[ Search ] [ PDF text ] [ Legislation ]
[ Home ] [ Back ] [ Bottom ]
| [ Introduced ] | [ Engrossed ] | [ Senate Amendment 002 ] |
92_HB3489enr HB3489 Enrolled LRB9208381REdv 1 AN ACT concerning bonds. 2 Be it enacted by the People of the State of Illinois, 3 represented in the General Assembly: 4 Section 5. The Build Illinois Bond Act is amended by 5 changing Sections 2 and 4 as follows: 6 (30 ILCS 425/2) (from Ch. 127, par. 2802) 7 Sec. 2. Authorization for Bonds. The State of Illinois 8 is authorized to issue, sell and provide for the retirement 9 of limited obligation bonds, notes and other evidences of 10 indebtedness of the State of Illinois in the total principal 11 amount of $3,540,715,000$2,851,970,000herein called 12 "Bonds". Such authorized amount of Bonds shall be reduced 13 from time to time by amounts, if any, which are equal to the 14 moneys received by the Department of Revenue in any fiscal 15 year pursuant to Section 3-1001 of the "Illinois Vehicle 16 Code", as amended, in excess of the Annual Specified Amount 17 (as defined in Section 3 of the "Retailers' Occupation Tax 18 Act", as amended) and transferred at the end of such fiscal 19 year from the General Revenue Fund to the Build Illinois 20 Purposes Fund as provided in Section 3-1001 of said Code; 21 provided, however, that no such reduction shall affect the 22 validity or enforceability of any Bonds issued prior to such 23 reduction. Such amount of authorized Bonds shall be 24 exclusive of any refunding Bonds issued pursuant to Section 25 15 of this Act and exclusive of any Bonds issued pursuant to 26 this Section which are redeemed, purchased, advance refunded, 27 or defeased in accordance with paragraph (f) of Section 4 of 28 this Act. Bonds shall be issued for the categories and 29 specific purposes expressed in Section 4 of this Act. 30 (Source: P.A. 91-39, eff. 6-15-99; 91-53, eff. 6-30-99; 31 91-709, eff. 5-17-00.) HB3489 Enrolled -2- LRB9208381REdv 1 (30 ILCS 425/4) (from Ch. 127, par. 2804) 2 Sec. 4. Purposes of Bonds. Bonds shall be issued for the 3 following purposes and in the approximate amounts as set 4 forth below: 5 (a) $2,399,954,000$2,029,889,000for the expenses of 6 issuance and sale of Bonds, including bond discounts, and for 7 planning, engineering, acquisition, construction, 8 reconstruction, development, improvement and extension of the 9 public infrastructure in the State of Illinois, including: 10 the making of loans or grants to local governments for waste 11 disposal systems, water and sewer line extensions and water 12 distribution and purification facilities, rail or air or 13 water port improvements, gas and electric utility extensions, 14 publicly owned industrial and commercial sites, buildings 15 used for public administration purposes and other public 16 infrastructure capital improvements; the making of loans or 17 grants to units of local government for financing and 18 construction of wastewater facilities; refinancing or 19 retiring bonds issued between January 1, 1987 and January 1, 20 1990 by home rule municipalities, debt service on which is 21 provided from a tax imposed by home rule municipalities prior 22 to January 1, 1990 on the sale of food and drugs pursuant to 23 Section 8-11-1 of the Home Rule Municipal Retailers' 24 Occupation Tax Act or Section 8-11-5 of the Home Rule 25 Municipal Service Occupation Tax Act; the making of deposits 26 not to exceed $70,000,000 in the aggregate into the Water 27 Pollution Control Revolving Fund to provide assistance in 28 accordance with the provisions of Title IV-A of the 29 Environmental Protection Act; the planning, engineering, 30 acquisition, construction, reconstruction, alteration, 31 expansion, extension and improvement of highways, bridges, 32 structures separating highways and railroads, rest areas, 33 interchanges, access roads to and from any State or local 34 highway and other transportation improvement projects which HB3489 Enrolled -3- LRB9208381REdv 1 are related to economic development activities; the making of 2 loans or grants for planning, engineering, rehabilitation, 3 improvement or construction of rail and transit facilities; 4 the planning, engineering, acquisition, construction, 5 reconstruction and improvement of watershed, drainage, flood 6 control, recreation and related improvements and facilities, 7 including expenses related to land and easement acquisition, 8 relocation, control structures, channel work and clearing and 9 appurtenant work; the making of grants for improvement and 10 development of zoos and park district field houses and 11 related structures; and the making of grants for improvement 12 and development of Navy Pier and related structures. 13 (b) $139,301,500$114,301,500for fostering economic 14 development and increased employment and the well being of 15 the citizens of Illinois, including: the making of grants for 16 improvement and development of McCormick Place and related 17 structures; the planning and construction of a 18 microelectronics research center, including the planning, 19 engineering, construction, improvement, renovation and 20 acquisition of buildings, equipment and related utility 21 support systems; the making of loans to businesses and 22 investments in small businesses; acquiring real properties 23 for industrial or commercial site development; acquiring, 24 rehabilitating and reconveying industrial and commercial 25 properties for the purpose of expanding employment and 26 encouraging private and other public sector investment in the 27 economy of Illinois; the payment of expenses associated with 28 siting the Superconducting Super Collider Particle 29 Accelerator in Illinois and with its acquisition, 30 construction, maintenance, operation, promotion and support; 31 the making of loans for the planning, engineering, 32 acquisition, construction, improvement and conversion of 33 facilities and equipment which will foster the use of 34 Illinois coal; the payment of expenses associated with the HB3489 Enrolled -4- LRB9208381REdv 1 promotion, establishment, acquisition and operation of small 2 business incubator facilities and agribusiness research 3 facilities, including the lease, purchase, renovation, 4 planning, engineering, construction and maintenance of 5 buildings, utility support systems and equipment designated 6 for such purposes and the establishment and maintenance of 7 centralized support services within such facilities; and the 8 making of grants or loans to units of local government for 9 Urban Development Action Grant and Housing Partnership 10 programs. 