial jurisdiction of the Authority shall appoint one member. Provides that each member of the Authority shall hold office for a term of 3 years (rather than 6 years). Deletes a provision requiring the Department of Commerce and Economic Opportunity to pay the compensation of the executive director from appropriations received for that purpose. Limits the aggregate amount of bonds that may be issued by the Authority to $25,000,000. Deletes a provision prohibiting the Authority from issuing any bonds relating to the financing of a project located within the planning and subdivision control jurisdiction of any municipality unless the corporate authorities of the municipality do not, or the county board does not, adopt a resolution disapproving the project within 45 days after receipt of the notice. Requires the Auditor General to conduct a financial audit of the Authority every 5 years. Amends the Illinois State Auditing Act to give the Auditor General jurisdiction to conduct financial audits of the Authority. Effective immediately.
Fiscal Note (Department of Commerce and Economic Opportunity)
House Bill 4532 with House Amendment 1 is estimated to have no fiscal impact on the Department of Commerce and Economic Opportunity relating to the appointment or removal of Authority members.
State Debt Impact Note (Economic and Fiscal Commission)
House Bill 4532, as amended by House Amendment 1, would not change the amount of authorization for any type of State-issued bond. However, it does permit for the State's moral obligation pledge to be utilized by the Southeastern Illinois Economic Development Authority. The State is not legally obligated to pay in the event of default on moral obligation bonds, but the Governor may include the default amount in the budget for possible legislative action.
This site is maintained for the Illinois General Assembly
by the Legislative Information System, 705 Stratton Building, Springfield, Illinois 62706
Contact ILGA Webmaster