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92_SB1351
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1 AN ACT to amend the Build Illinois Bond Act by changing
2 Sections 2 and 4.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Build Illinois Bond Act is amended by
6 changing Sections 2 and 4 as follows:
7 (30 ILCS 425/2) (from Ch. 127, par. 2802)
8 Sec. 2. Authorization for Bonds. The State of Illinois
9 is authorized to issue, sell and provide for the retirement
10 of limited obligation bonds, notes and other evidences of
11 indebtedness of the State of Illinois in the total principal
12 amount of $3,281,970,000 $2,851,970,000 herein called
13 "Bonds". Such authorized amount of Bonds shall be reduced
14 from time to time by amounts, if any, which are equal to the
15 moneys received by the Department of Revenue in any fiscal
16 year pursuant to Section 3-1001 of the "Illinois Vehicle
17 Code", as amended, in excess of the Annual Specified Amount
18 (as defined in Section 3 of the "Retailers' Occupation Tax
19 Act", as amended) and transferred at the end of such fiscal
20 year from the General Revenue Fund to the Build Illinois
21 Purposes Fund as provided in Section 3-1001 of said Code;
22 provided, however, that no such reduction shall affect the
23 validity or enforceability of any Bonds issued prior to such
24 reduction. Such amount of authorized Bonds shall be
25 exclusive of any refunding Bonds issued pursuant to Section
26 15 of this Act and exclusive of any Bonds issued pursuant to
27 this Section which are redeemed, purchased, advance refunded,
28 or defeased in accordance with paragraph (f) of Section 4 of
29 this Act. Bonds shall be issued for the categories and
30 specific purposes expressed in Section 4 of this Act.
31 (Source: P.A. 91-39, eff. 6-15-99; 91-53, eff. 6-30-99;
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1 91-709, eff. 5-17-00.)
2 (30 ILCS 425/4) (from Ch. 127, par. 2804)
3 Sec. 4. Purposes of Bonds. Bonds shall be issued for the
4 following purposes and in the approximate amounts as set
5 forth below:
6 (a) $2,110,680,300 $2,029,889,000 for the expenses of
7 issuance and sale of Bonds, including bond discounts, and for
8 planning, engineering, acquisition, construction,
9 reconstruction, development, improvement and extension of the
10 public infrastructure in the State of Illinois, including:
11 the making of loans or grants to local governments for waste
12 disposal systems, water and sewer line extensions and water
13 distribution and purification facilities, rail or air or
14 water port improvements, gas and electric utility extensions,
15 publicly owned industrial and commercial sites, buildings
16 used for public administration purposes and other public
17 infrastructure capital improvements; the making of loans or
18 grants to units of local government for financing and
19 construction of wastewater facilities; refinancing or
20 retiring bonds issued between January 1, 1987 and January 1,
21 1990 by home rule municipalities, debt service on which is
22 provided from a tax imposed by home rule municipalities prior
23 to January 1, 1990 on the sale of food and drugs pursuant to
24 Section 8-11-1 of the Home Rule Municipal Retailers'
25 Occupation Tax Act or Section 8-11-5 of the Home Rule
26 Municipal Service Occupation Tax Act; the making of deposits
27 not to exceed $70,000,000 in the aggregate into the Water
28 Pollution Control Revolving Fund to provide assistance in
29 accordance with the provisions of Title IV-A of the
30 Environmental Protection Act; the planning, engineering,
31 acquisition, construction, reconstruction, alteration,
32 expansion, extension and improvement of highways, bridges,
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1 structures separating highways and railroads, rest areas,
2 interchanges, access roads to and from any State or local
3 highway and other transportation improvement projects which
4 are related to economic development activities; the making of
5 loans or grants for planning, engineering, rehabilitation,
6 improvement or construction of rail and transit facilities;
7 the planning, engineering, acquisition, construction,
8 reconstruction and improvement of watershed, drainage, flood
9 control, recreation and related improvements and facilities,
10 including expenses related to land and easement acquisition,
11 relocation, control structures, channel work and clearing and
12 appurtenant work; the making of grants for improvement and
13 development of zoos and park district field houses and
14 related structures; and the making of grants for improvement
15 and development of Navy Pier and related structures.
