Public Act 098-0781
 
SB3224 EnrolledLRB098 19559 OMW 54748 b


  
    AN ACT concerning State government.
  
 
    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 Sections 2, 4, and 7 as follows:
 
    (30 ILCS 330/2)  (from Ch. 127, par. 652)
    Sec. 2. Authorization for Bonds. The State of Illinois is 
authorized to
issue, sell and provide for the retirement of 
General Obligation Bonds of
the State of Illinois for the 
categories and specific purposes expressed in
Sections 2 
through 8 of this Act, in the total amount of $49,917,925,743 
$49,317,925,743.
    The bonds authorized in this Section 2 and in Section 16 of 
this Act are
herein called "Bonds".
    Of the total amount of Bonds authorized in this Act, up to 
$2,200,000,000
in aggregate original principal amount may be 
issued and sold in accordance
with the Baccalaureate Savings 
Act in the form of General Obligation
College Savings Bonds.
    Of the total amount of Bonds authorized in this Act, up to 
$300,000,000 in
aggregate original principal amount may be 
issued and sold in accordance
with the Retirement Savings Act 
in the form of General Obligation
Retirement Savings Bonds.
    Of the total amount of Bonds authorized in this Act, the 
additional
$10,000,000,000 authorized by Public Act 93-2, the 
$3,466,000,000 authorized by Public Act 96-43, and the 
$4,096,348,300 authorized by Public Act 96-1497 shall be used 
solely as provided in Section 7.2.
    The issuance and sale of Bonds pursuant to the General 
Obligation Bond
Act is an economical and efficient method of 
financing the long-term capital needs of
the State.  This Act 
will permit the issuance of a multi-purpose General
Obligation 
Bond with uniform terms and features.  This will not only lower

the cost of registration but also reduce the overall cost of 
issuing debt
by improving the marketability of Illinois General 
Obligation Bonds.
(Source: P.A. 97-333, eff. 8-12-11; 97-771, eff. 7-10-12; 
97-813, eff. 7-13-12; 98-94, eff. 7-17-13; 98-463, eff. 
8-16-13.)
 



    (30 ILCS 330/4)  (from Ch. 127, par. 654)



    Sec. 4. Transportation. The amount of $15,948,199,000 
$14,848,199,000
is authorized for use by the Department of 
Transportation for the specific
purpose of promoting and 
assuring rapid, efficient, and safe highway, air and
mass 
transportation for the inhabitants of the State by providing 
monies,
including the making of grants and loans, for the 
acquisition, construction,
reconstruction, extension and 
improvement of the following transportation
facilities and 
equipment, and for the acquisition of real property and

interests in real property required or expected to be required 
in connection
therewith as follows:

    (a) $5,432,129,000 for State highways, arterial
highways, 
freeways,
roads, bridges, structures separating highways and 
railroads and roads, and
bridges on roads maintained by 
counties, municipalities, townships or road
districts for the 
following specific purposes:

        (1) $3,330,000,000 for use statewide,

        (2) $3,677,000 for use outside the Chicago urbanized

    area,

        (3) $7,543,000 for use within the Chicago urbanized 
    area,

        (4) $13,060,600 for use within the City of Chicago,

        (5) $58,987,500 for use within the counties of Cook,

    DuPage, Kane, Lake, McHenry and Will,

        (6) $18,860,900 for use outside the counties of Cook, 
    DuPage, Kane,
Lake, McHenry and Will, and

        (7) $2,000,000,000 for use on projects included in 
    either (i) the FY09-14 Proposed Highway Improvement 
    Program as published by the Illinois Department of 
    Transportation in May 2008 or (ii) the FY10-15 Proposed 
    Highway Improvement Program to be published by the Illinois 
    Department of Transportation in the spring of 2009; except 
    that all projects must be maintenance projects for the 
    existing State system with the goal of reaching 90% 
    acceptable condition in the system statewide and further 
    except that all projects must reflect the generally 
    accepted historical distribution  of projects throughout 
    the State. 
    (b) $5,379,670,000 for rail facilities and for
mass transit 
facilities, as defined in Section 2705-305 of the Department of

Transportation Law (20 ILCS 2705/2705-305), including rapid 
transit, rail, bus
and other equipment used in connection 
therewith by the State or any unit of
local government, special 
transportation district, municipal corporation or
other 
corporation or public  authority authorized to provide and 
promote public
transportation within the State or two or more 
of the foregoing jointly, for
the following specific purposes:

