Public Act 096-1488
 
HB1516 EnrolledLRB096 04928 RCE 14994 b

    AN ACT concerning finance.
 
    Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
 
    Section 5. The General Obligation Bond Act is amended by
changing Section 13 as follows:
 
    (30 ILCS 330/13)  (from Ch. 127, par. 663)
    Sec. 13. Appropriation of Proceeds from Sale of Bonds.
    (a) At all times, the proceeds from the sale of Bonds
issued pursuant to this Act are subject to appropriation by the
General Assembly and, except as provided in Section 7.2, may be
obligated or expended only with the written approval of the
Governor, in such amounts, at such times, and for such purposes
as the respective State agencies, as defined in Section 1-7 of
the Illinois State Auditing Act, as amended, deem necessary or
desirable for the specific purposes contemplated in Sections 2
through 8 of this Act.
    (b) Proceeds from the sale of Bonds for the purpose of
development of coal and alternative forms of energy shall be
expended in such amounts and at such times as the Department of
Commerce and Economic Opportunity, with the advice and
recommendation of the Illinois Coal Development Board for coal
development projects, may deem necessary and desirable for the
specific purpose contemplated by Section 7 of this Act. In
considering the approval of projects to be funded, the
Department of Commerce and Economic Opportunity shall give
special consideration to projects designed to remove sulfur and
other pollutants in the preparation and utilization of coal,
and in the use and operation of electric utility generating
plants and industrial facilities which utilize Illinois coal as
their primary source of fuel.
    (c) Except as directed in subsection (c-1) or (c-2), any
Any monies received by any officer or employee of the state
representing a reimbursement of expenditures previously paid
from general obligation bond proceeds shall be deposited into
the General Obligation Bond Retirement and Interest Fund
authorized in Section 14 of this Act.
    (c-1) Any money received by the Department of
Transportation as reimbursement for expenditures for high
speed rail purposes pursuant to appropriations from the
Transportation Bond, Series B Fund for (i) CREATE (Chicago
Region Environmental and Transportation Efficiency), (ii) High
Speed Rail, or (iii) AMTRAK projects authorized by the federal
government under the provisions of the American Recovery and
Reinvestment Act of 2009 or the Safe Accountable Flexible
Efficient Transportation Equity Act—A Legacy for Users
(SAFETEA-LU), or any successor federal transportation
authorization Act, shall be deposited into the Federal High
Speed Rail Trust Fund.
    (c-2) Any money received by the Department of
Transportation as reimbursement for expenditures for transit
capital purposes pursuant to appropriations from the
Transportation Bond, Series B Fund for projects authorized by
the federal government under the provisions of the American
Recovery and Reinvestment Act of 2009 or the Safe Accountable
Flexible Efficient Transportation Equity Act—A Legacy for
Users (SAFETEA-LU), or any successor federal transportation
authorization Act, shall be deposited into the Federal Mass
Transit Trust Fund.
(Source: P.A. 93-2, eff. 4-7-03; 94-793, eff. 5-19-06.)
 
    Section 99. Effective date. This Act takes effect upon
becoming law.