16 (b) $139,301,500 $114,301,500 for fostering economic
17 development and increased employment and the well being of
18 the citizens of Illinois, including: the making of grants for
19 improvement and development of McCormick Place and related
20 structures; the planning and construction of a
21 microelectronics research center, including the planning,
22 engineering, construction, improvement, renovation and
23 acquisition of buildings, equipment and related utility
24 support systems; the making of loans to businesses and
25 investments in small businesses; acquiring real properties
26 for industrial or commercial site development; acquiring,
27 rehabilitating and reconveying industrial and commercial
28 properties for the purpose of expanding employment and
29 encouraging private and other public sector investment in the
30 economy of Illinois; the payment of expenses associated with
31 siting the Superconducting Super Collider Particle
32 Accelerator in Illinois and with its acquisition,
33 construction, maintenance, operation, promotion and support;
34 the making of loans for the planning, engineering,
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1 acquisition, construction, improvement and conversion of
2 facilities and equipment which will foster the use of
3 Illinois coal; the payment of expenses associated with the
4 promotion, establishment, acquisition and operation of small
5 business incubator facilities and agribusiness research
6 facilities, including the lease, purchase, renovation,
7 planning, engineering, construction and maintenance of
8 buildings, utility support systems and equipment designated
9 for such purposes and the establishment and maintenance of
10 centralized support services within such facilities; and the
11 making of grants or loans to units of local government for
12 Urban Development Action Grant and Housing Partnership
13 programs.
14 (c) $883,337,300 $559,128,600 for the development and
15 improvement of educational, scientific, technical and
16 vocational programs and facilities and the expansion of
17 health and human services for all citizens of Illinois,
18 including: the making of construction and improvement grants
19 and loans to public libraries and library systems; the making
20 of grants and loans for planning, engineering, acquisition
21 and construction of a new State central library in
22 Springfield; the planning, engineering, acquisition and
23 construction of an animal and dairy sciences facility; the
24 planning, engineering, acquisition and construction of a
25 campus and all related buildings, facilities, equipment and
26 materials for Richland Community College; the acquisition,
27 rehabilitation and installation of equipment and materials
28 for scientific and historical surveys; the making of grants
29 or loans for distribution to eligible vocational education
30 instructional programs for the upgrading of vocational
31 education programs, school shops and laboratories, including
32 the acquisition, rehabilitation and installation of technical
33 equipment and materials; the making of grants or loans for
34 distribution to eligible local educational agencies for the
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1 upgrading of math and science instructional programs,
2 including the acquisition of instructional equipment and
3 materials; miscellaneous capital improvements for
4 universities and community colleges including the planning,
5 engineering, construction, reconstruction, remodeling,
6 improvement, repair and installation of capital facilities
7 and costs of planning, supplies, equipment, materials,
8 services, and all other required expenses; the making of
9 grants or loans for repair, renovation and miscellaneous
10 capital improvements for privately operated colleges and
11 universities and community colleges, including the planning,
12 engineering, acquisition, construction, reconstruction,
13 remodeling, improvement, repair and installation of capital
14 facilities and costs of planning, supplies, equipment,
15 materials, services, and all other required expenses; and the
16 making of grants or loans for distribution to local
17 governments for hospital and other health care facilities
18 including the planning, engineering, acquisition,
19 construction, reconstruction, remodeling, improvement, repair
20 and installation of capital facilities and costs of planning,
21 supplies, equipment, materials, services and all other
22 required expenses.
23 (d) $148,650,900 for protection, preservation,
24 restoration and conservation of environmental and natural
25 resources, including: the making of grants to soil and water
26 conservation districts for the planning and implementation of
27 conservation practices and for funding contracts with the
28 Soil Conservation Service for watershed planning; the making
29 of grants to units of local government for the capital
30 development and improvement of recreation areas, including
31 planning and engineering costs, sewer projects, including
32 planning and engineering costs and water projects, including
33 planning and engineering costs, and for the acquisition of
34 open space lands, including the acquisition of easements and
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1 other property interests of less than fee simple ownership;
2 the acquisition and related costs and development and
3 management of natural heritage lands, including natural areas
4 and areas providing habitat for endangered species and
5 nongame wildlife, and buffer area lands; the acquisition and
6 related costs and development and management of habitat
7 lands, including forest, wildlife habitat and wetlands; and
8 the removal and disposition of hazardous substances,
9 including the cost of project management, equipment,
10 laboratory analysis, and contractual services necessary for
11 preventative and corrective actions related to the
12 preservation, restoration and conservation of the
13 environment, including deposits not to exceed $60,000,000 in
14 the aggregate into the Hazardous Waste Fund and the
15 Brownfields Redevelopment Fund for improvements in accordance
16 with the provisions of Titles V and XVII of the Environmental
17 Protection Act.
18 (e) The amount specified in paragraph (a) above shall
19 include an amount necessary to pay reasonable expenses of
20 each issuance and sale of the Bonds, as specified in the
21 related Bond Sale Order (hereinafter defined).
22 (f) Any unexpended proceeds from any sale of Bonds which
23 are held in the Build Illinois Bond Fund may be used to
24 redeem, purchase, advance refund, or defease any Bonds
25 outstanding.
26 (Source: P.A. 91-39, eff. 6-15-99; 91-53, eff. 6-30-99;
27 91-709, eff. 5-17-00.)
28 Section 99. Effective date. This Act takes effect upon
29 becoming law.