        (1) $4,283,870,000 statewide,

        (2) $83,350,000 for use within the counties of Cook,

    DuPage, Kane, Lake, McHenry and Will,

        (3) $12,450,000 for use outside the counties of Cook,

    DuPage, Kane, Lake, McHenry and Will, and

        (4) $1,000,000,000 for use on projects that shall 
    reflect the generally accepted historical distribution of 
    projects throughout the State. 
    (c) $482,600,000 for airport or aviation facilities and any 
equipment used
in connection therewith, including engineering 
and land acquisition costs,
by the State or any unit of local 
government, special transportation district,
municipal 
corporation or other corporation or public authority 
authorized
to provide public transportation within the State, 
or two or more of the
foregoing acting jointly, and for the 
making of deposits into the Airport
Land Loan Revolving Fund 
for loans to public airport owners pursuant to the
Illinois 
Aeronautics Act.

    (d) $4,653,800,000 $3,553,800,000 for use statewide for 
State or local highways, arterial highways, freeways, roads, 
bridges, and structures separating highways and railroads and 
roads, and for grants to counties, municipalities, townships, 
or road districts for planning, engineering, acquisition, 
construction, reconstruction, development, improvement, 
extension, and all construction-related expenses of the public 
infrastructure and other transportation improvement projects 
which are related to economic development in the State of 
Illinois. 
(Source: P.A. 97-771, eff. 7-10-12; 98-94, eff. 7-17-13.)

 
    (30 ILCS 330/7)  (from Ch. 127, par. 657)
    Sec. 7. Coal and Energy Development. The amount of 
$242,700,000 $742,700,000 is
authorized to be used by the 
Department of Commerce and Economic Opportunity (formerly 
Department of Commerce and Community Affairs) for
coal and 
energy development purposes, pursuant to Sections 2, 3 and 3.1 
of the
Illinois Coal and Energy Development Bond Act, for the 
purposes
specified
in Section 8.1 of the Energy Conservation 
and Coal Development Act, for
the purposes specified in Section 
605-332 of the Department of Commerce and
Economic Opportunity 
Law of the Civil Administrative Code of Illinois, and for the 
purpose of facility cost reports prepared pursuant to Sections 
1-58 or 1-75(d)(4) of the Illinois Power Agency Act and for the 
purpose of development costs pursuant to Section 8.1 of the 
Energy Conservation and Coal Development Act.  Of this
amount:
    (a) $143,500,000 is
for the specific purposes of 
acquisition,
development, construction, reconstruction, 
improvement, financing,
architectural and technical planning 
and installation of capital facilities
consisting of 
buildings, structures, durable equipment, and land for the

purpose of capital development of coal resources within the 
State and for the
purposes specified in Section 8.1 of the 
Energy Conservation and Coal
Development Act;
    (b) $35,000,000 is for the purposes specified in Section 
8.1 of the
Energy
Conservation and Coal Development Act and 
making grants to generating stations and coal gasification 
facilities within the State of Illinois and to the owner of a

generating station
located in Illinois and having at least 
three coal-fired generating units
with accredited summer 
capability greater than 500 megawatts each at such
generating 
station as provided in Section 6 of that Bond Act;
    (c) $13,200,000 is for research, development and 
demonstration
of forms of energy
other than that derived from 
coal, either on or off State property;
    (d) $0 $500,000,000 is for the purpose of providing 
financial assistance to
new
electric generating facilities as 
provided in Section 605-332 of the Department
of Commerce and 
Economic Opportunity Law of the Civil Administrative Code of

Illinois; and
    (e) $51,000,000 is for the purpose of facility cost reports 
prepared for not more than one facility pursuant to Section 
1-75(d)(4) of the Illinois Power Agency Act and not more than 
one facility pursuant to Section 1-58 of the Illinois Power 
Agency Act and for the purpose of up to $6,000,000 of 
development costs pursuant to Section 8.1 of the Energy 
Conservation and Coal Development Act. 
(Source: P.A. 98-94, eff. 7-17-13.)
 

    Section 99. Effective date. This Act takes effect upon 
becoming law.


Effective Date:  7/22/2014