11 (c) $851,308,600$559,128,600for the development and 12 improvement of educational, scientific, technical and 13 vocational programs and facilities and the expansion of 14 health and human services for all citizens of Illinois, 15 including: the making of construction and improvement grants 16 and loans to public libraries and library systems; the making 17 of grants and loans for planning, engineering, acquisition 18 and construction of a new State central library in 19 Springfield; the planning, engineering, acquisition and 20 construction of an animal and dairy sciences facility; the 21 planning, engineering, acquisition and construction of a 22 campus and all related buildings, facilities, equipment and 23 materials for Richland Community College; the acquisition, 24 rehabilitation and installation of equipment and materials 25 for scientific and historical surveys; the making of grants 26 or loans for distribution to eligible vocational education 27 instructional programs for the upgrading of vocational 28 education programs, school shops and laboratories, including 29 the acquisition, rehabilitation and installation of technical 30 equipment and materials; the making of grants or loans for 31 distribution to eligible local educational agencies for the 32 upgrading of math and science instructional programs, 33 including the acquisition of instructional equipment and 34 materials; miscellaneous capital improvements for HB3489 Enrolled -5- LRB9208381REdv 1 universities and community colleges including the planning, 2 engineering, construction, reconstruction, remodeling, 3 improvement, repair and installation of capital facilities 4 and costs of planning, supplies, equipment, materials, 5 services, and all other required expenses; the making of 6 grants or loans for repair, renovation and miscellaneous 7 capital improvements for privately operated colleges and 8 universities and community colleges, including the planning, 9 engineering, acquisition, construction, reconstruction, 10 remodeling, improvement, repair and installation of capital 11 facilities and costs of planning, supplies, equipment, 12 materials, services, and all other required expenses; and the 13 making of grants or loans for distribution to local 14 governments for hospital and other health care facilities 15 including the planning, engineering, acquisition, 16 construction, reconstruction, remodeling, improvement, repair 17 and installation of capital facilities and costs of planning, 18 supplies, equipment, materials, services and all other 19 required expenses. 20 (d) $150,150,900$148,650,900for protection, 21 preservation, restoration and conservation of environmental 22 and natural resources, including: the making of grants to 23 soil and water conservation districts for the planning and 24 implementation of conservation practices and for funding 25 contracts with the Soil Conservation Service for watershed 26 planning; the making of grants to units of local government 27 for the capital development and improvement of recreation 28 areas, including planning and engineering costs, sewer 29 projects, including planning and engineering costs and water 30 projects, including planning and engineering costs, and for 31 the acquisition of open space lands, including the 32 acquisition of easements and other property interests of less 33 than fee simple ownership; the acquisition and related costs 34 and development and management of natural heritage lands, HB3489 Enrolled -6- LRB9208381REdv 1 including natural areas and areas providing habitat for 2 endangered species and nongame wildlife, and buffer area 3 lands; the acquisition and related costs and development and 4 management of habitat lands, including forest, wildlife 5 habitat and wetlands; and the removal and disposition of 6 hazardous substances, including the cost of project 7 management, equipment, laboratory analysis, and contractual 8 services necessary for preventative and corrective actions 9 related to the preservation, restoration and conservation of 10 the environment, including deposits not to exceed $60,000,000 11 in the aggregate into the Hazardous Waste Fund and the 12 Brownfields Redevelopment Fund for improvements in accordance 13 with the provisions of Titles V and XVII of the Environmental 14 Protection Act. 15 (e) The amount specified in paragraph (a) above shall 16 include an amount necessary to pay reasonable expenses of 17 each issuance and sale of the Bonds, as specified in the 18 related Bond Sale Order (hereinafter defined). 19 (f) Any unexpended proceeds from any sale of Bonds which 20 are held in the Build Illinois Bond Fund may be used to 21 redeem, purchase, advance refund, or defease any Bonds 22 outstanding. 23 (Source: P.A. 91-39, eff. 6-15-99; 91-53, eff. 6-30-99; 24 91-709, eff. 5-17-00.) 25 Section 99. Effective date. This Act takes effect upon 26 becoming law.