Full Text of HB0289 96th General Assembly
HB0289sam003 96TH GENERAL ASSEMBLY
|
Sen. Christine Radogno
Filed: 4/1/2009
|
|
09600HB0289sam003 |
|
LRB096 04276 RCE 25059 a |
|
| 1 |
| AMENDMENT TO HOUSE BILL 289
| 2 |
| AMENDMENT NO. ______. Amend House Bill 289, AS AMENDED, by | 3 |
| replacing everything after the enacting clause with the | 4 |
| following:
| 5 |
| "Section 5. If and only if House Bill 210 of the 96th | 6 |
| General Assembly becomes law, the General Obligation Bond Act | 7 |
| is amended by changing Sections 2 and 4 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 $30,693,149,369 | 14 |
| $27,693,149,369 .
| 15 |
| The bonds authorized in this Section 2 and in Section 16 of | 16 |
| this Act are
herein called "Bonds".
|
|
|
|
09600HB0289sam003 |
- 2 - |
LRB096 04276 RCE 25059 a |
|
| 1 |
| Of the total amount of Bonds authorized in this Act, up to | 2 |
| $2,200,000,000
in aggregate original principal amount may be | 3 |
| issued and sold in accordance
with the Baccalaureate Savings | 4 |
| Act in the form of General Obligation
College Savings Bonds.
| 5 |
| Of the total amount of Bonds authorized in this Act, up to | 6 |
| $300,000,000 in
aggregate original principal amount may be | 7 |
| issued and sold in accordance
with the Retirement Savings Act | 8 |
| in the form of General Obligation
Retirement Savings Bonds.
| 9 |
| Of the total amount of Bonds authorized in this Act, the | 10 |
| additional
$10,000,000,000 authorized by this amendatory Act | 11 |
| of the 93rd General
Assembly shall be used solely as provided | 12 |
| in Section 7.2.
| 13 |
| The issuance and sale of Bonds pursuant to the General | 14 |
| Obligation Bond
Act is an economical and efficient method of | 15 |
| financing the long-term capital needs of
the State. This Act | 16 |
| will permit the issuance of a multi-purpose General
Obligation | 17 |
| Bond with uniform terms and features. This will not only lower
| 18 |
| the cost of registration but also reduce the overall cost of | 19 |
| issuing debt
by improving the marketability of Illinois General | 20 |
| Obligation Bonds.
| 21 |
| (Source: P.A. 95-1026, eff. 1-12-09.)
| 22 |
| (30 ILCS 330/4) (from Ch. 127, par. 654)
| 23 |
| Sec. 4. Transportation. The amount of $8,313,399,000 | 24 |
| $5,313,399,000
is authorized for use by the Department of | 25 |
| Transportation for the specific
purpose of promoting and |
|
|
|
09600HB0289sam003 |
- 3 - |
LRB096 04276 RCE 25059 a |
|
| 1 |
| assuring rapid, efficient, and safe highway, air and
mass | 2 |
| transportation for the inhabitants of the State by providing | 3 |
| monies,
including the making of grants and loans, for the | 4 |
| acquisition, construction,
reconstruction, extension and | 5 |
| improvement of the following transportation
facilities and | 6 |
| equipment, and for the acquisition of real property and
| 7 |
| interests in real property required or expected to be required | 8 |
| in connection
therewith as follows:
| 9 |
| (a) $5,432,129,000 $3,432,129,000 for State highways, | 10 |
| arterial
highways, freeways,
roads, bridges, structures | 11 |
| separating highways and railroads and roads, and
bridges on | 12 |
| roads maintained by counties, municipalities, townships or | 13 |
| road
districts for the following specific purposes:
| 14 |
| (1) $3,330,000,000 for use statewide,
| 15 |
| (2) $3,677,000 for use outside the Chicago urbanized
| 16 |
| area,
| 17 |
| (3) $7,543,000 for use within the Chicago urbanized | 18 |
| area,
| 19 |
| (4) $13,060,600 for use within the City of Chicago,
| 20 |
| (5) $58,987,500 for use within the counties of Cook,
| 21 |
| DuPage, Kane, Lake, McHenry and Will, and
| 22 |
| (6) $18,860,900 for use outside the counties of Cook, | 23 |
| DuPage, Kane,
Lake, McHenry and Will , and .
| 24 |
| (7) $2,000,000,000 for use on projects included in the | 25 |
| FY09-14 Proposed Highway Improvement Program as published | 26 |
| by the Illinois Department of Transportation in May 2008; |
|
|
|
09600HB0289sam003 |
- 4 - |
LRB096 04276 RCE 25059 a |
|
| 1 |
| these projects shall reflect the generally accepted | 2 |
| historical distribution of projects throughout the State. | 3 |
| (b) $2,529,670,000 $1,529,670,000 for rail facilities and | 4 |
| for
mass transit facilities, as defined in Section 2705-305 of | 5 |
| the Department of
Transportation Law (20 ILCS 2705/2705-305), | 6 |
| including rapid transit, rail, bus
and other equipment used in | 7 |
| connection therewith by the State or any unit of
local | 8 |
| government, special transportation district, municipal | 9 |
| corporation or
other corporation or public authority | 10 |
| authorized to provide and promote public
transportation within | 11 |
| the State or two or more of the foregoing jointly, for
the | 12 |
| following specific purposes:
| 13 |
| (1) $1,433,870,000 statewide,
| 14 |
| (2) $83,350,000 for use within the counties of Cook,
| 15 |
| DuPage, Kane, Lake, McHenry and Will,
| 16 |
| (3) $12,450,000 for use outside the counties of Cook,
| 17 |
| DuPage, Kane, Lake, McHenry and Will , and .
| 18 |
| (4) $1,000,000,000 for use on projects that shall | 19 |
| reflect the generally accepted historical distribution of | 20 |
| projects throughout the State. | 21 |
| (c) $351,600,000 for airport or aviation facilities and any | 22 |
| equipment used
in connection therewith, including engineering | 23 |
| and land acquisition costs,
by the State or any unit of local | 24 |
| government, special transportation district,
municipal | 25 |
| corporation or other corporation or public authority | 26 |
| authorized
to provide public transportation within the State, |
|
|
|
09600HB0289sam003 |
- 5 - |
LRB096 04276 RCE 25059 a |
|
| 1 |
| or two or more of the
foregoing acting jointly, and for the | 2 |
| making of deposits into the Airport
Land Loan Revolving Fund | 3 |
| for loans to public airport owners pursuant to the
Illinois | 4 |
| Aeronautics Act.
| 5 |
| (Source: P.A. 91-39, eff. 6-15-99; 91-239, eff. 1-1-00; 91-712, | 6 |
| eff. 7-1-00;
92-13, eff. 6-22-01.)
| 7 |
| Section 99. Effective date. This Act takes effect upon | 8 |
| becoming law.".
|
|