House Sponsors: HANNIG-RUTHERFORD-WOOLARD-BRADY. Senate Sponsors: WEAVER,S Short description: GO BOND ACT-REDUCTION Synopsis of Bill as introduced: Amends the General Obligation Bond Act by reducing by $1 the total amount of General Obligation Bonds authorized under this Act. Effective immediately. STATE DEBT IMPACT NOTE HB108 decreases the State's authority to issue, sell and retire General Obligation Bonds by $1. FISCAL NOTE (Bureau of Budget) HB 108 will not increase or decrease state expenditures or re- venues. SENATE AMENDMENT NO. 1. (Senate recedes November 14, 1997) Deletes effective date. CONFERENCE COMMITTEE REPORT NO. 1. Recommends that the Senate recede from S-am 1. Adds reference to: 30 ILCS 330/3 30 ILCS 330/5 30 ILCS 330/7 30 ILCS 330/12 Changes the title and replaces everything after the enacting clause. Amends P.A. 90-8 to add an immediate effective date. Increases the State's General Obligation Bond authority by $1,362,200,00, allo- cating $259,000,000 of that additional authorization for acquisition, and improvement or construction of capital facilities within the State including for educational purposes at public post-secondary institu- tions, prisons and correctional centers' recreational and conservation purposes, child care and mental and public health facilities, disabled veterans and spouses facilities, and use by the State and its several departments, agencies and subdivisions. Allocates an additional $3,200,000 of that authority for use by DCCA for coal and energy re- search, development and energy demonstration purposes. Authorizes the Illinois EPA to make deposits into the U.S. Environmental Protection Fund and the Water Revolving Fund (instead of the Water Pollution Con- trol Revolving Fund) from its existing allocation of General Obliga- tion Bond moneys. Allocates the remaining $1,100,000,000 of the addi- tional bonding authority for grants to school districts for school im- provement projects authorized by the School Construction Law, estab- lishes a 5-year schedule for the sale of the bonds, and provides for the deposit of the proceeds from the sale of those bonds into the School Infrastructure Fund. Effective immediately. Last action on Bill: PUBLIC ACT.............................. 90-0549 Last action date: 97-12-08 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 1 END OF INQUIRY Full Text Bill Status