OBAMA. 30 ILCS 105/5.449 new 30 ILCS 105/6z-42 new 30 ILCS 330/2 from Ch. 127, par. 652 30 ILCS 330/5a new 30 ILCS 330/12 from Ch. 127, par. 662 35 ILCS 630/6 Amends the State Finance Act and the Telecommunications Excise Tax Act. Provides that the Department of Revenue shall transfer the first $3,000,000 realized each month, or as much of that amount as possible if less than $3,000,000 is realized, from the tax imposed by the Telecommunications Excise Tax Act into the General Revenue Fund for payment of principal, interest, and premiums, if any, on bonds issued to finance improved telecommunications facilities in schools. Amends the General Obligation Bond Act to increase authorization of bonds by $450,000,000. Authorizes the issuance of $450,000,000 for use in constructing and improving school telecommunications facilities. Provides that the proceeds from these bonds shall be deposited into the School Technology Fund. Provides that the moneys in the School Technology Fund shall, subject to appropriation, be distributed as grants to school districts for the purchase of computers, on-line computer services, or telecommunications equipment. 97-02-06 S FIRST READING 97-02-06 S REFERRED TO SENATE RULES COMMITTEE RULES 97-02-19 S ASSIGNED TO COMMITTEE EXECUTIVE 97-02-28 S TO SUBCOMMITTEE 97-02-28 S COMMITTEE EXECUTIVE 97-03-15 S RE-REFERRED TO RULES COMM/RULE 3-9(A) RULES 99-01-12 S SESSION SINE DIE END OF INQUIRY Full Text Bill Summary